What’s Sup with the DAO?⚡️
Sup! Did you know that the SupDucks have a DAO? If not that’s cool — Let me fill you in!
What is the SupDucks DAO?
The SupDucks DAO is a decentralized organization comprised of every genesis SupDuck holder. It is fully self-governed and consolidates the wide array of talents in the ecosystem, giving the community the opportunity to showcase their skills and voice their ideas. SupDucks holders can visit our snapshot to vote on proposals. Voting is quadratic, allowing holders flexibility in their governance. The number of ducks held in your wallet also determines your weight in the vote.
The DAO was created by MegaVolt Corp in the fall of 2022, with a pledge of 10 ETH and 1,000,000 VOLT. The intent of the organization is community empowerment, treasury growth, and web3 innovation. DAO members are free to pledge liquidity as collateral and self-nominate for various roles and responsibilities. For example, those nominated to author proposals can be passed as such by a community vote. Upon passing, the nominated authors would each stake 25,000 VOLT as liquidity.
Putting Our Brains Together
Other duties for the DAO include its trading council, operating council and collaborations council. The trading council is responsible for growing a portion of the treasury through strategic investment and trading activity, floor sweeps and other endeavors resulting in potential profit.
The collaborations council pursues active partnerships with various individuals or teams, both within the SupDucks ecosystem and beyond. These partnerships boost promotional capabilities and outreach on the end of the DAO and its partners. In most cases this results in pre-determined revenue streams and other benefits.
The operating council reports on all DAO activity, financial documents and other components of the organization’s structure, history and future. Operation reports are issued at the beginning of each month to be discussed with the DAO members. These reports keep members familiar with the DAO’s accomplishments as well as the guiding practices for future endeavors.
All DAO councils are voted upon and approved/amended by the DAO. Once elected, the council carries out their duties with internal votes and decision making, while also maintaining full transparency. Councils are created and amended as needed. They allow for focused activity and empowerment of the various talents within the ecosystem. If you hold a SupDuck, visit the pond and check out the DAO!
