DAO Maker, the popular SaaS solutions platform for upcoming blockchain and crypto startups, is out to address issues brought to its notice by users and its general community members. At the forefront of these issues is the need for better transparency on the SaaS platform.
In line with this, DAO Maker has launched a transparency campaign aimed at improving community members’ chances of winning in its verifiable SHO lottery system. The importance of having a strong community behind a project cannot be over-emphasized. In cognizance of this, DAO Maker is out to address the issue of better transparency put forward by its users, token holders, and community members. First, it launched its Venture Yield solution focused on improving fairness in the allocation distribution process. Also, the introduction of a verifiable hash system for lottery participants is expected to go live this week.
Modus Operandi of the Priority System
Participation in staking DAO tokens for the SHO lottery system has been quite low. This is majorly due to the fact that the system verifiability was unreliable. The SHO lottery system relied only on luck, and while luck in itself isn’t bad, it is not always fair. To rectify this, DAO Maker has revealed plans to introduce a Priority System for its SHO lottery system. The Priority System will also help improve the user experience (UX) for SHO participants.
The Priority System will in no way tamper with the randomness of selecting winners. Instead, it will improve the chances of winning for users who have never been selected. Users will also receive a variable dubbed priority. For every time a user registers for any SHO and has the opportunity to be picked but ends up losing, his\her priority factor is increased by one. Therefore, making them more likely to be picked in the next round.
$DAO SHO Transparency Campaign!
Communities are at the heart of all crypto projects. Therefore the DAO Team decided to start a full transparency campaign and address the pending issues of our users, community, and token holders.
— DAO Maker (@TheDaoMaker) September 3, 2021
For example, If community member A has never registered for a SHO, community member A has a priority factor of one. Registering and then losing a SHO, his\her priority will be increased to two. If community member A furthermore registers and still loses, his\her priority will be increased to three. This, in essence, means that community member A is three times more likely to win than a participant with a priority factor of one and 1.5 times more likely to win than a participant with a priority factor of two. In simple terms, the higher the priority factor, the higher a registered user’s chances of winning. In the event of eventually winning a SHO lottery, the winner’s priority factor is automatically reset to one.
Fairness and Equality on DAOPad
Launching the DAO Priority System is a step in the right direction of improving fairness and equality on the DAOPad. Simply put, thanks to the Priority System, winning tickets on DAO Maker’s SHO is more likely to be evenly distributed. Therefore, increasing users’ interest in participating in the lottery system.
Find out 10 major reasons to buy DAO Maker DAO tokens here.
At the time of publication, DAO was trading at $2.48, with a market cap of $123,143,191 and a 24-hour trading volume of $4,697,542. The token price is also down by 5.8% in the last 24 hours.
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