As the name suggests, a DAO or a Decentralizaed Autonomous Organization is an organization where all its functions are performed by computer programs (smart contracts) that are not controlled by any centralized party but instead governed by voting (on blockchain) of all its participants/stakeholders. DAOs aim to solve the age old dilemma in political science & economics called the "principal-agent problem". We often see that in traditional companies, the manager (the agent) of the company can make certain decisions in their own interest which are contrary to those of the stakeholders (the principals). When this happens, the stakeholders are left to enforce on the legal contracts in their legal jurisdiction which costs money and time after the occurrence of the bad event. Members of a DAO are not bound together by a legal entity or formal legal contracts. They are instead governed only through common incentives tied to the performance of the organization.
We are using the Dandelion Organization by 1hive. This gives the "rage quit" functionality we needed before launching our DAO. Rage quit is a functionality developed by MolachDAO which allows investors to quit with there share of the invest in the DAO. This protects the investors from a 51% attack, where the attacker votes to receive all funds in his wallet. Rage Quitting can also be used if you strongly disagree with the majority's decision. At this juncture, you will have 3 days to choose if you want to rage quit and leave with your share or not.
DAOversify is essentially a decentralized hedge fund providing individuals with exposure to all types of asset classes within the #DeFi space to help build long term wealth while paying extremely low fees. A decentralized hedge fund is a crowd sourced hedge fund, where the fund allocation is selected by the collective intelligence of the crowd and not just by a hedge fund manager.The investors in the community can suggest new proposals or cast votes on existing proposals using a native token that represents their share in the total asset pool. All subsequent profits generated by these strategies collectively increase the ROI of the pool and thereby the ROI of individual investors. Anyone is free to enter or exit the pool at the time of their choosing.
To Invest you can contact us via Discord or Twitter. You can also send us an email to which we will probably respond a bit slower. There will be an entry fee of 1.2% to facilitate the use of gas to interact with protocols as well as an incentive to be an early investor. This entry fee is received by the DAO and so is paid to the DAO shareholders. For the first week we will be open to the first round of investors where there will be a entry fee of 0%. There will be two modes of the DAO Bull mode and Bear mode (decided by the share holders.) Where the theme of our investments would either to be focused on stable growth or high growth.
DAOversify will be run on two modes, Bear mode and Bull mode when in bull mode DAOversify will focus on capitalizing on growth opportunities for higher profits by investing into cryptocurrencies such as wBTC, ETH, token sets, and providing liquidity. During Bear mode the DAO will into interest generation of stablecoins as well as providing liquidity.