Dec 27, 2022
Feature Preview: Landshare DAO
Introducing the Landshare DAO
Since the inception of Landshare, our goal has been to bring real estate and DeFi together. By conducting the first tokenized real estate offering and more recently the first house flip on BSC, we have come a long way in doing just that. The next step is refocusing on the core principles of DeFi — decentralized governance, democratization of assets, and trustless operations. To this end, we are thrilled to introduce the next step in the Landshare ecosystem — the Landshare DAO.
The Landshare DAO can be viewed as an expansion of our existing Governance Protocol — more powerful, more autonomous, and now central to the operation of the platform.
What is the Landshare DAO?
The Landshare DAO is designed to give LAND Token holders control over the Landshare ecosystem with the LAND Token as a means of governance. With the transition to a DAO model, token holders will take control of a token fund and have administrative control over staking vaults and other platform features.
The greatest benefit of a DAO is that any user can make a proposed change at any time. It no longer requires a sole entity to create the proposal and oversee the implementation. When a user submits a proposal, and the community votes to pass the proposal, it will automatically be executed based on a trustless smart contract. In short, the Landshare DAO puts high-level decisions into the hands of LAND holders through a decentralized governance model.
Landshare DAO Treasury
The Landshare DAO will receive 2.5% of all token emissions from vaults. Every time a staker harvests LAND, 2.5% of the tokens they mint will also be minted to the treasury. Note: this is not a staking fee, it is minted in addition to the staking reward. Additionally, the 2% staking fee on our auto-compounding vaults will be routed into this treasury fund.
The treasury is completely managed by LAND token holders, with an interface built that allows a wide range of preset options to make proposal creation simple. Advanced users can also build custom proposals not covered in the presets. To help visualize how this system works here are some examples of proposals that the DAO can submit and vote on:
Example one:
Treasury balance: 10,308 LAND Tokens
Proposed vote by community: Burn the entire treasury balance, removing the LAND token supply from circulation.
Date of proposal: 01 January — 07 January, 2023
In this example, the community submits a proposal to burn the entire treasury balance at that time, 10,308 LAND tokens. Each proposal has set date range, and all community members should vote to pass or veto the vote on or before that date. If the community passes the proposal, all the LAND tokens would be sent from the treasury to the burn address and removed from circulation. If the community vetoes the proposal, the treasury balance remains unchanged and further proposals can be created for how to spend the treasury funds.
Example two:
Treasury balance: 9,351 LAND Tokens
Proposed vote by community: Allocate LAND tokens to increase the liquidity on PancakeSwap for the LAND token.
Date of proposal: 01 January — 07 January, 2023
In this example, the community submits a proposal to allocate the LAND tokens to liquidity on PancakeSwap. The requirements are similar to the above example where the DAO has to pass the vote to execute the treasury balance to be spent. In this case, the smart contract would automatically execute a series of transactions to add liquidity to PancakeSwap. This liquidity would be owned by the DAO, and thus locked permanently unless the DAO votes to remove it.
Staking and token emissions management
In addition to managing treasury funds, the Landshare DAO will allow token holders to control staking features, including yield amounts, fee structures, and token allocations. The DAO contract will have direct control over administrative functions of staking vaults, meaning any and all staking changes will go through the DAO.
A set number of LAND will be minted each block, which can be allocated between LP staking, LAND staking, and the treasury pool. The DAO will have full control over the allocation of these tokens, as well as the ability to modify the total minting rate.
To help visualize, let’s review a few examples:
Example one: change Auto LAND fee
Proposed vote by community: Increase the fee on the LAND staking vault from 2% to 5%.
Date of proposal: 01 January — 07 January, 2023
In this example, the DAO would set a proposal to increase the fee structure on the LAND staking vaults from its current 2% to 5%. Likewise to the treasury functionality, if the vote is passed by DAO members the proposed change will automatically be updated using a trustless smart contract system. Instantly, the fee structure of the vault would change from 2% to 5%. As discussed previously, the 2% current fee structure would be allocated into the LAND treasury. If a proposal such as this were to be enacted by the DAO the new fee, in this case 5%, would be directed to the treasury.
Example two: change minting rate
Proposed vote by community: Increase minting rate by 5%
Date of proposal: 01 January — 07 January, 2023
This is another example of how the Landshare DAO will have control over our current staking vaults. By creating proposals, LAND token holders can vote on increasing, or decreasing, the amount of LAND emissions per day.
The minting rate can be adjusted by adding or removing allocation to the burn pool. The burn pool allocation can be added to existing pools to increase emissions, or allocation from existing pools can be moved to the burn pool to decrease emissions.
Upon a successful vote, the new LAND emission rate (minting rate) would be changed automatically through the existing staking vault and would not require users to migrate to a new vault to continue receiving rewards. This increase would be split between LP staking and LAND staking, which is covered in the next example.
