- Alien World recently announced that the planetary DAOs are open for explorers.
- The DAOs will be run as candidates and vote.
On October 20, 2022 the leading blockchain game, Alien Worlds, shared the information through the Medium post that they call-off the DAOs within Alien Worlds Syndicates. The NFT Metaverse mentioned that the six planets that occupy the corners of the galaxy will now be able to develop Syndicates who can elect Custodian leaders. And these leaders will be responsible for the proper goerning of Syndicate treasuries, along with the accountability of their Syndicate members. And all this will happen on-chain.
It must be noted that Decentralized Autonomous Organizations (DAOs) are the organizations that are governed by computer codes and smart contracts to work autonomously. It is basically based on rules stored transparently in a blockchain and executes commands automatically from the external information.
Alien Worlds & The Syndicates
Alien Worlds added that the DAO technology can be a human-centric governance structure that drives more transparency in every step. As every vote and decisions that are made will be recorded on-chain for the whole world to go through. For testing the following thesis “Walking the walk” was the only way. As major DAOs present on the earth still leverage off-chain tools for critical functions.
Here, the on-chain means transactions that are directly recorded on the blockchain. On the other hand, off-chain transactions only transfer the value of assets off-chain to perform any operation that is not directly recorded on the ledger.
In addition, the part of the base-layer of Alien Worlds is known as ‘The Syndicates,’ where the blockchain game put it on-chain by giving it an important priority. Additionally, the threshold for making any decisions are quite high for the Syndicates, but its membership seems easy with more security and growth.
The Co-Founder Talk
After the announcement, Alien Worlds’s Co-Founder, Sarojini McKenna, said that “It’s the first time in history that DAOs have been put inside a game to compete against each other as teams and hold or create their own NFTs.”
McKenna further explained that the Syndicate members can earn governance tokens by staking TLM, and then they can cast votes to help manage the DAO and its digital assets. She continued with “These DAOs are on WAX because you can build good protocol-level [multi-sig wallets], which lend themselves to secure, powerful, scalable delegated democracy DAOs. You can also have pure rent-seeking where a few whales drain the funds.”
Moreover, McKenna added “It’s great to have an active community that loves the metaverse and is building their own cool stuff. And it’s great to have scale, because scale plus decentralization equals the potential for long-term, stable growth.”
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/10/21/alien-worlds-call-the-daos-within-alien-worlds-syndicates/