• WavesDAO is a commercial DAO on the Power Protocol platform intended to support the development of Waves blockchain-based projects.
  • Market maker DWF Labs has committed 500K WAVES to the WavesDAO project.
  • WavesDAO intends to divert 1/3 of Waves miner rewards to Waves DAO during the launch period.

WAVES price reached a daily high of $2.82 today after a 91.23% price surge in 24 hours. The surge took most cryptocurrency traders by surprise, but the rally started after DWF labs, a global digital asset market maker and Web3 investment firm, showed its commitment to the WavesDAO project.

On June 22nd, DWF Labs announced its support for the launch of WavesDAO by committing 500K WAVES to Waves Staking and voting in support of the WavesDAO project. His DWF Labs participation in the DAO initiative will go a long way in enabling developers to build on the Waves blockchain.

What is WavesDAO?

WavesDAO is a for-profit decentralized organization (DAO) on the Power Protocol platform intended to support the development of Waves blockchain-based projects and other initiatives.

Basically, governors are expected to have at least 1 PWR to participate in the DAO and have staked 100 PWRs to make the proposal successful.

At this time, WavesDAO intends to divert one-third of Waves miner rewards to Waves DAO. However, the proposal must be approved by Waves miners and stakers through on-chain voting.

WavesDAO acts as a pioneering decentralized autonomous organization on the Power Protocol platform. It will be a community investment vehicle as it will be managed by PWR Token Stakers.

By Jules

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