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What the GEN token is used for in daostack?

A simple explanation of Daostack and the GEN token. DAOstack aims to be the wordpress of DAOs.

GEN is


The utility token for the Daostack framework for DAOs.

GEN is used for


  • Staking on proposals to have a sorting mechanism.

A problem with majority voting and scaling is that large DAOs will have more and more proposals for the members to vote on.

Why would value accrue to GEN token?


Governance tokens offer a potential of future cash flows. GEN is a utility token for a meta-governance protocol.

No fees implemented yet.

Potentially

  • GEN holders earn rewards through staking.
  • Demand from different DAOs using it.

How GEN works


DAOstack’s idea is

  • a governance system and a prediction market in one.

Predicting is done by staking GEN.

For every proposal a small number of GEN stakers get shown proposals and predict if it will be passed or not. If they predict yes and the proposal gets passed they earn a reward.

The proposals with the most stakers predicting yes rise to the top in the governance system to be voted on.

Voting is done with reputation.

  • Reputation can be earned in different ways chosen by the DAO.

More on DAO tokenomics here.

What is DAOstack?


DAOstack is a framework for Decentralized Autonomous Organisations (DAOs).

It aims to be the wordpress of DAOs where anyone can easily create a DAO for coordination and governance.

Docs


Paper

Docs

Token allocation


Hodlers

TOTAL: 60 000 000 Tokens

ICO: 30 000 000 Tokens

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Explanation video


GEN / Daostack price


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