Proposal to Whitelist DAO Maker (DAO) with 100,000 BNT trading liquidity
For this proposal to pass, it requires a 35% quorum and 66.7% supermajority.
This proposal is expected to appear on Snapshot for voting on 2022-01-02T00:00:00Z. Make sure to stake your vBNT for voting before this date and time to participate in the DAO decision.
TL;DR
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Proposal to whitelist DAO.
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Trading Liquidity of 100,000 BNT.
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There are no security concerns that could prohibit whitelist status.
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There is no reason to doubt the legitimacy of DAO Maker. The project was conceptualised in 2017 and has raised over $43 million of funds on the platform for companies.
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The benefit to Bancor is clear. Providing DAO liquidity will attract token LPs from DAO Maker to swap on Bancor, and increase protocol trade volume. Further integrations include having Bancor has a first provider of liquidity for projects launched on the platform.
Token Address: 0x0f51bb10119727a7e5ea3538074fb341f56b09ad
Project Website: DAO Maker
Liquidity
The Deepest DAO pools are:
The DAO/WETH Sushiswap pool with $768,441.44 liquidity and a 7 day average APY of 43.93% [1].
The DAO/USDC Uniswap v2 pool with $3,316,672.88 liquidity and a 7 day average APY of 15.43% [2].
A trading liquidity of 100,000BNT opens up space for at least $692k liquidity in the pool, with BNT at $3.46. If the pool fills up, a trading liquidity limit increase will be proposed.
Token Security
DAO does not have an elastic supply, or rebase mechanism. The DAO token has a max supply cap of 277,524,000 DAO. Contracts are standard ERC-20 OpenZeppelin contracts. The contracts don’t have any permissions that grant administrators unrestricted mint/burn capabilities.
DAO has an S4 “Very Good” safety score on Valid Network.
The top 15 contract and addresses with the highest concentration of DAO are the GnosisSafe multisig contracts and proxies, staking and farming contracts, KuCoin, Gate.io, OKEx and the DAO-USDC Uniswap v2 pool.
Figure 1 - Top 15 contract and address with the highest concentration of DAO [3]
Project
DAO Maker is a platform that aims to redefine venture capital for the masses, by providing scalable technologies and funding support to tokenized startups. This venture capital fund was first conceptualized in 2017. It has since evolved to create low turnout frameworks, which has enabled many retail investors and individuals to become active in venture capital. When funding through DAO Maker, the risks for both parties – the investors and the startups – are significantly reduced.
The DAO Pad is a multi-investment platform that allows DAO Maker’s community members to stake DAO tokens into the DAO Maker Vault. This allows them to participate in public, private and seed rounds of funding, thereby incentivizing the most loyal and active members.
DAO Maker energizes the community and encourages them to participate in the progress and expansion of the projects hosted on the platform through social mining. Social mining allows startups to leverage token holders to become successful decentralized autonomous organizations (DAOs). This improves the economic output of token holders, reduces free-ridership issues and turns flippers into holders. It also offers various risk levels to accommodate a wide range of risk appetites, thereby significantly expanding the audience.
More information can be found on the official website, on the Whitepaper and on the DAO Maker Economics Paper.
Tokenomics
The DAO Maker token (DAO) is the governance token of the DAO Maker ecosystem, which is built on the Ethereum blockchain and allows holders to exercise control over the ecosystem. Since late 2020, DAO Maker has conducted a series of dynamic coin offerings, raising a total of more than $8 million. The token aims to build a decentralized ecosystem, which will serve as a go-to platform for retail venture investing in equity and tokens.
There are about 36 million DAO coins in circulation, with a maximum supply of 312 million coins. About 20% of the max supply will be issued to the team, 5% to the advisors and future team, 24.6% for private sale and only 0.4% for public sale. The remaining 50% will go to DAO-managed foundations as customer incentives, for the ecosystem growth, among others. The distribution schedule is expected to take about 51 months.
Community and Communication
DAO Maker is active on Telegram. The DAO Maker team also operates an official Twitter account, and Medium.
Available Audits
DAO Maker contracts have been audited by Certik and Hacken.
Market and Trading Data
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DAO’s price at the time of writing is $4.80.
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All-time high: $8.71 (21st April, 2021).
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All-time low: $1.24 (22nd July, 2021).
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Price 90 days ago: $2.49.
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68,265,600 DAO in circulation, with a maximum and total supply of 277,524,000 DAO.
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The current market capitalization is $328,749,750.
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The DAO token is available on Gate.io, Kucoin, Uniswap (V2), OKEx, Sushiswap, BitZ, 1inch Exchange, Hoo, Hotbit, AEX, Bibox, Uniswap (V3), Indodax and CoinBene.
[1] DAO-WETH | SushiSwap Analytics
[2] Uniswap Info
