Acala AquaDAO: a community treasury DAO with a backed aDAO token
Thread261 words
Breaks down AquaDAO, an Acala community DAO whose aDAO token represents a share of a basket of stable and crypto assets, funded by staking and bond-style subscriptions and deployed into DOT strategies such as parachain crowdloans.
Key claims
aDAO has hard backing through a basket of stable and crypto assets
Acala treasury seeds the reserve in return for a share of aDAO supply
Design borrows ve(3,3) staking and an OHM-like model
0/ @bettechentt just confirmed that #AquaDAO will become reality! AquaDAO is an @AcalaNetwork community #DAO that creates protocol-controlled policies to grow the #Acala Treasury, while letting $ACA holders participate in the growth via staking.
AquaDAO💧 (0/8) 🧵👇
1/ #AquaDAO was inspired by @AcalaNetwork's sovereign wealth fund like treasury model where DOTs can be deployed to Acala’s Liquid Staking Protocol to earn yield and used as liquidity to bootstrap other protocols.
2/ Following this idea, #AquaDAO's $aDAO token represents a share of the baskets of assets owned by the AquaDAO treasury with direct access to its yields and growth. Therefore, $aDAO essentially has a hard backing through a basket consisting of both stable and crypto assets.
3/ In the long term AquaDAO aims to empower users to participate in governance through delegated and vested voting.
4/ How to participate in #AquaDAO:
- Stake $ACA in return for $aDAO yield powered by staking yield
- Subscribe to #AquaDAO by contributing accepted assets such as $aUSD, $lcDOT, $DOT or LP tokens
- Stake $aDAO in return for $aDAO yield
5/ With the excessive reserve, #AquaDAO plans to pursue strategies to fund $DOT parachain crowdloans or expand its growth asset portfolio, where $aDAO holders can vest vote to participate
6/ @AcalaNetwork treasury will seed the reserve in return for a percentage allocation of $aDAO total supply as a long term vested ownership share in #AquaDAO
7/ So #AquaDAO will effectively be a community-governed hedge fund that applies @AndreCronjeTech's ve(3,3) vested staking design and implements a Nash equilibrium model similar to $OHM.
8/ More info: acala.discourse.group/t/acala-community-dao-for-aca-staking-grow-the-treasury-and-more/522
What came next · since 20 Jan 2022
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This breakdown analyzes the project without making a call on the token, so price moves since publication are shown as market context.
Covered, no call
$ACAAcalasince listing 26 Jan 2022−100.0%−100.0% vs BTC
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