What Is BaconDAO (BACON)?
BaconDAO is a Decentralized Autonomous Organization (DAO) that brings collaborative learning and trading of cryptocurrencies into one place. A DAO is an organization that developers create to automate decisions and transactions. The BaconDAO aims to build a vast and knowledgeable crypto community by harnessing its knowledge to help the community learn and earn profits from the digital currencies. BaconDAO also aims to become a full-stack NFT Incubator with an NFT launchpad and offer these services to its community. It seeks to use the funds from the revenue generated to the community.
According to its whitepaper, BaconDAO offers a variety of features to solve the shortcomings of other digital currencies. Following are the problems and solutions:
BaconDAO members don't need to purchase a membership, unlike other crypto-paid groups. Instead, users can hold native tokens of BaconDAO in their wallets for memberships, and at any point in time, they can trade their coins to get their funds back.
Most paid groups focus on gaining profits from expensive membership fees and often have a low quality of information. However, BaconDAO contributors have a vested interest in improving the community's content and services. Their profits depend upon the token's success.
Other crypto-paid groups lack collaborative research and education. BaconDAO encourages sharing helpful information and resources to cultivate collaborative research and learning environment. The platform rewards such members who provide valuable data.
Private sales are usually accessible by individuals with connections and significant capital. However, BaconDAO does not discriminate between small traders and significant VC funds. It also allows all the pool members to participate in private sales.
Most paid groups don't cater to the members and allow them to vote. BaconDAO members, on the other hand, can vote on decisions of the DAO by holding the BACON token.
The BACON token is the native ERC-20 token of the BaconDAO ecosystem that works on the Ethereum blockchain. The BACON token is a membership-based governance token. The token owners can use it for trading in the BaconDAO ecosystem. A governance token is a token that empowers its owners to participate in the voting to shape the future of a protocol. BACON token holders can access discord channels for exclusive content, altcoin gems, private sales, and more. Token owners can also participate in voting, determine the future of BaconDAO and earn BACON coins.
In tokenomics, the BaconDAO ecosystem has allocated the total token supply as follows:
Thirty percent of the tokens are reserved for future usage.
One percent of the tokens are for airdropping to the initial contributors and long-term members.
Five percent of the tokens are allocated for the strategic advisors.
Two percent of the tokens are allocated for public sale.
Five percent of the tokens are for seed sales.
Four percent of the tokens are private sales A.
Four percent of the tokens are private sales B.
Thirty-six percent of the tokens go for community issuance.
Ten percent of the tokens are for team.
Three percent of the tokens have been allocated for the DEX liquidity.
Liquidity is the easy conversion of an asset into traditional currency without impacting the market price.
History of BaconDAO (BACON)
The total supply of BACON tokens is 200,000,000 BACON. The whitepaper was published on May 24, 2021.
