Recently, ETH-DAO announced that it will be officially launched soon. It is reported that ETH-DAO will form dynamic NFT exchange interoperability and multi-ecological NFT cross-chain interoperability with NFT transactions as the core. In addition, ETH-DAO will deploy the Metaverse ecosystem and build an efficient, open and interoperable platform to serve digital assets, chain games, Metaverse and many other applications.
ETH-DAO is building a composite ecology such as NFT Marketplace, on-chain travel, pledge mining function, metaverse ecology, ecological construction, etc., promoting ETH-DAO to become a world-class aggregation ecological platform and the development of encryption ecology.
ETH-DAO launched the ETHDAO ecosystem to realize the perfect integration of DeFi, NFT and GameFi. It can provide the underlying technical support for the upgrade of non-functional assets of online games, providing users with quality products including high-quality decentralized APPs based on games and DeFi, Game and NFT Asset Synthesis, NFT and DeFi polymorphic products.
DAO, Decentralized Autonomous Organization, is a mechanism through which people can use software on the Internet to achieve align economic incentives by allocation of risks and rewards. people can coordinate with each other on a global scale and achieve common goals without relying on trust or third parties by using DAO. Achieving reasonable economic incentives through allocation of risks and rewards is the fundamental goal of DAO. Some participants in the DAO prefer more risk to exchange for higher expected returns in the future, while some participants prefer less risk at the expense of future returns. If the incentives are compatible, each participant will contribute to the DAO’s goals by maximizing their own interests.
Although we have moved away from paper documents for transmitting information, we are still using paper documents for economic incentive coordination and communication such as the whole legal system.
Bitcoin has proven that people can achieve reasonable economic incentives with only software and without the third party, achieving the common goal of creating a digital currency with gold-like properties. Maybe call Bitcoin the DAO prototype. Bitcoin proves that certain design patterns can work in the real world.
Ethereum takes this concept one step further by providing a platform that can coordinate participants to achieve economic goals beyond simple currency creation.
ETH-DAO, a super mining project established by an overseas foundation, conducts completely autonomous by the community, solving some loopholes and deficiencies in the original ETH system, such as expensive gas fee and inefficient in speed. The birth of ETH-DAO perfectly solves the loopholes in the original ETH, and at the same time protects the financial assets of cryptocurrency investors more safely and reliably.
ETH-DAO has now strategically cooperated with financial investment institutions to eliminate hidden and dangerous projects in the current cryptocurrency market. The $ETH-DAO model is an experimental approach to the concept of circular economy. ETH-DAO will deploy the metaverse ecology, where ETH-DAO will create an efficient, open and interoperable platform, empowering a dynamic new economy, serving digital assets, chain activities, metaverse and etc., making ETH-DAO Become the world’s first-class aggregation ecological platform and the infrastructure of the Metaverse. ETH-DAO will form an open digital economy by promoting NFT through the open digital economy ecological revolution.
The formation of ETH-DAO: ETH-DAO consists of all holding community members.
ETH-DAO, a social experiment against decentralization, started by all the community members brought together by ETH-DAO. Any decision made within the community requires a vote, but ETH-DAO provides a more convenient and faster way for the community.
Every holder of ETH-DAO has the right to decide and achieve self-management with all resources allocated through voting, truly achieving complete transparency and fairness. ETH-DAO also has a coherent reward system with incentive design as its core, and more importantly, this happens in a bottom-up environment.
At the same time, Genesis NFT has the function of mining and derives new NFTs to continuously generate income when NFT mining.
During the next metaverse competition, ETH-DAO is expected to become a unicorn application leading the next era.