Crypto DAOs That Are Building Strong Communities: Woof (WOOF), Maker (MKR), And FIREPIN Token (FRPN)
What are DAOs? The term is short for Decentralised Autonomous Organisations and these are known to be quite valuable in the cryptosphere. Have a look at experts’ favourite DAOs.
The Potential Of DAOs
These decentralised organisations are backed by the blockchain.
For crypto projects, it is important that they are backed by strong communities. In the spirit of decentralisation, crypto projects transfer the power from the hands of a few developers to the users who make up its community.
Community participation has been an important source of success for numerous crypto projects in the space.
With the wave of projects we have in the crypto space right now, there are some doing amazing things with DAOs. The top three of those projects are Woof (WOOF), Maker (MKR), and FIREPIN Token (FRPN).
These projects have been phenomenal in building communities that have charted an amazing course for their futures. Here are how these projects are using DAOs to build strong communities.
Tokens You Should Look Into
Woof (WOOF)
Woof (WOOF) is a community focused meme coin with a DAO built on the Solana (SOL) blockchain.
The project focuses on building a community that’s focused on impact. It initially airdropped coins to its community members (people who signed up to be a part of the project).
With 27,000+ token holders, it is clear to see that Woof has built a strong community around its project.
Woof through its DAO has donated 10,000+ BTC to dog charities around the world. This is a testament to how strong its community is united around the project.
With this autonomy and improved community participation, the project has demonstrated how strong its community is. This kind of community participation is only possible where members of the community are focused on impact.
In addition, Woof intends to lower the barrier to crypto by educating newbies on various concepts within the ecosystem. These concepts will be hand picked by the community through its DAO. Woof is creating a solid community behind the causes it is promoting.
Maker (MKR)
Maker (MKR) is the governance token for the MakerDAO and Maker Protocol. The protocol is built on the Ethereum (ETH) blockchain and is responsible for managing the DAI stable coin.
The DAO pioneered the use of decentralised stable coins backed by its community and crypto collateral. Since 2015, the DAI stable coin has powered millions in crypto transactions and has the full trust of the crypto community.
The Maker (MKR) token allows its holders to vote on the future of the Maker protocol. Although it does not pay dividends, the token’s value is directly tied to the success of the DAI stable coin.
Furthermore, if the DAI stable coin is successful then the value of the MKR token will rise. This incentivizes token holders to push the project in the right direction. Maker is the most trusted decentralised crypto stable coin since its inception in 2015. This is a testament to how strong the community behind the project is.
FIREPIN Token (FRPN)
FIREPIN Token (FRPN) is a decentralised mulchi chain metaverse project backed by its community. It promises to build a 3D metaverse complete with games and an NFT marketplace and collectibles.
Although originally launched on the Binance Smart Chain (BSC) it plans to migrate to other blockchains including Avalanche (AVAX), Ethereum (ETH), and Polygon (MATIC). Furthermore, it will allow its token holders earn rewards by staking its token or providing liquidity by contributing to liquidity pools.
The best part? This project will be completely guided by the community. Its DAO will begin voting on the direction of the project as soon as it is fully funded.
FIREPIN Token’s community driven approach will ensure that a metaverse that is acceptable to the community is built. Thereby placing the future of the project in the hands of its community.
To become an early participant in this growing community to be a part of their success. For further details and research into the project and token presale, here are the official handles and website of the project.
Join FIREPIN Token: