☘️ Introduction ☘️
The one issue with the cycles currently is that I (the developer) control them — it is too centralised. Enter LepraDAO.
Lepracoin will be the first and only DAO governed token with tokenomics decided by the community every cycle.
☘️ What is LepraDAO? ☘️
I will transfer ownership of the LEPRACOIN contract to the LepraDAO contract. This DAO contract will enable holders to vote for the next cycle. Every 7 days (initially) anyone can activate the cycle with the most votes, thus removing any centralised aspect.
Furthermore, the DAO will also enable anyone who holds enough LEPRACOIN to propose a new cycle to be included in the next cycle vote, this way the community fully controls the tokenomics and can change them however they want.
Additionally, the weekly timeframe can also be voted on. If the community feels like hourly, daily or monthly cycles are more relevant for the current market conditions then changing the cycle length can be proposed in the DAO and voted on as above.
The website is becoming the DAPP and voting will be all be done on-platform which I am building from the ground-up. There will be a minimum LEPRACOIN holding requirement, and you can only vote once, and are not allowed to vote for the currently active cycle to ensure the tokenomics stay dynamic. There will be a higher minimum holding requirement to propose a new cycle and the cycle taxes you are proposing must not be already active in a different cycle. A lower minimum holding will be required to vote for a proposed new cycle, and a minimum number of votes are needed for it to be considered valid. The more LEPRACOIN you hold, the more voting power you will have (within a range, E.G. Holder A who owns 10x the amount of tokens as Holder B, will not have 10x the voting power, though it will be more).
☘️ Why LepraDAO? ☘️
Say the token is suffering with low volume. You as a holder can propose a cycle with no taxes other than the 1% burn fee & 1% charity fee, putting total tax at only 2% that week to attract new buyers. Or if the community are feeling generous and want to increase the charity function, you can propose and vote for those tokenomics instead. Or perhaps something more rewarding or balanced? It will be completely in the hands of you, the holders.
This will make the token truly dynamic & decentralised as the community decides how it wants to move forward week to week. It has never been done before, and I believe it to be the next logical iteration for decentralised cryptocurrencies as a whole.
☘️ LepraDAO Roadmap ☘️
This is phase 1 and the contracts are 90% done, and the DAPP is about 30% done. It will be audited by a tier 1 audit company prior to launch. Expecting to launch within the next 1-2 months.