We propose to launch the “WavesDAO” on the Power Protocol platform as a For profit DAO dedicated to funding the development of Waves Blockchain-based projects and initiatives. $PWR stakers will govern the DAO, Each governor must stake 1 PWR tokens to be included, and a minimum total of 100 PWR must be staked for the initiation proposal to succeed. In the initiation period, The WavesDAO will receive a donation of 20,000,000 $XTN (worth ~$1M) from Sasha’s public account (3P84evXSWMchYMa6hkLLRmQ4usHf4cNsjNp) to initiate the DAO.
The collected treasury will be invested into projects that aim to develop the Waves blockchain and its ecosystem including:
- ChildDAOs built on Power Protocol
- Decentralized social projects
This investing aims to grow the Treasury Net Asset Value (NAV) at least 10% in the first 3 month KPI period.
All Investors will receive LP tokens in exchange for their WAVES, these tokens can be sold on the open market during the KPI period. Once each 3 month KPI period is complete investors can withdraw all funds with profits.
Risks are mitigated by the Power Protocol slashing functionality: Any governor contributing to voting that leads to NAV depreciating more than 20%, will have their $PWR stakes slashed via governance vote.
The following metrics will be used to evaluate the success of the WavesDAO:
- Treasury NAV is in profit >10% in 3 months = 20% Profits distributed to governors and 80% to investors.
- Treasury NAV is in loss >20% in 3 months = Governors are slashed at an equivalent percentage of their stake and their PWR is burned.
- Treasury NAV is between 9% profitable and 19% loss = New KPIs are agreed in governance vote for next period.
The WavesDAO will provide a platform for community members to invest in Waves based projects and development. The DAO’s treasury will be managed by $PWR stakers, with skin in the game and 1 PWR staked each. The goal for initiation is funded via a donation of 20,000,000 $XTN (worth ~$1M) from Sasha’s public account (3P84evXSWMchYMa6hkLLRmQ4usHf4cNsjNp). The goal for activation is to increase NAV by 10% in the first KPI period of 3 months. Success in achieving WavesDAO’s goals will mean governors are rewarded with 20% of profits and investors with 80%. Those governors who can be seen as making failing bets contributing to NAV losses of more than 20% will have their $PWR burned. Every three months, KPIs will be recalculated, and profits will be paid out to managers and investors.