1Pool.finance is a community-led project governed by DAO (Democratic Autonomous Organizations) and strives to follow best practices of community projects. A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain.
- Member-owned communities without centralized leadership.
- A safe way to collaborate with internet strangers.
- A safe place to commit funds to a specific cause
Governed by DAO: 1POOL token entails both an entitlement for yield and governance right. ( For Yield see: Use cases of 1POOL token). 1POOL governance token is used both as “rewards” for users participating in the network and voting rights.
1POOL holders can propose the direction of the project and allocation of funds from the treasury and the ecosystem fund and vote to approve or reject these proposals. No changes can be effected in the reward structure, token model, and the allocation of ecosystem funds without approval from a community vote.
Multisig Wallets: Assets placed in the ecosystem fund wallet and treasury are governed by DAO. Both wallets would be converted to 5:3 multisig wallets with three community members added through a community vote.
Team Tokens: 1Pool currently has three full-time developers and five part-time developers and two community managers. Team tokens are locked for three months and after that devs receive their allotment of team tokens ( total: 500,000 1POOL or 2.5% of total supply) over the next five years in monthly instalments of equal size. The team can not mint 1POOL token. Ownership privileges of token emission are transferred to the smart contract. ( See deployers and minters…)