landKnowledge CenterInside CryptiseContactMap
landKnowledge CenterInside CryptiseContactMap

Cryptise City DAO

For starters, a DAO or "Decentralized Autonomous Organization" is a collectively-owned, blockchain-governed organization working towards a shared mission. It is designed to be completely autonomous and transparent with no central authority. Smart contracts set ground rules, enforce agreed upon proposals, decisions, and votes.

As a metaverse that’s committed to web 3 principles, the Cryptise City DAO is set to preside over affairs in a decentralised, community-driven manner. 

What is the Cryptise DAO?

The Cryptise DAO is designed to execute the vision of this metaverse - curating a paradise for crypto enthusiasts. It’ll achieve this by functioning as the official governing body of this virtual world. 

The DAO owns the most important smart contracts and assets that make up Cryptise City - virtual real estate, building materials, wearables, collectibles, and the Marketplace. It also owns most of the supply of $CRYC, the city’s governance token - this allows it to be truly autonomous as well as subsidize various operations and initiatives throughout Cryptise City.

In our pursuit of decentralization and autonomy, the DAO is set to empower the community to collectively manage the metaverse and make the most important decisions about the future of Cryptise City. At the start, certain rules will be mandatory for all DAO participants and platform users. These rules can only be changed with the consent of the majority of the community and taking into account the opinions of users, by popular vote.

How does the DAO Work?

The $CRYC token is instrumental to the daily running of the Cryptise City DAO. Large holders of the token will be able to initiate votes, while small holders will only be able to take part in votes.

In addition, each district of the city will be governed by DAOs which will answer to the main Cryptise City DAO. Owners of land plots (ERC-721, ERC-1155 tokens) will be able to vote and make important development decisions that affect them within the districts.

Members of the DAO will be able to vote on:

  1. Adding/replacing members of the security council.
  2. Allocation of resources such as land and funds
  3. Transaction fees, which are always in $CRYC that gets burnt.
  4. New features and upgrades to the metaverse.
  5. Development of districts and neighbourhoods.
  6. Story development for games such as  I Know This Place.
  7. Terms and dates of land auctions and asset sales.

A phased transition to full decentralization will ensure sustainable development in the early stages of building the metaverse. This will protect against outside interference and provide the basis for further full-fledged transition of the right to control the DAO to the user community.

How can I participate in the DAO

There are two main ways to be a part of the Cryptise City DAO:

  1. Become a holder of $CRYC, our governance token.
  2. Own a piece of land in Cryptise City.

Just like that, you get a say in the running of a metaverse like no other. It’s important to note that the quantity of $CRYC tokens and value of the land owned will determine your voting power within the DAO. These terms will be revealed when it's in your possession.

When you join the DAO, you become a part of our growing community, and contribute to the development of the first virtual world of its kind. Explore the limitless opportunities in Cryptise City today!

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