How is HeliconNFT a DAO?

Decentralised Autonomous Organisations, also known as DAOs have been thoroughly elaborated in our previous post — these are entities built around like-minded individuals who follow a set of rules, written into code, and decide on every action through proposals and voting mechanisms.

How does HeliconNFT achieve its status as a DAO?

In order to classify as a decentralised autonomous organisation, HeliconNFT has to first achieve decentralised governance. This is realised through its utility token, HDT, which also doubles up as the governance token of the ecosystem. Holding HDT allows users to not only engage in regular NFT transactions but also put forth proposals and vote on them. Users will stake their HDT in order to table a proposal and voting will also require staking but to a lesser degree. Proposals in Helicon are encouraged to be ones promoting community development and bringing overall betterment to the community and its members.

Apart from proposing and voting on community-driven efforts, HeliconNFT also encourages its members to participate in marketing plan implementation. These can be in the form of videos, articles or social media posts around gameplay, user experience, reviews of the platform, among others. User generated content is very valuable to the success of a business, and encouraging users to express their true feelings will add social proof. Users will get complete freedom, which will build trust with Helicon.

Community members will also get the opportunity to experience a whole host of worldwide tournaments. As more games and players will be welcomed into the Helicon ecosystem, each game will be accompanied by a customised tournament for it. The tournament can be organised for both individuals and teams, congregating from all over the world into one single place.

HeliconNFT’s Aspirations

Through positioning itself as a DAO, HeliconNFT aims to cultivate a large community of individuals who are given back control of the entity. Employing the use of smart contracts, all regulations are written into code that cannot be altered- users are obliged to follow through with this. The voting mechanism aims to offer transparency so users know every single action of the entity and Helicon encourages honest reviews of the user experience so as to build social proof. All of these are pillars of success and achieving these will make Helicon a long-standing success in the blockchain industry.