octopus DAO, has a great dream.
octopus DAO was born on January 1, 2021 with the goal of becoming a decentralized metaverse app store with a purpose.
Octopus DAO is an interesting with a serious mission to save people in need of help, bringing the adoption of cryptocurrencies to mainstream scenarios with new concepts such as rewards, NFTS, decentralization etc. At the same time Octopus DAO aims to reduce the control of centralized institutions on the information side, trying to turn Work DAO into a reality and produce more DAO products.
Token holders have 100% ownership of the treasury assets from the beginning of octopus DAO's creation, and will have full restraint over the management to the community when the project smoothes out. This white paper was created with the purpose of creating the ground rules, using the community rules to restrain the evil doers and motivate the contributors.
And the election of the Leader is arranged in a cycle, reducing the weight of the project initiator, which can ensure that the harm caused to the community by the evil of the project initiator or Leader is minimized. The proposal application process, review steps, and voting weights are also written so that management and workers can listen to every voice in the community.
octopus DAO will make history after birth, and our goal is to exceed 1 billion holders!
Product Roadmap
Octopus DAO currently comes with a contract destruction repurchase octopus token destruction function, and each transaction can automatically get BNB dividends, each transaction transfer
LP can be automatically added to the pool to increase liquidity and pool thickness. Natural self-contained deflation model, currently planning to develop the product.
Octopus Gamefi
The game is currently in the scheduling, the first game will take a casual farming type, players can breed offspring NFT for sale through BOD NFT, plant cash crops in the farm for sale, pledge a certain OCTO Token to get exclusive NFT, early.
Octopus NFT
In the game, we will correspond to generate special NFT, each NFT will have different abilities, will get airdrop rewards in the future meta-universe world, our first online NFT platform is Opensea
Octopus Payment" Although blockchain has been developed for years, so far we have never found a proper, anonymous, decentralized payment gateway. Payment functionality is fundamental in a decentralized world, but most web3 payments are currently operated by web2. We will also plan to develop a multi-signature contract-controlled payment gateway to meet the payment needs of web3 projects.
More" and "Boctopus Gamefi" are currently under development, while "Boctopus Gamefi" will be released online. More products in the future will be determined by the community and the development team, which involves development costs, market demand, marginal cost calculation, etc. We will make more products to replace the Internet products of centralized institutions, and also develop tools and frameworks that are currently missing in DAO.
Community DAO Operating Rules
The octopus DAO does not have a CEO, only the Leader role exists, and the community can vote to replace the Leader.
The treasury of octopus DAO will be held by up to 4 signatories, Community Manager, Cryptocurrency Marketing Expert, Game Developer, Game Designer, details and responsibilities are available on the official website, and after the election of the four multi-signatory holders, the oath of office will be administered to After the election of the four multi-signer holders, the oath of office will be administered to the entire community (the community can propose, add, replace or reduce multi-signers).
Leader replacement elections can be held early if voted on by members within the community.
The treasury multi-signer and Leader may not serve at the same time.
A proposal vote must be initiated whenever treasury funds are involved, regardless of the size of the funds
Whenever any part of the white paper is modified, a proposal vote must be initiated.
Token voting weight: 80%
Work Group voting weight: 15%
Leader voting weight: 5%
Weighting (Chart)
OCTO Token Allocation & Economic Plan
The initial allocation ratio of octopus DAO Token is as follows: 1,000,000,000 OCTO in total.
DAO Financing
Private round price is 1OCTO=0.00028 USDT; 1USDT=3,500 OCTOToken
IDO launch price of 1 OCTO = 0.00083 USDT; 1 USDT = 1,200 OCTO Token
Binance, pancakeSwap launch price of 1OCTO=0.0016 USDT.
Private funding round: 20% (50% release before going live on pancakeSwap, 10% weekly thereafter)
IDO launch 30% (direct release)
Project development team: 15% (linear release )
Marketing and marketing team: 6% (linear release)
Leader: 4% (linear release)
Airdrop Program: 3% (linear release)
Other Team Spending: 12%
New Crown Virus Charitable Organization Grant: 5%
LP Pool: 5%
octopus DAO economic model
Octopus will have features such as automatic burning repurchase, automatic addition to the LP pool, and BNB dividends for Token holdings
A. Holders of Octopus with more than 50,000 pieces can enjoy 5% transaction fee BNB automatic dividend
B、 Automatically add liquidity pool 5% transaction fee will automatically increase liquidity
C、Automatically destroy 3% to the marketing wallet for buying back and destroying Octopus Token to increase deflation
D. On-line octopus DAO on-chain game to increase the use of scenarios and accelerate the use of on-chain transfers.
E. On-line minting stable coin OUSD function, new stable coin pledge module, establish stable coins within the meta-universe ecology
F、On-line exchange protocol Defi financial protocol automatically do market view, increase OUSD liquidity LP pool
G. On-line Lunchpad project debut subscription board, increase octopus DAO use scenario.
DAO Financing
We plan to conduct DAO fundraising, where the price of the private sales round is 1OCTO=0.00028USDT; IDO price is 1OCTO=0.00083USDT, online Binance, pancakeSwap price is 1OCTO=0.0016USDT
Considering the GAS cost and user group distribution, it will be planned to divide into multiple platforms for curtain funding, of which 3% of the fundraising is donated to the Ukrainian Presidential Poverty Organization as war-afflicted groups help.
