...DAO Is Not Perfect
Last updated
Last updated
Anon: How about the semi-DAO part though... why are you always trying to be different? Just call it a DAO!
Narrator GPT: Well, to answer this, let's try to understand first... what is a DAO?
DAO stands for Decentralized Autonomous Organisation. DAOs offer automated efficiency by built-in smart contracts, a high transparency in organisation and removing the need of a central authority.
The drawbacks of DAOs are that it is relatively inefficient in decision makings - since all members have to vote on proposals.
Moreover, decentralized governance is not as decentralized as it seems - taking the example of Uniswap:
Anon: So how is a semi-DAO different huh?
Narrator GPT:
At Metaland, all NFT holders are a part of our governance committee. There are different rankings in NFTs - representing different governance and voting rights.
We balance between efficiency in decision-making vs. decentralization - a key concept of being a semi-DAO.
Our Team will participate in the governance committee, hence we call this a semi-DAO model. However, not all functions at Metaland requires our Team's involvements.
