What Is MetaDexDAO, and How Does It Work
MetaDexDAO is a Decentralized Autonomous Organization or DAO. It is governed by a special protocol that facilitates the acquisition of profitable assets from various Metaverses. For example, The Sandbox, Decentraland, Zepeto, and any other new virtual world that our community members find interesting. In other words, MetaDexDAO is a unique protocol that works as a DeFi aggregator for the growing economy of the Metaverse.
This protocol helps community members to effortlessly and efficiently acquire and accumulate the most profitable tokens and NFTs from the Metaverses in the DAO Treasury. And also generate value from it over short and long periods. In this article, we will discuss how MetaDexDAO functions.
Principles Of MetaDexDAO
To become a member of the DAO, you need to have a METADEXDAO token. Anyone from anywhere in the world who owns at least one token becomes part of the MetaDexDAO community. MetaDexDAO is a self-governing organization. It means no central entity can decide what to do within the protocol.
Most of the basic rules for the DAO functioning are already encoded in a smart contract on the blockchain. But all day-to-day decisions in the DAO are made collectively by METADEXDAO token holders in a truly democratic way.
For example, what Metaverse assets to acquire, how much treasury funds to spend on them, and how long these assets will be stored in the DAO treasury.
DAO members can vote on other strategic decisions that generate income, like lending, staking acquired assets, participating in external lotteries, etc. Ultimately, all holdings must realize their growth potential, gain value, and therefore increase the value of the treasury and the income of DAO members.
MetaDexDAO is a vibrant, growing community of people, offering true freedom, justice, and limitless potential to people worldwide, regardless of their background.
Governance Process In MetaDexDAO
MetaDexDAO is a permissionless protocol with a utility token that is also a governance token. This means that all token holders can vote for decision-making in the DAO. MetaDexDAO combines the erc20-balance-of voting strategy and quadratic voting system on Snapshot.
It is not the number of METADEXDAO tokens on the voting account that is considered but the total number of voters. Thus, the account with a large token balance is outweighed by the number of small token holders in a quadratic voting system. This protects the protocol’s treasury from centralization and skewed representation of the whale’s opinion in investment decisions.
Also, in a quadratic system, the voters can express their approval or disapproval by allocating the vote to any option. For example, community members vote on a proposal to purchase assets A, B, and C. Some users may prefer only one asset, and some will vote for the combination. Moreover, DAO members can choose the approval ratio in a percentage: give 70% of their voting rights to option A and 15% each to options B and C. The voting result carries all participants’ right to vote in the proportions they distributed.
MetaDexDAO’s governance process follows the below-given outline:
- A proposal is suggested.
- The community evaluates and improves the proposal if needed.
- The proposal is submitted for voting.
- The community votes to approve or reject the proposal.
- If approved, the proposal is implemented.
- The community evaluates, approves, or rejects the implementation.
The main goal of the MetaDexDAO protocol is to create a treasure trove of profitable assets. The price of these should exponentially increase over time. Therefore, we have built a provably robust governance structure in which the cost of a potential attack on decision-making always outweighs the possible benefit.
How To Join MetaDexDAO
To become a part of our strong community and get ready to acquire Metaverse assets across blockchains, you need to buy MetaDexDAO tokens. You only need to connect your Metamask wallet to MetaDexDAO dApp and select the Polygon blockchain. Buy tokens on app.metadexdao.com.
We at MetaDexDAO are all about a fair & secure approach for our community. Check out our white paper for more info on vesting at https://metadexdao.com.