Convival DAO

A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain.

How Does Convival DAO Works?

  • Convival DAO operate using smart contracts, which are essentially chunks of code that automatically execute whenever a set of criteria are met. Smart contracts are deployed on numerous blockchains nowadays, though Ethereum was the first to use them.
  • Convival DAO is fully autonomous and transparent. As they are built on open-source blockchain, anyone can view their code. Anyone can also audit their built-in treasuries, as the blockchain records all financial transactions.
  • Users can participate in Convival DAO voting with their gCVL tokens.
  • Voting process will be conducted via service called Snapshot.
  • Convival should create their our space in Snapshot, so users can join it.
  • To vote via Snapshot users have to connect the wallet where they store their gCVL tokens.
  • Users can propose their pools to vote for. To make a proposal the user needs to have more than N amount of gCVL.

Why do we need DAOs?

  • Being internet-native organizations, DAOs have several advantages over traditional organizations. One significant advantage of DAOs is the lack of trust needed between two parties. While a traditional organization requires a lot of trust in the people behind it — especially on behalf of investors — with DAOs, only the code needs to be trusted.
  • Community is most important in our game, so we are solely focused on our game. So we are building our game on Phases. Unlike other games that need a years to build , we will build on phases so that after phase 1 we will give power to community on what update should be implemented and they can do so with the help of DAO voting.