We will generate corresponding Tokens according to the amount of financing and receive OCTO tokens directly on the DAO fundraising platform
To ensure a fair offering, we are also concerned about Tokens being owned by a small number of people, resulting in centralized control. Therefore, when the fundraising value amount exceeds 800 BNB, we will close the fundraising channel after 24 hours. Tokens will be generated and issued after the funding is completed.
Project Development Team
In the first phase, 15% of the Tokens will be allocated to the project development team for the initial development start-up capital, 3% of the Tokens will be equally distributed to all project developers, and 12% of the Tokens will be stored in the treasury and later given to the team with significant R&D contributions to the project through voting.
Other team eco-partners
In addition to the above Token allocation, we also have Token allocation for other teams, accounting for 12% of octopus DAO Token, including the operation team, full-time staff partners and so on, so this piece is set aside. This part also belongs to the treasury funds, the specific use of which requires proposals from the community, which can also propose to use it for any other non-team aspects, including destruction, etc.
Financing Use
The financing funds are mainly used for server rental and purchase, game development, agreement buyback destruction market making, stable coin OUSD agreement LP pool, API interface rental and purchase, security audit, cooperation expenses, advertising, initial LP pool establishment, etc. The server currently costs $5999 a month and will be expanded in the middle and later stages, while a disaster recovery server will also be needed. The security audit includes contract code, organization management, and other code security logic audit. We also need to call on high-performance CDN servers to prevent DDOS attacks and regular SQL, XSS and other network attacks. For full time workers, we will have a partial salary package + Token option bonus. Also the later product development requires continuous expansion of server resources and bandwidth resources, all of which require no small amount of money.
Security project direction
In the event that octopus DAO does not elect four multi-signature holders, the full amount of funding and remaining Token tokens will be managed by octopus DAO's multi-signature management committee.
After octopus DAO's four multi-signature octopus commander-in-chiefs are determined, the assets will be migrated to the octopus DAO multi-signature treasury. The octopus DAO multi-signature holders are publicly elected by four people, which can ensure absolute fairness and impartiality.
One of the community rules is that any use of treasury assets must be initiated by a proposal vote.
From financing, fund migration, to any part of the use of funds, to avoid personal misappropriation of funds
Code Security
After the financing is completed, we will start the code security audit of ERC, which will be conducted by a professional security agency. After the completion of the first product iteration, we will start the security work for the whole product, including but not limited to server security, front and back-end code security audit, organizational structure security audit, logic vulnerability security audit, etc.
Proposal posting Voting process
Any token holder can post a draft to octopus DAO's Twitter and discord, and we will create a special proposal template. All proposals will be collected (mod) and discussed once a week. After the draft is posted, it will be discussed by the four multi-signers of octopus DAO, the administrator, the leader, the full-time staff and other workers, whether to hold a public vote. After the internal vote is approved (more than 60% of the votes), a public vote will be held and the decision to implement will be made.
Refund plan
No project can be 100% successful, including octopus DAO. if the project fails for any reason, the community will initiate a proposal and if it is voted on, a refund process will be initiated.
We will calculate the funding status of the DAO at that time, and the amount left in the treasury, and take a snapshot of the addresses invested at that time. Everyone will get a fair refund, and if the funding fails, an investment form will be placed on Twitter and we will check the addresses.
Risk Warning
Because it is 50% of Token supply is released through financing, all investors can get a positive rate of return as long as the rate of return created by the community is greater than the rate of utilization of the financing amount. The larger the financing amount, the greater the profitability pressure on the community, and the less revenue everyone shares equally, but the lower the cost of risk shared equally. If the amount of financing is smaller, the less pressure on the community to make a profit, the less revenue everyone shares equally, but the higher the cost of risk shared equally. Because all the money is within the multi-signature treasury, regardless of how the project progresses, having a sound exit mechanism for early stage investors reduces their risk. So for early stage investors, please cherish the voting rights in your hands, because any use of funds within the treasury requires a proposal vote!
The early stage of the project may result in a greater utilization of funds than community earnings, and the main early community receipts come from LP fees and other community revenues. Community earnings in the mid to late stages may exceed the fund utilization rate.
Official Address：https://www.babyoctopusdao.com
twitter: https://twitter.com/octopus_dao
telegram:https://t.me/BabyoctopusDAO
Discord:https://discord.gg/QXMFKj78K2