What Is A DAO
DAOs — The Ricky and Morty’s way
WHAT IS A DAO?
Imagine an organization without a leader where different people around the world coexist, making their own rules and decisions under a single encoded blockchain. Well, DAOs are making this real.
A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation(DAC), is an organization constructed by rules encoded as a computer program that is usually transparent, controlled by the organization’s members and not influenced by a central government, This type of organization is owned by members, this is decentralized. A DAO’s financial transactions are maintained in a blockchain
These organizations are mostly internet based and allows us to collaborate with people all over the world without even meeting them.
A typical example is TheDAO, intended for venture capital funding. It has amassed 3.6 million ether (ETH) — Ethereum mining reward — then worth more than US$70 million in May 2016, and was hacked and drained of US$50 million in cryptocurrency weeks later. The hack was reversed in the following weeks, and the money was restored.
DAOs are open source because they are built on public blockchains. Because all financial transactions are stored on the blockchain, anyone can inspect their treasuries.
Governance in DAO
DAO governance is coordinated using tokens or NFTs that grant voting powers. Requirements for acceptance in these DAO including ownership of the tokens in your wallet and membership may be exchanged. More tokens correlate with more voting power in the DAO. Contributions from members towards the organizational goals of a DAO can sometimes be tracked and internally compensated. Many people believe that the Bitcoin network was the first DAO, but according to modern standards, Dash was the first “real” DAO because it allowed stakeholders to vote through its governance mechanism.
Why Should We Pay Attention to DAOs?(ADVANTAGES)
DAOs offer entrepreneurs and innovators numerous long and short-term benefits that a traditional corporate structure cannot.
So far DAOs are being used for many purposes such as investment, charity, fundraising, borrowing, or buying NFTs, all without intermediaries.
DAOs are trustless because they carry out business operations autonomously via smart contracts. They do not require you to put your trust in a single person or a board of directors. If a key developer or manager leaves, the DAO will continue to function.
DAOs are also resistant to censorship. They cannot be shut down forcibly by anyone, including the government or regulatory bodies. Even the DAO’s creators cannot shut it down unless the community of governance token holders votes to do so. Nobody, regardless of position or authority, has the right to impose their will on a DAO.
DAOs also provide numerous long-term benefits. They enable anyone with a governance token to participate in the project’s success by contributing to the DAO’s mission in a variety of ways. These could include, among other things, creating new code or features, fixing bugs, or contributing capital to an investment pool.
Rather than focusing on profits at all costs, DAO creators could encourage social incentives and increase participation and contributions from their communities if they establish and maintain a strong community culture.
Generally speaking, there are a lot of DAO projects in the market, both on Ethereum, polygon, Dash, and other networks. But have you ever thought of the ideal DAO. Like how Ricky and Morty would have done it?
LevX DAO — is a decentralized autonomous organization (DAO) founded by a brilliant genius, LevX. Under the LevX DAO are three(3) amazing tokens- $LEVX, $MAID ,and $ZERO
Here’s a picture of how it all began
As LevX is a DAO, it makes use of smart contracts to choose the direction of growth for the community through governance proposals and the voting of $levx holders.
Much talk. How can I benefit from all this?
So when you become part of LevX DAO( join: https://discord.gg/oh-geez). There are many benefits such as:
Eligibility for Airdrop:
So the dictator periodically conducts airdrop sessions when our tokens would be distributed to our loyal members(oh geez). Most times the more likes and retweets you get on your post the more tokens you will receive so be creative when you spread the word
So $LEVX holders would special bonuses and passive income in eth from our dictator, LevX , and also from sharkpunk NFT trade
3. NFTs and special prizes:
LevX DAO is currently collaborating with pornhub to give our Morty identification NFTs. Holders of the NFTs are eligible to exclusive premium content on pornhub
4. Meme contests
Our dictator, LevX appreciates humor a lot. So if you’re so lazy to raid twitter you could still get rewarded by proving your creativity through arts and memes
I bet you’re all pumped up. Wanna make cool cash of LevX DAO? Cool