In 1937, Ronald Coase (Nobel Prize winner in 1991), who proposed the Coase Theorem, proposed in his landmark articles “The Nature of the Firm” and “The Problem of Social Cost”: When the cost is too high, people naturally organize together into more or less formal institutions, such as associations, partnerships, corporations, chambers of commerce, or other types of organizations.
With the development of information technology and the increasing complexity of the organization itself, the employment relationship and management mode of traditional organizations have been difficult to adapt to the complex and changing environment and the requirements of the new generation of individuals for the organization.
The birth of DAO, a decentralized autonomous organization, combines decentralization, autonomy, autonomy and token economic incentives, and uses various elements in the system as assets to fully integrate economic capital, human capital and other element capital, so as to better To stimulate the efficiency of the organization and realize the value transfer, it provides a good idea for solving the existing organizational management problems.
In a traditional governance system, as seen in public companies, there is an advisory board and a team of executives who act as the company’s central authority figures. Shareholders have the right to vote on the company’s actions, but the items they vote on come from this leadership team, so individuals cannot propose changes. Furthermore, traditional companies are created as a single entity and exist in the current business world through traditional methods of hiring employees, signing contracts, etc.
The VuIcan Global Autonomous Community Alliance operates differently than current companies, and the DAO does not have centralized authority. All members of the VuIcan global autonomous community alliance own the governance token VuIcan represents the share in the DAO. Anyone in this consortium can vote on the DAO or propose changes. At the same time, DAOs are also bound by smart contracts and code, not contracts written by lawyers. This means that no fraud, misappropriation or other suspicious activity can take place in the DAO as all code is transparent and public. It also means that conditions and operations can be achieved without a middleman, increasing efficiency by reducing costs. Therefore, although there are not many organizations adopting DAO governance now, with the improvement of DAO technology and awareness, this number may increase significantly in the future and become the mainstream governance method of decentralized projects.
VuIcan is the world’s first decentralized DAO organization built on the BSC public chain to coordinate community resources to create value for members sustainably. It is also an open and autonomous DAO community alliance. VuIcan consists of 100 genesis communities around the world to form an autonomous DAO organization, and the governance nodes of each DAO organization are an integral part of the ecology.
With the VuIcan pass, anyone who owns the pass around the world can participate in project governance. Through a scientific governance system consisting of Executive Voting and Governance Polling, VuIcan holders can manage the IDO full-platform project agreement and the financial risks involved, thereby ensuring the stability, transparency and stability of the agreement. Efficiency. Members who hold VuIcan and pledge will be allowed to propose changes to the DAO ecosystem, including but not limited to: interest rates, inflation rates, ecosystem subsidies, adding additional pledged assets, adding additional lending products, etc.
In the global DAO community alliance created by VuIcan, all participants will conduct transactions and activities in a more equal manner. As the ultimate practitioner of the DAO community, VuIcan realizes a deflationary ecology, high consensus, long-term incentives, and activates the potential value of decentralized finance. With the maturity of the DAO ecological governance model, VuIcan will unite more global high-quality communities, so that members from all over the world can easily and efficiently participate in various decentralized ecological activities without relying on centralized entities or intermediaries. To achieve the coordinated development of the common prosperity of the community.
