Participants in the first Waves-based DAO will select projects to receive grant

The decentralized autonomous organization Ventuary-DAO launched the eponymous crowdfunding application and selecting projects for the Waves Labs grant program. This was reported to BlockchainJournal by representatives of the Waves Platform.

Using the application, independent developers will be able to publicly apply for Waves Labs grants, and the community will support or criticize projects through voting on the blockchain.

“The final decision on the grant is made by Waves Labs based on the voting results. At the same time, registered users supporting the project will be able to receive from 10% to 50% of the deposited funds as a bonus for transactions in favor of the winning project, ”said Waves representatives.

Projects not selected for the grant program, in any case, receive funds from the DAO participants who supported it. The Waves Labs grant fund is 1 million WAVES, in each case the grant size is determined individually.

“The launch of Ventuary-DAO is the turn of Waves Labs towards a more open approach to financing promising projects. The selection system is becoming more transparent, developers are getting a feedback community, and the community can influence the Web 3.0 ecosystem built around Waves, ”said Vitaly Tsigulev, chief operating officer of Waves Labs.

In order to apply for a grant or vote on projects, the user must become a member of the decentralized autonomous organization Ventuary-DAO. This can be done either at the invitation of existing participants, or by sending a request to the Ventuary-DAO site.

At the time of launch, 21 projects are available for voting.

The decentralized Ventuary-DAO application was created using the RIDE programming language, which was launched on the Waves core network in June 2019 .

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