New Order DAO – Bring Innovation to DeFi with EPNS

Blockchain technology has brought about a revolution in the world of tech. It gave us Cryptocurrencies, NFTs, Decentralized Finance (DeFi), and much more. Blockchain brought the meaning of the word ‘Decentralized’ to a whole new level and to take it a step further came ‘DAO’ i.e., decentralized autonomous organization.

In 2021 the word ‘DAO’ gained immense attention. DAOs gave control to the people from anywhere in the world to come together and collectively make decisions without the presence of any hierarchy. Every voice is heard in a decentralized autonomous organization (DAO).

What are DAOs?

Decentralized autonomous organization (DAO) has become the next big trend. It is the new star of the crypto world. They are an internet community driven by shared bank accounts. They do not have any centralized leadership, they are owned collectively by members.

In simple words, a group of people from any part of the world come together on the internet to form a community in which they invest capital using a digital wallet. They can also be called collective investment groups. They act as Venture capitalists (VCs) for DeFi projects.

DAOs are based on Blockchain technology, thus making DAOs decentralized. There is no CEO or CFO in DAOs to change the structure or rules, unlike legacy systems. Rules pertaining to DAOs are coded in smart contracts and cannot be changed unless members of the DAOs vote to change them.

DAOs oversee the operation and allocation of resources involved in the projects they are attached to and make sure the project is a success in the long run.

To own voting power in DAOs members have to buy Governance tokens, they are cryptocurrencies bound to a certain protocol. These Governance tokens are as good as equity in a DAO giving members the power to vote on proposals relating to a certain project.

Mark Cuban, Billionaire Investor recently tweeted, “The future of corporations could be very different as DAOs take on legacy businesses,”

DAOs also manage DeFi apps via decisions made by Governance token holders of the DAO. DeFi is a Billion dollar industry. Every day a new breakthrough is made in the DeFi space resulting in a better alternate financial system i.e., decentralized in nature and offering financial instruments and services that provide solutions to problems overlooked by legacy systems.

New Order DAO is one such DAO that promotes DeFi projects and upholds innovation and growth of different DeFi protocols.

What is New Order DAO?

New Order DAO is a platform acting as a DAO incubator and accelerator to promote DeFi innovation through promoting chain independence, machine learning, and new asset classes. It is a community-oriented incubator that will generate the next wave of DeFi 2.0. It provides building resources to budding and promising DeFi projects.

Blockchain technology is leveraged to create a DeFi-incubator that is self-governed. The members of the New Order DAO exercise their votes to select which DeFi project to promote and support. They support Web 3 financial products, tools, and applications that are chain-agnostic and unleash DeFi’s full potential.

New Order DAO operates as a launchpad for DeFi projects as they support early-stage DeFi’s that aim to create a multi-chain DeFi app focused on generating a new-age class of assets. They help promote the DeFi protocol from an idea to market adoption. The New Order DAO is not limited to providing project funding but also providing building resources like product advisory, etc. They provide assistance on technical issues, legal issues, security issues, and feedback from members of the community.

Governance token holders actively participate to vote on resource appropriation for project fund distribution and rewards to community members.

How the New Order Ecosystem works?

The New order ecosystem has community members and ecosystem partners making it a two-tier approach. It is governed by its native token ‘NEWO’. It operates as a multi-chain governance token. NEWO token is used for initiation governance, selecting and distributing funds to chosen DeFi projects, and allocating community rewards.

How are Proposals selected by the New Order DAO?

Anyone holding the NEWO governance token can be a member of the DAO. Tokens that are not yet distributed are allocated through contributor rewards, liquidity mining incentives, community drops, etc.

Community members holding NEWO can propose projects to be undertaken and can vote whether they should be accepted or not. DeFi teams can pitch their proposals with the goal of securing seed money for their DeFi innovations.

The proposal steps are simple and as follows:

  1. Discussion – DeFi teams can create templates and voting parameters.
  2. Proposal – Make a proposal relating to DeFi innovations.
  3. Submission – Submit their proposal to the members.
  4. Vote – After the submission is done the members vote on the proposals.
  5. Enactment – Proposals accepted by the community will be enacted.

What is the Revenue Generating Model of the New Order DAO?

Community members make proposals regarding yield farming strategies, which liquidity pool should be selected, and how assets should be allocated from the DAO Treasury. A portion of the fees incurred through participation in multiple liquidity pools is received by the Treasury.

DeFi innovation proposals received by the DAO are selected through voting by members of the DAO. DeFi protocols showing potential are selected and they are allocated funds. The members also receive the right to participate in the governance of the incubated DeFi protocols.

Collaboration between the New Order and EPNS

The collaboration will facilitate seamless communication between the New Order DAO platform and its members through direct push notifications received in their linked digital wallets. EPNS has a mobile application, chrome extension, and decentralized application thus ensuring easy access to receiving notifications through any medium that the community members opt for. All the users need to do is subscribe to the New Order channel created on the EPNS protocol for receiving the push notifications.

The users will receive the following notifications and can take part in the governance process without missing deadlines:

-Updates about new yield farming strategies proposed by other community members enabling prompt participation in decisions regarding the future of the DAO.

-Notification regarding new proposals by DeFi teams about new and innovative DeFi applications.

-Opening and Closing the window for voting on governance proposals.

-Voting results declared.

It goes to prove that the collaboration between the New Order DAO and EPNS will help create innovative DeFi applications sooner and revolutionize the DeFi space.

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