Welcome back to the second episode in our CryptoSI DAODAO series. Today, we dive deep into the whitepaper and tokenomics behind this exciting decentralized autonomous organization (DAO) we’re constructing on the Juno Network.
To begin, a little bit about me, CryptoSI, your guide on this journey. I’ve been immersed in the world of crypto since 2012, working with several DAOs over the years. Now, I’m passionate about creating an impactful DAO and documenting the entire process for everyone to see, learn from, and participate in. This venture is not just about showcasing how straightforward building a DAO can be, but also about uniting a community to share the pitfalls, joys, and successes along the way.
At this stage, we’re preparing the foundational elements, including drafting the whitepaper and outlining the tokenomics. Now, crafting a DAO whitepaper before the DAO exists might seem contradictory – it’s hard to describe what people are investing in before it exists. That’s why this document is a living one, a work-in-progress that will evolve as our DAO takes shape.
CryptoSI DAODAO’s initial whitepaper lays out our intentions to create a DAO to support the growth and development of decentralized applications (DApps) and further the adoption of the Juno blockchain. As a venture DAO, any profits generated by the DApps developed will flow back into the DAO. From there, we can collectively decide on new investments, NFT creation, or supporting other public goods.
The DAO will function using a token system – our very own CRDD tokens. These tokens will not only be used for DAO membership but also to access the DApps created by the DAO. Bear in mind that this is just the current plan. As with everything in a DAO, it’s up to the community to decide the ultimate direction.
Now, let’s talk numbers and dive into tokenomics. Our plan includes an initial distribution of CRDD tokens through a token event sale. We believe this is the fairest way to kick things off and avoid the imbalance an airdrop might bring. As of now, we’re planning a large token supply which should imbue CRDD with a meme-token-like appeal. However, CRDD derives its value not from memes but from the utility within the DAO, namely voting and staking rights.
In an effort to create a financially sustainable DAO, we’re contemplating a treasury and several mechanisms to support the value of the token. We’re also considering various governance structures that include community proposals and voting systems. However, these, like the rest of our DAO, are subject to change and refinement.
Our DAO’s roadmap is already sketched out, featuring exciting milestones like launching Cryptosi DAO, releasing NFTs, creating DApps, and continuously improving the DAO’s governance structure.
Still, while we’re optimistic, we’re mindful of the risks ahead. These include technical risks like code security, financial risks from market volatility, legal and regulatory challenges, operational risks, and social risks from managing a vast and diverse community.
In conclusion, CryptoSI DAODAO is an ambitious project that aspires to create a thriving ecosystem to advance the Juno blockchain and crypto community. By creating DApps, investing, and adding value, we hope to build an inclusive cooperative where everyone owns a piece of the pie.
As we progress, we urge everyone to get involved. This DAO is not just about me, CryptoSI, but about each member contributing to its growth. As we develop, expect more conversations, decisions, and milestones that need your participation.
In our next episode, we’ll be discussing some potential projects with developers. So, stay tuned, share our journey,
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For those who want a deeper dive into the fascinating world of DAOs, don’t forget to grab a copy of my book The Ultimate DAO Handbook which offers comprehensive insights into the world of DAOs.
Join me on this journey to explore the brave new world of DAOs. See you in the next episode!