What is a DAO?
A DAO is a Decentralised Autonomous Organization.
What is the reason for the X7DAO token?
All dynamic aspects of the X7 ecosystem will ultimately rest with the DAO to decide upon.
What will the X7 DAO be able to modify?
The DAO will be responsible for modifying tokenomics, changing profit allocation, upgrading the upgradeable components, and determining the long-term fate of locked liquidity
Will the X7DAO be subject to buybacks in the ecosystem?
Yes, a portion of project revenue will flow into the DAO token in the form of liquidity injections
How many X7DAO tokens do I need to create a vote?
To create a proposal you are required to have 500,000 $X7DAO tokens
What is the duration of a vote?
It is not known yet how rapid the voting phases should be.
The initial durations for each proposal phase will be set as a starting point. However, these durations may be changed (within hard-coded limits) to meet future governance needs.
What are the phases for a DAO vote?
Details can be found in the Proposals and Voting section here
What does the Magister NFT do?
MAGISTER NFTs are designed to give investors responsible access to higher DAO voting privileges.
Majority MAGISTER vote overrides 50-75% DAO vote
How many Magister NFTs are there?
A maximum of 49 Magister tokens can be minted. Seven of these tokens were minted and given to the X7 development team. The other 42 may be minted for a fee.
What is a Magister Veto?
Any proposal may be vetoed by a majority of minted Magister tokens. It will require a ¾ supermajority DAO vote to overturn a Magister veto.
Where can I buy the Magister NFT?
You can mint it on X7Finance.org here
or
You can mint it on X7.Finance site here
