What is ElonDoge DAO?
ElonDoge DAO (EDAO) is a governance token that powers the ElonDoge memecoin ecosystem. This protocol expands the initial static reflection protocol and automated liquidity provision to enable various expansion features. EDAO utilizes decentralized governance to enhance the use cases of the ElonDoge memecoin ecosystem.
EDAO serves as a critical component of the ecosystem by enabling the governance of several auxiliary functions, including controlling parameters for NFT auctions and partnerships, managing EDOGE and EDAO reserves for business use, and providing voting power for fair launch offerings on the ElonFuel launchpad (powered by ElonDoge).
Currently, there are 100,000 EDAO tokens in circulation, which were created at genesis during the launch of ElonDoge DAO on PancakeSwap in June 2021. Of the total supply, 2% was utilized to provide liquidity on the PancakeSwap decentralized exchange, 60% are reserved for farming/staking rewards, 10% for future exchange listings, 10% under the control of the DAO as a whole, and 8% for marketing rewards.
Furthermore, the team has opted to lock their share of the remaining 10% supply at a 6-month vesting cliff. This measure promotes transparency and ensures that the team is committed to the success of the project.
With its diverse range of use cases and strong governance structure, ElonDoge DAO aims to create a sustainable and robust memecoin ecosystem that provides value to its investors. As a result, the project is gaining popularity within the cryptocurrency community, and its token is attracting a growing number of investors seeking to benefit from the project's growth potential.
Overall, ElonDoge DAO offers investors an opportunity to participate in a decentralized governance model that provides an array of use cases beyond its initial reflection protocol and automated liquidity provision. As such, it is a promising project in the ever-expanding world of cryptocurrencies.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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