As we continue our quest of becoming the Google search of Defi with imminent audit reports from the best 2 firms in the market, It’s time to get into the specifics of the forging Revault DAO.
The blockchain technology and Defi space, in particular, have introduced a new paradigm where organizations can manage their daily activities and operations in a decentralized way while remaining efficient and fully transparent. This novel corporate governing model is what enables thousands of people to be involved and take part in creating the businesses of tomorrow.
All of us here at Revault are taking our governing share in several other DAOs and are absolutely fascinated by this innovative governance approach. Each of us shares the desire of eventually making Revault a fully community-owned project serving above all its dedicated DAO participants. That being said, history has shown that true decentralization does not take place within a day and has to be transitioned in a responsible and calculated manner.
The Revault project assets, IP, and $REVA tokens are currently all owned and managed by the Revault Foundation, conceived in the Cayman Islands in May 2021. In order to help the project reach Defi’s main stage, the Revault Foundation has granted 25% of the entire $REVA supply to the project team and early strategic investors.
The remaining 75% of the $REVA total supply is committed by the foundation to the Revault DAO and will be distributed between the $REVA/BNB LPs, $REVA stakers, and the protocol users (TVL rewards) by our main smart contract. The distribution (Emission) will start on Revault’s launch date immediately after the ILO (the final date and participating pads will be announced shortly). And so, on Revault’s launch date, the entire $REVA tokens to ever exist will be held by the project’s community.
$REVA initial distribution (75%)
- 2.5% — Will be distributed to Revault’s Pre-sale & ILO participants
- 2.5% — Will be locked with the raised Pre-sale & ILO funds in the $REVA/BNB liquidity pool on Pancakeswap
- 70% — will be emissioned within each block, as follows:
25% will be distributed among all $REVA/BNB liquidity providers
20% will be distributed among all $REVA stakers
15% will be distributed among all TVL contributors as incentive rewards
10% will be distributed to the Revault treasury controlled by the DAO
The DAO formation and delegates
Currently, the Revault team was nominated by the foundation to control the DAO in a democratic way, and make sure the ILO, development and initial steps of the project are all on track. Voting is being done in the team’s internal Proposals Discord channel regarding every main protocol decision and each spend. Since full transparency is the core of a robust DAO, each one of you can see at any given time all the transactions made out of the DAO’s wallet by simply checking our Gnosis-safe
Eventually, controlling the DAO will be 100% done by the community, nominating several multisig owners that will be able to control the treasury and upgrade the contracts on behalf of the community.
As mentioned above, although we are all true decentralization apes, we do believe that every DAO initial step must be centralized in a limited manner in order to make sure the foundations are set and execution is done professionally. Therefore, the team will control the DAO until the community handover event.
We want YOU!
How can I take part in the Revault DAO? This is where the fun begins. In order to become an active DAO member, all one has to do is simply stake its $REVA tokens in the project single asset staking page. Planned for Q1 2022, stakers will be able to vote and make new proposals, on the DAO designated page on Revault’s website while simultaneously enjoying the project’s generous reward system and receiving more $REVA.