What Is AladdinDAO (ALD)?
Tech Deep Dives

What Is AladdinDAO (ALD)?

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1 year ago

CoinMarketCap takes a deep dive into AladdinDAO (ALD), a project which promotes DeFi startups and allows its community members to profit from their crypto investment.

What Is AladdinDAO (ALD)?

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AladdinDAO is a decentralized network that uses collective value discovery to transfer crypto investments from venture capitalists to the wisdom of the community. The AladdinDAO Boule, a group of international specialists in DeFi, evaluates the most promising DeFi projects and allows AladdinDAO community members to profit from their crypto investment. As a result, the methodology may aid in the general reduction of information asymmetry and asset allocation in the DeFi sector. Boule Members who take part in the DAO process are rewarded with AladdinDAO tokens (ALD).
AladdinDAO is a protocol that aims to use DeFi Big Brains to investigate and evaluate DeFi prospects and share them with the rest of the world.

AladdinDAO relies on three main players:

  • DeFi Projects: These are the projects looking for funding
  • DeFi Big Brains: These are DeFi researchers and experts who select the finest DeFi initiatives/projects and make them available to the community
  • Yield Farmers: These are DeFi users who join in numerous DeFi initiatives while also farming on Aladdin to gain extra incentives

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How Does AladdinDAO (ALD) Work?

AladdinDAO is composed of a team of committee members known as DeFi's first boule. Boule members are proposed by the talent hunters and chosen by ALD token holders via a decentralized governance protocol.
AladdinDAO is a research project that falls under the category of a social experiment where the boule members strive to provide the community the finest DeFi yields. When they identify the projects that produce significant revenues to AladdinDAO's yield farmers, they are rewarded in the same capacity - their reward is directly proportional to the profit that their shortlisted DeFi projects generate.
Rewards are calculated on a per epoch basis and originate from ALD tokens created by the protocol's liquidity mining software, guaranteeing that boule members are continuously looking for new excellent projects rather than resting on the profits of their previous findings.

Yield farmers may contribute any amount they desire to the vetted DeFi initiatives while still earning liquidity mining incentives.

AladdinDAO provides a platform for anyone to come forward and establish a reputation in the community, based on their on-chain track record, and excel as a talent hunter, yield farmer, or a Boule member.

How Is AladdinDAO (ALD) Unique?

AladdinDAO is the first crypto social experiment in which anybody can take part and demonstrate to the community that they are the finest and brightest minds in DeFi. Those who keep up the good work will be recognized for their achievements in new project discovery, research and analysis, decision-making and management, and community-building. Those who do not act in an honest manner will be expelled from the project. Signing up does not need any job contracts, college degrees, or IQ exams. You establish your own reputation and proven record, and you are directly compensated for it.
AladdinDAO is a decentralized network that aims to move crypto investing away from venture capitalists and towards communal value discovery.

AladdinDAO was not designed to promote get-rich-quick scams, rug-pulling, or short-term thinking. The project claims to be a group of long-term thinkers and researchers who bring together the brightest brains to find outstanding initiatives that benefit the community. They try to assist the strongest projects with potential while also reducing the knowledge asymmetry that makes it difficult for regular DeFi users and farmers to support the hottest projects.

What Are AladdinDAO (ALD) Roles?

AladdinDAO comprises five major roles on which the whole ALD ecosystem runs:

Talent Hunters

The DAO's talent hunters are in charge of identifying and recommending possible qualified candidates. The original backers of AladdinDAO, the first group of talent hunters, are in charge of seeding the talent network. Up to five boule members can be invited by each of the original talent hunters (it can include themselves as well). 

Members of the Boule

Boule Members are top-tier DeFi specialists. They select the most viable DeFi projects/initiatives, allowing members of the AladdinDAO ecosystem to profit from their liquidity mining operations. 

