DAO

Putting the control in the hands of the community

What is a DAO? (Decentralised Autonomous Organisation)

DAOs are unlike traditional organisations who have a hierarchical control structure, generally private and inaccessible to a community. Centralised exchanges are an example of this; you might want a token listed, but besides a Twitter barrage of, you have very little influence on that decision coming to fruition.

DAOs place the community participants in control of the platform transparently and programmatically. The power of contracts enforced by mathematics means that a large number of automated actions within a contract can be set up and voted on, the results of which will be automatically actioned.

This would mean when applied to the above example; the community would be able to propose and vote on which tokens they want to be listed. On a successful vote, these tokens would be automatically listed. Resistant to external entities, governments and bad actor getting in the way of that decision.

The community is already familiar with the Spartan Protocol ethos being; ‘birthed by the community for the community’ with the initial developers building the platform the way they wanted to see it within the Binance Smart Chain ecosystem. Chosen for its power, speed and low fees

.Having Spartan Protocol run by a DAO was a central pillar of its development. The intent is to release the DAO in stages to familiarise the community with these powerful decentralised decision-making features.

It's also worth noting that with DAOv2, there will be a feature implemented called "Grant". This will allow the community to send a SPARTA grant to a wallet address. The community may choose to reward the active contributors, or maybe even draw some more in by sending a grant to a trusted community member to share it out as bounties to build/fix things.

How do I get involved and influence the direction of Spartan Protocol?

To have your say with proposing assets and allocations to Bond+Mint you must be providing weight in the DAO. You can gain weight in the DAO by either providing liquidity into the SP pools, or by locking LP tokens in the DAO. The future of Spartan Protocol will be decided by the community!

If you want to read a little more into DAO’s, check out this Binance Academy article.