DAO & Treasury
The bedrock of our community was the formulation of the DAO (Decentralized Autonomous Organization). This would serve as the conduit for us to turn our defunct NFTs into a utility for our community to be able to collaborate on the road toward developing this new project. Our community votes on proposals facilitated by the team or any community member, as long as they hold a JungleBay Ape. The way the DAO governance is structured is simple: 1 APE = 1 VOTE.
Similar to the establishment of our DAO that utilizes decentralized technology to function, we implemented a Gnosis Multi-Sig Wallet that requires multiple team members’ approval in order for any transaction to move out of the Community Treasury.