New York City, NY , Feb. 17, 2022 (GLOBE NEWSWIRE) --
It seems to be the beginning of a new era of technology with DAOs, dApps and more. The latest unveiling is the Metaverse DAO which is a revolutionary Farm-as-a-Service project that operates on the Ethereum Chain. The project is designed to allow users to passively earn rewards from yield farming across various networks.
Metaverse DAO makes it easy for everyone to earn farming rewards without farming on their own. It aims to maximize profits and make them accessible to its members simply by holding $MDAO. The funds to farm across different networks will be taken from a Treasury wallet, as mandated by DAO governance, and the rewards will be returned automatically to the dividends pool for participants (investors) to claim as ETH or $MDAO.
Metaverse DAO is also committed to contributing towards building a community-run metaverse. As a crucial part of the project, MDAO suggests allocating treasury funds towards Pay-to-Earn game development, immersive 3D and metaverse experiences, and NFT-based games. It also recommends investing directly into teams and corporations with a long-term vision in Metaverse games and P2E development. This will be achieved through community voting as per majority decisions made by Metaverse DAO members.
According to the CEO and founder, James Carter, “We have designed Metaverse DAO in a way that helps the users generate yields passively from a token tax in the form of reflections, claimable on their dApp. This will additionally finance the treasury wallet of our project which helps in earning yields across various blockchains later.”
On how Metaverse DAO stands out, he further explained that it is a Defi 3.0 FAAS and FAAS signifies Farms-as-a-Service Project. Users can claim 3% ETH rewards on their dApp. It is the community that decides the utility of the treasure as high, medium or low risk APY. The treasure also receives a certain percentage of every transaction.
ETH reflections are performed on every transaction with yields returned as ETH and with exponential reflections supported in our native token through the dApp. A non-inflationary token with buyback and burns will be automatically triggered by transactions. Each token provides an equal proportion of DAO governance. The more invested one is in the token, the greater is one’s ability to recommend and enforce investing guidelines.
As per its official website, “MetaVerse DAO is focused on long term and profitable treasury fund allocation. James' mission is to use treasury funds allocated from users towards NFT Game development, 3D & MetaVerse VR Games, along with investing directly into teams and corporations that have a long term vision on MetaVerse games and P2E! This will be achieved through community voting as per majority decisions made by MetaVerse DAO supporters.”
The Metaverse DAO works in three major areas, including treasury revenue, treasury growth and staking rewards.
As FAAS, 3 methods are offered by Metaverse DAO to stack low, medium or high risk treasury funds. It will use the most secure DeFi platform like Curve for low risk. For mid risk treasury funds, Metaverse DAO will provide the most popular project with probability of higher yields with liquidity. In case of high risk, it will consider the platform with the highest risk and highest yield. The Metaverse DAO governance has hired @wizardofsoho who will increase the treasury funds by flipping NFTs, which is considered high risk APY.
James has announced the release of their Metaverse DAO poll voting System. Currently, holders with over 4.8M tokens will be able to create proposals - having in mind to always establish clear titles and proposal backgrounds. Holders with over 1.15M tokens will have Voting Rights for the proposals sent.
Coming to MDAO_DIVIDEND in the wallet, the company explains, these are shares of buyers which are proportional to the $MDAO tokens present on their wallets. More amount, thus, signifies more dividends and higher percentage eventually.
The company has introduced LP rewards on a temporary basis. Metaverse DAO will become more whale friendly and less volatile with liquidity addition to LP. It will also reduce the impact of price on major trades. As rewards, top LP providers will enjoy giveaways of Atlas, Sandbox, Illuvium and other key Metaverse NFT projects. Every 12 days, other LP providers will also get LP investment’s 10% in $MDAO.
$MDAO will be the reserve currency on Ethereum. In order to maintain price stability, Metaverse DAO will use the Algorithmic Reserve Currency algorithm and also be supported by other decentralized assets.
Metaverse DAO depends on a series of mechanisms that guarantee their operation at all times. The first of these mechanisms is related to programming actions and executing them according to specific parameters. With this, the DAO gains the ability to perform actions autonomously. In a simpler way, this programming would be the set of rules that govern the DAO. The most usual form of programming these actions is through smart contracts.
The second mechanism is a consensus protocol which guarantees that the decisions made within the DAO are made by consensus of its parts, stakeholders. No external factor to the network and who wants to participate directly in it can alter or cause them to make decisions.
Next, DAO has a third mechanism that depends on issuing a token or means of exchange, governance tokens. This mechanism aims to guarantee an environment that economically sustains the DAO and allows users to gain voting power while simultaneously being a mechanism for exchange and economic reward.
Innovation and transparency is the MDAO team’s philosophy. With decades of experience in blockchain, programming, marketing, and finance, the MDAO core team has the perfect skillset, knowledge, and expertise to execute a project that can produce utility for the long-term benefit of all participants. MDAO core skills include; blockchain development, web development, business administration, fintech, graphic design, public relations, marketing and game development.
As the company, Metaverse DAO concluded, “After our initial endeavors for the growth of our treasury funds, Metaverse DAO has staked 1/3rd of the fund on Curve now. We shall distribute the profits as dividends to investors.”
They are looking forward to an elaborate roadmap in the coming days, which includes Treasury Staking, Treasury dApp V3 release, listing of centralized exchanges, audit, Metaverse DAO bank, in-person events, cross chain liquidity and more.
Media contacts
Website: https://metaversedao.app/
mail ID: info@metaversedao.app
Telegram channel : Telegram: Contact @metaverseda0
Twitter account : https://twitter.com/MetaVerseDA0
Dextools :https://www.dextools.io/app/ether/pair-explorer/0x2fa8aaba8022ab7bedd18d19e467c4a16a2d19c4
Metaverse DAO dApp : https://metaversedao.app/app/
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