How the DAO works
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 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.
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.
There are 3 main ways to get votes ($MINT)
Buy/Sell items on the marketplace
Buy votes directly from the smart contract/bonding curve
Buy them on a secondary market
see this guide for a more in depth explanation