Introducing FTMO DAO
Oasis Seekers, we’re proud to announce the next phase in our FTMO rollout: the FTMO DAO.
Not only are we launching FTMO as a DAO, not only are we elevating both the conventional DAO model and the conventional launchpad model, not only will we be holding our first vote within the next few days, but we are offering a special opportunity for access to the private sale whitelist for those participating in governance.
The Problem With DAOs
The issue with most DAOs is simple — they are not DAOs. Far from “decentralized”, developers are the ultimate decision makers, tasked with manually implementing (or not implementing) the whims of the voters. Few decentralized voting systems are actually linked to the protocols they control via code. Instead, they rely on the human developer to make the changes they’ve prescribed.
The FTMO team find this status quo unacceptable, and we’re committed to the decentralized and innovative spirit that powers the Fantom ecosystem. Our voting will be linked directly to our smart contract, executing the will of the voters without the human intermediary to corrupt the process.
The initial vote, detailed below, revolves around the currency choice for the next round of FTMO’s private sale. All our contracts will be published in advance, so voters can see and confirm for themselves the code, in this case, is truly law. Whatever the voters decide via governance contract will be executed by the private sale contract.
(One of) The Problems With Launchpads
Most launchpads are a centralized affair, where holders are locked out of the governance process. While token holders might be given access to projects not typically reserved for the public, the process is still one of top-down decision making, divorced from the holder and on-chain community. Not so with FTMO, and we’re going to be rolling out the extent of our DAO and governance process very soon.
PROPOSITION #1 —Funds for Private Sale
In what currency ($USDC or $FTM) should the next round of FTMO funding be transacted?
So far the team have collected funds in both FTM and USDC. We’re giving voters the opportunity to choose which of these two currencies should be accepted for the next round of the private sale, and in the process, whitelist themselves for a private sale seat.
Voting and Private Sale Access
How’s it work? Simple. Votes for those already allocated FTMO are weighted based on each addresses’ accumulated FTMO allocation (seed + strategic + OTC).
For our passionate supporters who haven’t yet got the opportunity to enter the Oasis, we are offering 1,000 free FTMO ($40 value) and a whitelisted seat in the private sale round for up to 100,000 FTMO ($0.04/FTMO). Interested parties should join our Telegram to get whitelisted, and make sure they vote! Only addresses that have recorded a vote will be eligible for the giveaway and given access to the private sale.
What’s Next
We’re very excited to start opening the Oasis, and in the process detail how our governance and project roadmap will set the standard for launchpad projects in the future.
We have a lot of big announcements coming up, maybe sooner than you think, so make sure you’re subscribed to our Telegram and Twitter to ensure you’re on board as the Fantom ecosystem comes into full bloom.
