It’s been less than 4 days since DEGO Telegram group was created to assist supporters and future yield farmers of the DEGO Ecosystem understand the project. We are pleased with the positive vibe of the community, growing from 0 to more than 800+ active participants.🎉 DEGO team expresses our gratitude and love of the community towards our project.
In our perspectives, DEGO is the LEGO in the DeFi world which differs from MAKER DAO, COMPOUND, YFI and even the recent SUSHI in diversity, creativity and fairness. We hope that DEGO will be a work of art in the world of blockchain which represents freedom, equality, openness and innovation.
DEGO team is entirely grateful and feels more motivated by the numerous investment offers we have received from VCs and angels even though we could not accept due to our community governance mechanism. Apart from the Presale and the 1% airdrop, any other DEGO token can only be used after the approval of DEGO DAO governance. DEGO is a complete governance token and we hope that it can spread around the world. Everyone can participate in DeFi equally and being a part of DEGO ecosystem.
Two Stages of DEGO DAO
Stage I Internal Created
DEGO Team members are from different backgrounds and cultures across the world. Our common interest, values and vision brought us together to form a unique and stable team. To realize the full openness and transparency of the initial decision-making of the project, we will select 5 internal representatives based on the current team composition to decide the initial operation of DEGO Protocol.
We will set the Governance permissions of each contract as a multi-signature wallet, and make adjustments and decisions through a 3/5 decision-making mechanism.
The initial earnings will also be aggregated into this multi-signature wallet to achieve the goal of governance by the founding team.
Stage II Transfer of Power to the Community
After a certain period of the normal operation of the project, the community determines the co-holders of the multi-signature wallet through the mechanism of proposal and voting. DEGO DAO is designed to be run by community members in a clear, transparent manner. The community can vote on proposals to change the system parameters and to align the individual’s desire for profit with the protocol’s best interest.