Advisory Team: Web2 and web3 industry leaders, who advise the Founding Team on all operational matters and oversee the DAO's development.
Burning: The act of permanently removing a number of tokens from circulation on the blockchain.
Circulating Supply: The amount of tokens that are circulating in the market.
Community: FKWME Pass and DAO NFT holders.
Conviction Voting: Conviction voting is based on the community’s aggregated preference and uses time as a utility. Members can vote on different proposals, and the earlier they vote, the more tokens are allocated towards their eventual allowlist and giveaway spots.
Creator: Any individual who chooses to participate in creating digital art for the DAO or help govern the ecosystem.
Decentralized Autonomous Organization (“DAO”): Internet-native organizations collectively owned and managed by members with built-in treasuries only accessible through member approval and proposal voting mechanisms for decision making
Liquidity: The notion of having enough tokens available to be procured by users who seek participation in the DAO. This could mean having trading pools on verified exchanges and opening token transfer to holders.
Mint: The action of purchasing an NFT in the primary sale. Minting an NFT converts digital data into digital assets recorded on the blockchain.
Multiplier: A scaling factor that is counted towards your token vote to incentivize early voting and participation in the artist selection process. Multiplier rewards voters of an approved GORJS project with an increased chance of receiving a potential allowlist spot for a project.
Quorum Voting: The token-based quorum is among the most basic DAO voting mechanisms. For a proposal to pass, a certain number of DAO members must participate in the voting process. If the threshold is met, the decision that has received the most votes wins. Failing to reach the threshold means that the proposal fails and is not approved.
Roadmap: Timeline that lays out the short and long-term goals of the DAO within a flexible estimated timeline.
Staking: Means of earning rewards (e.g., allowlist access) for using the [ name ] token.
Token: An asset that resides on the blockchain, allowing the holder to use it for governance purposes within the GORJS ecosystem. This token will be implemented using the ERC20 token standard.
Total Supply: The amount of tokens that have already been created, minus any tokens that have been burned (removed from circulation).
Treasury: Total Supply less Circulating Supply.
Yield: Daily GORJS token earnings generated for holding an FKWME Pass or DAO NFT over time.