Introducing the WE-DAO: The digitally programmable WEYU Governance
- Article created: 1st Jul 2022
In the second chapter of our five-part WE-DAO series, we take an exclusive look into how WE-DAO will be generated and distributed and also look at how it will operate.
We have entered a new age where the systems that govern the world are becoming more and more digitized. From banking and government to manufacturing and business processes we can now clearly see that the future is digital. With the birth of Web3 system architecture, we now have unique ways to build on the innovation of digitisation. As new technological advancements are added to the existing array of systems we are challenged to adapt and expand on what is possible to create. Today we have decentralized systems that can be designed using cryptographic tokens attached to a distributed ledger to validate and track historical truths. WEYU is committed to engineering new systems with these technologies to help create and build upon the WEYU ecosystem.
Tokenomics, aka Token engineering, is fast becoming one of the most exciting parts of Web3 and Blockchain. We feel token engineering is the next step in building a healthy, inclusive and technologically advanced governance system around the WEYU ecosystem. Attaching these token models to a DAO (Decentralized Autonomous Organization) gives the network transparency and trust.
The team behind the WEYU project feels a great responsibility to push the boundaries of these new systems and drive as much innovation into the WEYU ecosystem as possible. The arrival of the WE-DAO token is another integral brick in the foundation of WEYU and decentralization.
What is the WE-DAO Token?
The WE-DAO token is an essential addition to the WEYU project. WE-DAO will have several features for the WEYU community to take advantage of. Firstly, WE-DAO tokens grant you access to the DAO. Once a member, you will be able to write and vote on proposals, with one of the main benefits being fee distribution. With the NFT marketplace, WEYU Pieces, WEYU World, Expand and all future products and services, the success will be shared and handed back to DAO members. As WEYU scales, and its overall economic and social activities grow, so will the importance of participating in governing the network… And the rewards of participation could be very nice ;)
As we move toward increasing decentralization within this network, it is important to add these systems and technologies early. Our core community are the ones who should have the loudest voice in the future and the introduction of WE-DAO, and how it is distributed, gives those integral community members that power.
What is the difference between WEYU and WE-DAO?
How do I get WE-DAO?
WE-DAO Tokens are generated in four ways, and you can find the distribution methods and token details below:
Simply stake your WEYU tokens in the WEYU Staking Protocol. This can be found at https://rewards.weyu.io Not only will you be generating WE-DAO tokens every few seconds, but you’ll also take advantage of an introductory APY of 300% in WEYU tokens.
2. Liquidity Provider
WEYU highly recommends this option of generating WE-DAO tokens. By adding liquidity to our WEYU token, a healthy environment for larger traders and users is stimulated on the platform. Our Raydium pool will arrive soon enabling you to pool USDC and WEYU on the Solana blockchain and receive HIGH Yields. Again, with this option, you don’t only earn WE-DAO tokens but you will also receive up to 700% APR as an introductory offer. There will be many incentives and other tokens added to reward liquidity providers to participate.
3. Holders of WEYU Pieces NFTs
If you own any of the WEYU ecosystem NFTs - WEYU Pieces - you will receive WE-DAO tokens just for holding. The WE-DAO tokens will be airdropped to you periodically over the course of 12 months. REMINDER: Holders of WEYU Pieces receive very special benefits with the upcoming WEYU World NFT launch.
4.Holders of WEYU World NFTs
WEYU World will consist of several types of NFTs and all holders of these NFTs will receive WE-DAO tokens. WEYU World is set to launch later this year. All we can say on that is, keep your eyes peeled.
What features will WE-DAO have?
In the coming months, we will release the Decentralized Autonomous Community (DAO) tech stack and governance structure of WEYU. At this point, the holders of WE-DAO will be able to gain access to the DAO environment and be able to use the features of the WE-DAO token. The first three features that are proposed are voting rights, proposal creation and the distribution of all WEYU network fees as a reward.
Coming up next time - chapter 3: The WE-DAO Constitution. In this episode, we will take a closer look at the rules, guidelines, terms, qualifications, voting rights and more of what the WE-DAO constitution entails.
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