The GovDAO protocol, Avatar, is being developed over two phases.
Phase 1 is scheduled for completion in Q3 and sees Avatar being implemented in UBI Plus and GovDAO itself. UBI Plus will come first and is planned to have the following features:
- Ability to swap your UBI token for the new UBI token that works with the protocol
- Ability to obtain the UBI2 reward token which can be minted by holding UBI.
- A consensus mechanism for distributions, allowing users to receive weekly benefits (see below)
- User profile pages where users can vote for themselves or others, buy products/services (with UBI2 tokens), view profile metadata, and view transaction information.
Each week, 10% of the UBI Plus reward pool will be reserved for UBI holders and distributed according to their share of the UBI circulating supply. Additionally, 90% of the reward pool will be distributed to users according to the percentage of UBI2 tokens they have received during the week.
GovDAO itself will come after UBI Plus, also scheduled for Q3 as a beta product. This extra effort will be to implement additional NFT features, such as automatically creating an NFT for every user and reserving a small portion of its circulating supply for OPE and GOV holders.
Marketing and Promotion
As we are shifting to a completely decentralized and autonomous model of operation, all marketing and promotional efforts will be managed on GovDAO. This is not only for the benefit of legally not being considered a security token (i.e., if devs do not promote or market the project themselves) but for the ability for the community to automatically direct marketing funds wherever they think they should go.
Airdrops will also be managed by GovDAO, with any project built on it automatically distributing a small portion of its total supply to OPE and GOV holders over 18 months.
The goal of the Avatar protocol is to create a completely decentralized and autonomous system robust enough to be used for any purpose and by any kind of entity, large or small. Avatar allows users to be ‘collectively selfish’, producing value solely for their own economic benefit in a way that happens to benefit everyone else.