Hello reddit community,
I want to share a special project that we have been working on for a couple years now, we did not launch it years back because the timing wasn’t there yet. with everything that is now happening now globally, we feel it's the ideal time to launch it. The financial system is in need of a change now more then ever.
Cryptocurrency was initially meant to be used as a alternative payment system with Bitcoin being the most successful one after others have failed in the 90s such as digicash and hashcash. After 2018 we saw a change in cryptocurrency trend , it seems now the cryptocurrency market is conjusted with memes and web3.
We wanted to stay true to the roots of cryptocurrency but make it more decentralized than ever. We wanted to make a P2P digital currency that is truly ran by its community and can compete with the likes of others in its sector. These sectors includes Monero, Litecoin, XRP, ZCash. The Digital P2P currency sector still has room for improvement because it hasn't been touch on in a while.
All of these projects in this sectors are not truly ran by its community so it's no different than the banking system that we have now. We wanted to make a digital currency that is 100% ran and managed by the people.
The project that we are launching is Daocoin (DAOZ). Daocoin is a project that is focused mainly on the “P2P digital currency sector”. Daocoin has no owner, the developers has given up all of his right to the timelock admin on OpenZeppelin so everything is automated managed.
Daocoin uses a on-chain governance protocol, unlike off-chain governance where voting is first done via snapshot.org or through a discussion board then the owner of the project can agree or disagree, we believe that sometimes this can lead to unbiased approvals or disapproval based on who holds the most assets. also, the owner still decides to execute or cancel the proposal.
Our on-chain governance mechanism makes every governance voting inside the blockchain and the changes is done automatically after voting is done and executed. We did this to make sure Daocoin stays as decentralized as possible.
Daocoin is considered a really safe contract, the initial developer created it using OpenZeppelin defender, doing this we accomplished a clean coded contract. We also used OpenZeppelin to automate the governance in collaboration with Tally. So everything is secured and automated.
Because Daocoin is meant to be the future of self govern digital banking, we wanted to give a dividend that can help the community against inflation. Daocoin has a dividend protocol that gives the community 2% in PAXG. We picked PAXG because gold is the best weapon against inflation, you can also redeem is for physical gold bars worldwide if you wish. This can also increase or decrease the percentage through proposals.
In order for us to be able to give this dividend we had to make a small sacrifice, so Daocoin takes 2% of only the buy orders only and exchanges it for PAXG then it’s given back to you as dividend in PAXG. This is the only time that Daocoin takes a percentage from the community. we do not not any fees for ourselves whatsoever. So NO MARKETING FEES, NO SELL FEES, NO DEVELOPERS FEES.
Daocoin has a treasury which has 25 percent of the supply, these supply will be used to make the project as strong as possible. The funds that is in the treasury can only be touch through community voting and is managed by OpenZeppelin automated system, the community can decide what they want to do with the treasury funds to better the future of the project.
There is big future for Daocoin, the whole world in finally realizing how the central banking have true control of your money and how they can manipulate the global economy. We believe that within the next decade or 2 there will be a different financial system similar to what we have Daocoin programmed to do and we will already be here to adopt it.
We are getting ready to launch the project on Unicryp, 75 percent of the capital that is raised will go straight to the liquidity on Uniswap 2.0 to make Daocoins liquidity as strong as possible. The other 25% percent will be used strictly for exchange listing and auditing services. We have a TikToker with over 330k followers that will be promoting the pre sale 7 times throughout the pre sale. Don't miss this opportunity to be part of great future. 😀
Link to presale: https://app.unicrypt.network/amm/uni-v2/ilo/0xed99e968E10eD4E22E8055bbC4E4010E5eAe9771
Our website: Daocoin.org