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Community DAO

Create your Abulé community DAO (decentralized autonomous organization) to achieve common goals

Introduction

Imagine if you could band together with like-minded Abulé community members and invest your $CARE tokens to support your common goals. A DAO (decentralized autonomous organization) gives you the power to do exactly that.

Your $CARE tokens, earned on the Abulé platform, may be used within the platform or cashed out as extra income. They’re the currency exclusively built for the Abulé community. Like with physical money, you can pool your funds with like-minded Abulé community members. This may enable you to invest in something as simple as a road trip or as complex as charitable activities with donors and board members. A DAO enables you to do this as a collective group with no centralized leader or company managing proceedings – your community is your guide.

What is a DAO?

DAO stands for decentralized autonomous organization. Abulé community members can use a DAO to pool their $CARE tokens and come together to achieve a shared goal.

Within the DAO, the blockchain functions as a smart contract – a digital agreement – which makes clear the set of rules around how the $CARE tokens will be managed, saved or spent. DAO members can vote on decisions about how the pool of $CARE tokens is spent and managed and this is encoded into the smart contract. This ensures all community members achieve their goals together in a way that is fair and transparent.

With a completely flat hierarchy, DAOs put the power back in the hands of the community. Whether Abulé community members want to cash out funds for a bus that transports their children or to simply throw a summer block party, a DAO is about the community coming together to make their goal happen.

How does a DAO work?

Abulé is built upon a philosophy of decentralized care. That means we don’t turn to the government, employers or any other governing authority to take care of us. Instead, we rely on the power of our village to uplift, strengthen and care for us. A DAO enables us to form smaller communities within our village, based on shared goals, pooling our resources to make amazing happen.

Every DAO has a different mission. It may be single-purpose or part of a broader project. It’s up to you. Here’s how it works:

  • Abulé community members come together on the Abulé platform to agree upon a shared goal.
  • The community members set up a blockchain smart contract, which contains the rules of the DAO. This specifically states how any $CARE tokens that the DAO receives will be saved, managed or spent.
  • The DAO runs automatically. If it receives $CARE tokens, it will store or distribute the money according to the blockchain smart contract.
  • Members of the group can submit proposals, vote and weigh in on how the $CARE tokens should be stored and distributed.

What are the benefits of a DAO?

DAOs are an effective way to collaborate transparently and fairly with other members of your Abulé tribe. They enable autonomous and independent action, free of a governing body or corporation so that you can make the broader changes that you want to see in your community. As communities evolve, Abulé evolves.

Efficient: DAOs enable collaboration across locations – meaning no in-person meetings for busy caregivers and community members. The rules of participation are clear and explicit, and action is executed automatically by the DAO.

Transparent: The rules and regulations of the DAO are written into the smart contract, and the DAO executes actions on those clear rules and regulations. All transactions that happen can be seen on the blockchain.

Autonomous: A DAO is governed by you and your Abulé tribe. Decisions are made together and action is taken collectively to ensure you reach your goals in fair, autonomous and transparent ways, free from a corporation or government oversight.

How do I start a DAO?

In the near future, you will be able to create a DAO by connecting with your Abulé community to establish your collective goals and the rules around those goals. Decide how you will continuously make decisions and encode that information into a smart contract. Start adding $CARE tokens and planning for those big, blue-sky, community-changing purchases. The DAO is then owned by everyone who is a member.

Still have questions? Get in touch with us! Our team is happy to help.