# Formula 76 DAO $FORMSS

By [Formula 76](https://paragraph.com/@formula-76) · 2022-05-02

---

Formula 76 DAO
--------------

Out of Beta July 6th, 2022
--------------------------

### OVERVIEW

**The Purpose of the Formula 76 DAO is to be a Globally Decentralized Crowdfunded and crowd sourcing Record Label owned and operated by its $FORMSS Token Holders.**

$FORMSS is a social currency used Primarily for Voting On and Submitting Proposals to the Formula 76 DAO as well but not limited to:

$FORMSS tokens can be used for the following: ● Stake FORMSS for token rewards related to its overall activities;● Stake FORMSS for rewards related to specific activities; ● Stake FORMSS for exclusive content; ● Stake FORMSS to vote and participate in the DAO; ● Stake FORMSS to subscribe to exclusive merchandise; ● Use FORMSS tokens to pay for services in its network

Activities of Formula 76 include:
---------------------------------

● Building a global community of Independent Hip Hop Artist ● Producing revenue through the events, sales of Formula 76-owned NFT Content ● Allowing the community to participate in the DAO by passing proposals and voting; ● Coordinating research and development for Hip Hop Artist in the DAO

FOLLOW AND JOIN OUR COMMUNITIES

[https://discord.gg/W4WaVBUMnv](https://discord.gg/W4WaVBUMnv)

---

*Originally published on [Formula 76](https://paragraph.com/@formula-76/formula-76-dao-formss)*