2022: The Year Of The DAO 🔗
DAO's Play An Integral Role In Crypto & Understanding Them Is Essential 🧵👇
DAO's Play An Integral Role In Crypto & Understanding Them Is Essential 🧵👇
1/ #DAO = Decentralized Autonomous Organization 🤝
Transparent. Fair. Innovative. Necessary.
The role a DAO plays ensures that the community is prioritized and not only the founding members, VCs & early investors
Transparent. Fair. Innovative. Necessary.
The role a DAO plays ensures that the community is prioritized and not only the founding members, VCs & early investors
2/ The systemic problem that current corporations face is that a select group of people get to make decisions on behalf of an entire organization.
2.5/These decisions are often not in the best interests of their communities & end up lining key shareholders pockets even more. People's greed drive selfish decisions that impact others negatively.
3/ Ever heard the saying 'power corrupts and absolute power corrupts absolutely'
This is a significant reason why DAO's form an integral part of the success of many #crypto projects and the crypto space as a whole.
This is a significant reason why DAO's form an integral part of the success of many #crypto projects and the crypto space as a whole.
4/ DAO's put the power in the hands of the community's token holders. Token holders can vote on proposals that affect the project (upgrades, changes etc.)
An example of how a DAO can optimize existing systems 👇
An example of how a DAO can optimize existing systems 👇
5/ Essentially, the ethos of crypto is community and decentralization.
We've seen how broken the system is and how only the elites benefit while the community suffers. The concept of a #DAO is community first and foremost & eliminates the "top-down model"☝️
We've seen how broken the system is and how only the elites benefit while the community suffers. The concept of a #DAO is community first and foremost & eliminates the "top-down model"☝️
6/ Why DAO's are necessary:
- Transparency
- Community-oriented
- Decentralized
- Fair Model
- Reduces How Founders Manipulate Projects
- Innovative model for decision-making
- Transparency
- Community-oriented
- Decentralized
- Fair Model
- Reduces How Founders Manipulate Projects
- Innovative model for decision-making
7/ $CULT has an especially efficient DAO which ensures the community controls what proposals are accepted/refused.
Funds are distributed to proposals that are accepted by the community.
The top 50 dCULT holders can put forward proposals and the community can vote 🤝
$RVLT
Funds are distributed to proposals that are accepted by the community.
The top 50 dCULT holders can put forward proposals and the community can vote 🤝
$RVLT
8/ DAO's are becoming a prerequisite for any #crypto project. The principles have the ability to revolutionize existing systems and drastically reform the way existing systems are manipulated.
Why are DAO's important to you?
Why are DAO's important to you?
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