🗳️SLAG DAO

The end-state for any decent web3 project.

What is a DAO?

A decentralized autonomous organization, or DAO, is a way to organize and manage a project in a permissionless, equal manner.

Basically, anyone who holds $SLAG tokens has the ability to participate in the SLAG DAO. Participation in this case means:

• vote aye/nay on proposals for spending DAO Treasury funds or making changes to the DAO

• submit proposals to the DAO

For example, one could submit a proposal to sell $1,000 of $SLAG from the treasury to pay for a huge pizza party for the community, conducted simultaneously across many cities worldwide and live stream it all.. just an idea.

SLAG DAO Treasury

Per the tokenomics described in Token Distribution, 35% of the total supply of $SLAG will be purchased by the team at launch, then immediately transferred to the DAO Treasury.

Note: the moment that $SLAG tokens enter the DAO Treasury, a proposal to spend those tokens could theoretically be submitted. Given how volatile and concentrated holder distribution can be in the hours/days/week following TGE, this leaves open the possibility of a 51% attack (i.e. any one person/group can accumulate 51% of voting power, then submit a proposal to drain the wallet)

So, to mitigate this risk, the DAO will begin with a Council setup; this means that the Council (currently 7 members) must approve any proposals that are submitted before they can be voted on.

The outcome of the vote is still based on all $SLAG token holders who choose to vote. The council merely has the ability to reject proposals, in particular malicious proposals.

Once token distribution is sufficiently spread out, thereby drastically reducing the risk of a 51% attack, the council will be dissolved.

This is a strategic move made in the interest of seeing the continued growth and development of the SLAG community. Our hope is that, after the story engine is complete and open for public use, the DAO will oversee the continued growth and development of the project. Things like:

• partnerships with publishing companies to print stories

• collaborations with NFT projects to mint stories on chain

• market makers and CEX listings

• marketing campaigns

• community rewards

• additional feature development

• etc

All of these things take funding (some more than others). In our experience, many well-intentioned teams run out of steam because they lacked the funding/support to achieve their vision. The treasury is meant to be a long-term runway.

To learn more about the DAO platform, see https://docs.realms.today/