DAO
What Is a DAO?
The term DAO stands for “decentralized autonomous organization” and can be described as an open-source blockchain protocol governed by a set of rules, created by its elected members, that automatically execute certain actions without the need for intermediaries.
The DAO’s rules are embedded into computer code, which executes by itself based on the behavior of the protocol. There is no need to interpret these program rules as they are automatically implemented when the specified conditions occur.
Rabid DAO
The DAO has four functions: Exchange; Betting Site; Games of luck; and Social Projects. RaBid itself will provide the liquidity pool of the currency with fees involved for distribution to Holders as well as for the pool of the value of the currency itself.
Within the Game Houses, the revenues will be automatically distributed, 40% as mentioned above will be converted to a social pool the other 60% of the profits will be distributed by the NFT's depending on their rarity. This distribution is done instantly like market fees, the smart contracts that are made first, and the profit Tokens are distributed to two portfolios.
One of the portfolios will be associated with Social Projects in which the Holders of the currency have voting power, where, what, and for whom interventions will be made. And another wallet that will receive 60% of that same amount will be distributed to the NFT's Holder's wallets. - The sustainability of the platform and the currency itself is both on the betting site and on the Exchange which allows making this distribution.
We (Team developing RaBid DAO) know that it is a very ambitious project. to have decentralization and make all this possible, we know that without the blockchain technology it would hardly be possible to put a system like this, we not only want to be the first but also educate in the sense that there are tools and decisions that can change the lives of many, and we want to help build that.
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