RugDAO represents the heart of the RugRadio decentralized structure.
The $RUG and $RDAO tokens are slow released over time. This means the DAO will grow slowly with them to ensure decentralization. A governance council will be created through a public election process. This council will represent the community for the first 6 months of the DAO.
The DAO is how the community hold long term ownership in the ecosystem. As the DAO grows bigger and more people join it, it will get more and more decentralized through time. We are putting 1,000 ETH into the RugDAO from the primary sales, in addition to 70% of ALL secondary sales profit.
A community DAO with a mixed NFP/FP structure custom built by SyndicateDAO to meet the needs of a large community offering.
SyndicateDAO is revolutionizing investing by changing how communities and capital work together through accessible, effortless, and social web3 technologies.
This means that The RugDAO will be the caretaker of the RugBank. The bank is the heart of the token rewards structure in the ecosystem. This is how we run programs like Learn to Earn and also how we reward the content creators within the RugRadio ecosystem.
These $RUG tokens are then added to the pool that is redistributed throughout the ecosystem to members and creators.
The Sub-DAO that the RugBank sits within is created with a custom governance framework to ensure that, should there be any changes made to the Tokensomics structure, that is done so in a way that ensures that it’s not detrimental to the overall functioning of the ecosystem.
The merit of this framework is to create a path where the tokenomics structure can grow and change with the growth of the ecosystem, but in a way that is thorough and comprehensively aligns with the continued stability of the ecosystem.
RugBANK will accumulate a holding of 10% of all daily produced $RUG utility tokens which is approximately 4.3 million $RUG tokens/year.In addition, upon launch the RugBank will hold 1000 Member passes, and 1000 Genesis NFT’s. These tokens will be used throughout the ecosystem and rewards, gifts and incentives.