Olympus DAO, with its OHM token, created a prototype for a number of "forks", but without real utility, are all of them useful?
Jade Protocol leverages Olympus DAO principles for its decentralized VC fund
Inspired by the mainstream Olympus-style framework, Jade Protocol changes the narrative in decentralized fundraising. Its team develops a first-ever decentralized VC fund with the motto "For the people, by the people."
****ANNOUNCEMENT****$JADE's most pivotal DAO vote has begun:— Jade Protocol (@JadeProtocol) December 12, 2021
The APY battle. https://t.co/6RIcZzOwLr
Giving away $15,000 $BUSD to 5 people that read the entire article and have the best answers on the quiz at the end.
Let's keep making history.
This intention and vision is different from those of the vast majority of Olympus DAO copycats. Its open-source design is often used to create and prompt Ethereum-based and BSC-based "Ponzi schemes." Even the masterminds of the protocol hint at its Ponzi-like character.
Jade Protocol, with its core native utility and governance token JADE, is projected to change the game and provide a sustainable technical basis for decentralized fundraising. It means that the Jade Protocol treasury (which recently surpassed $100 million in aggregated value) will fuel promising early stage teams in the Web3 sphere.
All crucial investing solutions will be made following voting by JADE holders: the newly-launched VC fund will be decentralized by design so that it will harness "crowd wisdom" in its investing strategy.
Jade Protocol to go multi-chain soon
Step-by-step, the protocol will evolve into a self-sustained mechanism designed to unite many crypto enthusiasts under its umbrella.
Hand-in-hand with the progress of Jade Protocol, the value of its native token JADE will increase for both its holders and the entire Web3 community.
At its launch, Jade Protocol was an Ethereum-based DAO. However, due to perennial Ethereum congestion and rocketing fees, its team decided to move all of its operations to Binance Smart Chain. This fast and cheap smart contracts environment is 100% EVM-compatible, so the process of migration was frictionless.
As the next step in its expansion, the protocol also launches on Avalanche (AVAX), a high-performance blockchain for resource-efficient transactions.
The Jade Protocol team includes former Google and Amazon veterans, a Harvard professor and a Y Combinator alum. This combination of expertise and influence allows it to cement itself as one of the most promising and eccentric DAO experiments.
Smart Coin and JADE, the first products by this DAO, were launched in 60 days.
Last but not least, to nurture its passionate community, Jade Protocol launched a series of BUSD airdrops. To be eligible for the airdrops, crypto enthusiasts should hold and stake JADE tokens.