With so many new cryptocurrencies continuously joining the market, it can be difficult to decide which new projects are worth attention. Research is a key part of the majority of successful investment strategies.
When looking at the new crypto projects, one of the attributes that might be worth paying attention to is how they will be governed in the future. While cryptocurrencies tend to focus on decentralisation and utilisation of their advantages, not every newcomer coin is managed by a Decentralised Autonomous Organisation (DAO).
Decentralisation gives shared responsibility and power to the communities by avoiding centralised authority like in traditional financial services. Some of the new crypto projects emphasise that the development of their platforms will be completely in the hands of their community members. An example of this is the soon-to-be-launched Firepin Token (FRPN).
How Does the DAO Culture Favour the Crypto Industry?
A fairly obvious advantage of DAOs is the focus on delivering decentralised financial services to the crypto community. Represented by rules encoded in smart contracts, DAOs function unaffected by a centralised authority. Every member of the community has a say in how they operate, democratising organisational decision-making.
Transparency is another important part of every DAO governance because it supports a project’s upkeep. By utilising automated smart contracts, DAOs reduce the costs that would normally be incurred from third-party interferences.
Community involvement and accessibility are other vital benefits that support both the projects and the communities. Cryptocurrencies directly benefit from enabling people from any part of the world to join and work together, thus fostering diversity and growth.
Members of the crypto community perform a variety of roles based on their expertise. Contributing to open-source code, producing apps leveraging core blockchain technology, and assisting in fundraising are all vital to the cryptocurrency’s strength.
Meanwhile, the community members benefit from the unique privileges to contribute to and shape the future of the crypto industry. Contributors can earn various financial rewards in return for their participation.
Unsurprisingly, one of the most popular online crypto communities is the fast-growing Ethereum community. People from all walks of life may join and get involved. Whether you hold the skills of a developer, an artist, an accountant, or simply want to organise meetups, you are more than welcome to become a part of it.
FIREPIN Token’s (FRPN) DAO in Charge of Its Future
A new community-led Firepin Token (FRPN) project focuses on the Metaverse and NFT integration. The platform aims to revolutionise the online gaming industry via its play-to-earn (P2E) and NFT games development.
With only days left until its public launch, Firepin Token has achieved impressive presale results and gained immense attention in the crypto world. Its competitive advantage is believed to come from the focus on community-centred growth.
Firepin’s value proposition includes a transparent and decentralised DAO nature, which will help its community to decide the future of the platform. Firepin DAO members will benefit from full decision-making authority with further social and financial benefits to follow in line with the network’s expansion.
There is limited time left to become an early investor as Firepin Token’s presale is coming to an end. If you are interested in the project and want to learn more about it, use the links below to find more information.
Firepin Token (FRPN)
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