A New Chapter for OptionPanda: OPA DAO Preliminary Plans
Since the advent of “DAO” (Decentralized Autonomous Organization), it has clearly shown potential much broader than being an “organization”. Rather, being a social group, by bringing people together to work toward a common goal, it enables digital democracy and decision-making and creates a borderless, transparent and fair form of organization that will have a profound impact on the whole society. We believe that DAO will be the ultimate form of crypto society and economy!
OptionPanda team members are veterans of cryptocurrency transaction in want of a more transparent, fair, non-custodial and trust-free cryptocurrency space. We are committed to providing users with high quality DeFi options product, believing that a DAO organization based on the blockchain will inject new vigor and momentum to OptionPanda.
This is why our team has decided to establish the OPA DAO and release our preliminary plans. By allowing the community to govern and involving the platform token holders to determine the roadmap, we aim to achieve truly decentralized governance.
Preliminary plans for the establishment of OPA DAO
Purposes of the plan:
To enhance the consensus on the value of OPA;
To create scenarios for OPA applications, burning, repurchase and lock-in;
To lead the community in mining the token value of OPA;
To establish a more scientific up-coin system and decision-making mechanism through DAO governance
Governance of OPA DAO
The OPA DAO will be consisting of community members from OptionPanda, governing everything in the community.
Governance of DAO will be proposal-based. Any OPA user holding more than $10,000 tokens can initiate a proposal; all token holders are eligible to participate in the voting.
The voting will include, but not limited to, the following scope:
— voting on new assets underwritten by the option — voting on the release rate of the OPA
— voting on OPA’s pool allocation
— voting on OptionPanda’s operational strategy (e.g. what exchanges OPA will be listed on)
— voting on OptionPanda’s community ambassadors
…
Relevant OPA Tokenomics of DAO
1. Lock-up
Users need to lock their positions to obtain voting rights. They can also enjoy staking income during the lock-up period.
2. Voting
Please note that voting will consume a certain percentage of OPA, which will be used to create a prize pool to reward all users who participate in the voting. It will also be used to support the new assets going live on OptionPanda. Please refer to the voting page or event page for specific rules.
3. Voting on new assets
In order to encourage more high-quality assets to go online on OptionPanda, we will provide a 72-hour voting period on the 16th of each month, during which all OPA token holders can vote (1 OPA = 1 vote), and the asset with the most votes will be listed on OptionPanda on the 1st of the following month.
There will be prize pool to encourage more users to vote and a certain percentage of OPA will be used to attract more valuable assets. More specific rules of voting will be released when the first vote begins.
As a community-driven DeFi options protocol, OptionPanda will be further empowered by OPA DAO, becoming a community-oriented organization featuring decentralized governance.
