Exploring the DAO Features in KeplerSwap

A decentralized autonomous organisation (DAO) is a block chain specific organisational model that directs attention towards resolving prolonged challenge present in nearly every industry and organisation – the principal agent of dilemma.

Block chain technology enables novel ways to exchange values and information while complex processes are automated in transparent and secure manner.

Starting a business which involves money with someone requires a lot of trust in the people you are working with. But it is difficult to trust someone you only interact with on the internet and whom you may never meet.

With DAO, you do not need to trust anyone else in group, just the DAO’s code, which is 100% transparent and verifiable by anyone.

DAOs are usually flat. Fully centralized services offered are handled automatically in a decentralized manner.

Votes and outcomes are carried on automatically without trusted intermediary. Implentation for any changes require voting by members.

The traditional organisations usually require human handling or centrally controlled automation prone to manipulations.

The features of DAO include:

• Automation of control
• Smart contract setup
• Funding deployment
• Voting rights

KeplerSwap appears to have most of its features are similar to those of decentralized autonomous organizations (DAO), aimed at securing trust among its members.

KeplerSwap operates a decentralized exchange system in line with the DAO. It is the first centralized exchange under the Decentralized Finance (DeFi) structure.

KeplerSwap accesses fully the DeFi 1.0 services as well as providing some other services including a referral programme, SPACE, Lucky Pool, etc, which DeFi 1.0 can not handle.

What are the DAO features incorporated by KeplerSwap?

Let’s take a look:

1. Automation of Control

KeplerSwap has an automatic of control, being a major feature of DAO. It functions as a sort of open-source venture capital fund, with a normal management structure or board of directors. Members of the organization collectively own and govern.

Decentralized Autonomous Organization has built-in treasuries to which no one member can access without the group’s permission. Proposals and voting determine any decision making, this ensuring that everyone in the organisation has a say.

SEEDS Token (SDS) is the native token issued by KeplerSwap and is used as the doorway to achieving decentralization and autonomy in its ecosystem.

Holders of SDS have access to certain benefits and privileges including the ability to effect decisions and vote on actions made by the team.

2. The Use of Smart Contract

This is another major feature of DAO. It serves as an assured backbone for KeplerSwap, which establishes the organization’s norms and safeguards its funds.

The smart contract is rigid and no one can alter the rules after the contract is operative except by a vote. Any attempt on the contrary will fail.

In addition, no one can use the funds without the knowledge of everybody because it is well defined by the smart contract.

3. Funding

This feature is apparent in the issuance of the Seeds token (SDS), which is the internal property of the group.

Individuals or entities who want to participate in the growth of the group can purchase the native token, which typically results in acquiring voting rights.

When a SPACE receives enough funding to be deployed, all its decisions are made in a consensus vote.

4. Voting Rights

In KeplerSwap, all Seeds (SDS) token holders become part of a SPACE, become stakeholders, and become eligible to vote and make proposals regarding the group’s future and policies as defined in the smart contract.

In conclusion, the adoption of DAO principles by KeplerSwap has given confidence, security to its members, as well as provided solutions to scalability and interoperability challenges, thereby putting to rest the thought of middlemen.

Source: https://medium.com/@mhizmanda/exploring-the-dao-features-in-keplerswap-4163a80ec3c0?source=rss——cryptocurrency-5