LepraDAO is Live — What it is and how to use it

LepraDAO is now live, completing LEPRACOIN’s transition to becoming the first fully decentralized token.

Ownership of the LEPRACOIN token has been transferred to LepraDAO enabling you as a holder to completely change the tax distribution and tokenomics of the LEPRACOIN token.

Why LepraDAO

There are many tokens who claim community ownership, but none of them put the tokenomics of the token itself in the hands of the community. LEPRACOIN is the first token where every aspect of the token is decentralized; holders can vote to completely change the tax of the LEPRACOIN token week to week.

As low as a two percent transaction tax is possible one week, followed by twenty percent the next. The token adapts to the will of the holders to move with the market as needed. This has the added effect of adding a subtle DAO-governed element of gamification to the token itself.

What is it & how to use it

The DAO is a dApp or decentralized application built using Angular, Azure and Web3 technologies. It consists of the concept of tokenomics cycles — every week the holders of the LEPRACOIN token decide on the tokenomics of the token for the coming week.

Lepracoin Homepage

On the homepage you can now see the current cycle, its total tax and the optimal slippage to use when buying or selling LEPRACOIN. You can also see a timer showing how long before the current cycle ends. Click for more details and you can see a breakdown of its tax as well as a summary of the current vote.

Once you navigate to the DAO page and connect your wallet, you can see if you hold enough LEPRACOIN to vote, what your voting power is, the cycle leader-board, and some statistics on the current vote.

LepraDAO Cycle Voting

The dApp itself consists of two pages:

  1. Cycle Voting — where holders vote a cycle into the tokenomics for the coming week
  2. Cycle Proposals -where holders propose and vote on new cycles to be entered into the weekly cycle voting above

On the Cycle Voting page, any holder who holds enough LEPRACOIN can vote for a cycle. The cycle with the most votes will be activated once the timer runs out. Anyone can activate the winning cycle once voting has finished. Once the vote has ended, the tax distribution of the winning cycle will be applied to the LEPRACOIN token.

LepraDAO Cycle Proposals

The Cycle Proposals page is where you can propose a new cycle or vote on cycles proposed by other holders. Each new cycle proposal vote lasts for five days. If the vote succeeds, that cycle will then be entered into the weekly cycle vote.

Voting Power & Rules Breakdown

Voting power ranges from one to five depending on how much LEPRACOIN you hold. Voting ranges means that every holder has a fair vote.

A voting power of 1 vote requires: 19,913,800 LEPRACOIN

A voting power of 5 votes requires: 1,274,483,200 LEPRACOIN

Voting costs next to nothing in GAS as LEPRACOIN is on the Binance Smart Chain (BSC) network.

Proposing a new cycle require ten times more LEPRACOIN than it does to vote.

Cycle proposals last for five days and require a minimum of thirty votes and more positive than negative votes to succeed.

Minimum holding requirements, proposal votes required and voting length are subject to change based on user feedback.

Where to find it

LepraDAO: https://officiallepracoin.com/lepradao

While your here, why not join our Telegram or follow us on Twitter. You can buy LERPOACOIN here to get involved.

An Irish token, for lovers of Ireland and cryptocurrency alike. Introducing something truly unique…