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Decentralized Autonomous Organization (DAO) within Dappad: Empowering Community-Driven Governance
Dappad is a community-centric project that places great emphasis on enabling platform users to participate in its governance. By ensuring that every token holder has a voice and influence, Dappad fosters an environment of collaborative decision-making and continuous improvement.
- 1.Introducing the $APPA Token with Voting Functionality
At the heart of Dappad's governance model is the $APPA token, which is imbued with voting functionality. Token holders' voting rights and power are determined by the number of tokens held in their wallets, allowing them to actively engage in discussions, proposals, and voting on changes to the platform. This approach encourages users to contribute their ideas for enhancing the platform's performance and rewards their valuable input.
- 2.Community Approval of Proposals
For a proposal to be accepted by the community, it must garner the majority of votes cast. When multiple options are presented, the proposal with the highest number of votes prevails. To participate in the voting process, platform users or community members must hold $APPA tokens, which are locked until the voting period concludes.
- 3.The Role of DAO in Dappad's Ecosystem
As blockchain solutions disrupt the technology and finance industries, decentralized governance models, such as Decentralized Autonomous Organizations (DAOs), are becoming increasingly popular. DAOs deviate from traditional top-down management hierarchies, which are often seen in centralized organizations, in favor of community-driven governance managed through permissionless smart contracts and voting procedures.
Dappad aims to integrate DAO into various aspects of its ecosystem, influencing decisions related to:
- Fund allocation and incubation for projects
- Product feature development and numerical parameters
- Community engagement mechanisms within the incubator
- Yearly roadmaps following the completion of core products
- Resource management and distribution parameters through rewards
This integration empowers the Dappad community, NFT holders, and token holders to play a significant role in the ecosystem's decision-making processes and overall success.
- 4.Ensuring Fair Voting Practices with a 1:1 Token Governance Value Ratio
Most blockchain companies that adopt the DAO model maintain a standard 1:1 token governance value ratio to prevent bad actors from manipulating the voting process by creating multiple wallets. This "skin in the game" approach allocates greater decision-making power to those who are more likely to vote with the platform's best interests in mind.
Dappad will also implement a 1:1 token governance value ratio while setting higher thresholds for yay votes. This ensures that only the most favorable outcomes pass through the DAO voting system. For example, project proposals will require 80% yay votes, with 20% of the circulating token value being cast, in order to allocate resources and funds to projects that the majority of the community and token holders agree on in terms of vision, team, and potential.