Structure and Setup

Who owns FTTDAO? Who controls the FTTDAO treasury?

FTT holders.
Is FTTDAO a registered organisation?
FTTDAO is not a registered company. We are a collection of FTT holders and core contributors who agree to be governed by a set of smart contracts on the blockchain.
What is a DAO and why does FTTDAO use this structure?
A DAO‌ is a decentralised autonomous organisation, a structure used by many DeFi and crypto projects to govern their protocols. Decentralised — as there can be many DAO token holders with no single party having unilateral control. Autonomous — as any action successfully voted in by the DAO can be automatically executed on-chain without an intermediary.
"Decentralised" and "Autonomous" is a spectrum, with many projects including FTTDAO moving towards this goal over time. There are many factors to consider such as:
  • Inefficiency of DAO decision making
  • Balancing decentralisation and rewarding contributors — what if a few core teams contribute the most? Are they entitled to majority of funding and or rewards? If not, what incentives them to be contributors instead of free riders?
  • Limitations of current governance and blockchain technologies
How secure is FTTDAO ?
Like with any crypto project there is a chance for complete loss of funds, exploits or bugs in the smart contract or malicious actions, or mistakes made by multi-sig administrators.
For phase 1 we have 5 core contributors who control the multi-sig treasury, who will determine via a vote before any distribution or deployment of funds.


How do I participate in FTTDAO?

We are inviting the BFF community to collaborate, contribute partner and hold FTT.
Community Members: Non-FTT token holders can participate in our online and offline community channels, social media and share ideas. Good ideas will be adopted by the Core Contributors.
Contributors: Individuals or teams that can lead their regions events, recruitment and manage the community members.
Partners: FTT holders that want to donate to the DAO.
FTT Token Holders who donate $FTT to the DAO treasury: can vote on the direction FTT DAO and the use of the treasury assets.
Copy link
On this page
Structure and Setup