Messier was chosen as our brand name to give tribute to Charles Messier, the French astronomer who discovered M87 and cataloged it as a Nebula in a catalogue of 110 nebulae & stars that are more commonly referred to as the Messier Objects. To further give tribute to Charles, the team at Messier will publish a catalogue of 110 utility NFTs that will be exclusively auctioned to M87 token holders directly from the main site and shall be titled the "Messier Objects" collection. The artwork of the NFTs will contain an artistic interpretation depicting the astronomer "Charles Messier" and each NFT will contain one unique Nebula or Star Cluster from the 110 "Messier Objects" embedded into its imagery.
Q. Why use Morse code?
Any public announcements that have been or will be made by the official Messier team on the official announcements channel will be written in Morse code. The Messier team is using Morse so as to emphasize the importance of encryption and how it protects against the misuse of extrapolated personal data. To translate our many messages, please use our built-in translator.
Q. Is M87 deflationary and if so how does the burn work?
The protocol will take a percentage of the fees generated by the dapp and use these to buy & burn M87 tokens.
The treasury will automatically take any ETH that is in excess of 87 tokens and send it to a seperate smart contract that will then buy & burn M87; thus reducing the circulating supply & adding liquidity.
Q. What separates Virgo from other DAOs?
Some of the things which make Virgo unique are that it is able to invest in other DeFi projects, it helps diversify the portfolios of M87 token stakers and the treasury does not extract value from new M87 token investors to fund proposals. The treasury is funded by the fees that are collected by the various products & services that have been created by Messier. This allows us to feed the treasury in a way that is sustainable as we don't rely on the centralization of our token (ponzinomics) to generate value for our token holders. All products & services being created by Messier will help further decentralization and create solutions that help improve the DeFi space.
A typical DAO utilizes a middleman to take funds from the treasury and delegate the funds in the manner in which it was voted upon. The issue with this is that it would subject the stakers to the possibility of a bad actor handling these funds.
Virgo will simply operate in a closed loop in which the treasury is immutable, funds are only handled by immutable smart contracts and stakers alone are able to access their rewards through an immutable smart contract to which they own the only keys. All funds are always secure and there is no use of middlemen; this is what truly sets us apart from other DAOs.
Q. What makes Virgo’s voting system superior to other DAOs?
The Pōwehi cannot vote on proposals, the Halo only has one vote per wallet (and/or NFT) and stakers are incentivized to consolidate all staked tokens into one wallet. Stakers are incentivized to consolidate all tokens into a singular stake, because the amount of rewards that are distributed to an individual staker are based on the total share of the pool respective to where it ranks on a linear bonding curve compared to other stakers. A staker could choose to lose out on profits in order to gain a few extra votes, but is less likely to do so as it financially penalizes them.
Q. How advantageous will owning one of the Messier Objects be?
The exclusive reward pool that the Messier Objects belong to only has 110 NFT holders with which rewards are shared. When rewards are distributed at a rate of 13% from newly purchased tokens, 12.13% go to the regular staking pool and 0.87% go to the NFT holders.
To put this in layman's terms, this means that NFT holders will receive their fair share of the 93.31% of the distributed rewards from the regular pool and an additional 6.69% of the distributed rewards in an exclusive pool of only 110 NFT holders.