Example three: change pool allocation
Proposed vote by community: Increase allocation to LAND Staking
Date of proposal: 01 January — 07 January, 2023
LAND will be distributed based on allocation points. For example, if LP staking has 250 points, LAND staking has an allocation of 500 points, the burn pool has an allocation of 250, and the total daily emission is 1000 (750 post burn) LAND, the distribution would be as follows:
- LP Staking: 250 LAND/day
- LAND Staking: 500 LAND/day
- Burn pool: 250 LAND/day
In this example, the DAO is voting to increase the allocation to LAND staking by removing points from the LP pool, thus increasing the LAND staking reward without changing net emissions.
Marketing bounties and contests
Along with the release of Landshare’s DAO, we will be exploring a brand-new feature that would allow the DAO to reward token holders who help spread the word about the Landshare platform!
This feature would allow the DAO to create marketing bounties and contests that reward members of the community who successfully complete the tasks. This would be an entirely community run system that gives control over the type of bounty, the task of the bounty, the LAND rewards for completing the bounty, and the budget of each campaign!
The Marketing Fund that the DAO controls is derived from the Landshare treasury. In other words, the DAO will allocate a certain amount of treasury funds into the marketing bounty pool through proposals as discussed above.
Marketing bounties can be created by the DAO, pledging a certain amount of LAND tokens as a reward for a given task. Examples of tasks include:
- Writing an educational piece of content about the Landshare platform
- Sharing prominent announcements about Landshare on Twitter
- Creating videos about the Landshare platform or features
- Any other idea that the DAO would like to propose!
Any member of the DAO can complete one of these tasks, post proof, and request a claim on the bounty. An admin can be appointed by the DAO to approve or decline the bounty requests, or the DAO can choose to vote on the winners. DAO members can also request bounties for content that does not fit into any existing bounty.
An example of a Marketing proposal:
Proposed vote by community: Allocate 1,000 LAND Tokens from the treasury into the Marketing Fund
Date of proposal: 01 January — 07 January, 2023
If the DAO approves the proposal, the Marketing Fund will now be loaded with 1,000 LAND.
Bounties vs. Contests
There are two ways the marketing fund can be used: bounties and contests. Bounties are simple tasks such as posting on Twitter, Reddit, or Coinmarketcap. Bounties are claimed on a first come first serve basis, but designated arbiters will verify that the posts are of a high quality before approving them. Here is an example of a bounty proposal:
Proposed vote by community: Reward 5 LAND to the first 20 individuals to post about Landshare on Twitter
Campaign run time: Until all rewards are claimed
After the bounty goes live, anyone in the community can make a post on Twitter and submit a screenshot to the designated arbiters. If the post is legitimate and high quality, the designated bounty amount will be sent to the individual who posted the bounty claim.
Contests, on the other hand, are designed to reward a limited number of entries of the highest quality. In this case, the community will vote for the winners after a designated submission period. Here is an example:
Proposed vote by community: Reward 100 LAND Tokens to 10 users that create the best educational content on Twitter
Campaign run time: 01 January — 07 January, 2023
Submission dates: 08 January — 10 January, 2023
Voting period: 11 January — 15 January, 2023
After the campaign is completed, all entrants would submit their content into the DAO to be eligible for their reward of 100 LAND tokens each. During the submission period, users would be required to show verification that they are the original creator to prevent stolen submissions. After all submissions are submitted on the 10th of January, the DAO can vote for the ten members who they feel deserve the reward for their content. Once the DAO selects the winner, those who won will receive their 100 LAND reward.
DAO security and protection against malicious proposals
Malicious proposals and vote manipulation are a major concern for any DAO. It is vital to find the correct balance between decentralization, autonomy, and security. Our goal with the Landshare DAO is to develop a truly decentralized and autonomous protocol, which is why we allow members to create proposals directly without the need for an intermediary.
With that in mind, we still need to ensure malicious proposals and vote manipulation are not possible, especially in the early stages of the DAO. Thus, the DAO will have administrators can veto malicious proposals by default. If the DAO members feel that this failsafe should be removed, they can vote to remove the vault administrators entirely.
To prevent abuse of the marketing bounty program, all entries will be vetted, including verifying that the wallet address claiming the bounty belongs to the same individual who created the content. The DAO can elect to remove this authority and approve bounties by vote instead.
When will the DAO go live?
The Landshare DAO is in active development and will come with a number of additional platform changes. We are continuing to develop and hash out all of the details and will announce a release timeline soon! To keep up with the latest updates, so be sure to follow us on Medium and Twitter, and join our Telegram community.
About Landshare: Invest in Tokenized Real Estate with as little as $50 directly on the blockchain through the Landshare platform. Landshare’s property offerings are carefully vetted and hand selected among thousands of potential options. View the current offerings at https://app.landshare.io/property-details
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