bnugDAO Documentation
A DAO Leveraging a strong community to build an inclusive financial ecosystem agile, collaborative, diversified, and transparent!
What a DAO means to us
A DAO, or decentralized autonomous organization is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members, and not influenced by a central government. A DAO is a set of Smart Contracts running on a blockchain that coordinates multiple parties to achieve a specific goal.
All of the BNUG Community rules and financial transactions are recorded on the Blockchain.
All the community's decisions, where and how to spend funds are made via reaching a consensus.
This makes BNUGDAO fully transparent, immutable and incorruptible.
Key things about DAOs;
Member-owned community without centralized leadership.
A safe way to collaborate with internet strangers.
A safe place to commit funds to a specific cause.
It is an effective and safe way to work with like-minded folks around the globe.
DAOs are digital representations of traditional organizations, which have a common purpose, coordinated effort, division of labor, and trusted authority.
Goals
About a year ago, the Blockchain Nigeria User Group, a vibrant group of Blockchain and Cryptocurrency developers, enthusiasts, and investors helping to drive adoption and awareness of the Blockchain industry in Nigeria and across Africa, voted to migrate the community into a DAO on her Telegram Group.
We intend to create an organization that can fully function without hierarchical management. A DAO Leveraging a strong community to build an inclusive financial ecosystem agile, collaborative, diversified, and transparent!
We desire to tap into the wisdom of the crowd!
Specifications
First, every DAO has to have some kind of internal property, a token that can be spent by the organization or used by the community to reward certain activities within it, which the majority consider valuable. BNUG Token is that internal property that could be owned by anyone. Secondly, by investing in BNUGDAO Token, every user gets voting rights and subsequently the ability to influence the way BNUG Community operates. This is what holding BNUG Token can do for a hodler. Ownership! The BNUG Token is a unit of value that is created by the BNUG Blockchain community to self-govern its business model and entire value chain, which empowers every user to interact with the ecosystem products and services, while facilitating the distribution and sharing of rewards and benefits to all of its stakeholders. Owning a BNUG DAO token bestows a right that results in product usage, a governance action, a given contribution, voting, or plain access to the ecosystem product or market. All of the BNUG Community rules and financial transactions are recorded on the Blockchain. All the community's decisions, where and how to spend funds are made via reaching a consensus. This makes BNUGDAO fully transparent, immutable and incorruptible. Everyone who is holding a stake in the BNUGDAO Token can make proposals regarding BNUG's future. BNUGDAO is a community-driven initiative designed to empower members with the skill set required to continuously win in the decentralized future. As we collectively create more value, that value flows back to the BNUG token, shared by all community members on our platforms. BNUG Tokens are minted to generate BNB dividends continuously,... every single time any other member of the community buys, sells or transfers BNUG tokens.
Our Tokenmetrics
The key objective of a DAO is value creation or production, and to make that happen, there needs to be a specific linkage between user actions and the resulting effects of those actions on the overall value to the organization.
The utility role of the BNUG token is a primary consideration in the success of the models that intend to exploit their powers.The BNUG Token holders are linked together because of their shared purpose, goals and interests. The main aim of BNUG DAO is to make our community and token holders work together to make decisions that will improve the well-being of the entire blockchain community over time.
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