Establishing WOO DAO’s Mission and Guiding Principals
WOO DAO is working towards enhancing community engagement to expand the WOO Network across the Web3 world
WOO DAO was created with the belief that everyone should benefit from the future of open and decentralized finance. Therefore, we are building the infrastructure to connect traders, exchanges, institutions, and DeFi platforms with democratized access to the best-in-class liquidity and trading execution at zero or low cost. Everyone should own Web3. Want to join us?
Background
- In early December 2021, WOO Network allocated around 300m WOO tokens to the formation of a new decentralized organization — WOO DAO.
- The DAO is based on Discord. Anyone with 1800 WOO on Ethereum, Polygon, BSC, or staked on WOOFi or WOO X is eligible to join the voting process.
- First initiatives involved establishing a mission statement and guiding principles, developing frameworks around managing risk for the WOO DAO treasury and providing liquidity on Uniswap v3.
What is WOO DAO’s mission?
WOO DAO aspires to become the most forward-thinking and action-orientated community-led organization with the dual objectives of supporting ecosystem growth and sustainably managing the treasury, and in doing so, maximizing long-term WOO token value.
On a practical level, the immediate goal of WOO DAO is to create a sustainable source of revenue and use it to grow all aspects of WOO Network, driven by the community. This means leveraging the DAO treasury and the network of contributors to participate in a range of activities such as liquidity provision, yield farming, investment and asset management, DAO-2-DAO services, grants and bounty programs, marketing campaigns, and other growth initiatives.
When deciding what initiatives to take part in, it helps to have some guiding principles:
- Drive user growth for WOO X, WOOFi, and WOO DAO
- Form partnerships with strategic applications and protocols across DeFi
- Remain blockchain network agnostic and support many ecosystems
- Use treasury initiatives to fund WOO DAO’s growth sustainably
- Provide services to other DAOs to increase revenue and influence
- Increase demand, utility, and awareness for the WOO token
What are WOO DAO’s values?
- Bold:
WOO DAO will strive to be the leaders when it comes to innovating our capital deployment strategies and focusing its resources to promote the interests of the WOO DAO and the WOO token holders.
- Agile:
In a dynamic, fast-paced environment, WOO DAO will strive to be first, be fast and beat the trend by regularly researching and engaging with innovative protocols and ecosystems.
- Empowering:
Teamwork, knowledge-sharing, and support to equip each DAO member to individually and collectively help WOO DAO flourish across all regions and industry verticals.
- Integrity:
WOO DAO will operate transparently and build trust through promoting openness, ethics, and financial auditability.
Why and how can people contribute?
At its core, WOO DAO is essentially a company with a large balance sheet made up of individual contributors. This is an incredible opportunity for participants with an interest in decentralized finance to be involved with a flexible degree of commitment. All users are invited to participate in the various working groups by joining discussions, calls, and offering to contribute directly to DAO initiatives.
Work in the WOO DAO is currently split among four key working groups:
- Operations: governing and improving WOO DAO itself, creating efficient administrative processes and channels for communication.
- Treasury management: growing the treasury and creating revenue so that the DAO can fund initiatives and compensate contributors in a sustainable manner. The treasury is split into three buckets: providing liquidity for the WOO token, generating PnL for the DAO, and swapping for other strategic assets.
- DAO-2-DAO (D2D) relations: Facilitating partnerships, providing services to other DAOs and encouraging participation in external governance to generate influence.
- Growth: increasing the user base of all WOO ecosystem products by identifying growth initiatives and empowering DAO members.
Regular contributors who demonstrate the ability to act in good faith and represent the interests of WOO DAO can be given a more formal role within the different working groups and may be entitled to compensation and performance bonuses depending on the role itself. For more specific tasks, grants and bounties can give members guidelines for more short-term, focused participation.
Some quick links for those interested in learning more:
For more info, be sure to follow us on social media:
- Reddit: https://www.reddit.com/r/WOO_X
- Website: https://woo.org
- Twitter: https://twitter.com/WOOnetwork
- Discord: https://discord.gg/woonetwork
- Telegram: https://t.me/woonetwork
- Telegram Announcements: https://t.me/woonetworkann
- Medium: https://medium.com/woonetwork
The content above is neither a recommendation for investment and trading strategies nor does it constitute an offer, solicitation, or recommendation of any product or service. The content is for informational sharing purposes only. Anyone who makes or changes the investment decision based on the content shall undertake the result or loss by himself/herself.
