We are pleased to announce that Autonio is becoming a fully decentralized project thanks to the implementation of our governance system. Our goal is not only to become a truly decentralized project but also for DAO members to completely govern, contribute to, and vote on how Autonio as a project will move forward.
Autonio has always planned to become and meant to be a DAO. Community leaders using the suggestions, proposals, and advice of other community members in order to help develop the project. Many of those within the community bought into the Autonio DAO in order to take part in its development and through the years the team has taken the advice and followed the suggestions of the DAO on many aspects of the project. Autonio has truly been shaped by its community.
How will it happen?
The team will transition its responsibilities and resources over to the DAO. This includes social media, development of the project, responsibilities, and the treasury. For the safety of the project, it is planned to keep a team member on hand so that no bad actors can take the treasury for themselves.
Why is this the right time?
It has been in the works and talked about for quite a while, even making an announcement about proposals and DAO governance late last year, and at this time the team believes that they have done everything in their power to build and set up the Autonio Products to be what they are supposed to be. Five years of development has led to a myriad of accomplishments (of which we’ll have an article detailing) and achievements in DeFi, as well as multiple projects that are working and available for free to the crypto community.
What is a DAO?
DAOs are member-owned communities without centralized leadership and have all their specific guidelines and principles designed on a smart contract. They are governance systems that are needed in order to resolve various issues through decentralized voting that arise as the project moves forward and develops. Moreover, decentralized voting helps to honestly and transparently manage the treasury of the project and distribute the budget in various directions submitted by the DAO participants.
What will the DAO do now?
Any DAO member can create a proposal that is subsequently voted on by other DAO members, such management helps to jointly solve the further development of the project; from important aspects like product implementation, to everyday aspects such as marketing and social media activities. These tasks can be developed by DAO members or could use the treasury to pay for them.