How the DAO works

Lets discuss how the Mintable DAO works and is different from other DAOs

Traditional DAO:

  • Governs mostly investments and monetary value.

  • Decentralized method of community power/delegation of direction.

  • Runs on an ERC20 that is volatile and can be pumped and dumped.

  • Requires the monetary value to be staked/spent in order to get votes.

  • Provides some potential income/profit for participating.

Mintable NFT DAO:

  • Completely novel – no one has created an NFT DAO before.

  • No ERC-20, only NFTs.

  • Voting power is earned directly via participation and engagement in the platform.

  • Governance of future direction and features of the Mintable platform.

  • Cannot be pumped and dumped as it is non-fungible, as compared to fungible ERC-20 tokens.

  • Each person has their own unique NFT that can be traded or purchased.

  • Ability to add yield farming/staking into the voting NFTs if voted upon.

Mintable wants to be community-driven, decentralized, and flexible. To do that a DAO is the best choice.

Here is how it works:

The DAO doesn't take ERC-20 tokens for voting, but instead uses NFTs. In order to submit proposals or vote in a proposal, you need a voting NFT with more than 10,000 votes to propose, and any number of votes can be used for voting.

Each person who wants to vote would receive a Voting NFT that contains their voting power on it. Each Voting NFT is unique, and each Voting NFT is given to users automatically when they purchase/sell an NFT on the marketplace for over the required amount to earn votes.

Earn votes -> Propose changes -> Vote on changes -> Repeat.

Each change could change something small, like a font style, or something major like revenue sharing. Meaning in the future votes might be redeemable for things - might be rare, might be pegged to another token or stable coin, etc, etc.

How you can get votes (which is an NFT)

There are 3 main ways to get votes ($MINT)

  1. Buy/Sell items on the marketplace.

  2. Buy votes directly from the smart contract/bonding curve.

  3. Buy them on a secondary market.

see this guide for a more in-depth explanation : How to earn votes