Dear #DeCats community,

after a longer and intense process of internal evaluation by the DeCats team we are very happy to announce today officially the start of the DeCats DAO.

The basic idea for the DeCats DAO is to give the community and stakeholders the power about important and basic desicions, support community participation in the development of the DeCats project and make the DeCats project really decentralized.

Examples for important desicions are e.g. the coming airdrop, the use of the team treasury which will be the DAO treasury, tokenomics for GameFi and desicions about other upcoming projects.

In conclusion: “We want to build a DAO to allow community members to work closely and together with the team to build a community where people want to be, and prioritize engagement over growth.“

TL;DR

• DeCats DAO is technically founded

• government token is gDECATS, a wrapped version of $DECATS

• constitutional government vote starts from now and will last for 7 days

• after constitutional government vote is succesful, the DAO is offically founded

• after constitutioanal vote is successful, the DAO treasury will be funded and DAO is fully working

DAO dashboard

The DAO technically is founded already. As government voting and DAO treasury tool we are using the service of aragon.org, a service which provides modern DAO dashboards and tools for several famous DAO’s, including e.g. Lido and Decentraland.

You can find the DeCats DAO dashboard here:

Government / DAO token: gDECATS

After longer internal evaluation the team decided not to invent a complicated (and expensive) “staking for DAO voting rights” system. We will use basically the $DECATS token as DAO/government voting vehicle, wrapped as gDECATS (=Governance DECATS).

You can wrap/unwrap your $DECATS easily on the DAO dashboard anytime (click on “Join the DAO” to wrap/unwrap). With this system we give $DECATS additional utility by using it as base for the DAO government token.

Any $DECATS holder which holds $DECATS onchain in any wallet can wrap and vote (and delegate votes). Simply like that, you don’t need to do something else than holding as much as possible $DECATS onchain in your wallet and wrap them to gDECATS to get voting power.

Wrapping and unwrapping gDECATS is possible anytime and without losses, it will be always 1:1.

Constitutional government vote

To start the DAO formally, today starts a first government vote and we ask hereby the community to vote actively for the constitution of the DAO.

The link to the constitution can be found on the DeCats website (https://decats.io/dao) and also directly in the respective government proposal. We hope for wide participation of all $DECATS holders in our first DAO government vote to build a good base for the DeCats DAO!

Vote here:

DAO treasury

As we want to make the DeCats DAO a real DAO, the team treasury, which contains actually an amout of 1,369.6117 $DECATS (~13,7% of total supply) will be transferred to the DAO treasury after the constitutional vote ended succesfully.

From this moment, only the DAO can spend any $DECATS from the former team wallet, conducted only by government vote. Every spend of $DECATS, including airdrop, but also smaller spendings like marketing and other expenses have to be conducted by government vote from the moment the DAO treasury is funded.

The remaining DeCats Meow NFT will stay in the team treasury and can be used for marketing and rewards by the team at own discretion without DAO proposal.

DAO communication

Instead installing a separate DAO forum, the team decided to open a separate DAO channel in the Discord server. Here we can discuss proposals and DAO related topics:

Proposals which are conducted by the team will be also announced in the official DeCats TG group and can be discussed there too:

DAO notifications

If you want to get notifications for new proposals, you can use Push App (app.push.org). Detailed instructions are availabile here: https://aragon.org/how-to/enable-notifications-for-your-dao-using-push-protocol (Before getting notifications from Aragon via Push app you need to be member of the DAO).

The DeCats team hopes for many active participants in the DAO and is pleased to be able to fulfil another milestone on the DeCats roadmap.

If there are any open questions about the DAO please don’t hesitate to ask in our official channels (Telegram and Discord)!

Yours sincerely,

Chairman Meow and the DeCats team