GigaDAO is a decentralized autonomous organization (DAO) built on blockchain technology that offers a new and innovative way for communities to work together and make decisions. This full guide to GigaDAO will provide a comprehensive understanding of what it is, how it operates, and the benefits it offers.
A DAO is a type of organization that is governed by its members through smart contracts on a blockchain network. This makes DAOs completely transparent, secure, and autonomous, as the rules and decision-making processes are encoded in the code. In the world of blockchain, DAOs have been seen as a new way of doing business that eliminates the need for intermediaries and centralized control.
What is GigaDAO?
GigaDAO is a DAO that aims to provide its members with an efficient and transparent platform for decision-making. It operates on a blockchain network and uses smart contracts to enforce its rules and make decisions. The platform is designed to be open and inclusive, allowing anyone to participate and make decisions that will impact the future of the organization.
The Nerdz PFP is a unique sub-DAO of GigaDAO and operates independently from the main DAO, but it still has direct ties to GigaDAO. This sub-DAO will provide its members with a platform to participate in and make decisions that will impact the future of the organization.
One of the most important components of GigaDAO is the GigaDAOUpgrader. This is the upgrade authority used by GigaDAO, which is responsible for modifying the platform’s smart contracts to add new features, fix bugs, or make other changes to the organization. The GigaDAOUpgrader operates in a transparent manner, ensuring that all upgrades and changes to the code are pushed through it and voted on by the DAO’s members.
To ensure the transparency and accountability of the platform, GigaDAO requires a passing vote by its members before any changes or upgrades can be made. During phase 1 of the DAO, the passing vote has been set at 110 million GIGS to allow for quick decision-making while still preventing unilateral decisions.
The GIGS token is the native token of GigaDAO and is used as a form of representation of ownership in the platform. It is an essential component of the platform and is used for various purposes, such as voting, staking, and earning dividends.
The total supply of GIGS tokens is 10 billion, with different allocations set aside for presale, the team, staking, and the treasury. The GIGS tokens should be treated as shares and ownership, and the team has the right to retain 40% of their company at the initial token offering (IDO). In 2023, the GIGS token will be registered as a token asset and will pay dividends, with the implementation and amounts pending DAO decisions in 2023.
GigaDAO uses a vesting contract to ensure that new investors receive a certain number of GIGS tokens over a period of time. This contract sets out the terms and conditions under which someone is entitled to receive their GIGS and helps to align the interests of the investors and GigaDAO.
What is GigaDEX?
GigaDEX is a decentralized exchange (DEX) for buying and selling non-fungible tokens (NFTs). It is built on the Solana blockchain, which means that users can trade NFTs securely and directly with each other without the need for a centralized counterparty. This also makes it faster and more secure compared to traditional exchanges.
Spot trading on GigaDEX works similarly to spot trading on a traditional exchange. Traders can place limit orders that specify the price and the amount of the asset they are willing to buy or sell. The orders are then matched against each other and the trade is executed when the conditions of the order are met. The main difference between spot trading on a DEX and a traditional exchange is that the DEX does not involve any centralized counterparty, so the traders are matched directly with each other.
There are two order types available on GigaDEX, market order and limit order. A market order is an order type that enables users to buy or sell Crypto assets at the best available price on the market, while a limit order is an order to buy or sell a Crypto asset at a specific price or better.
Margin Trading and Leverage
Margin trading is when you buy and sell assets with borrowed money. This process is also called leveraging your position. Margin trading will be available shortly after the launch of GigaDEX and will allow users to buy fractions on margin, meaning they can take out a loan to buy fractions.
The concept of margin trading is similar to taking out a mortgage to buy a house – the bank keeps the house as collateral until the day you pay off the loan in full. In the same way, when you buy on margin, the fractions you buy are kept as collateral until you pay off the loan. The reason why you would buy fractions on margin is either because you don’t have enough money for the entire purchase, or you want to magnify your gains.
Lending will be available once margin trading is online. Lending on GigaDEX will allow users to lend out their assets to other users, who can then trade with those assets. The lender will earn interest on their assets, while the borrower can use the assets to trade and potentially earn profits.
GigaDEX also has a royalty system in place, which rewards users for participating in the platform. The royalty system is designed to reward users who have made a positive contribution to the platform, such as trading frequently, referring new users, or contributing to the community. The royalties are paid in the form of tokens, which can then be traded on the platform or used to purchase other NFTs.
In conclusion, GigaDAO is a decentralized autonomous organization that aims to provide a secure and transparent platform for decentralized governance. It leverages the power of blockchain technology to eliminate intermediaries and provide users with a transparent and efficient way of making decisions. With its decentralized nature, GigaDAO offers a number of advantages over traditional centralized organizations, including increased security, reduced costs, and a more democratic decision-making process.
Despite the many benefits that GigaDAO offers, it is still in its early stages of development and there is much room for improvement. As the technology and ecosystem continue to evolve, it is expected that GigaDAO will play a critical role in shaping the future of decentralized governance and decision-making.