What is DAO?
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. They have built-in treasuries that are only accessible with the approval of their members. Decisions are made via proposals the group votes on during a specified period.
A DAO works without hierarchical management and can have a large number of purposes. Freelancer networks where contracts pool their funds to pay for software subscriptions, charitable organizations where members approve donations and venture capital firms owned by a group are all possible with these organizations.
How does a DAO work?
DAOs operate using smart contracts, which are essentially chunks of code that automatically execute whenever a set of criteria are met. Smart contracts are deployed on numerous blockchains nowadays, though Ethereum was the first to use them.
These smart contracts establish the DAO’s rules. Those with a stake in a DAO then get voting rights and may influence how the organization operates by deciding on or creating new governance proposals.
This model prevents DAOs from being spammed with proposals: A proposal will only pass once the majority of stakeholders approve it. How that majority is determined varies from DAO to DAO and is specified in the smart contracts.
DAOs are fully autonomous and transparent. As they are built on open-source blockchains, anyone can view their code. Anyone can also audit their built-in treasuries, as the blockchain records all financial transactions.
NFTuloan DAO Decisions
1/ Add a collection/ digital asset
2/ Remove collection/ digital asset
3/ Define the LTV of a collection
4/ Define the duration of the loans
5/ Define allocation
NFTuloan DAO Level
*Rewards are adding to STAKING and LENDING to ULOAN token
Only Senators can submit questions for future decisions on the protocol, all the liquidity allocation.
$veULOAN and Voting Right
$veULOAN token is the governance token of the NFTuloan platform.
How to fews options:
1/ stake your nft
2/ stake your eth
3/ Lock $ULOAN
4/ Rent it from someone else
You have a balance of 2000 $ULOAN , and he wants to lock 1000 $ULOAN for a month, he will have a score of 1000 x 2:1 = 2000 $veULOAN. This will be the weight of his vote.
Ratio value if $ULOAN Locked
1 DAY ==> vote weight = 1:1
1 MONTH ==> 2:1
6 MONTH ⇒ 4:1
1 YEAR ==> 8:1
You can also rent your $veULOAN and receive rewards, this feature works with tiers party.