DAO Senate: all about Socialogue’s governance

Socialogue is a Decentralized Autonomous Organization — a place where the control is handed over to the people. As in real-life democratic countries, without the people, there would be no country, so Socialogue wouldn’t exist without the NFT lovers, artists, fans, and collectors. Therefore, we have established a virtual senate, ruled by DAO principles and led by Socialogue’s community.

DAO Senate is a unique type of governance that is defined by principles that are similar to our well-known principles of democratic countries. The beauty of this establishment is that, unlike traditional democracy, it hasn’t been around for thousands of years — it is still in its pure form and full of potential. It is open for us to mold it as we want it. And so we did.

The Values

Socialogue has been founded with the idea of creating a free and fair virtual community where people could not only trade NFTs but also connect, express themselves and be able to make the changes within the platform. Up until recently, such a platform didn’t exist. We gave ourselves a purpose to build something that denies the rules of the NFT market that have been created by central governance. We are here for the people and we do believe that certain rules are to be broken. That being said, the only rules our social marketplace has are the values that we are guided by. Which are:

• Equality — as in any democratic country, all members of our community have equal rights to join, to vote, and to express themselves.
• Integrity — getting hold of our NFT collectibles grants not only status but also the responsibility to be an active and respectful member of the community.
• Community — is the absolute foundation of our ETHOS. We’re stronger when we are together. And only together can we shake the virtual world.

How does DAO Senate work

Each member of the Senate has the right to offer their suggestions on improving the community, has the right to vote and express themselves freely. The rules in this democratic social marketplace are simple — one DAO Senator has one vote.

Besides having the fate of Socialogue in their own hands, DAO Senators also have access to many perks and benefits. To name a few:

Token

The Socialogue token SLG is the platform utility token that will serve as additional currency in the Marketplace and Socialogue’s Metaverse. Users will be able to tip content creators with Socialogue tokens and use them for all transactions on the Socialogue platform and beyond. Every Socialogue NFT holder will be rewarded via airdrop in 2022 Q4 when the Initial SLG Token Offering happens.

Recognition

Socialogue appreciates and values every NFT holder. Because of that, with the ‘Senate Member’ badge, members get recognition on the platform. Everyone on the platform can see who has the power to shape the future of Socialogue.

NFT Holder reward

Socialogue pays for every vote in DAO Senate. As much as Senate members participate in DAO activities, they can earn additional rewards paid in Socialogue SLG Tokens. Stake The Socialogue NFT holders & DAO members' community bring stability to the platform. Holders will be able to stake DAO NFTs for additional rewards. Socialogue will distribute royalties among holders who staked their NFTs. The platform will pay in the form of SLG.

Royalties

Socialogue will use royalties to buy floor NFTs and will reward its users with SLG tokens. DAO Senate members will start getting rewards after being in the Senate for one year. Users who stake their NFTs will also get a part of these royalties in the shape of rewards

Socialogue is open to everyone

Anybody can join DAO Senate by purchasing one of Socialoguers’ NFTs. However, we all know that “with great power comes great responsibility”, so you must use your token wisely, be active, make a difference, and all together, we will make Socialogue the most popular Social NFT Marketplace in the world.

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