The initial purpose and goal of the $DOWN DAO is to decentralize the ownership, development, and management of the $DOWN Vault social token experiment. To facilitate these goals, the $DOWN DAO treasury has been allocated 15% (1.500.000) tokens from the soft-capped supply. The $DOWN DAO is tasked with the following:
Monitor and promote the growth of the $DOWN Vaults' holdings
Oversee the development of the $DOWN ecosystem
Utilize the allocated $DOWN (as well as a share of revenue, fees, and profits earned) to enable acquisitions that augment the value of the vault and the backing of the $DOWN tokens
Determine best practices for the representation of the $DOWN Vault tokens fundamentals and documentation and standardization of the 'social tokens 2.0' primitive.
As the project gains momentum, additional aspects* of the token's association to BruceTheGoose will increase in priority, and will be receptive to community input and governance proposals. To provide some early examples of ways that the hodl'ers of $DOWN specifically benefit from $DOWN's status as a 'social token'
Bruce has an extensive personal and professional network within the NFT space; cultivated over nearly 3 years of working exclusively in the crypto industry
The DAO will have access to otherwise idle properties in multiple Metaverse worlds such as Sandbox, Cryptovoxels, Decentraland, Somnium Space, and several others. The lands can then have art galleries, conference halls, concert venues or similar establishments which can be monetized or used internally.
Bruce will make himself available to community members who aren't highly experienced in the Web 3.0 ecosystem to provide guided tutorials and other educational content.
Throughout the execution of any of the above mentioned factors of the $DOWN DAO; delegators, voters, and anyone else involvedin the active management / governance of the $DOWN ecosystem will be expected to do so with consideration for the long-term goal of establishing consensus that the '$DOWN standard' is a superior format for social token issuers and to initiate a 'social tokens 2.0' launchpad and incubator program.