This proposal aims to set up a DAO to raise the necessary funds for the start-up of the project of Treasurer of Gzil
This proposal allows Gzil to vote for a project requiring funds, and to order DAO to start fundraising to carry out the project by providers supervised by Zilliqa.
As we saw on the previous proposal “GZIL DAO Treasury and Raising SSN fees minimum to 5%”, GZIl DAO Treasury and Raising SSN fees minimum to 5% - #8 by rrw1000, it is necessary to plan the design and development of computer codes, tests and audits, so that Zilliqa automates the flows feeding the Tesorerie of Gzil.
The DAO responsible for collecting funds is created on ARAGON DAO.
When creating this DAO, the TGzil voting token is also created.
A wallet address that sends $ZIL to the DAO is created as a member of the DAO, which can participate in the DAO votes.
The number of ZIL transferred by a member corresponds to its voting rights.
For this, an equal number of TGzil is created and given to it in exchange.
The accounting of the DAO is thus recorded, and alive.
Once the fund is sufficiently constituted the treasurer launches the vote of transfer of funds to one or more public addresses (wallet) to begin the developments.
The risk for the investor, or active member, is to lose their invested funds if the project is not delivered.
For the remuneration of this risk, compared to other non-active members of Gzil, active members have priority to recover their funds, once Gzil’s cash is operational, plus an additional 50% bonus of their total investments.
If the project lasts several years then this amount is increased each year by the APR amount of the Zilliqa cryptocurrency.
Funds considering the DAO are preferred, and for compatibility with ARAGON, Zilliqa of the EVM network, or else Matic of POLYGON network.
Members can communicate in a discussion room of the Zilliqa Discord.
The main objective of the Gzil Treasury is to promote the Zilliqa ecosystem and its decentralised governance.