The OBADA DAO (Decentralized Autonomous Organization)
The OBIT Registry is not “owned” by anyone. There is no company and no central authority. It’s operated by the OBADA DAO, a Wyoming DAO LLC (available July 1, 2021), a decentralized autonomous organization.
A decentralized autonomous organization is decentralized because there is no single owner or entity in control. It’s autonomous because it consists only of an on-chain software application that runs with no human intervention. It needs to be an organization because humans need to run the servers, the application will generate a profit that needs to be distributed and decisions need to be made not only for changes but to set fees and rewards.
DAO members are like the “owners” of this non-company. They run the nodes, vote on all platform changes, and set all platform fees and rewards. The DAO is an open organization. Any actor in the asset disposition ecosystem can participate by making a financial investment to stake a node. Platform fees and rewards are collected and distributed nightly back to the DAO members as “profit”. Rewards are issued as “dividend yield”.
The OBADA DAO
The final system will be run and governed as a DAO.
* DAO Members will operate the “nodes” (the OBADA Full Core). * DAO Members will vote on all changes. 1 vote per member. Everyone is equal.
* DAO Members will be compensated by: * Setting their their own fee structures for all services, including basic “access to the blockchain” through their node. * Receive a share of the collected network fees (“gas” and “asset disposition service fees” * Receive “token rights” which is a share of all legally implemented token sales (see below). * “Ecosystem Rewards”, a cryptographic network incentive for any “token sales” (see below).
OBADA DAO LLC
deals with the virtual world
* Established as a Wyoming DAO LLC * Membership is open to asset disposition sector organizations that stakes $5000 in OBD. * accredited/corporate investors only * Voting Responsibilities * improvements and changes (via offline vote for now) * everything that can be decentralized and automated. * currently fees, rewards, etc. *** Become a DAO Member**