We are proud to announce our second major giveback event – Royalty Giveback Campaign. As Ryborgers, we have a strong knitted community. Therefore, it is important to involve all Ryborgers in our decision-making process. Thus, the community will have the power to vote on our implementations; how are we using royalty fund.
R-DAO Goals & Vision
We’ll be implementing a proposal and voting mechanism within our DAO’s smart contract to create an automated, fair, and effective governance system for all of our Ryborg holders. With that, our R-DAOC leadership team has made it their top priority to find some of the most knowledgeable and experienced DAO zealot, as well as a completely new team of Devs dedicated to our R-DAO. All DAO decision aims to have a positive ROI (return on investment). R-DAO aim to position the DAO as a relevant player in the NFT & DeFi world.
RYBORG – Decentralized Autonomous Organization (R-DAO)
By owning at least 1 of the 10,000 Ryborg NFTs, give each owner not only membership but also voting rights. Each plays an important role in deciding the direction our community will take. Ownership of the RYBORG allows members to vote & decide on specific issues, community project, Buyback, DeFi activities, and Blue-Chip NFT Projects. Through this voting mechanism, it will spell success for a decentralized and fair system; no hierarchy issue, eliminating majority control of all aspects of an organization. Ryborgers will also be involve in the mapping of our roadmaps to a certain extent.
RYBORG – Decentralized Autonomous Organization Council (R-DAOC)
The R-DAO Council (R-DAOC) is formed to represent and assist in the management of the DAO. The R-DAOC is made up of 10 holder-elected DAO members and works to: Propose actions to support the DAO’s long-term viability. Increase the value and benefits of DAO membership. Transparency are applied to all decisions and actions. The R-DAOC will present proposals based on suggestions and knowledge from the community. All voting will take place in through our DAOs smart contract or/and Discord.
FAQ
What is a DAO?
A DAO is a non-traditional company run by a group of people who make their own rules and make decisions based on smart contracts on a blockchain. All of its rules and transactions are recorded on the blockchain, eliminating the need for a central entity. A DAO, in essence, functions like a corporation without an executive board—a company that can function autonomously and without leadership. Its primary function is to bring together a community of people who share similar interests in order to work toward a common goal.
Why are we adopting DAO?
We believe DAO will take NFT to the next level – allowing a wide range of non-NFT activities to provide essential value to the community. DAO also helps to enable a decentralized and fair decision-making system with the absence of hierarchy issue or centralized point of failure. With that, we believe that adopting DAO is the most logical and beneficial to Ryborg, aiding us in progressing step by step together with our Ryborgers in our evolution as pioneers of the NFT-avatar market and the Non-fungible Technology industry.
| DAO | Traditional Organization |
|---|---|
| Typically flat and fully democratic. | Typically, they are hierarchical. |
| Members must vote for any changes to be implemented. | Changes can be demanded from a single party, or voting can be offered, depending on the structure. |
| Without the use of a trusted intermediary, votes are counted and the outcome will be implemented automatically. | If voting is permitted, votes are tallied internally, and the results of the vote must be handled manually. |
| The offered services are handled automatically and decentralized (for example distribution of philanthropic funds). | Requires human intervention or centrally controlled automation, and is susceptible to manipulation. |
| All activity is transparent and open to the public. | Typically, activity is private and restricted to the general public. |
How can I be part of the R-DAO?
Own a Ryborg through minting during mint date or purchase from secondary market after mint date on crypto.com/nft platform.
How are Royalties used?
Royalties are mainly used by the R-DAO to make investments decision – Token, DeFi activities and Buyback.
Where Does Investments Decision Come From?
Investments opportunities will be identified from Bunker Trading Hall.
How does the Profit-Sharing Work?
80% of the profit pool made by the DAO decision will be split equally across all Ryborg owners. Each Ryborg offer collector 1/10000 shares from the net profit. You can accumulate more shares by owning more Ryborg. The rest of 20% profit goes to the R-DAOC.
What if a DAO Decision made a loss?
It reduces the royalties fund available for future expansion and will not affect the profit pool made by other DAO decisions.
How does Royalties fund grow?
Royalties fund are accumulated through the buying and selling of Ryborgs in Crypto.com.