StarBlock DAO NFT Farming has been online for three months and has been widely liked and used by the StarBlock community, NFT project community and third party communities. Until 15th Sep 2022, StarBlock DAO has listed 56 Farming Collections, with more than 9,000 NFTs staked, more than 8 million STBs rewarded, and the total reward value exceeds 150,000 USD. StarBlock has become the world’s largest NFT farming platform.
StarBlock DAO is started by StarBlock NFT Marketplace. The goal of founding StarBlock DAO is to use Web3 to empower NFT, free NFT liquidity through staking farming, empower the NFT community through staking dividends, and establish a new NFT trading network through trading farming.
StarBlock DAO has issued the governance token StarBlock Token (STB), holding $STB will have governance rights, dividend rights, proposal rights and other rights. Up to 70% $STB token will be distributed to community in the form of NFT farming, NFT trading farming, $STB staking, etc.
Governance is the core driving force of StarBlock DAO, an important method for StarBlock DAO ecosystem, and an important right for $STB holders to participate in StarBlock DAO development. In the future, all affairs will be executed by decentralized governance. StarBlock DAO will start the governance in stages. First, StarBlock DAO will open the NFT Farming governance, including List Farming Collection, Increase Farming Pool, Decrease Farming Pool and Delist Farming Collection, by holding $STB to create proposals and vote.
DAO is a collectively-owned, blockchain-governed organization working towards a shared mission. If you do not know details about DAO, you can refer here: https://ethereum.org/en/dao/.
The current Farming Collection Listing is submitted through the google form and is reviewed by StarBlock DAO community, which has played a good role in the initial stage and has received support from many communities. However, with operations deepening, problems such as transparency have shown up.
Based on this, StarBlock DAO is now launching the governance process for List Farming Collection, holding $STB to create proposals, and list farming collection after voting. The process is as follows.
1 Create Proposal
Community users create a List Farming Collection proposal, and the proposal needs to meet several conditions before it can be supported:
➢ STB balance of Proposer is more than 100,000;
➢ There is no same proposal in last 7 days;
➢ NFTs number in the proposal collection is more than 3000;
➢ Holders number in the proposal collection is more than 500;
➢ Proposal options are STB number of the farming pool, which must include 8 options: Do Not List, 50,000 STB, 100,000 STB, 500,000 STB, 1,000,000 STB, 5,000,000 STB, 10,000,000 STB, 20,000,000 STB, and other options can also be added.
2 Vote Proposal
Community STB Holders can vote on the List Farming Collection proposal. When the following conditions are met, the proposal is considered to be voted successfully.
➢ Voting will be available in 24 hours after proposal created;
➢ Proposal voting time is 48 hours;
➢ The total number of voted STBs is greater than 1,000,000;
➢ The total number of voted users is greater than 100;
➢ The option with the most STB votes will be listed as the STB number of collection farming pool.
3 List Farming Collection
The collection will be technically evaluated and fully tested by the development community, and will be listed to StarBlock DAO NFT Farming DApp.
With the in-depth operation of the NFT project, the project may have a better and better impact on StarBlock. Then, community can create an Increase Farming Pool proposal to encourage more NFT staked and reward NFT users who have staked. The process is as follows:
1 Create Proposal
Community users create a proposal to increase farming pool, which needs to meet several conditions before it can be supported:
➢ STB balance of Proposer is more than 100,000;
➢ There is no same proposal in last 7 days;
➢ Staked NFT number is more than 500;
➢ Farming user number is more than 200;
➢ Proposal options are increased STB number of the farming pool, which must include the ones more than the current farming poo among the following 7 options: 50,000 STB, 100,000 STB, 500,000 STB, 1,000,000 STB, 5,000,000 STB, 10,000,000 STB, 20,000,000 STB, and other options can also be added.
2 Vote Proposal
Community STB Holders can vote on the Increase Farming Pool proposal. When the following conditions are met, the proposal is considered to be voted successfully.
➢ Voting will be available in 24 hours after proposal created;
➢ Proposal voting time is 48 hours;
➢ The total number of voted STBs is greater than 2,000,000;
➢ The total number of voted users is greater than 200;
➢ The option with the most STB votes will be updated as the increased STB number of collection farming pool.
3 Increase Farming Pool
The collection will be technically evaluated and fully tested by the development community, and will be increased farming pool to voted size on StarBlock DAO NFT Farming DApp.
Similarly, after the Farming Collection is listed, the community finds that the number of staked users is small or there are problems such as brushing. Then, community can create an Decrease Farming Pool proposal. The process is as follows:
1 Create Proposal
The community can create a proposal to decrease the farming pool to reduce the impact on the StarBlock community. The process is as follows:
➢ STB balance of Proposer is more than 100,000;
➢ There is no same proposal in last 7 days;
➢ Staked NFT number is less than 500;
➢ Farming user number is less than 200;
➢ Proposal options are decreased STB number of the farming pool, which must include the ones less than the current farming poo among the following 7 options: 50,000 STB, 100,000 STB, 500,000 STB, 1,000,000 STB, 5,000,000 STB, 10,000,000 STB, 20,000,000 STB, and other options can also be added.
2 Vote Proposal
Community STB Holders can vote on the Decrease Farming Pool proposal. When the following conditions are met, the proposal is considered to be voted successfully.
➢ Voting will be available in 24 hours after proposal created;
➢ Proposal voting time is 48 hours;
➢ The total number of voted STBs is greater than 3,000,000;
➢ The total number of voted users is greater than 300;
➢ The option with the most STB votes will be updated as the decreased STB number of collection farming pool.
3 Decrease Farming Pool
The collection will be technically evaluated and fully tested by the development community, and will be decreased farming pool to voted size on StarBlock DAO NFT Farming DApp.
After the listing of Farming Collection, there may be problems such as insufficient staked users, brush volume, etc. In order to maximize the interests of the community, the Delist Farming Collection governance will be launched, which also includes three steps: Create Proposal, Vote Proposal, and Delist Farming Collection, the process is as follows.
1 Create Proposal
Community users create a Delist Farming Collection proposal for the listed farming collection, and the proposal needs to meet several conditions before it can be supported:
➢ STB balance of Proposer is more than 100,000;
➢ There is no same proposal in last 7 days;
➢ Staked NFT number is less than 200;
➢ Farming user number is less than 100;
➢ Proposal has 2 options: Delist and Do Not Delist.
2 Vote Proposal
Community STB Holders can vote on the Delist Farming Collection proposal. When the following conditions are met, the proposal is considered to be voted successfully.
➢ Voting will be available in 24 hours after proposal created;
➢ Proposal voting time is 48 hours;
➢ The total number of voted STBs is greater than 5,000,000;
➢ The total number of voted users is greater than 500;
➢ The option with the most STB votes will be executed.
3 Delist Farming Collection
The collection will be technically evaluated and fully tested by the development community, and will be delisted on StarBlock DAO NFT Farming DApp.
In the future, more and more affairs of StarBlock DAO will be solved through governance. Besides the above four standardized governance processes, the community can also create proposal to governance other affairs.
It is believed that with decentralized governance operation, more and more users will join the StarBlock DAO community, empower the community and STB holders, and build the great future of StarBlock DAO together.
More Information, StarBlock: https://starblock.io/, StarBlock DAO: https://starblockdao.io/.