A 360event DAO Conversation
What is 360event DAO?
360event DAO a first-of-its-kind on the cardano network. A social impact DAO that is built on top of a revenue stream to provide sustainability and foster growth,360event DAO permits its members to create event proposals, vote, approve and organize events & concerts both online and IRL as a community.
From a higher concept, it’s a type of decentralized trustless governance, education & research center, and opportunity zone for passive income. Underneath, I view it as an evolution of entertainment. Entertainment meets crypto/web3. Transparent, open, and built on top of a revenue stream and not relying on donations.
What is unique about 360event DAO is that it has a built-in revenue stream design that can independently run the DAO after its launch, 360event DAO also has future aligned incentive programs that will assist in building a strong community thereby promoting the DAO’s growth in every aspect.
Currently, the revenue stream will come from the fees generated by decentralized exchanges trades where liquidity will be provided and a percentage of the generated fees will be given to our liquidity providers. This will generate income for operations while creating sufficient liquidity for those who would like to trade our token. 360event DAO will set up a stake pool for three major reasons, to assist and support Cardano’s decentralization, to create an additional source of revenue to fund treasury and operations, and to distribute our tokens to the community. This stake pool is owned and operated by the DAO, not the Dev team. All revenue generated from it goes directly into the treasury to fund our operations. The last point is meant to be a way to distribute EVENT tokens to people who support the project and get tokens into as many hands as possible.
A large population of crypto new comers have little or no knowledge about the concept of crypto. They heard about the incentive module associated with DAOs, we will incentivize these newcomers to learn about crypto, its benefits, and how to secure it. After they complete it, they will be airdropped DAO tokens, making them stakeholders of the DAO, with a voice to steer it into the future.
We are not talking about a 60-second Coinbase video, then receive your Tezos. Actual modules and engagement to absorb the knowledge. 360event DAO is a yield farm that provides jobs and opportunity. We are helping to onboard the masses into crypto — from the bottom up.
Economically speaking, crypto has been a top-down phenomenon thus far. Until very recently, you needed to buy a token to participate. Pay to play. This prices out most of the world. But with the advent of DAOs, people can earn crypto incentives by participating to help the DAO grow.
Tell us more about this revenue stream?
A liquidity provider , also known as a market maker, is someone who provides their crypto assets to a platform to help with decentralization of trading. In return they are rewarded with a percentage of fees generated by trades on that platform, which can be thought of as a form of passive income. It is important to note that the assets provided are locked with the platform for the amount of time the user decides to provide liquidity.
What is a liquidity pool?
The quantity of crypto assets provided by you would be in the form of a token pair, which are locked in smart contracts and are used to provide liquidity. The liquidity you provide is deposited into a liquidity pool, which is used in most cases by decentralized exchanges. A liquidity pool is designated by the token pair it represents. For example, ADA-EVENT is a liquidity pool that contains the liquidity provided for the token pair ADA and EVENT.
How do liquidity pools work?
Many businesses that are creating their tokens are heavily reliant on the concept of Liquidity Pools to ensure increased liquidity and circulation of their tokens. Providing liquidity for a new token by creating a token pair, is one of the processes involved in an IDO(Initial DEX Offering).
The answer to the question in this section can be figured out from the steps stated in the AMM protocol, but let us outline the brief steps here:
- When a new token pair is registered, a new market is created for that token pair. This creates a liquidity pool for this token pair, to which users can provide liquidity.
- Once the liquidity provider(LP) provides liquidity, they receive LP tokens representing the amount of liquidity they have provided.
- In DEX-es like Unsiwap, when a trade associated with a particular Liquidity Pool takes place, a 0.3% fee is charged on the trade, which is proportionally distributed among the LP token holders.
- And what’s more, you can withdraw your liquidity anytime you want, from the liquidity pools.
We are now familiar with how Liquidity Providers work and how it is useful for both Decentralized Exchanges as well as users who want to earn some side income by providing their crypto assets to liquidity pools. we will now take a look at stake pool.
What is stake pool?
A stake pool is a reliable server node that focuses on maintenance and holds the combined stake of various stakeholders in a single entity. Stake pools are responsible for processing transactions and producing new blocks and are at the core of Ouroboros, the Cardano proof-of-stake protocol.
Stake pool delegator?
A stake pool delegator is an ADA holder who deposits the stake associated with their ada to a stake pool. It allows ada holders that do not have the skills or desire to run a node to participate in the network and be rewarded in proportion to the amount of stake delegated. Fees realized from operating this stake pool will be used to create an additional source of revenue to fund treasury and operations, and to distribute our tokens to the community.
Isn’t DAO risky? Some say it’s a Ponzi
If you’re a no-coiner, everything’s a Ponzi. Historically speaking, most things new and profound look like a scam or lack value to many. The same was said of the internet in the ’90s as is said of crypto today. Yet here we all are, on the internet playing with our magical internet money, Decentralized Autonomous Organization is not a ponzi.
Will there be a TGE ?
Yes at some point before the EVENT public token sale there will be a token generation event. As it stands currently, launch date will be announced on our official handles.
What about competitors ?
Currently we don’t have any competitors as we are the first Event DAO on the cardano blockchain, in a case of upcoming competitors 360event DAO is an innovative decentralized autonomous organization by leveraging the ‘wisdom of the crowd” (community) we will remain top in what we do.
What is DAO to you?
I come across many people and businesses talk about this DAO, that DAO, our DAO, to me a decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain. DAOs are internet-native organizations collectively owned and managed by their members.
Anything you’d like to add?
Yes, as DAOs become more popular and attract more players, they will inevitably experience massive exponential growth. It is only natural that the innovation, inclusiveness, trustless and transparent ecosystem will price out traditional organizations that is centralized where executives and large shareholders can often hold a disproportionate degree of control.
Create your dream event and profit from it.