To guarantee that Boule Members come from different backgrounds, 80% of these members are appointed by the first batch of Talent Hunters, and 20% are proposed directly by the Aladdin community, in order to fulfill the AladdinDAO's purpose of collective value discovery, diversified diligence, policymaking, and community development. The community must elect all of the nominated Boule Members through a decentralized governance procedure.

The number of boule members will fluctuate in tandem with the DAO's TVL (a formula to determine roles in the election process), much as the expansion and contraction of asset management managers. Top boule enthusiasts can advance through the ranks to become system talent hunters. The algorithm will reduce their ranking and finally compel them to leave the Boule in the down cycle if they do not perform.

Members of Boule Plus

Members of Boule Plus can acquire prizes through a voting system identical to Boule. Anybody can join Boule Plus if they meet the following requirements (the conditions can be modified through community governance).

  • Passed at least one of AladdinDAO's quizzes
  • Has a verified & active Twitter handle
  • Has staked a specific number of ALDs 

Developers Of Strategies

AladdinDAO's strategy developers are in charge of performing technical integrations of liquidity mining software and developing strategy contracts. They receive a portion of the performance fee from mining rewards on top of ALD incentives.

Members of the DAO

A member of AladdinDAO could be anyone. All DeFi fans are invited to join this platform.

How To Apply To AladdinDAO (ALD)?

To apply for your project to AladdinDAO, a project proposal must be drafted. Any project can request yield farming curation services from AladdinDAO. Basic information regarding the project and related liquidity pools should be included in the project proposal. The proposer must pay a fee of 2,000 ALD for the project to be accepted for evaluation.

Boule Members will evaluate the request for inclusion in the AladdinDAO after it has been presented. After reviewing the proposal, Boule Members can vote on whether the proposed liquidity pools should be included in the AladdinDAO or not.

Every month, each boule member is allowed four votes. Boule members must carefully examine their options and vote solely for the project that they feel has the highest promise in terms of value. They can greenlight a project by giving it an upvote or downvote if they don't like it.

Any project that wants to be listed on Aladdin for liquidity mining must meet at least one of the following requirements:

  • Over half of the votes and the majority of the ballots are in favor
  • The number of "Yes" votes is 20% more than the number of "No" votes

Given the high costs of listing new projects, these criteria ensure that adequate unanimity can be reached. They also guard against any hacking and collusion throughout the voting process.

Any boule member who strongly disagrees with the collective Boule's decision can request a vote of all ALD token holders. If the following circumstances are satisfied, a judgment can be overturned:

  • A quorum of more than 20% of the circulating token holders is required to participate
  • Over 51% of people agree

AladdinDAO (ALD) Tokenomics

The total number of ALD tokens available is 999,978,240. 200,000,000 ALD tokens will be created during the TGE, consisting of LBP, airdrop, and ALD TVL Option tokens (an additional backup of ALD tokens for the DAO is also available to utilize in line with TVL-based community governance). The remaining 80% of the token will be issued on a block-by-block basis over the next four years via liquidity mining.

The DAO will handle the AladdinDAO treasury. The revenue will be utilized to develop the Aladdin ecosystem, which will assist all ALD token holders. The treasury will offer resources (such as code audits, community, and marketing expenditures) to help the community accomplish AladdinDAO's objective of bringing together the brightest minds and direct users to high-quality initiatives that benefit the community.

During Initial Token Mining, 100,000,000 ALD (ten percent of total supply) will be issued to the market in the first four weeks (200,000 blocks) to speed up the early growth of AladdinDAO.

70% of the total supply, 699,978,240 ALD will be mined in about four years (10,400,000 blocks). It will be distributed as follows:

  • Providers of Liquidity - 29%
  • DAO Mining - 31%
  • Participants - 30%
  • DAO Reserve - 10%

AladdinDAO (ALD) Price

The AladdinDAO (ALD) token is not officially launched yet. For official news about the launch of AladdinDAO (ALD) follow their Twitter account (@aladdindao) and keep checking out their website.
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