There's Now a DAO for Deciding Which Blockchains to Stake On

Published on by Coindesk | Published on

That's the idea behind StakerDAO, a new decentralized autonomous organization for investing in existing proof-of-stake blockchains.

Introduced Wednesday by Tezos Capital CEO Jonas Lamis, the new DAO will allow participants to vote on where to best earn rewards as validators in a given network.

"StakerDAO is a new platform for governing financial assets," said Lamis.

StakerDAO will focus on existing PoS blockchains such as Cosmos, Tezos, Terra and others, he added.

While MakerDAO is built on ethereum, StakerDAO will live on the Tezos blockchain.

Where MakerDAO has its MKR governance token, StakerDAO will have STKR. STKR is the vehicle through which investors can expect to make money, Lamis said.

STKR tokens will be offered as a security, Lamis stressed, wholly-compliant with U.S. securities law.

While full regulatory compliance with U.S. securities laws normally means restricting access to tokens to a limited group of accredited investors, Lamis stopped short of specifying what exact qualifications he imagines will be required to own STKR. "I don't want to get ahead of myself on how that's going to roll out just yet. It's not something the lawyers want to talk about yet [either]," said Lamis.

Lamis envisions launching StakerDAO and its token-holder voting system by the end of 2019.

While these applications could include new stablecoins, lending protocols and derivatives platforms, that's not all the StakerDAO platform will be capable of doing, Lamis said.

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