Monzter Minions
Search…
DAO

1. What is a DAO and how will it benefit the community?

Decentralized Autonomous Organizations, or 'DAOs', like most organizations act according to a pre-defined set of rules. DAO contracts are immutable and cannot be manipulated or misinterpreted. DAOs create a layer of transparency through which people can collectively team themselves up into groups with a common goal, without the need for centralized decision power. We plan to fund our community DAO with 35 Ethereum (ETH) after we sell out our project. These funds can be used in a wide range of ways to benefit the community for long term wealth creation. Royalties of 2% on every secondary sale will also be sent directly to the DAO treasury on a weekly basis. Ideas to utilize our DAO treasury could include investing, DEFI staking protocols for passive income, buying blue chip NFTs and funding community led projects with proceeds going back into the DAO. Our goal is to achieve an average return of 5-10% each month, meaning after 12 months we could see the DAO funds reach 70+ ETH. This can then be paid out to holders for long-term passive income streams or reinvested to further compound our treasury.
Structure of a DAO, Each member holds voting power to decide the future of the project or community.

2. Voting

Community Voting Procedures

Stage One - Initial Proposals and Votes on Discord

The first stage of our community DAO decisions will be made through our community discord server. Holders will be able to submit proposals relating to decisions and ideas for our project, as well as use of DAO funds. To ensure the long-time survival and capability of our DAO and project, there will be some basic criteria that all proposals must meet:
No single decision can drain more than 49% of the DAO Treasury at any given time. Nothing can impact our Monzter Minions brand in a negative or controversial way. Anyone is welcome to scout for projects and submit proposals to the DAO, basically any project or asset that can bring long term value through information/content or a ROI to our community fund. Options can be Alpha passes to notable whales, this information can be priceless in comparison to the cost of the pass/NFT, blue chip projects that have good price history but may be down during a bear market etc. Each holder will be able to vote via emojis to determine whether the proposal should progress to the next stage. Majority votes will determine the outcome. If the majority are in favor of the proposal, we will progress to stage two - Voting on SnapShot.

Stage Two - SnapShot Voting

If a proposal progresses to stage two, we will utilize SnapShot to finalize a decision about the proposal. Once finalized on SnapShot, we will start implementation of the proposal, with complete transparency for the community. Initially, this will be for all holders to participate in. Once we launch our staking, you will need to use Gems to submit proposals and for final votes. This will have multiple benefits, such as burning our total supply of gems, increasing their value, as well as ensuring that all proposals and votes are thought about and taken seriously.
Copy link
On this page
1. What is a DAO and how will it benefit the community?
2. Voting
Community Voting Procedures
Stage One - Initial Proposals and Votes on Discord
Stage Two - SnapShot Voting