Introduction to Bee DAO (Decentralized Autonomous Organizations)
Background
Blockchain technology has been transforming our financial system with unique properties such as trustlessness and immutability that are useful in monetary applications.
Another potential aspects ripe for disruption by this technology is governance. Blockchain can enable entirely new types of organizations that can run independently without the need for coordination by a central entity or authority.
What is a DAO and how does it work ?
DAO is decentralized and autonomous. All transactions of the organization are recorded and maintained on a blockchain.
It’s decentralized because no one entity has the authority to make and enforce decisions. And it’s autonomous because it can function on its own. Once a DAO is deployed, it cannot be controlled by a single party but is instead governed by a community of participants. If the governance rules defined in the protocol are designed well, they should steer actors towards the most beneficial outcome for the network.
DAO consist of a set of members interacting with each other according to a self-enforcing open-source protocol. Maintaining the network safe and completing other network tasks is rewarded with the native network tokens and fully transparent rules that are written into the piece of software, which is enforced by machine consensus. There are no bilateral agreements. There is only one governing law — the consensus protocol or smart contract — regulating the behaviour of all network participants.
What is a Bee DAO ?
Bee Dao is the consensus protocol or smart contract developed on Binance Smart Chain (BSC) with innovative DeFi product which community gets rewarded in ecosystem tokens. We focus on creating and developing various innovative DeFi products for BSC and support fair launches for the community.
BDAO is the token of Bee Dao ecosystem which has 4 functions as follows :
▪ Staking
BDAO holders will earn a portion of the trade fees based on the amount of BDAO held relative to the weight of the staking. Where the tokens are staked to ensure the network remains secure. when you trade, each transaction has a 5% fee applied, which will be redistributed instantly to all holders of the BDAO token. BDAO is also a governance plus utility token, using which the community can exercise rights on development of projects from our ecosystem.
▪ LP Rewards.
The initial phase of our liquidity reward program is designed to incentivise the BDAO/USDT in PancakeSwap Liquidity Pool (LP). During the first phase of the Liquidity Rewards Program, a total of 1,000,000 BDAO will be distributed to BDAO/USDT liquidity providers on PancakeSwap. BDAO token rewards will be distributed to PancakeSwap liquidity providers who stake their LP tokens.
▪ NFT Market Place
A non-fungible token (NFT) is a digital file whose unique identity and ownership are verified on a blockchain. Bee Dao will be launching a fully decentralized with easy to use interface NFT marketplace, allowing users to uploading files, such as digital artwork, to an auction market. This creates copies of the files, which are recorded as NFTs on the digital ledger. The tokens can then be bought with cryptocurrency and resold. More details will come in our articles.
▪ Governance
Bee DAO provide an operating system for open collaboration. This operating system allows individuals to collaborate based on the consensus protocol or smart contract. BDAO token holders should be people who somehow interact with the ecosystem, committed to its future development, and want to participate in governance. BDAO token holders will give users voting rights for the development of ecosystem. This is how we aim to truly decentralize and harmonize community members of BeeDAO.
**************************************************************
About BeeDAO
Bee DAO is a Community-governed DeFi Platform & The Gateway to DeFi Blockchain through Liquidity and Protocol Aggregation, focusing on Swapping, Staking, LP Rewards, NFT Marketplace and Governance.
BeeDAO aggregates the best liquidity sources from the entire DeFi space onto a single dashboard or platform that allows anyone with any level of knowledge to take part in the growing DeFi landscape. With our AI-powered Yield Engine, BeeDAO offers customized DeFi investment recommendations to users based on their unique set of requirements, risk levels, and allocation opportunities.
Follow and join our social media :
• WEBSITE : www.BeeDAO.org
• TELEGRAM NEWS : t.me/Beedao_News
• TELEGRAM COMMUNITY : t.me/Beedaoo
• TWITTER : twitter.com/BeedaoOfficial