420 DAO Launch on Avalanche Network
After months of preparation, we are thrilled to announce that we will officially launch on Avalanche network at 4:20PM (UTC) on the 2nd April 2022. The launch means a wider audience will have access to 420 DAO’s technology and the decentralized world it has become a part of.
Users can buy and stake tokens directly on the 420 DAO dApp at app.420da.org and become 420 DAO’s members who can vote on all decisions regarding the DAO’s activities. The voting power is represented through the governance token — 420 (ticker: $420).
420 DAO’s activities
At its core, 420 DAO is committed to the development of the decentralized digital world. This works through the 420 DAO Treasury, which is owned by its token holders. With funds raised from token sales, 420 DAO will invest in either lucrative crypto projects, DeFi low-risk yield farms or institutional hedge funds. The final decisions of how and where to invest lie in the community’s hands.
Apart from investing, 420 DAO also puts a strong focus on building its own technology. The first version of our dApp, which is a platform for users to deposit and stake tokens, has been built and developed by the talented 420 DAO’s developers. In the future, decentralized applications will also be developed by the 420 DAO development team or by other teams with support from the ecosystem. All these applications will be geared towards the creation of a decentralized world.
What’s special about 420 DAO?
420 DAO’s staking APY will start at 420,000% then gradually decreasing afterwards according to its tokenomics. In terms of token supply, there are a total of 420 million tokens that will be released into the market over a 12-year period at least.
The tokenomics of 420 DAO, just like the community itself, is guided by advanced mathematics. The tokens will be released using a double-halving mechanism in order to strengthen its value over time. There are 4 phases of its token issuance when both the quantity of issued tokens as well as the duration of each phase decrease by half compared to the previous one.
New members are able to join the fold by taking part in one of the daily auctions of the native token. Each day of the first 420 days of the project’s existence, 100,000 tokens will be made available for auction and those who financially invest in the pool will be matched against the token bundle for sale that day.
420 DAO is also introducing the novel concept of membership value. This means that each member is a direct part-owner of the Community Reserve Pool and also has the chance to contribute ideas to the ecosystem. The contributions of a 420 DAO member is seen as both financial and non-financial and this is a level of inclusion that is not usually seen in the market.
The team behind 420 is also made up of experts in mathematics, algorithms, quantitative finance, blockchain, and much more. All these mean that as various projects and products are rolled out from the 420 DAO ecosystem, there will be a wealth of technical guidance. To find more about them, click here.
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