This article is a complete breakdown of the PartyDao project: the essence and goals of the project, the team and background, investors and plans for the token, as well as the possibility of airdrop.
Article for tower crypto.
PartyDao is a crowdfunding protocol built on blockchain. At the moment the platform is mainly used for the collective purchase of NFT - creating pools (party). The protocol allows all participants of a pool to vote in order to manage the pool. It turns out something like a small DAO.
First, the host (the wallet creating the party) must create a party, in the settings he can choose the collection for purchase, the minimum amount of contribution, the period of collection, as well as can customize the voting on time and the minimum number of votes. In addition, the host can customize the privacy of the pool and make the entrance only for holders of nft, tokens or by allowlist. Once the pool is up and running, people can contribute ether into it, depending on the settings the amount can be fixed or floating. At the end of the collection period, a nft is selected for purchase, either by the host or by vote. If the pool is not collected, participants can claim their ETH.
Once the pool has been successfully collected, the party is managed by voting. The protocol allows you to send and sell nfts or tokens, divide them between contributors, interact with smart contracts. Basically you get access to a multisig wallet, but only with a vote weight depending on your portion of the contribution.
The project does not have a team as such, as it is managed by DAO, which was formed from crowdfunding participants and contributors to the project, but we still can distinguish main faces of the project.
Josh Palmer - Developer and product designer, worked at snapchat.
Danny Aranda - Appears on all AMAs of the project, former director of Ripple(XRP) in Europe.
Steven Ebert - Marketer, worked with multiple companies both on and off web3: Nike, Spotify, Starbucks, Amazon, Coinbase, Worldcoin, MakerDAO.
We've got the team sorted out, but what about the project's finances and partners? Everything is cool! In July 2022 the project raised 16.4$ mil from:
a16z - 10$ mil. Standart Crypto - $3.5 million.
Compound VC - $750K.
DragonFly - 500$ thousand.
Private investors from OpenSea, Zora, Figama, Uniswap - 1.65$ mil.
Price per token: 2$. FDV: 200$ mil.
PartyDao's token is guaranteed. Firstly, $PARTY already exists and is used for snapshot voting, at the moment only the project team and contributors own it. Secondly, the project team publicly voted on snapshot about tokenomics 1.5 years ago. That snapshot was accepted, so let's break down what was in that tokenomics.
7% - Crowdfunding participants.
14% - People who had a hand in creating the project, i.e. core team members and DAOs.
21% - Pool for future contributors (DAO participants).
58% - Trejuri community, for future community boost, as well as potential retrodrop.
Also judging by the round collection document from another proposal on the snapshot we can learn that the token's suplay total is $100,000,000 $PARTY.
Will the $PARTY token be distributed to the community? Probably! And here's why:
58% of the supply for community will have to go somewhere sooner or later, so why not give some of it to the community?
This project is all about decentralization and DAO governance, so including the community in the project management might be a good idea for the team.
The token will go on the market anyway, as this is the only opportunity to earn money for the team and investors, and they, I remind you, bought these tokens at 2$/pcs.
PartyDao is a project with a strong team, investors, a guaranteed token and a probable airdrop of their token. We'll see how and when the project will actually come out, but the prerequisites for the project are good. You probably have an obvious question, how to get this airdrop? We have written a guide especially for you, enjoy!