How The Open DeFi DAO Works

Open Defi released details about how the Open DeFi DAO will work including governance as well as some operational details related to community participation and technology choices.

The Open DeFi DAO is the community lego for a multi-chain ecosystem, where membership is permissionless and anyone is able to join. Membership to the DAO only depends on holding the Governance Token, the majority of which will be distributed through a combination of Balancer Pool LBP, Liquidity Mining, Community Drops, and Contributor rewards.

DAO Members will have the ability to vote on how to allocate the DAO treasury, which includes short term yield strategies and longer term incubation strategies.

For proposals that are passed through a successful vote, the DAO Treasury will release or accept tokens from various short term opportunities as well as longer term opportunities.

Open DeFi DAO members will be able to shape the day to day operations and long term strategy of the DAO through a proposal process which will allow for open debate and discussion, voting, and the enactment of new policies. Before launch proposals templates and voting parameters will be set, but are expected to evolve with the needs of the community.

What is Open DeFi?

Open DeFi DAO is a permissionless incubation DAO, formed to launch the breakthrough DeFi projects of tomorrow and generate long-term value by building and launching early-stage financial protocols, applications, tools, and infrastructure that support Open DeFi’s vision of a cross-chain DeFi ecosystem. The DAO will support and launch projects across all layer one ecosystems and explore DeFi markets surrounding new digital asset classes, including NFTs, data tokens and more. The goal is to develop a truly integrated multi-chain DeFi ecosystem that will open up liquid markets and establish a new operating system for finance.

📰 INFO:

https://opendefi.medium.com/how-the-open-defi-dao-works-87524e3a4908