We published the first version on Polygon today of PayRue DAO — here is an explanation of what it does will do, and its purpose for the future
London 18th of April 2022
Here is a link to PayRue DAO live on Polygon
Background
PayRue DAO is owned by Propel holders and PayRue Penguin Holders. The DAO owns the right to revenue generated by PayRue
- 25% of all revenue generated by PayRue Applications is owned by PayRue DAO
- 10% of PayRue NFT revenue is owned by PayRue Penguin holders.
How does it work?
PayRue DAO works as both a Treasury for future earnings from PayRue and as DAO Funding.
Treasury DAO is revenue generated from the commission on PayRue NFT, PayRue Swap, and sales of PayRue Penguin NFT Collections.
PayRue Funding DAO is where Members can join PayRue DAO and make proposals of projects, partnerships, and development that PayRue should do and they can pitch it themselves or for others to earn money to build on PayRue.
Structure of PayRue DAO
There are 3 main categories of users
Members = anyone with 1m Propel or 1 PayRue NFT Penguin can join as a member and make the proposal
Stakeholders = anyone with 10m Propel can join as stakeholders and vote on proposals, effectively vet good proposals from bad, and decide which one will be public voting.
Public voting = This is where all Propel holders will vote on Snapshot on what proposals will be implemented or not.
If public voting is YES, then a manual transfer of funds will be paid to the proposal owner and will be manually paid by one of the 5 Governors of PayRue DAO that soon will be announced and publicly engage in conversations.
Summary
This is our first public post and the first time we go live with the DAO, there will be numerous alterations, changes, and improvements, as we go along, being active in Discord and following our blog, will help you engage and follow this better.
If you find errors or have a problem or suggestions contact us below
