Decentralized Autonomous Organization on Ethereum
Virgo is a trustless decentralized autonomous organization (DAO) governed by M87 stakers that runs solely on immutable smart contracts. Smart contracts facilitate all internal functions relating to treasury funds being spent, tokens being purchased, and rewards being distributed. The design of Virgo ensures it is completely trustless, since there are no middlemen who ever have access to any of its funds at any point of any process.
- Messier's applications will launch on a multitude of networks, where they will collect service fees from users that will be sent to the treasury of the Virgo DAO on Ethereum.
- M87 is the community token that is able to be traded in the open market, staked in Virgo to earn passive income rewards, or used to bid on the Messier Objects NFTs (which will earn even higher passive income rewards from Virgo than staking M87 tokens alone).
- The number of tokens an M87 holder stakes in Virgo will determine whether they can create proposals (Pōwehi) or vote on proposals (Halo) that pertain to spending treasury funds on alt tokens, which are then distributed to stakers.
- Since Virgo's treasury doesn't rely on M87 token purchases for its funding, the community can objectively consider other projects to invest in.
- There are incredible buy & burn mechanics built into Virgo that will ensure there is massive buy pressure on the M87 token, while also substantially reducing its circulating supply.