Global, Powerful and a true collective.
We are working on establishing a Decentralised Autonomous Organisation, or DAO, for Lumos Exchange (and ecosystem) that will define our communal focus.
DAO will be established for the following purposes;
DAO will utilise a governance asset that provides voting power and will be made available explicitly to Lumos Rewards holders at an exchange ratio of 10:1.
Please note this asset will be developed by Lumos Exchange and will be distributed by the DAO to it's members.
DAO will become 1 of 3 main ownership groups at Lumos Exchange with exclusive rights to take part in an Initial Equity Offering (IEO) as well as future rounds.
Please note that the DAO, Venture Groups and Founding Members will be the only entities with an ownership stake, making the DAO a very important part of our future.
DAO will provide passive income to all participants for holding governance tokens as well as for voting in active proposals.
Passive income rate will be equal to the ownership stake held by the DAO and in terms of a percentage of monthly profit, to be shared between DAO participants.
E.g if the DAO owned 10% of Lumos Exchange then 10% of the profit from the exchange (in USDC) will go to the DAO for distribution to participants (every month).
DAO will also provide a secondary stream of passive income for its participants.
This stream will use the same rate/calculation as mentioned above however the profits will be derived from the sales of NFTs created by Lumos Exchange.
Note that this extension will be applied to other solutions developed within the Lumos Ecosystem, to provide the DAO with 5 streams of passive income 🤩
DAO will have a foundation registered in Singapore or Switzerland and will not be anonymously lead nor just a Discord entity.
DAO will be established in Q2/Q3 2022, be prepared!