DAO = Decentralized Autonomous Organization
DAO Creation on XDAO.app
Binance Smart Chain (BSC)
Blocktunes DAO is made up of DEFI backed DAO smart contracts built on Binance Smart Chain (BSC). The DAO has a governance token and an investment LP token. Investors can track the performance of the DAO and voting members can take action on the DAO Dashboard.
The governance tokens give holders a 1:1 vote in the DAO, meaning 1 token equals 1 vote. Governance tokens will be issued to buyers of our ‘Voting Board’ NFTs. Sale began in Dec 2021 and lasting till 3/31/2022.
LP investment tokens are simply that, they are investment tokens that will fluctuate with the AUM, or Assets Under Management, in the DAO. LP tokens do not give holders any voting capabilities. To sell your investment tokens, you will go to the DAO dashboard and go to the bottom where it says ‘Burn LP’. You will then select the assets in the DAO you want to receive when you burn your bTUNES tokens.
We will be mainly using the Pancakeswap Finance DEFI platform on BSC for our main yield farm as well as using the Venus protocol to build a credit reserve fund. Farming yields will be used to pay operational expenses, as well as for marketing campaigns, and then the rest compounded into the DAO. Starting in May 1 2022, 50% of the DAO yield rewards will be distributed to token holders and the other 50% will be used to either compound into the DAO or to pay back any existing loans from the Venus protocol.
All commissions from NFT sales, music or merchandise sales, and funds earned through artist services will also be split between both DAOs to build the AUM.
See the BSC BlockTunes DAO contract on bscscan
BlockTunes DAO LP Investment Token Contracts
BlockTunes LP investment Token on BSC: