In today’s article, we want to continue sharing the values of YouMinter and discuss in more detail how YouMinter is connected to the concept of DAO. There is much more we want to discuss with you, our loyal community, as the aim is to make you better understand our project and be fulfilled with the spirit of it.
At its core, YouMinter aims to follow the DAO postulates, which means that membership, decision-taking, funds-division, and strategy making are performed collectively in public on a blockchain.
What is DAO?
A decentralized autonomous organization (DAO) is basically a type of community without any central leadership. It has no hierarchical management and can be created for different purposes.
What are the benefits of it?
DAO system ensures perfect security due to a system of smart contracts which is used to prove the identity of members and coordinate decisions. The blockchain verifies each and every vote and helps eliminate injustice and fraud. This approach also makes it possible to distribute funds in a fair and convenient way.
Due to the decentralized structure, no single entity can ever force changes to the full network. Any changes made to the reference code base must be individually accepted by the nodes who are running the network.
Thanks to its solid ecosystem, NEAR Protocol offers us and our users a wide range of opportunities to create the DAO. It also allows our application to become part of this ecosystem and interact with all its components. And since the NEAR protocol provides security and reliability, users should not worry about the stability of the application and its security. Everything will be transparent, accessible, and fail-safe.
It should be mentioned that becoming engaged in active participation has become extremely accessible due to one of the basic NEAR protocol principles — Sustainable Decentralization. Participants face a really low entrance barrier as a validation node. It helps to expand the network of the users, guaranteeing that the control will not fall into the hand of a small group.
Another important advantage of DAO structure lies in the field of community. The participants share not only their funds but also their values and beliefs as they decide to gather together in order to achieve a common goal. And YouMinter provides all necessary means for gaining this target through a community-defined process.
The DAO’s governance is optimized through voting, as this is the key to freedom. The members hence can deliberately choose the vector of their community’s development on the blockchain, as well as the structure of it.
A crucial benefit of the DAO system is its openness and transparency. It’s so simple to become a part of it that there is no need to try and find a way through a difficult web of rules and laws of interaction. The DAO principles are making it possible even for people far from the modern digitalized world to become part of a global on-chain community.
All these features altogether make it possible for YouMinter to build the future together with our community!
How is it connected with YouMinter?
When the idea of creating the YouMinter app has only emerged on the horizon, our team was convinced that the only possible way to make it work was the DAO structure. And since then, we’ve been implementing this principle.
And now, the YouMinter team can proudly declare that our ideology is not only based on but also fully corresponds to the core ideas of DAO. Our community and users are the key driving force, as you are those influencing the vector of our development.
YouMinter has always been about the user, therefore decentralization is so important to us. We do not want to govern, show our power, or rule the process. We aim to make users on top of all. Decentralized organizations are the future, and this future is in the hands of our community.
Complete transparency and involvement of the community are guaranteed and supported through the policy of the DAO structure. Our team highlights every process and update to make it clear to our community. Moreover, the future users of the YouMinter app will have a chance to get acquainted with the user-friendly and inclusiveness of the features of the application.
As soon as you experience all the benefits of our app, you will never underestimate or doubt the DAO structure as the best solution for the future!
There are different values we’ve talked about: 100 loyal fans, Passion Economy, and the next one we’d like to talk about is the Ownership economy — an extremely crucial moment YouMinter takes care of.
Stay tuned, and may the Force be with you!
