DAO Governance
ALTRU - Decentralized Funding For Businesses
DAO (decentralized autonomous organization) is an innovative blockchain concept in which the core philosophy is to create an organization that’s free from centralized control. The first step in building the DAO is to establish and define the rules that will govern our entire ecosystem. These rules are written in and stored in a smart contract.
The DAO will create a proposal for all $ALTRU holders to vote on once the Business Funding Wallet has USD 25,000 (BNB). In order for a business to secure a round of funding, they must win a proposal. A business may not receive two rounds of funding in succession.
DAOs have three core features:
Decentralization: Not governed by one single, centralized entity.
Autonomous: The DAO can automatically execute operations on its own without any intervention.
Organization: The DAO is governed by its own predetermined rules, like an organization.
Governance
The DAO will vote to determine the business to receive the next round of funding (to be issued via $BNB). In order for a business to win the funding round, it must secure the majority vote.
In order to vote, one is required to be a delegate of the DAO (a holder of $ALTRU tokens). Voting power for $ALTRU token holders correlates with the number of tokens in their wallets. simply put, the more $ALTRU you hold, the more voting power you have. The most successful businesses in the DAO will encourage their customers and supporters to hold $ALTRU as well, to increase their chances of securing funding.
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