Urbit uses an NFT contract (ecliptic.eth) to manage its address space, which you can read more about here. The Urbit address space and the Urbit Foundation are governed by the galaxy tokens, of which there are only 256.
Galaxies are expensive and difficult to acquire, so those who want exposure to Urbit generally hold stars and planets instead. Only galaxies have governance power.
Some individuals and funds may have the capital and network necessary to acquire a galaxy, but galaxies come with responsibility and are difficult to liquidate.
The sigil for ~wen, Point DAO’s first galaxy.
Point DAO is a protocol, a general purpose dao, and a community of hundreds of Ethereum and Urbit heads.
Inspired by PartyBid, the protocol enables the dao to acquire Urbit galaxies via a crowdfund mechanism that mints a new fungible token. The token holders can then vote on Urbit governance proposals together.
The protocol was designed to wrap many galaxies, even a large majority, in which case the dao would become the de facto governing body of Urbit.
Join ~winlud-dirnet/point-dao on Urbit to learn how you can participate and for all important updates
Read the protocol docs and code on GitHub
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Send inquiries to [email protected]