Introducing the AeroDao, a Decentralized Autonomous Organization for the Governance of Aerovek.
Welcome to the future of Aerovek Governance
Aerovek is proud to announce the AeroDao! A Community driven Decentralized Autonomous Organization (DAO). DAO’s have been gaining more popularity over the past couple years as they allow community members to participate in the governance of their respective projects by removing all central authorities to counter corruption and manipulation by executives.
What really is a DAO?
A DAO is a Decentralized Autonomous Organization, which means it allows its community members to create proposals to alter the direction of the company. Then other community members can vote to either approve or reject said proposal. This does many things, but most importantly it allows the community to be the central authority of a project. As investors in a project, members will propose what they think the best path forward for a project is, and if approved the community works to implement the approved changes. DAO’s can take on many shapes and forms but they all have one thing in common, they give power to the people.
How does the AeroDao work?
The AeroDao operates 100% on the Elrond Blockchain through a Maiar wallet connection. This creates a decentralized environment for users to participate and is the first step for any DAO. This removes the initial central authority of having a database which can be manipulated or potentially hacked by bad actors. Next AERO token holders have the ability to create a proposal, in which they can propose to make any kind of change they would like to see, whether it’s for development, financials etc.. This is what starts the conversation and other token holders can submit votes on proposals to either Approve or Reject.
The AeroDao is currently operating on the Elrond Devnet, so in order to participate users will need dEGLD (for gas) and dAERO for proposals and voting which can be obtained in the AeroDao Telegram Group (Link Below).
It takes a deposit of 50 dAERO to create a proposal, which can be returned to the owner once the proposal has ended. Each proposal currently runs for one hour during testing and we will have proposals to set the final lock time for the future. It will cost 5 dAERO for a member to submit a vote on a proposal, this cannot be redeemed, but instead we will vote on what to do with the voting funds, for instance it can be used for staking rewards, be burned etc..
The rules to participate are simple:
- A user can only have one active proposal at a time. This is done so bad actors can’t spam proposals and will give the community time to decide if a bad actor should be blacklisted from the DAO for posting abusive or harmful content.
- Each user can only vote on each proposal once, this is needed to deter voting manipulation.
The AeroDao will go live for community testing Friday December 10th, anyone interested in participating is welcome!
Official Arovek Telegram Group::
Elrond Faucet for dEGLD::