BeDAO
Last updated
Last updated
DAO is a decentralized autonomous organization initiated for the governance, distribution and ecological construction of the BeingFi wallet project. BeDAO will exist as the top-level structure of the BeingFi project, sharing and co-governance with all DAO members. At the same time, BeDAO is also an independent decentralized investment institution. In the future, we will continue to pay attention to, invest in and incubate various types of Web3.0 projects.
Official website: https://www.bedao.io
Whitepaper: https://bedao.gitbook.io/bedao-whitepaper/
Governance: https://vote.bedao.io
The income generated by BeingFi is sent to the Dividend Pool smart contract in the form of native tokens on the chain and processed by it. Anyone who stakes BGT into the BGT Yield Pool or BGT Vault will receive their proportional share.
The BGT vault allows users to stake their $BGT much like in the native token earnings pool, but receive instead their rewards in $BGT. By staking their $BGT, each participant converts and compounds their share of the protocol’s revenue into more BGT tokens. As no more BGT tokens are to be minted, these are provided to stakers by buying BGT from the open market with the native token of the blockchain.
This Vault is for users that want to convert and compound their share of the protocol's revenue in more BGT tokens. As BGT has no inflation, the strategy market buys BGT with native token rewards.
$BGT can currently be found in several decentralized exchanges including 1inch and PancakeSwap. Buying $BGT usually involves exchanging it for another crypto-coin or token through a liquidity pool.
By simply holding $BGT, even if staked in the native token earnings pool or BGT Maxi vault, a user earns the right to create proposals and vote in them. Voting sway and power are derived from the $BGT holdings of the participant. The reasoning behind this follows that those holding more $BGT are more invested in the project, and therefore have a larger incentive for the platform itself to succeed and prosper. You can see proposals and vote on them yourself by heading to vote.beefy.finance.
Voting requires you to hold $BGT, which can either simply be held in your wallet or staked in the native token earnings pool or BGT Maxi vaults. You do not need to remove your stake either to vote. Voting power is based directly on the amount of $BGT each voter holds.
Proposals can be created if the submitter holds or stakes at least 1 $BGT. Simply visit https://vote.beefy.finance/#/ and click New Proposal.
Each proposal is made up of a question to pose to the community, along with the option of choices that others can vote on in response to your question. Simply set a start and end date for your proposal and publish it.
