Welcome to the next chapter of VirtuSwap’s ecosystem growth!
What is a DAO?
Decentralized Autonomous Organization is a software running on a blockchain that offers users a built in model for collective management of its code.
It is simply an organization where the group makes decisions collectively and payments are authorized automatically by voting pass.
Main DAO characteristics:
It is flat-hierarchical and democratized, all members have a say in decisions.
Members determine changes by voting.
Activities are transparent and public. Details are continously recorded and a particular token holder can be observed. (edited)
At default, all decision are classified as Ownership decisions. Over time, by passing Ownership decision type of decisions can be classified as Parameter decisions, enabling higher decentralization and participation in VirtuSwap DAO decision making procedures.
Voting
Voting will be done using vote-escrowed VRSW, noted veVRSW, which are obtained by staking VRSW tokens. Any time a VRSW token is staked, one veVRSW token is minted. Any time a VRSW token is unstaked, one veVRSW token is burnt.
How the DAO will allocate VRSW emissions?
VRSW tokenomics dedicate 60% (or 600m VRSW tokens) of total supply to support the growth of the protocol. 300m VRSW tokens of this allocation is dedicated to incentivizing LPs by allocating new emissions to pools based on Minerva, VirtuSwap AI optimization model that introduce for the first time an ability to make informed decisions about LP incentivization. The remaining 300m VRSW tokens will be subject to DAO discretion and could be also used to incentives liquidity or participation by passing an Ownership decision