Pontem NFT Governance DAOs Pass First Proposals
The new Pontem Pirates and Dark Ages NFT DAOs have passed their first proposals, voting to exchange 100 APT airdrops. This was executed on April 21. We’ve also received some very interesting community proposals. If you still haven’t voted in the Pontem DAO, now’s the time to get started!
- Pontem has launched two NFT DAOs on OrderDAO for Space Pirates and Dark Ages.
- OrderDAO is the first NFT governance platform on Aptos, built by Aries Markets.
- You can vote on proposals and even submit your own. 1 NFT = 1 vote. Voting is free, except for the gas fee.The proposals submitted by Pontem, if passed, will be enacted. Community proposals may be used in our products if passed, and they’re also a great way to submit feedback to the team.
- Pontem DAOs have already passed the first proposals: to exchange 100 APT airdrops. The alternative was to keep the funds for the needs of the respective community.
- The participation rate was very high: 30% for the Space Pirates and over 50% for Dark Ages! Pontem’s DAOs are far ahead of all other collections on OrderDAO by active voters.
- On April 21, Pontem implemented the proposals, airdropping a total of 100 APT in total to those who voted in each community.
- We also received many interesting community proposals, from minting a new collection for Pontem NFT holders to introducing special Discord roles.
- We invite you to participate in the DAO and vote on the active proposals here:
- Don’t have a Pontem NFT yet? Get one on Topaz: Space Pirates & Dark Ages
What is Pontem NFT DAO?
A few weeks ago, Pontem launched two DAOs: one for the Space Pirates NFT collection and the other for Dark Ages.
NFT-based governance DAOs are becoming ever more popular. All you need to participate is an NFT from that specific collection. This makes NFT DAOs much more user-friendly than regular, fungible token-based DAOs, in which users must send tokens to a special smart contract in order to vote.
In addition, most regular DAOs end up being dominated by the largest token holders (whales), who can effectively push through any decision. In NFT DAOs, the ownership of NFTs is more evenly distributed, so it’s more difficult for a group of users to collude and impose their will on the community.
Aptos is leading the way on NFT DAOs, with nine launched so far, including the two Pontem DAOs.
Both live on OrderDAO, a specialized DAO platform created by Aries Markets. Aries is a DeFi platform on Aptos that includes swaps, leverage trading, and lending. They’re one of Pontem’s long-term partners, and you can find Aries in the Pontem Wallet dApp directory.
How to vote in Pontem DAOs
If you have a Space Pirate or a Dark Ages NFT, you are automatically a DAO member. There are 1,000 NFTs in each collection, so each DAO has 1,000 members. Simply connect the wallet that contains the NFT, explore the proposals, and cast your vote. You can even submit your own proposal - see the tutorial here.
The standard voting period for each proposal is 7 days. The necessary quorum is 50 votes. Once you sign the transaction in the wallet, the NFT will move to the Used tab on OrderDAO (so you can’t vote twice for the same proposal).
Pontem NFT DAOs feature two types of proposals:
1) Proposals submitted by Pontem. If a Pontem proposal is passed, it will be executed. Note that this can take some time.
2) Proposals created by community members. At this point, Pontem does not have a procedure in place to execute such proposals. We do treat community proposals as very valuable feedback and carefully take them into account. We are also exploring potential methods for executing them in the future.
Don’t have a Pontem Space Pirate or a Dark Ages NFT yet? Then head over to Topaz and get yours to participate!
The first passed proposals in the Pirates and Dark Ages DAOs
The first-ever proposal by the Pontem team was a very interesting one. We asked the Pirates DAO what to do with a stash of 100 APT: airdrop it to Space Pirates’ sister project, Dark Ages, or keep it for the Pirates community?
The proposal was published on March 23, and voting ended on March 30. A total of 329 votes were cast, for a participation rate of 32.9% -- a great result. 273 members (83%) voted “yes” and only 56 (17%) “no”.
A mirror proposal was created for the Dark Ages DAO. There, the participation rate was even higher: 535 votes, or 53.5%. 516 (96%) voted “yes” and just 19 (4%) voted “no”. Essentially the two DAOs voted to exchange 100 APT airdrops.
The 100 APT airdrop proposals have been implemented
On April 21, Pontem executed the approved proposals. We airdropped 100 APT (in total) to all those who voted in the Pirate community (309 addresses), and 100 APT to the voters from the Dark Ages community (486 addresses). Each unique address received a little bit of APT.
Pontem’s DAOs are by far the largest on OrderDAO in terms of active voters and submitted proposals. No other collection has crossed the 300 vote mark yet. We are really proud of our community!
10+ community proposals submitted
Pirates DAO members have also published many proposals, including:
- Introduce NFT holder roles in Pontem’s Discord;
- Mint a new NFT collection for those who hold both a Pirate and a Dark Ages NFT;
- Streamline the process of sending rewards for various activities;
- Introduce APY bonuses for Dark Ages holders in Hydroponic Farms on Liquidswap.
New proposals are being added regularly, and there are always a few active ones that you can vote on. Head over to the Pirates DAO page to try it for yourself.
Pontem has many more new features in the pipeline for our NFTs, Liquidswap, and Pontem Wallet, so follow us on Telegram, Twitter, and Discord for the latest updates!
Pontem Network is a product studio building foundational dApps for Aptos. Our products include Pontem Wallet; Liquidswap, the first DEX (AMM) for Aptos; browser code editor Move Playground; the Move IntelliJ IDE plugin for developers; and the Solidity to Move translator ByteBabel -- the first implementation of the Ethereum Virtual Machine for Aptos.