HomeNewsTomoChain Lab launches TomoMasterDAO governance platform

TomoChain Lab launches TomoMasterDAO governance platform

Tomochain is a general-purpose smart contract platform enabling the development of high-performance dApps. The platform uses the efficient Proof-of-stake Voting (PosV) consensus algorithm ensuring transaction fees are relatively low. Moreover, it also increases the throughput of transactions. Now, TomoChain Lab has launched the governance platform known as TomoMasterDAO to ensure funding for projects on the blockchain.

The main aim of TomoMasterDAO is to provide an optimal user experience through the balance of security and simplicity. In addition, the DAO is taking a new approach to blockchain governance.

Focusing on user engagement, TomoMasterDAO will help build new technology in the ecosystem while running community initiatives.

The DAO will use the new $tDAO token. Moreover, users can take advantage of the token in various activities like proposing bounties, voting, and supplementing funds. The team has also announced that interested users can buy the tokens in the IDO launch on LuaStarter.

LuaStarter is the first multi-chain Initial Distribution Offering and fundraising platform on the LuaSwap decentralized exchange.

Now, let’s talk about some benefits of the TomoMasterDAO.

  • Funding of Projects – TomoMasterDAO assists with up-and-coming requiring financial assistance. In fact, the ecosystem has around $2 million specifically for that. Projects can apply for funding or launching a project and building new software.
  • Community Driven Developer Bounties – TomoMasterDAO will also implement a community-driven developer bounty program. Users will propose bounties for technologies they would like to see using $tDAO tokens during bounty grant rounds.

The DAO will launch its IDO on LuaStarter at 9 AM (UTC) on 15th October 2021. The IDO will have a total supply of $4 million tokens with a full raise of 50,000 $TOMO tokens.

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