Centralized organizations have been continuously losing people’s trust due to the tight control a single person or a group contains over certain aspects, whether they are financial, productional, or even gaming. The emergence of decentralized networks has provided an alternative, with the trend only intensifying in recent years.
However, such systems also have flaws, and this is where vEmpire DDAO is making a move. The democratic, decentralized autonomous organization promises a fair system of DAO, trying to combine the best from the two worlds and ultimately bring power back to the community through its tokenomics.
What is vEmpire DDAO?
As explained in the whitepaper, vEmpire aims to provide a fairer system as a democratic, decentralized autonomous organization. It has placed the community at the center of its endeavors, including rewarding participants for their loyalty in equal measure to monetary contributions.
The focus on communities doesn’t end there, as the team’s ultimate goal is to highlight centralization and where they see it creeping into decentralized projects. Thus, it wants to bring power back to the people in situations where those projects’ founders will not relinquish control.
This aims to outline that stakeholders share equal value to token owners, which could be neglected on some occasions, especially since most decentralized projects are highly unregulated. It leads to unchallenged monopolies in cases where a small percentage of token holders contain most of the coins and the voting rights.
Consequently, vEmpire’s first target is to enter the metaverse and protocols within it. Later, the project plans to establish its own Metaverse.
Focus on Helping the Gaming Community
The whitepaper further outlined the gaming community as having the potential to be exploited as they have in the real world, where creatives and independent developers could fall into the hands of gaming giants striving for full control. For instance, corporate participants in these metaverses have obtained enough power that they can lease property and keep up to 80% of the profits. At the same time, they provide users with a fractional percentage.
While independent developers and creators have been previously cast out from these corporations, the vEmpire team has pledged to operate in the opposite manner in the virtual world of gaming. In order to do so, it has developed a token with multiple different functions, which should benefit users and participants in a distinctive manner.
The DDAO will distribute value among platform participants generated by several pools and liquid provider services to stakeholders.
They will be able to earn vEmpire’s first native token (VEMP) for providing collateral and through a staking mechanism. Those two options will enable them to receive a share of the fee revenues generated by supported decentralized finance services, NFTs, pools, and other contributions.
Users can stake the VEMP token into xVEMP to provide governance rights over all operational concerns of the provisions related to DeFi services. After that, the generated income will be given to holders of the xVEMP token.
This coin has governance functions, which will provide users with control of the Empire’s invasion, conquest, and expansion. The protocol has another level of staking – xsVEMP – which is aimed at soldiers to train and fight in card battles boosted by vEmpire’s NFTs. It’s allocated into pools where it will burn a percentage and reward them to the battle winners.
After the launch of vEmpire’s V2 platform, users will be able to stake Metaverse tokens into the platform, which will be used to purchase land and estates to monetize and rebuild the aesthetics of the Empire. The profit distribution will be to the DDAO, and the first parcels they hope to create are as follows:
- An Embassy & NFT art gallery for purchase of trading cards & vEmpire wearables.
- A Colosseum, gladiator gambling, and NFTs.
- Chariot Racing Track, gambling, and Charioteer NFTs.
- Army Barracks & Bedsit, MANA charged per “night’s stay,” VEMP drop into a wallet, effectively a foreign exchange service until Decentraland accepts VEMP.