How a truly decentralized organization works
The first principles for forming a DAO organization were created by Stan Larimer in his work, “Bitcoin and the Three Laws of Robotics”. After that, in 2015, the BitShares project was established in accordance with those principles. In 2016, Ethereum founder Vitalik Buterin also claimed the importance of DAO. Nevertheless, to date, no DAO has been fully decentralized and independent, as most tokens are owned by their founders, meaning they are the ones making important decisions. “The TG Ecosystem project has tried to build a real DAO. We have already launched the TG DAO 3.0 Launchpad and this year we are launching a social network, marketplace, secure cryptocurrency wallet, internal financial system and more,” said Eugene Melnyk, CEO of TG Ecosystem.
How does this organization differ from others of its kind? Does the TG DAO 3.0 Launchpad infrastructure really support full decentralization? Read on to find out.
A gradual transition from centralization to decentralization.
“A team was formed in 2021 that successfully completed the first phase of project development. BUSD 1.8 million was raised and more than 150,000 participants were gathered. Now the TG DAO 3.0 Launchpad continues to the next stage of development: forming a team that will complete the transition of the project to DAO status,” the company confirms.
The project’s development plan includes a phased transition from centralization to decentralization, and this is reflected in tokenomics. It separately determines the compensation for the launch team and the project development team.
The TG Ecosystem Initiative Group, led by CEO Eugene Melnyk, announces the selection and creation of a transition team to lead the Launchpad project to DAO management by the end of 2022.
“We suggest that community members self-select and vote for available positions on the team. These include the positions of CEO, BDM, Chief Community Manager, Community Managers for supporting multilingual groups, Copywriter, Researchers and Analysts. Applications are accepted online at: https://tgdao.io/dashboard/vacatures. It also indicates the requirements that candidate candidates must meet and the salaries offered.
Community members will receive a financial reward for recruiting top specialists for the TG DAO 3.0 Launchpad. To do this, a community member must give their referral link to a potential candidate, ask them to register for the project using it, and send them a link to this article. A referral link can be generated after registering on site in the Reference section, found by navigating to dashboard.
Candidate proposals are judged by the community. If an applicant is hired, the person who proposed the applicant will receive one month’s salary.
Suppose a user submits a CEO candidate proposal with a salary of $8,000. If that person is then approved for the position by the majority of token holders, the user who proposes the candidate will receive $8,000 in their account.
Applications for candidates are open until February 15th.
The first scoring takes place between February 16 and February 21.
The candidates will then be discussed and the voting process will take place between February 22 and February 28.
“The Launchpad community expects the members of the future team to be able to transition to a full DAO by the end of 2022,” said TG DAO 3.0.
The next step is the introduction of new DAO tools.
For example, token holders can vote for funding at various stages of a particular startup’s development on the Launchpad. This applies to all funding stages from seed to public rounds.
It will also be proposed to vote on the allocation of funds to accelerate startups in phases as the project develops.
“This makes it possible to protect the funds of the investors themselves. A startup receives the agreed share of the money upon reaching the agreed indicators. If the project does not develop and fulfill its obligations, it will not get the next part,” the company explains.
Voting will also be used to solve strategic problems that arise during the operation of the Launchpad. This includes the ability to open an insurance fund and launch an internal crypto fund. The list could go on for miles, but it’s all up to us – the TG DAO token holders – to make proposals and suggestions.