CannaDAO launches first decentralized cannabis platform

CannaDAO has launched the first decentralized, member-governed platform for cannabis growing and operations in the world, Invezz learned from a press release. The DAO launch will be on April 20.

The Aurora cross-chain bridge on NEAR Protocol (NEAR/USD) will power the launch. The community can participate and earn rewards from real-world operations within the cannabis industry.

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Eric Benz, CannaDAO Contributor, former CEO of Changelly, and serial entrepreneur commented:

The community can now disrupt, destigmatize and decentralize a trillion-dollar industry. The days of targeting stoner culture are no longer and the time to redefine what cannabis means and represents is now. The future of finance is green.

$100M TVL projected in 6-18 months

Project contributors forecast a Total Value Locked (TVL) of $100 million in the next 6 to 18 months. In addition to Eric Benz, they include Jon Matonis, Founding Director at the Bitcoin (BTC/USD) Foundation and Nicholas Gregory, CEO of CommerceBlock.

Benz added:

The hard-fought legal battles around cannabis rights have resulted in significant breakthroughs and increased tolerance around the world. But the vast majority of the world is still excluded from the benefits of the legal cannabis industry, whether consumers, growers, or businesses. CannaDAO removes the hurdles for so many who want to participate in this blooming economy while at the same time having a strong social impact.

CannaFarm will launch on March 7 on Aurora with a series of NFT releases and a P2E game to attract users, who will be able to participate in a truly decentralized and gamified governance model.

With the DAO’s launch, its governance token ($CANNA) will be available on Ref.finance. The token will allow members of the CannaDAO to propose cannabis growing opportunities, take part in grow operations by harvesting yield through token staking, and vote on submitted proposals, including proposals related to funding.

The components of the CannaDAO project are:

• CannaGuild: Collective governance of the DAO
• Cannabis grows and businesses: Decentralized funding and real-world yield farming
• Cannaverse: Metaverse, game, NFT, $SEED on-chain, Aurora, farming