LittleGhosts has created a Decentralized Autonomous Organization that holders of our NFTs or token have access to.
Just by holding $ECTO or the NFTs, holders are given the option to vote on proposals based on feedback from the community. The more tokens or NFTs you own, the more voting power you have on the decision of those proposals.
For every 100m $ECTO, 1 LittleGhosts, or 1 EctoSkeleton you own you currently get 1 VP in the DAO. For example, if you have 5 EctoSkeletons and 500m $ECTO you will have 10 VP.
You will neWe had to come up with a staking solutioned 10 VP to create an proposal but can vote on any proposal with as little as 1 VP.
Anyone with 10 VP can create a proposal. After a proposal is created members of the DAO can vote on the proposal. An option will need majority favorite for it to pass. When the proposal passes, the team will look at the proposal and decide if it should be added or not.
Disclaimer: Just because a proposal passes does not mean it will be implemented. There are several things that are proposed that are not possible or the proposer does not understand the scope of what they are proposing. The LittleGhosts team always gets the final say. Although, they usually tend to follow the peoples opinions and if not will give a reasonable explanation.
The DAO Treasury is a treasury that is owned by members of the DAO. Anyone that has access to create a proposal can outline a plan and strategy for the funds in the treasury. These proposals are often taken very serious by members of the DAO, so the proposer should outline things very specific if they want the proposal to pass. The proposal should outline the following things:
- How much funds of the treasury funds should be used? Ex. 4BNB
- Where will the treasury funds be used? Ex. LittleGhosts
- What will the treasury funds be used for? Ex. Buying ECTO
- When should the treasury funds be used? Ex. Immediately after the proposal passes
The DAO Treasury is a multi-sig gnosis safe wallet that is composed of three members. The current members are listed as followed:
- Tyeler (LG Founder) 0xA4760E78422672ccCD66184A3F87727023d8A7a2
- Li (Lg Head Developer) 0x6431f37d3CB2aF76EcAbaD790bDdc77b3c4cAEB9
- Benimaru (LG Comm. Manager) 0x2076FE295a6B1A9fBB559E7De0B7EeE00753af61
These people were chosen because they are heavily invested into LG and will be here for the long run. 2 out of 3 people need to sign an transaction in order for it to go through.
The DAO Treasury address can be found here