Afreum DAO is the community-powered decentralized autonomous organization that will drive the development of the Afreum ecosystem into the future. The DAO was announced on January 5th, 2021, and since then, the Afreum team has started planning for the full decentralization of the Afreum ecosystem. The entire process will take a number of months, starting with finalizing the Afreum DAO Charter, decentralizing the applications, and culminating in AFREUM X (AFRX) holders being able to propose ideas, and vote, on how to drive the Afreum ecosystem forward.
The announcement of Afreum DAO, which will oversee 55% of the total supply of Afreum (AFR), draws a line in the sand, relegating the role of the founding team to implementing the DAO, and shaping proposals that build out the Afreum ecosystem as defined in the Afreum Whitepaper. The post-Whitepaper roadmap shall be determined exclusively by the Afreum DAO, while philanthropic and social enterprise endeavors of the project will be managed separately by a foundation.
Participation in Afreum DAO is limited to accounts holding AFREUM X (AFRX) tokens. Since AFRX tokens are primarily distributed as rewards in the Afreum, this essentially limits DAO participation to accounts that have historically contributed to the development of Afreum. It is possible to acquire AFRX tokens on the Stellar DEX, and hence become a participant in Afreum DAO.
Below is a preliminary outline of the Afreum DAO Charter, Afreum Dao Council, and the key areas of governance covered by Afreum DAO.
Afreum DAO Charter
The following core rules form the basis of the DAO Charter governing the decentralized development of the Afreum ecosystem
Afreum DAO Council
The Afreum DAO Council shall be composed of a minimum of 3, and a maximum of 5, council members.
Afreum DAO Departments
The Afreum DAO scope of work excludes philanthropic and social enterprise efforts and covers the following departments:
Proposals related to ecosystem development, including new applications, APIs, and platforms to broaden the reach of Afreum beyond the scope laid out in the Afreum Whitepaper.
Proposals related to branding, marketing, visual identity, and merchandising related to the Afreum ecosystem. The Afreum logo may not be changed via an Afreum DAO proposal.
Proposals to list AFREUM (AFR) token on CEXes, DEXes, and third party listing sites, as well as proposals to partner with third parties, such as payments, remittances, and e-commerce partners.
Proposals aimed at driving adoption of Afreum apps, services, and tokens through incentives, modifying existing rewards and incentives. The proportion of any specific incentive, relative to transaction amount, may not exceed 20%.
Proposals designed to improve the tokenomics of the Afreum ecosystem, including minting stable tokens, issuing brand new tokens or burning of existing fixed supply tokens. Also, proposals to improve the Afreum ecosystem, through the application of proven economic principles.