The First
Non-Profit DAO
in the World
WoodCoin Foundation and SeedCoin Network are launching the first non-profit decentralized autonomous organization in the world — ECO DAO.
WoodCoin Foundation and SeedCoin Network are launching the first non-profit decentralized autonomous organization in the world — ECO DAO.
The ECO DAO has a horizontal management system, so any Virtu Token holder may participate in voting and governance, even for organizational development and key decision-making. All the terms are set out in the ECO DAO smart contract and available to check any time, including the ability to vote on proposed smart contract changes.
The ECO DAO is managed by Virtu Token holders. The more tokens you have, the more stronger your vote is. This is why we decided to donate a significant part of Virtu Tokens to nonprofit charities. That means that most of Virtu Tokens are held by organizations that care for the environment and the planet future.
The Virtu Token is based on the SeedCoin Network, which runs on the ERC-20 protocol. The SeedCoin Network does not use proof-of-work, since POW mining demands more and more powerful hardware and more and more energy, thus negatively impacting the environment. Moreover, every holder of Virtu Tokens holder can participate in ECO DAO decisions as well as the development of a "green" blockchain: SeedCoin Network.
The ECO DAO is a nonprofit organization as well; if the organization generates income, the income would be distributed to nonprofit charities via voting. However, we felt we could do more, and that is why we launched Virtu Token staking. With Virtu Token staking, a nonprofit or charity that receives Virtu Tokens as a donation can them for staking and receive complimentary SeedCoins (SEED), our green cryptocurrency.
