What's a DAO?
Short for "Decentralized Autonomous Organization", is considered a shared treasury or bank account and is stored on the blockchain. This treasury can only be accessed through on-chain instructions which are executed based on whether a community "approves" it or "denies" it by utilizing governance tokens -- such as LABS.
This is vital for projects that look to behave much like a business or corporation in the crypto industry. DAOs promote transparency and decentralization (as it's in the name) amongst it's community members and contributors.
Community Governed
EpicentralDAO has no council or board and is fully community-owned.
All decisions made regarding the EpicentralDAO Treasury are made solely with LABS Tokens. 1 LAB equals 1 vote on a proposal.
Fully Transparent
What makes EpicentralDAO fully transparent is that when it comes to making decisions on how certain funds, revenue streams, and rewards are managed, everything is shown via the blockchain.
When votes are casted on a proposal, certain instructions are passed and are then executed on the blockchain for all to see.
The Voting Process
When it comes to creating new proposals for the DAO, there is a certain process that begins at the heart of the community.
Proposals are first drafted in our Discord Community by members and is then replicated via the DAO itself through UI such as Realms or Grape. This is done so that the community have a place to discuss and amend certain proposals that may or may not be beneficial to LABS holders.
