BORG DAO- Ethereum Classic blockchain
The Borg DAO will help to stimulate development on Ethereum Classic, by incentivizing developers to support the ETC blockchain for their DApps and to assimilate DApps to ETC by integrating them into the Borg DAO.
How it works
Simplicity and SoliDity
The Borg DAO is built around a token based on the Ethereum Classic blockchain. Developers are rewarded for integrating their DApps into the Borg DAO payment structure. Integrated DApps will automatically send their revenue to a buy&burn contract that purchases BRG and burns (destroys) them, thus continuously decreasing the supply of BRG. This is a convenient and fully transparent solution that will have an ongoing positive effect on the market dynamics of BRG.
BRG holders will be able to keep their tokens securely in cold storage while profiting from the value appreciation that results from the continuously decreasing supply.
The goal of the Borg DAO is to jump-start a vibrant developer community around Ethereum Classic. Developers earn ETC for integrating DApps into the Borg DAO payment structure.
Investors profit from a variety of promising DApps. At least 60% of the revenue DApps produce is continuously distributed to token holders via a buy&burn contract.
The Borg DAO is built on the principles of simplicity and effectiveness. It's core structure consists of a standard Ethereum token and a buy&burn contract.
Voting will be done by token holders via simple and convenient address
New institutions, and new ways to formalize the relationships that make up these institutions, are now made possible by the digital revolution. I call these new contracts "smart", because they are far more functional than their inanimate paper-based ancestors.'
– Nick Szabo
The strong case for DApps on Ethereum Classic
A promising opportunity has arisen, as a number of DApp developers have publicly declared their intention to limit their contributions solely to the forked Ethereum blockchain. The Borg DAO will help to fill this market niche on Ethereum Classic. The reliable adherence to solid technical principles serves as a strong foundation for applications that require true decentralization and dependable immutability without third-party interference.
The Borg DAO will establish a mutually beneficial relationship between investors and developers. While developers are financially incentivized to deploy DApps on Ethereum Classic and to integrate them into the Borg DAO payment structure, investors will benefit from the revenue these DApps produce. Continuous development on Ethereum Classic, coupled with increasing usage driven by the Borg DAO will have lasting positive effects on the whole ecosystem around Ethereum Classic.
A community in unity
As a decentralized structure at the intersection of technical and social consensus, a blockchain is only as strong as its community. A unifying strategy and common goals are therefore vital for the advancement of Ethereum Classic. The Borg DAO will boost this emerging ecosystem by motivating developers to deploy promising DApps, thus increasing involvement, usage and interest in this exceptional technology.
The potential future paths for Ethereum Classic are manifold and the community is already actively evaluating the various options. In order to further support the Ethereum Classic developer community and help to ensure a sound foundation for DApps, a portion of the Borg DAO funds will be reserved to reward essential core development contributions via direct donations.
Development of the Borg DAO core structure is nearly finished and the community will be invited to assist with testing on Morden (testnet) in the next 24 hours. The Borg DAO team has already been approached by interested parties who wanted to support the project financially during it’s early stages. Encouraged by this interest we have decided to publicly sell 2% of the token supply in advance at 50% below the final crowdsale price (Details about the purchasing process will follow). These funds will be used directly to support security testing and review of the code as well as community outreach, in order to ensure a successful launch of the distribution phase and high developer interest.
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