Collab.Land Launches DAO Pass for Governance Participation

03/09/2023 03:36 • Blockchain Briefs • 112 views

On March 9, the discord extension application plug-in Collab.Land announced on social media that DAO Pass has now started to apply. If users hold at least 10 COLLAB tokens, they can apply and participate in Collab.Land DAO governance. Collab. Land said that DAO Pass is neither transferable nor sold, and can never leave its wallet to claim. This means that if the transaction is attempted, the DAO Pass listed on the Opensea and other markets will fail. In addition, a wallet cannot have more than one DAO Pass, and the DAO Pass only gives voting rights. The voting rights are determined by the total number of COLLAB owned. A wallet with 100 COLLAB tokens has the same voting rights as 10 wallets with 10 COLLAB tokens.

Collab. Land: DAO Pass has started the application and is not tradable and can only be used for voting to participate in governance

Analysis based on this information:

Collab.Land, a leading Discord extension application plug-in, has recently announced on social media the launch of DAO Pass for governance participation. The development allows users to apply and take part in Collab.Land’s Decentralized Autonomous Organization (DAO) governance, provided that they hold at least 10 COLLAB tokens.

The announcement explains that the DAO Pass is non-transferable and cannot be sold. Moreover, it can never leave the wallet where it is stored. Any transaction attempt of the DAO Pass listed on Opensea and other markets will fail. As such, users must carefully manage and store their DAO Pass to ensure they maintain their governance participation.

Moreover, the DAO Pass has some limitations. For instance, users can only have one DAO Pass per wallet. Furthermore, it only grants voting rights based on the total number of COLLAB tokens held in the wallet. Therefore, a wallet with 100 COLLAB tokens will have the same voting rights as 10 wallets holding ten COLLAB tokens each.

The new DAO Pass will allow Collab.Land users to actively participate in the community’s decision-making process. The governance mechanism puts decision-making power in the hands of the community, making it more inclusive and participatory.

In conclusion, the launch of DAO Pass by Collab.Land will revolutionize community governance in the Decentralized Finance (DeFi) space. It allows users to take an active role in decision-making processes by leveraging their tokens’ voting power. Moreover, the system ensures the security of DAO Pass by ensuring it cannot be transferred or sold, thus avoiding hacking and fraud attempts.

This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/03/09/collab-land-launches-dao-pass-for-governance-participation/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.