Welups DAO – Bringing community power to the next level
In the current context when traditional financial institutions and governments have many user control measures, along with big players in fields such as Amazone, Facebook, Binance … have too much power and are abusing their power. This has created a wave of Decentralization around the world, urging users to go beyond their limitations and take back their rights. Especially in the field of Crypto, when the value of investments in crypto is increasing, the problem of having an organizational model to manage and support the platforms becomes more and more necessary.
And DAO is the answer of the world: DAO (Decentralized Autonomous Organization) applies coded rules to operate independently without needing the intervention of humans.
Starting in 2021, the number of DAO-based projects explodes such as ConstitutionDAO, The LAO, Yield Guild Game, MetaCartel DAO, and most recently, Welups with DAO governance model.
What value is the DAO in general and Welups in particular bringing to the community?
Welups, or DAOs in general, are helping platform participants regain rights that are not accessible to other centralized organizations:
– All members can participate and decide on the platform’s development plans through voting. Votes will be counted automatically and the results will be decided by the majority.
– Every change or action is recorded on-chain, transparent and public
– All members, regardless of position, race, social status, etc., are equal when participating in DAO
Welups is a typical DAO for the current Decentralized trend of the world. Welups will be managed by 27 Super Representatives and 101 representatives, whom the community had elected from the candidates by public voting. These people or organizations will be responsible for validating transactions and deciding the direction of Blockchain Welups, and they will also be rewarded with a certain amount of WELUPS based on their role every time a new block is created on Blockchain Welups. Any user can apply to be a super representative and contribute to the development of the Welups platform by registering at Welups explorer Welscan.io
Welups’ DAO model allows the platform to remain Decentralized as all users have the right to vote and have the opportunity to become super representatives. Limiting to 27 super representatives also helps the platform to have a high transaction speed of only 0.03s, be able to handle a large volume of transactions, and still ensure the safety and security of the Blockchain.
The current DAO is still quite new but has a very fast development speed, as an investor, this period is a great opportunity for us to find potential investments. Like Welups, well-developed DAOs and strong communities can always bring investors great returns. Not only that, if have interest and talent, investors can candidate to become one of the operators and create directions for the platform to reach further in the future.