Metis Creates New Framework DAC
So many might get bothered or wonder why this, allow me throw in some clarity. Now Metis as we all know is for the people and in all endeavours aims to serve the ecosystem better.
Firstly let’s understand what DAO is?
DAO is an acronym for Decentralized Autonomous Organization and can be described as an open-source blockchain protocol that is governed by a set of rules created by its members to automatically perform certain actions without the need for an intermediary. So basically, a DAO is a structure in which token holders participate in corporate governance and decision-making. Hence, there is no central authority for the DAO. Instead, power is distributed among token holders who collectively vote.
Now, I would highlight the issues in DAO which makes Metis look the other way to DAC
1) Limitations of voting power: Since DAO is solely dependent on voting which also requires the possession of the DAO token to enable you vote might seem unfair. Why? They’re possibilities where a group of investors can accumulate a greater part of the DAO token which automatically gives them the higher voting power on the grounds of accumulating a greater portion of the governance token.
But what if these accumulated percentage of governance tokens by these users are used for irrational proposals or selfish interests? I will leave you with that to answer.
2) Sluggishness in response, in respect to decision making on projects development: The DAO is made up different members from different time zones, undoubtedly, vote collections are not done quickly, Since a voting mechanism is always deployed which in real sense is time consuming and changes cannot be implemented without voting, therefore slows down the progress of that project.
Imagine if a DAO required an immediate change to smart contract code to fix a security hole. The code cannot be changed without the agreement of all members of the DAO. As a result, organizations can lose valuable time resolving security breach concerns.
3) Safety: One of the issues facing digital platforms for all blockchain resources is security. Implementing a DAO requires considerable technical know-how. Without them, the manner in which votes or decisions are made may be invalid. If the structure of an entity cannot be relied upon, trust is lost and users may abandon the entity. Even with multi-sig or cold wallets, DAOs can be abused to steal treasure and empty vaults.
With this, you would agree with me that’s the best move for MetisDAO to build it’s ecosystem.
DAC is essentially an unbounded DAO, going beyond mere governance and voting. DAC performs all the functions of a fully functional enterprise.
With our middleware, all you need is a minimal product that can be deployed from Web 2 to Web 3. DACs can deploy its own decentralized application and tokens with just a click of a button. And the great news is that, there’s room for all users, ranging from roles like, human resources, project management, payroll, communications, etc. not forgetting free accesses.
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