DAO

Purpose

DAO will be established for the following purposes;

• To incorporate users into the governance structure at Lumos Exchange
• To provide users with a pathway to owning a piece of Lumos Exchange
• To provide users with passive income derived from Lumos Exchange
• As well as any natural extension, expansion or increase in community focus

Governance

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.

• Governance token will have a total supply of 1 Billion
• Ratio to enable existing users to acquire new tokens, at no cost!
• Asset Name and Symbol (to be decided)

Please note this asset will be developed by Lumos Exchange and will be distributed by the DAO to it's members.

Ownership

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.

• DAO will initially be invited to purchase a 10% stake of Lumos Exchange, with a long term focus of increasing this through successive equity rounds as we grow

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.

Wealth

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).

Extended Wealth

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 🤩