16 April, 2022
#1 What is a DAO?
DAO stands for Decentralized autonomous organizations.
DAOs are an effective and safe way to work with like-minded folks around the globe. Decisions are governed by proposals and voting to ensure everyone in the organization has a voice. Once the smart-contract is live, no one can change the rules except by a vote.
#2 What is TheTreeDAO?
TheTreeDAO is a DAO regarding everything around supporting and planting trees to make a sustainable and evironmental future for everyone to enjoy.
TheTreeDao is working together with multiple non-profit organizations which support a sustainable future. More about it on our Website.
#3 How does it work?
The backbone of a DAO is its smart contract.
The contract defines the rules of the organization and holds the group's treasury. Once the contract is live, no one can change the rules except by a vote. If anyone tries to do something that's not covered by the rules and logic in the code, it will fail. And because the treasury is defined by the smart contract too that means no one can spend the money without the group's approval either. This means that DAOs don't need a central authority. Instead the group makes decisions collectively and payments are authorized automatically when votes pass.
#4 How do I become a TheTreeDAO member?
Either by discovering, promoting and investigating into project and making a proposal or by buying the token and having a right to vote in these proposals. The amount of tokens do not matter since everybody only has 1 vote so truly the community decides what the community wants to support.
#5 Is it safe?
Like we already mentioned in #3 the Backbone of the DAO is a smart contract and not a central authority and no one can change the smart contract except by passing a proposal where every community member is able to vote.
Verified MIT license smart contract: https://bscscan.com/address/0xf7bEfc91f37A206A087c4debc4c0EC9deC02499c#code