Rock DAO is preparing its collections for the launch of their next auction! Prepare your SOL wallets ready!

Decentralized Autonomous Organizations, or DAOs for short, have been a new invention thanks to the dawn of cryptographic assets.

Traditionally, DAOs have achieved decentralization through fair launches of governance tokens, tokens that bestow voting power to the holder, to the users of given applications. Most recently, Solana, they have seen growth in a new kind of DAO — the NFT DAO.  Non-Fungible Tokens are tokens that by their nature are non-fungible.

The Rock DAO is an early example of the NFT DAO that seeks to retain the value contributed by members within the membership group through their participation. Membership in the Rock DAO is automatic upon acquisition of one of 100 unique Rocks. These Rocks can be acquired through periodic English Auctions through NinjaPlex or through promotional giveaways and contests at the discretion of the existing members of the DAO.

The structure in which the proceeds from Rock sales is broken down is as follows.

• 50% of sales goes to the Rock DAO treasury.
• 25% of sales go to the artists who make our Rocks.
• 15% of sales go to the Rock DAO members themselves.
• 10% of sales go to the Ninja Protocol for infrastructure/support.

Ninja Protocol provides Rock DAO with the infrastructure, resources, and centralized system of trust for a modest 10% of the sales generated.

• Rocks are created until the cap of 100 is reached.

• Once cap is hit, Rock DAO members will vote on expanding the supply.

• All rocks will be distributed by English auction with a 3-minute gap timer on NINJA-PLEX.

• No first-movers advantage, all DAO members who hold a rock get the equal weight of member dues.

• Profit from sales of rocks will be evenly split and paid out biweekly to the addresses holding the rock.

• Rock DAO members will vote on how the treasury will be spent to bring more value to ROCK DAO members.

• Rock DAO treasury is maintained/managed by Ninja Protocol but governed by Rock DAO.

The primary goal of the Rock DAO is to collaborate, create and capture as much value for all its members as possible. The secondary goal of the Rock DAO is to pool members’ collective efforts to help grow the Solana ecosystem.

Notable Members

Some have said that networking opportunities in crypto have been challenging at best. If you want to get a head start on your crypto journey, why not get direct access to some of the best minds, developers, and entrepreneurs in the space. Here is a sample of their current members in Rock DAO:

• adidogCEO — Founder of Ninja Protocol
• tomjohn1028 — Founder of Psyoptions
• Frank — Founder of GenesysGo
• bitsushi — Founder of GOO
• ChicagoDan — Founder of Phantasia
• bill Papas — Big brain
• seatinlol — Youtube star
• Neil — Founder of Future Finance
• Shayne — a member of Fluiditymoney

With just over 50 rocks already purchased, membership to the Rock DAO is already half full. 

⏬ SOURCES

Gitbook ♦ Twitter ♦ Medium ♦ Auctions