The concept of a DAO is one that is being thrown around a lot these days in Crypto. Every project these days either claims to be a DAO or plans to migrate to a DAO at some point. I believe the concept of DAOs comes from something very simple and that is Group Finance. The ability of people to decide what they want their money and funds to do, where they want it to go and what direction they want it to take. While Group Finance is not heard of as much as DAOs, probably because it has a less fanciful name lol, but back to the discussion at hand. I think we will see concepts like Group Finance that allows everyday people to make financial decisions concerning them. No more will they have to rely on the bank, hedge funds, mutual funds, or even the crypto project to make financial decisions for them. Their financial future is really and truly in their hands.
It was with utmost satisfaction that I found a project that takes Group Finance to a whole new level. PolkaParty is a platform that is focused on user created decentralized autonomous organizations or Parties like we like to call them. Through these parties users can pool funds together and decide what to do with these funds. Anything at all is possible with these parties, they could be used to invest in early stage projects, they could also be used to collectively pool resources for a common goal. So long as the party members agree to it, it can be done by the party. PolkaParty is chain agnostic and that means there are many features that let users win prize rewards.
PolkaParty is user-friendly, rewarding, and cheap so anyone can join the fun. Users can participate in any of the party models from Democracy to monarchy to weighted Democracy. Users get to interact with fellow PartyGoers for the ultimate DeFi experience.
PolkaParty, being the leaders of innovation, also have the first Revenue based NFTs that I know of. Users who buy their NFTs are entitled to a percent of all platform revenue. Only 1,000 NFTs were released at a price of 500 USDC each. 20% of all platform revenue will go to the NFT owners and there are 5 tiers of NFTs from the Platinum Apes to the Common Apes. Each had their own percent of revenue to be gotten and NFTs are randomly minted so it remains fair. Check out PolkaPlace to mint those PartyApes;
http://polkaplace.xyz
Lots of other features to come that I'm really looking forward to. One particularly exciting one for me right now is that their POLP tokens are the first Auto Liquidity tokens on the Ethereum network. What this means is that 5 percent of transactions gets added back into the liquidity pool to make sure that there is always enough liquidity for the tokens. It's a pretty common feature on Binance Smart Chain with projects like Safemoon adopting but it hadn't been able to be done on the Ethereum network before now. According to the team, the target has been set at 100k POLP tokens, and as soon as the contract fees reach that target it will automatically add liquidity. So far since launch under the past 24 hours there have been 3 auto liquidity events and I'm beyond stoked that this feature is up and running. I am eagerly looking forward to Parties launching and being able to join parties, so much to be excited for this project. With the plans shared by the team this is going to be a pretty big one. Join their telegram group for more information;
t.me/PolkaParty
You can also check out their website for more information;
https://polkaparty.io
Why is this project called Polka party when it is built in Ethereum. I learnt something new today that there is something like auto liquidity tokens reading your article.
Also those NFT , each one has to pay or a NFT can be brought by pooling for it?. Just asking.