IDEAS

<p>The IDEAS governance DAO will be activated at the beginning of the following month.<br />Below, you will find further details on its functioning, eligibility criteria for participation, as well as the rules and conditions that are applied.</p><h2 id="header-0">Intro</h2><p>The IDEAS governance DAO is a decentralized application designed to grant additional powers to IDEAS holders.<br />These powers include the ability to propose changes aimed at enhancing and upgrading the project, as well as the authority to vote on such propositions, created by the IDEAS team or by the IDEAS holders.</p><h2 id="header-1">What constitutes a Proposition?</h2><p>A proposition can encompass any idea suggesting a modification to the project.<br />Each proposition will undergo a voting process, and if 60% or more of eligible voters cast a &#34;Yes&#34; vote, the proposition will be implemented by the team, provided it is feasible to do so.</p><p>For instance, decisions like the migration to Ethereum, and the burning of the remaining 5 percent from the unclaimed airdrop tokens were made through voting on our social media platforms.<br />However, had the DAO been active during that period, it would have been more advantageous to employ it for decision-making on those particular matters.</p><p><strong>Note:</strong> All critical future decisions made by the team will be determined through the creation of a proposition in the DAO, which will be subject to voting by the token holders.</p><h2 id="header-2">Rules for Propositions</h2><ol><li>Holders have the option to vote &#34;yes&#34; or &#34;no&#34; on a proposition.</li><li>A proposition will be executed if it receives more than 60% of the votes.</li><li>A proposition must be both logical and feasible for implementation.<br />For example:<br />A proposition to migrate to the Matic network cannot be applied as the IDEAS liquidity is locked.<br />A proposition to be listed on Binance is not within our jurisdiction, but we can certainly submit an application at the appropriate time.<br />A proposition to implement a tax on IDEAS buys and sells cannot be executed due to the renounced and immutable nature of the IDEAS smart contract.</li></ol><h2 id="header-3">Rules for Participation</h2><ol><li>Tokens that have been burned, tokens in PancakeSwap, and team tokens locked for 12 years are ineligible for voting on any proposition. Additionally, these tokens will be excluded from the DAO.</li><li>Holders with more than 50,000 IDEAS can create a proposition.</li><li>Holders with more than 10,000 IDEAS can vote on propositions. <br /><br />Note: All numbers in the DAO are subject to change through a future proposition.</li></ol><h2 id="header-4">Limitations of the DAO</h2><p>As we utilize a solution developed by another project, the Governance DAO comes with certain limitations that we need to deal with.<br />One of the limitation we encounter is the inability of the DAO to provide real-time reflection of users&#39; token holdings.<br />To address this issue, we will establish a new DAO each month, incorporating updated information regarding token holders.</p><h2 id="header-5">Holders Registration</h2><p>At the beginning of each month, holders data will be registered.<br />During that particular month, they will have the ability to exercise their voting rights and propose within the corresponding DAO, even if they have sold their tokens following registration.<br />However, in order for holders to participate in the subsequent DAO, they must maintain their holdings prior to the next registration period.</p><p><strong>Note: </strong>limitations will be resolved when we develop our own DAO in the future.</p><h2 id="header-6">Zero Fees</h2><p>To ensure transactions remain cost-free, we will construct the DAO on a test network.<br />Specifically, it will be built on the Goerli test network, which offers free access through faucets available on the internet.<br />We will provide links to these faucets at a later time.</p><p>Stay tuned for further information regarding the DAO.<br />If you wish to become a participant in the upcoming DAO, we encourage you to purchase IDEAS tokens now.<br />Holders&#39; registration will take place on May 31, 2023, at 06:00 PM UTC.</p><p><strong>|</strong> <strong><a href="https://www.ideastoken.com/" rel="noopener noreferrer nofollow">Website </a>| <a href="https://t.me/IDEAS_Token" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://medium.com/&#64;IDEAS-Token" rel="noopener noreferrer nofollow">Medium </a>| <a href="https://twitter.com/IDEAS_TheToken" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://bitcointalk.org/index.php?topic&#61;5366415" rel="noopener noreferrer nofollow">BitcoinTalk </a>| <a href="https://www.youtube.com/channel/UCfQ_y1yC5Je65OOzccOCuoQ" rel="noopener noreferrer nofollow">YouTube</a> | <a href="https://www.reddit.com/r/IDEAS_TheToken/" rel="noopener noreferrer nofollow">Reddit </a>|</strong></p>

IDEAS 💡 - IDEAS DAO!

Table of Contents

IDEAS

Other articles published on May 26, 2023

Crypto Data Aggregator Ranks Top 10 Metaverse Coins by MCAP; ICP Leads

BANANO Monthly Update #60 (April 2023)

Bitcoin Core 25.0 is now available on GitHub

Top DeFi Dapps on Stacks

OkLetsPlay Update: USDT/USD as the primary currency & OKLP as the platform gas token + SWAP & AUT...

How to keep your Radiant safe and secure

Join our free newsletter for daily crypto updates!