FAQ
No one owns DumbleDAO. The DAO consists of members who help maintain the digital assets and portal developments, .
- 1.$DUMBLE Token Holders
- 2.Core Team Members
DumbleDAO is not a registered company. We are a collection of token holders who agree to be governed by a set of smart contracts on the Binance Smart Chain.
A DAO is a decentralized autonomous organization, a structure used by many DeFi and crypto projects to govern their protocols. Decentralized — as there can be many DAO token holders with no single party having unilateral control. Autonomous — as any action successfully voted in by the DAO can be automatically executed on-chain without an intermediary.
"Decentralized" and "Autonomous" is a spectrum, with many projects including DumbleDAO moving towards this goal over time. There are many factors early on to consider such as:
- We do not yet have the voting mechanism developed. Because of this limitation we will be running polls through twitter to help determine the decisions and direction of our DAO. After development we will transition towards a hybrid on-chain delegation structure to keep costs such as gas fees low.
- The required efficiency of a centralized dev team and administrators during the early stages of the project.
As with any crypto project there is a chance for complete loss of funds, exploits, or bugs in the smart contract, or malicious actions, or mistakes made by multi-sig administrators. Our phase 1 design is relatively simple and uses battle-tested industry standard components. We use Gnosis Safes with 4 total signing keys spread across our team to ensure the DAO Treasury remains safe and secure.
We are inviting the community to collaborate: be a community member, NFT Advisor, partner, token holder.
Community Members: Non-token holders can participate in our social media channels (telegram, discord) and follow us on Twitter, to share ideas. Good ideas may be adopted by $DUMBLE token holders.
NFT Advisor (Dumble Dorks): Individuals can help us research and discover the best NFTs to be added into the treasury. Preferably assets would have a high-yield passive revenue or hold a high value within the community at large. Newer up-and-coming projects with the proper criteria are welcome as well. Ask the community for a list of what we are looking for.
Partners: We welcome any DeFi or CeFi project that can contribute to DumbleDAO, or are willing to look for ways for our projects to work together. The main types of partnerships we are looking to do is partner with up-and-coming NFT projects where we raffle off one of their NFTs to our community members in exchange for cross-promotion. Please get in touch with us for more information about partnership possibilities.
Token Holders: $DUMBLE token holders can propose and vote on the direction of DumbleDAO and the use of DumbleDAO treasury assets. Additionally token holders will receive profit sharing that may exist in the future from the passive revenue from, and sales of; assets within the treasury. The percentage of profit sharing will be determined by your percentage of tokens held at the time of distributions.
$DUMBLE is a token based on the Binance Smart Chain blockchain network and offers the holders access to reward sharing from the sales of any assets held within the treasury as determined by the DAO members. It is based off of the BEP-20 token type. The $DUMBLE token contract address is: 0xf942eA9174DDA116EECcBeDf71a4951E428a266E and can be viewed on BSCscan.com at the following link: https://bscscan.com/address/0xf942eA9174DDA116EECcBeDf71a4951E428a266E#code
There are 7,777,777 tokens in existence as of this writing. We have built a burn function into the smart contract and anticipate burning a portion of the supply during certain events throughout the lifecycle of DumbleDAO. For example, we may hold community contests, announcements, or other milestones that may trigger a token burn. Additionally, we intend to sell a Dumble Doge NFT Collection priced in terms of $DUMBLE tokens. A portion of the raised funds from the NFT Collection will be burned.
There are a wide variety of wallets that support the Binance Smart Chain Network. Our preferred method is to pair a hardware wallet like Trezor or Ledger with Metamask for added protection. However there are a variety of wallets out there. Our advice is to check their compatibility with the Binance Smart Chain Network as well as the decentralized exchange PancakeSwap.
After the launch there will be an Airdrop to subscribers of the Hodlnomix YouTube channel.
We have reserved 15% of the token supply to promote the DAO, entice new partnerships and offer staking rewards. For $DUMBLE tokens held in the DumbleDAO treasury, any free token distributions will need to be proposed and voted on.
The DAO Treasury will generate revenue through a 5% tax collected on each DEX (Decentralized Exchanges) transaction. We anticipate this to be small at first but grow overtime as the DAO becomes more popular online. Additionally the Treasury intends to buy and flip NFTs and NFT related tokens in an effort to increase the value of the fund.
Last modified 1yr ago