To create a DAO on Homebase, your community needs to have a token. Tokens give members voting rights. DAOs typically have two types of membership tied to tokens: token-based memberships, where members govern a decentralized protocol together and can purchase tokens through liquidity pools or decentralized exchanges; and shares-based memberships, where a DAO is pooling financial resources to fund development, charity, or investments. Governance tokens can be 1:1, one membership one vote, or they can be allocated according to reputation, where community members earn tokens through contributing to DAO, and their voting power is proportional to their investment of time, money, labor, or other kinds of resources. Please note that on Tezos you cannot use an NFT token as your voting token.

Last updated