ADAMoracle is welcoming a global collaboration network by starting DAO governance
In just a year, ADAMoracle has jumped from a newly funded project to the second most valuable project in the oracle track. Moreover, ADAMoracle is still growing at a significant rate, with nodes in major regions such as the Middle East, Europe, America, and Asia.
With the global expansion of the ADAMoracle ecosystem, the conventional organizational model has been unable to meet the needs of its development and management. DAO, a new organizational collaboration method that is not controlled by a centralized organization and can achieve self-operation, self-governance, and self-evolution, has become the best choice for ADAMoracle to build a global collaboration network.
Definition, character and the class of DAO
DAO (Decentralized Autonomous Corporations), the D stands for decentralization and fairness; A stands for autonomy, having the freedom to manage and control oneself; O stands for the organization, a group of people with a unique purpose. Conceptually, “DAO ‘’ stands for Decentralized Autonomous Organization. But essentially, a DAO is a group of people pursuing a common goal, using blockchain to make decisions in a transparent and efficient manner.
It is “decentralized” because it runs on the blockchain and empowers decision-making to stakeholders rather than executives or board members; it is also “autonomous” because it uses smart contracts, which essentially an application or program running on a public platform that accesses the blockchain and triggers actions when certain conditions are met.
Different from the traditional “top-down” management , DAO’s “flat management” and “autonomy” attributes are more prominent. All token holders are able to participate in proposals and voting decisions. From an ownership perspective, DAOs belong to all stakeholders such as investors, developers, users, suppliers, partners, etc. From this perspective, autonomy means that the DAO belongs to everyone who can create value for it, and the same is true for the DAO governance that ADAMoracle is about to start. ADAMoracle community members will enjoy the project governance rights by virtue of governance tokens, and jointly enjoy the benefits brought by the project development.
At present, various DAO organizations have initially emerged and have begun to expand at the ecosystem level. Common DAOs can be divided into the following 8 categories:
Protocol DAOs: Decentralized companies that operate by building and executing protocols
Social DAO: Built on a common philosophy, aiming to create a strong community
Investment DAOs: Fund-like, deploying investment plans by gathering capital and investors
Funding DAOs: Incentivize the development of projects beyond pre-existing projects, aiming to build a wider ecosystem
Service DAOs: Similar to “talent aggregators” that bring together human capital available for certain projects
Media DAOs: Collaborative production of public content, including subject categories covered, resource management, and more
Creation DAOs: Similar to fan groups, working for organizations that support idols, creators, or artists
Collection DAOs: Unite collectors around certain assets or collectibles, such as NFTs
Significant advantages of DAOs over conventional organizations
DAOs are more cohesive than regular organizations. The borderless cooperation relying on the network breaks the time and space constraints, and the DAO organization has a wider range of contacts and vision; conventional organizations generally exist in the form of open software, organizational transparency ensures that there is no internal fraud, and the trust within the organization is greatly improved; The non-hierarchical organizational model in which participants have ownership makes everyone the owner of the DAO, and this organizational form linked to their own interests can stimulate the enthusiasm of participants.
Its significant advantages can be summarized as follows:
1. Fully reduce the cost of communication and decision-making. The execution of major events or decisions only needs to be executed according to the contract and the voted proposal, and there is no room for negotiation.
2. Fully reduce management costs. Since there is no management such as a CEO, there is no need to pay additional management fees.
3. Put an end to corruption, favoritism, etc. Every source of funds and expenditure of “DAO” are open and transparent and recorded in the blockchain that cannot be tampered with, so there is no underground transaction, personal corruption, etc.
4. Everyone is equal, fair and open. “DAO” does not have a hierarchical structure, each participant is a witness and a decision maker, and everyone’s suggestions for organizational development are likely to be adopted and used.
5. Benefit sharing and long-term development. Tokens can be traded and transferred. As long as the “DAO” runs better, its tokens will be more valuable, and the participants will get more benefits.
In this way, each participant will make suggestions for the development of “DAO” based on the desire to make “DAO” develop better .
The significance of DAO governance to the development of ADAMoracle
There is a certain inevitability for ADAMoracle to choose DAO governance. ADAMoracle, as the first decentralized oracle that supports wide-area node price feeding, must be “self-driven” in its development momentum. Because its node network is spread all over the world, if the conventional organizational form is used, it will not only cause inefficiencies, but also consume huge management costs. Through DAO governance, it can not only further enhance the decentralization attribute of ADAMoracle, but also fully mobilize the enthusiasm of participating nodes. synergistic effect.
The ADAMoracle ecosystem mainly have three roles: for outstanding community contributors, DAO governance provides a level playing field, allowing them to earn additional income while contributing to the ADAMoracle ecosystem; for price-feeding nodes, DAO governance can make It fully participates in the ADAMoracle ecology, for example, nodes assist projects to make correct development decisions by providing leadership opinions, thereby obtaining investment returns; for teams, DAO governance can fairly realize the distribution of community governance resources. For ADAMoracle, DAO governance is one of the important guarantees for the realization of safe, efficient and accurate data transmission services after oracle products are used on a large scale around the world.