NACO is the LEGO in the DeFi world which differs from MAKER DAO, COMPOUND, YFI and even the recent SUSHI in diversity, creativity and fairness. We hope that NACO will be a work of art in the world of blockchain which represents freedom, equality, openness and innovation.
NACO team is entirely grateful and feels more motivated by the numerous investment offers we have received from VCs and angels even though we could not accept due to our community governance mechanism. Apart from the Presale and the 1% airdrop, any other NACO token can only be used after the approval of NACO DAO governance. NACO is a complete governance token and we hope that it can spread around the world. Everyone can participate in DeFi equally and being a part of NACO ecosystem.
NACO Team members are from different backgrounds and cultures across the world. Common interest, values and vision brought us together to form a unique team. To achieve openness and transparency of the decision-making process, we will elect 5 representatives from the team to jumpstart the operation of NACO project.
We will set the Governance permissions of each contract as a multi-signature wallet, and only make adjustments and decisions if 3 votes yes out of 5 representatives on one proposal.
The initial rewards will also be aggregated into this multi-signature wallet to achieve the goal of governance by the founding team.
After successful launch of the project, the community can re-elect the co-holders of the multi-signature wallet through the mechanism of proposal and voting. NACO DAO is designed to be run by community members in a clear and transparent manner. The community can vote on proposals to change the system parameters and to align individuals with common interests.