On June 9, DexGuru, a DeFi trading terminal, introduced its Decentralised Autonomous Organisation with a revolutionary community-first strategy.
DAOs envisions dynamic, utopian communities that are owned and governed by their members, with everyone having a vote in how assets are distributed and how things are run. But mostly, DAOs ussualy start centralised; in many cases, the DAO’s core team has already made key decisions before the majority of its members have even joined.
DexGuru tweeted the following:
The DAO is aiming to correct the situation by incorporating its 10,000-strong community in key decision-making processes. Users will be able to shape GuruDex DAO and its associated currency even before it goes online, thanks to the GuruDex community, a prominent trading and analytics website.
DexGuru contributor Nick Sawinyh, stated:
“We want our community to set these norms on their own, rather than having the core staff impose them. When it comes to community governance and people working together to construct something, it shouldn’t be a core team, a developer team, a support team, or an inner circle making decisions for everyone.”
DexGuru plans to create a DAO, similar to many other crypto projects, to give its users more control over the project’s development. Even the GuruDAO launch date, according to Sawinyh, is up to the community.
It’s a rare method; most projects don’t involve users in the decision-making process or assign voting rights to community members before deciding on tokenomics.
Read more: Osmosis chain faces loss of $5 million from liquidity pools of DeFi protocol
