Introducing the GOON DAO

The GOON team has created a lengthy and detailed roadmap to reassure our investors of the platform’s transparency. Now, when the token has been listed and farming dApp are completed, we feel like explaining our upcoming plans to the audience.

So, where is GOON heading? We want to establish a DAO next.

What is DAO?

A DAO, or Decentralized Autonomous Organization, stands for a concept for an organization ruled with forced digital rules and directly controlled by shareholders without hierarchical management. DAOs involve a set of people co-operating according to a self-enforcing open-source protocol.

The DAO represents an organization designed to be automated and decentralized. It acted as a form of venture capital fund, based on open-source code and without a typical management structure or board of directors. The DAO must be unaffiliated with any particular nation-state, even though it uses Ethereum or other networks to be fully decentralized.

Why pursue building an organization like the DAO? The developers of the DAO believed they could eliminate human error or manipulation of investor funds by placing decision-making power into the hands of an automated system and a crowdsourced process. Fueled by ether, the DAO was designed to allow investors to send money from anywhere in the world anonymously. The DAO would then provide those owners tokens, allowing them voting rights on possible projects.

The DAO is mainly responsible for the project’s development and progress, and any holder can participate through the voting system that will be set up.

Future perspectives of the DAO model

What does the future hold for the DAO? This model, as initially envisioned, had not returned as of mid-2020. Nonetheless, interest in decentralized autonomous organizations as a broader group continues to increase after the C19 started. While there are many lingering concerns and potential issues regarding legality, security, and structure, some analysts and investors believe that this type of organization will eventually come to prominence, perhaps even replacing traditionally structured businesses.

What will change in the short term ?

We plan to make DAO also the primary holder of the GOON token. Now that the first phase of liquidity mining is complete, our team is working to prepare the launch of our next dApp, and the DAO touches a part of the inflation — 20%.

The fate of tokens will be in the hands of holders as it’s up to them to decide what to do next with the GOON tokens from the DAO fund.

On August 23 the DAO will get 0.2 token per block, reducing the farming reward by 20%.
On August 23 the WMATIC-USDC pool will be removed
On August 23 the WMATIC-ETH pool will be removed
On August 30 the single asset DAI pool will be removed

We will prevent the deposit to these pools in the coming days

Join us to build the DeFi experience of tomorrow!

Learn More

Website: https://www.polygoon.finance

Twitter: https://twitter.com/PolyGoonMatic

Telegram: https://t.me/PolygoonFinance

Medium: https://medium.com/@polygoonmatic

Gitbook: https://polygoonmatic.gitbook.io/polygoon/

Discord: https://discord.gg/5fH5gwR5sf

--

--

--

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Visa launches cryptocurrency advisory service to support clients

Quicktoken is the first debt tokenization platform backed by Collateralized debt obligations

Announcement: BHD Global Autonomy Foundation was formally established

BehaviourExchange BOUNTY Announcement: 1.500.000 BEX Tokens!

Intelligent Cryptocurrency

Community Update: Over 150,000 XNK Marketplace Listings and More!

BUCKSCAKE- Offers Users The Ability To Earn Money by Staking

Founder Feature: Paul Davison of CoinList

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Polygoon

Polygoon

More from Medium

Natively User-Centric — How Web3 & The Blockchain Put Users First

PancakeSwap V2 and Its Dominance in the BSC DeFi Landscape

Terrae #12: Development Update