Star Atlas Launches DAO to Promote Democracy in its Ecosystem

The DAO will be the apex of interaction within the Star Atlas metaverse, and will enable members to make decisions in the ecosystem.

Jul 23, 2022
by Michael
Star Atlas Launches DAO to Promote Democracy in its Ecosystem
News

Star Atlas has finally established its DAO as a melting point for all activities in its metaverse. As a game where politics, dominance, and resources overlap, the DAO will increase Star Atlas competitiveness to an even greater level.

According to Star Atlas, its vision is an autonomous, player-owned game, fully controlled and funded by decentralized governance. Therefore, from its early stages, the economy is structured to run through a hierarchy of DAOs (decentralized autonomous organizations), fueled by the governance token (POLIS) and cash flows of ATLAS.

Token System of The DAO

The Star Atlas DAO will work on a dual token system. The first is ATLAS, which will serve as the in-game currency responsible for liquidity and transactions inside the ecosystem. The second, POLIS, will be responsible for governance. It has a limited supply of 360 million, and players can lock them within the DAO framework to vote on proposals and earn yield rewards.

The DAO has an interesting feature – the POLIS locker, which controls the DAO framework. The weight of a vote is determined by the quantity of POLIS and the amount of time it is locked.

Governance Of The DAO

There are three levels of power in the DAO jurisdiction. They are the Star Atlas DAO; which is the highest and controls in-game universal subjects, Star Atlas DAO’s treasury, and the direction of the development of the metaverse; the Faction DAO, which controls the factions’ treasuries and political movements; and Regional DAO which controls the local governance of the system.

In the latter days, ATMTA will publish a document on the sustainability of Star Atlas metaverse. The metaverse will soon include a constitution for the ‘social layers of the DAO.’ Community members will propose new legislation through PIPs (POLIS Investment Proposal).

As the DAO matures, token holders will be granted powers to oversee the metaverse development and economics. They will also be able to decide on partnerships, system design, reward system, treasury management, and other necessary actions.

Disclaimer: The information provided on this page do not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Individuals should do their own research before taking any actions related to the product they read about and carry full responsibility for their decisions.
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