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Angel DAO Manifesto

The marriage between capitalism and democracy, as well as the brotherhood between capital and innovation, are coming to an end. Now, capital is only for the people with relationships and the banks that are too big to fail. The money for innovation comes with a prerequisite - kneeling down and giving up the revolutionary spirit. Silicon Valley and Wallet street failed us, and it is time to form a new league. We, Angel DAO, are forming to give back the capital power to the people. We are driving capitalism to its final form and to the end of its life cycle. It is the natural right of each individual to access the free market without worrying about crossing the border of nation states, to contribute directly in the global financial system without any middleman, to be empowered for the brilliant ideas, regardless of the location, gender or race.

We are trying to build an evergreen dao that is backed by enormous amount of fund in treasury to support innovators in web3.0 space

The Auction Contract will act as a self-sufficient generation and distribution mechanism, auctioning one noun every 24 hours, forever. 100% of auction proceeds (ETH) are automatically deposited in the Angel Dao treasury, where they are governed by noun owners.

Each time an auction is settled, the settlement transaction will also cause a new noun to be minted and a new 24 hour auction to begin.

While settlement is most heavily incentivized for the winning bidder, it can be triggered by anyone, allowing the system to trustlessly auction nouns as long as Ethereum is operational and there are interested bidders.

  • Treasury Assets
  • Angel NFT
  • EXP/ANG token ERC-20 token

In addition to the precautions taken by Compound Governance, Nounders have given themselves a special veto right to ensure that no malicious proposals can be passed while the noun supply is low. This veto right will only be used if an obviously harmful governance proposal has been passed, and is intended as a last resort.

Nounders will proveably revoke this veto right when they deem it safe to do so. This decision will be based on a healthy noun distribution and a community that is engaged in the governance process.