Frequently Asked Questions: GreenCardinal DAO
What is a DAO?
DAO stands for Decentralized Autonomous Organization. It is decentralized because it has no central leader, so all decisions are made by its community of token holders who vote on proposals. Community members’ voting power is in proportion to the number of tokens they hold.
A DAO is also autonomous as it is designed to run on its own with its actions driven by smart contracts.
Smart contracts are self-executing contracts built on blockchain technology that have the power to complete transactions without middlemen.
How does a DAO work?
A DAO operates through blockchain technology, smart contracts, and cryptocurrency, allowing a group of people to reach a common goal.
Someone can become a member of a DAO by buying its crypto tokens. These tokens provide members the right to vote on proposals from the community, with their voting power in proportion to their token holdings.
In the case of GreenCardinal, those who buy GRCRD tokens will have the ability to vote on which environmental organizations operating in Connecticut will receive grants from the organization’s treasury.
What is the ticker symbol for GCD’s native token?
The ticker symbol for GreenCardinal DAO’s native token is GRCRD.
What kinds of organizations could receive GCD grants?
Among the organizations that could receive GreenCardinal DAO grants are ones focused on environmental and ecological projects in Greenwich and throughout Connecticut.
How will the recipients of GreenCardinal DAO’s grant recipients be chosen?
Any member of GreenCardinal DAO’s community can propose environmental organizations within Greenwich and Connecticut
How much money do you hope/expect to raise?
We hope to raise as much as possible to contribute to environmental projects in Greenwich and Connecticut. We hope to raise around $1,000 by the time our first grant package is released.
Will the grants be in crypto or dollars?
The environmental organizations that receive grants from GreenCardinal DAO will have the option of receiving them in crypto or dollars.
How would someone join GreenCardinal DAO?
Anyone can join GreenCardinal DAO simply by purchasing tokens. The price of each token will be $5 so anyone can afford to join.
What are you doing to attract members to your community?
To attract members to the community we are looking to outreach using social media, direct involvement with the organizations, and a focus on inspiring the use of crypto in the local area. One of the main goals of this project is to show how blockchain technology can be used for good, even in your own backyard (literally!).
How were you able to start a DAO?
I was able to start the DAO with the help of Upstream Collectives, a DAO-in-a-box company that allows individuals to start a collective without having to know how to code. Also, GCD is an LLC (Limited Liability Company) established in Wyoming, a state with blockchain-friendly regulations.
Where did the idea for GreenCardinal DAO come from?
I first became interested in environmental issues as a junior high school student when I learned about the worldwide honeybee colony collapse and the human factors contributing to it and did a school project about it. More recently, I developed an interest in crypto and blockchain technology.
When I learned about DAOs and how they can help to create online communities focused on a particular mission it occurred to me that the DAO could help to bring attention to the honeybee colony collapse and a way that we could help to address it at a local level.
What goes into starting a DAO?
The most important part of starting a DAO is the people themselves. FInding a determined, optimistic, and supportive group of individuals who can come together in order to boost the local area is something special.
What is blockchain?
A blockchain is essentially a ledger that records activity or transactions using cryptocurrency. The blockchain is upheld using numerous computers, allowing for accountability and stability.
Where does crypto fit into GreenCardinal DAO?
Crypto will be used to purchase tokens (GRCRD) and will possibly be used for some of the grants.
Why did you name it GreenCardinal DAO?
Very simple. The Green comes from our environmental focus. The Cardinal comes from Greenwich High School’s mascot: the Cardinal.
What is a DAO?
DAO stands for Decentralized Autonomous Organization. It is decentralized because it has no central leader, so all decisions are made by its community of token holders who vote on proposals. Community members’ voting power is in proportion to the number of tokens they hold.
A DAO is also autonomous as it is designed to run on its own with its actions driven by smart contracts.
Smart contracts are self-executing contracts built on blockchain technology that have the power to complete transactions without middlemen.
How does a DAO work?
A DAO operates through blockchain technology, smart contracts, and cryptocurrency, allowing a group of people to reach a common goal.
Someone can become a member of a DAO by buying its crypto tokens. These tokens provide members the right to vote on proposals from the community, with their voting power in proportion to their token holdings.
In the case of GreenCardinal, those who buy GRCRD tokens will have the ability to vote on which environmental organizations operating in Connecticut will receive grants from the organization’s treasury.
What is the ticker symbol for GCD’s native token?
The ticker symbol for GreenCardinal DAO’s native token is GRCRD.
What kinds of organizations could receive GCD grants?
Among the organizations that could receive GreenCardinal DAO grants are ones focused on environmental and ecological projects in Greenwich and throughout Connecticut.
How will the recipients of GreenCardinal DAO’s grant recipients be chosen?
Any member of GreenCardinal DAO’s community can propose environmental organizations within Greenwich and Connecticut
How much money do you hope/expect to raise?
We hope to raise as much as possible to contribute to environmental projects in Greenwich and Connecticut. We hope to raise around $1,000 by the time our first grant package is released.
Will the grants be in crypto or dollars?
The environmental organizations that receive grants from GreenCardinal DAO will have the option of receiving them in crypto or dollars.
How would someone join GreenCardinal DAO?
Anyone can join GreenCardinal DAO simply by purchasing tokens. The price of each token will be $5 so anyone can afford to join.
What are you doing to attract members to your community?
To attract members to the community we are looking to outreach using social media, direct involvement with the organizations, and a focus on inspiring the use of crypto in the local area. One of the main goals of this project is to show how blockchain technology can be used for good, even in your own backyard (literally!).
How were you able to start a DAO?
I was able to start the DAO with the help of Upstream Collectives, a DAO-in-a-box company that allows individuals to start a collective without having to know how to code. Also, GCD is an LLC (Limited Liability Company) established in Wyoming, a state with blockchain-friendly regulations.
Where did the idea for GreenCardinal DAO come from?
I first became interested in environmental issues as a junior high school student when I learned about the worldwide honeybee colony collapse and the human factors contributing to it and did a school project about it. More recently, I developed an interest in crypto and blockchain technology.
When I learned about DAOs and how they can help to create online communities focused on a particular mission it occurred to me that the DAO could help to bring attention to the honeybee colony collapse and a way that we could help to address it at a local level.
What goes into starting a DAO?
The most important part of starting a DAO is the people themselves. FInding a determined, optimistic, and supportive group of individuals who can come together in order to boost the local area is something special.
What is blockchain?
A blockchain is essentially a ledger that records activity or transactions using cryptocurrency. The blockchain is upheld using numerous computers, allowing for accountability and stability.
Where does crypto fit into GreenCardinal DAO?
Crypto will be used to purchase tokens (GRCRD) and will possibly be used for some of the grants.
Why did you name it GreenCardinal DAO?
Very simple. The Green comes from our environmental focus. The Cardinal comes from Greenwich High School’s mascot: the Cardinal.
