RADA DAO focuses on governance establishment and transparent business execution of blockchain projects. Decentralized autonomous organizations (DAOs) have been an active area of development within the blockchain and cryptocurrency space, allowing for community-driven governance and decision-making. Many DAOs have emerged with various objectives, ranging from funding and supporting projects to decentralized governance of protocols and platforms.
The RADA DAO is a decentralized organization for governance establishment and transparent business execution of blockchain projects.
∙ The RADA Foundation — establishes the RADA DAO and sets up a DAO platform. The RADA development team, a part of the Foundation, creates smart contracts that would activate the RADA DAO. In addition, various incentives are provided to activate the RADA DAO.
∙ The RADA DAO community — RADA token holders, along with RADA ambassadors and advisors, participate in, propose, discuss, and vote on all policies to be implemented in the business conducted by the RADA governance and the RADA projects. In order to join the community, the user needs to hold one or more RADA tokens in one’s Metamask wallet and connect the wallet to the DAO platform. (N.B. Exchange wallets cannot be interlocked, and staking is prohibited in the DAO platform.)
RADA Tokens and RADA NFT Tokens are used to qualify for governance or voting power. Activities that can be executed through the RADA DAO platform are as follows.
∙ Service Layer — supports all projects conducted by RADA. On behalf of the RADA DAO, the Foundation operates services such as Dapp production, legal problem solving, project marketing and branding, and NFT creation production.
∙ Finance Layer — establishes an ecosystem for the operation of RADA projects and the interests of holders. This includes raising project funds and providing various incentives for token holders.
Two-track Hybrid DAO
The RADA Foundation supplements the characteristics of smart contracts that cannot be modified for the determined policy while attempting RADA’s unique two-track Hybrid DAO policy to template more secure proposals.
OffChain voting — Proposals that are proposed for the first time or failed in previous voting (i.e., less than 5% of RADA Token supply quorum or less than 60% of voters agree) are processed through OffChain voting. If approved in an OffChain vote, it is reflected in RADA governance or project.
RADA Auto-executable Smart Contract Factory (hereinafter RAS Factory) — Proposals that have passed OffChain voting are not only executed but are coded by the RADA development team and stored as templates in the RAS Factory. As RAS Factory is classified as a secure SmartContract, the same proposal, if proposed later, shall automatically be voted on the OnChain voting track, and the result of the voting is immediately executed by the smart contract.
Only those proposals that are registered in the RAS Factory can proceed with the OnChain voting track. If OnChain voting is successful, it is reflected immediately, as there is no separate process.
RADA token usage
RADA tokens are primarily used for NFT draws, funding RADAs with NFTs, and participating in governance through a DAO, it suggests a system where token holders can engage in various activities and decisions related to the RADA project.
NFT draws typically involve the creation and distribution of non-fungible tokens (NFTs) through a lottery or raffle system, where token holders have the opportunity to win unique digital assets or experiences. Funding RADAs with NFTs may involve using RADA tokens to acquire or support specific assets or projects within the RADA ecosystem.
Participating in governance through a DAO implies that token holders have a say in decision-making processes related to the project’s development, protocols, or policies. DAOs enable decentralized and community-driven governance, allowing token holders to vote on proposals and contribute to the project’s direction.
The initial usage of RADA tokens is mainly on NFT draw, funding for RADAs with NFT and participation in governance by the DAO.
NFT draw
· To draw from any type of NFTs — 10 RADA will be consumed
· To draw from the specific type of NFTs — 20 RADA will be consumed
· To draw from the upper-level of any type of NFTs — 30 RADA will be consumed
· To draw from the upper level of the specific type of NFTs — 40 RADA will be consumed
Funding NFT
· Minimum for the initial funding is 10,000 RADA tokens
· From the second funding, the minimum amount will be doubled
DAO
· When proposing a vote to the DAO community — 10 RADA will be consumed
The RADA Platform Ecosystem
By leveraging Ethereum’s capabilities, the RADA platform can benefit from the security and transparency offered by blockchain technology. Smart contracts, once deployed on the Ethereum network, cannot be altered or falsified without going through the appropriate governance mechanisms. This provides a level of trust and reliability in the execution of the platform’s operations.
The RADA platform ecosystem operates as a reliable system that cannot be decentralized and falsified based on Ethereum networks and smart contracts. It also utilizes Contract ABI (Application Binary Interface), an interface protocol that guarantees binary compatibility (the nature of machine-written programs working on other devices), to realize the portability of heterogeneous computer inter-application applications.
· Digital asset
Digital assets refer to contents that exist in the form of electronic data. Through blockchain technology, digital asset management can be decentralized, free from brokers, unreliability, and tracking by others, and a high level of transparency can be secured. The RADA platform supports a variety of digital assets, allowing users to register and trade assets within the RADA platform ecosystem.
· Digital identity
RADA platform users are given digital identities, and these digital identities can be encrypted and managed by the blockchain to ensure their identity. RADA platform users can log in using the corresponding digital identity system and use all services. In addition, a blockchain stores and manages details of providing liquidity, cost payment and settlement, and transactions for receiving rewards according to the service activities.
· Consensus algorithm
The RADA platform ecosystem stores all the user’s activity history and builds an evaluation system based on this. The Ethereum-based consensus algorithm method is used to ensure that anyone can understand and trust these evaluation grades or scores.
Useful LINKS
Website: https://www.therada.io/
Whitepaper: https://rada-foundation.gitbook.io/en/background/background
Twitter: https://twitter.com/crypto_rada
Telegram: https://twitter.com/crypto_rada
Discord: https://discord.com/invite/radafoundation
Hashtags: #RADA #DAO #NFT #CRYPTO #TOKEN
Author
Bitcoin talk Username: adibakala
Bitcoin talk profile link: https://bitcointalk.org/index.php?action=profile;u=3403543
BEP-20 Wallet Address: 0x412341Cd2722e7DF760C16A4E53492181197B6bD
POA : https://bitcointalk.org/index.php?topic=5457594.msg62463878#msg62463878
