veDAO: Top Projects from DAO Investing For The People

In today's highly developed industrial and automation era, people should be living a better life than a hundred years ago. However, why are unemployment and displacement still plaguing people? Why do the poor get poorer and the rich get richer? It is time to rethink the correctness of the financial system based on debt.

Industrial and automation have solved the guarantee of life, allowing people to enter or create more new industries; blockchain has solved the high trust cost of transactions between strangers, laying the foundation for a new financial system; DAO has solved the inefficiency of collaborative single-threading. The foundation of change is ready, isn't it? It is time to combine the wisdom of the masses with the insight of the elite to create new investment and financing rules.

veDAO will seek and invest in the most promising projects through a voting mechanism, establishing a community composed of financiers, investors, and DAO members. Through the incentive mechanism of smart contracts, each veDAO member can coordinate without a designated leader, and each participant can make decisions based on their own interests. With the incentive mechanism of veDAO smart contracts as a guide, veDAO encourages the self-decision-making of each member to aggregate into collective wisdom, far surpassing any traditional decision-making mechanism.

DAO

Just as after the second industrial revolution, companies gradually became a common form of cooperation and management organizations. Today, with the arrival of Web3, DAO will inevitably replace traditional organizations and become a new form of organization in human history.

At the structural level, network structure will replace the pyramid structure as the dominant form of human organization. The pyramid structure is a linear processing of information, making decisions one by one from the top; while the network structure is parallel processing of information, where each node can contribute wisdom. In terms of magnitude, DAO can effectively expand human collaboration, eliminate market transaction costs through smart contracts and incentive systems, and larger group organizations will be able to operate in this high-trust level market.

Through DAO, we can see a brand new future.

This is why veDAO aims to establish a self-managed and non-delegated automatic investment and financing platform, thereby reducing the entry barriers for investment and financing. In this sense, users will invest in the most valuable projects, project managers will receive financing, and DAO members will maximize their role in community governance and profit from it.

Operation Mechanism of veDAO

The operation mechanism of veDAO is divided into 3 parts: initiating financing applications, voting governance, and online fundraising:

1. Initiating Financing Applications

There are two ways to apply for financing. One is for the project party to initiate a financing application in veDAO and submit project materials and token sale information. The second is for veDAO members to initiate investment proposals, which veDAO calls "scouts." Scouts can discover early high-quality projects, submit project introductions and recommendations, and initiate investment proposals.

Depending on the financing scale (scouts will be based on community rules), the project party will be required to pledge a certain amount of DAO tokens. After the fundraising ends, the pledged tokens will be fully refunded. If the financing application is not approved, 20% of the pledged tokens will be directly destroyed (in the future, the proportion of destruction will be determined by a DAO community vote), and the remaining 80% will be refunded. This logic ensures a positive cycle of investment proposals and prevents the generation of too many low-quality proposals.

2. Voting Governance

By pledging DAO (or LP tokens) to obtain veDAO, users holding veDAO are called voters and have voting governance rights to vote on new applications launched on veDAO. Each project can be voted on once (using all the votes), and each project is voted on independently.

At the same time, veDAO can ensure the effective operation of voting governance through setting up a reward and punishment mechanism, allowing elites to stand out and obtain better governance benefits. The voting weight of voters is jointly determined by the amount of veDAO and the voting weight. The voting weight is bound to the voter's wallet address and cannot be transferred. The initial voting weight of each voter is the same, and the voting weight increases for voters who vote correctly, while it decreases for voters who vote incorrectly.

As more and more elites stand out, veDAO will allow voters to delegate their voting rights to agents in the future. Voter agents are called "sword bearers" and can exercise voting rights on behalf of voters, and only sword bearers can accept voter delegation. Sword bearers form the veDAO governance committee, which has limited seats and will issue limited NFTs for sword bearers. Sword bearers are an important part of veDAO, a cohesion of member trust, enjoying unlimited glory and rights.

3. Online Fundraising

Projects that have passed the vote can start the fundraising process. For fundraising applications submitted by the project party, the project party will negotiate with veDAO on the start time and the tokens/NFTs to be listed for sale. For investment proposals submitted by scouts, veDAO will start the fundraising process, and users will pay a pre-order deposit. veDAO will contact the project party to confirm whether they accept community investment. If not, the deposit will be refunded to the user.

veDAO Members

In veDAO, you can participate in different roles according to your own situation:

If you need financing, you can be a financing party; if you want to invest, you can become an investor; or if you simply want to pledge and earn income, you can become a token pledger of veDAO. In addition, there are roles such as voters, scouts, and business managers for you to choose from. The multi-role system is the way veDAO maximizes the application of DAO: different roles are brought together through veDAO, and members only need to act in their own interests, and the self-decision-making of each member can be aggregated into collective wisdom, thereby redefining its production mode and achieving non-zero-sum distribution of benefits. This is also why veDAO fully utilizes the wisdom of the masses and the insight of the elite.

veDAO is committed to providing a transparent and easy-to-use platform for all financing parties, investors, and community contributors through democratic voting. With veDAO, all participants will share the benefits of the project and benefit from top projects in the future. In the foreseeable future, veDAO will become the most influential project evaluation platform and the birthplace of top projects.

The power of the people is far stronger than that of the authorities. VeDAO created veDAO, but veDAO does not belong to veDAO. Its present and future belong to every participant, to everyone who strives for decentralization in veDAO.

Don't struggle in the quagmire of the traditional financial system, veDAO has brought a new way of investment and financing. Become a member of veDAO, flexibly choose your role, and together with veDAO members, gain substantial returns.

Follow veDAO for more information:

Website: http://www.vedao.com/

Twitter: https://twitter.com/vedao_official

Facebook: bit.ly/3jmSJwN

Telegram: t.me/veDAO_zh

Discord: https://discord.gg/NEmEyrWfjV