FAQ

Mission

Blue Lotus DAO will be one of the largest DAO (Decentralized Autonomous Organization) Our vision is open finance, a decentralized tokenized economy, and liquidity solutions towards new projects.

Blue Lotus Dao will be a protocol governed by holders of BLUEG tokens. We welcome all people and communities to join us and contribute.

How a DAO works?

Any DAO is based on three main things:

• Smart contracts involved.

• The set of rules that all members know.

• A token that can be spent within the system to obtain rewards.

What is a Governance?

Governance is the process of interaction and decision-making among stakeholders of a given system or organization. It is also the way in which rules, norms and actions are structured, sustained, regulated and defended.

How can BLUEG holders submit a proposal?

Any BLUEG holder can be a supporter node and thus make a proposal to modify or introduce new features and get the approval of other members of the community. There are different layers that development proposals must scale before they can be implemented.

I have BLUEG tokens, why I can't vote?

To be able to participate in the vote, you must first delegate your tokens to a wallet and from there set up a governance node, this wallet can be yours, that of a representative, a DeFi expert or an association.

How can I get a supporter node?

The supporter node needs a minimum of TBD amount of BLUEG tokens and thus be able to be part of the ecosystem governance.

What happens if some type of node behaves dishonestly?

We understand by dishonest manner, to any act that leads to deliberately harm the system. These nodes will be subject to an emergency governance proposal, detailing the malicious acts and proving their guilt. In said proposal, it will be defined if said node continues with such responsibility or it is removed.

Is it possible to update a proposal?

In the course of an active proposal it is not possible. To update a proposal, you must first conclude the proposal for which you intend to update, once finished, you can mention the proposal again with its respective updates.

What is the token unlock period?

Once you lock the tokens, to unlock them you just have to choose the unlock option. This will enable a 28 day unlock period until your tokens are released. In this way we ensure that the proposals are made with the number of nodes that there really are in the governance.

Will there be free token distributions?

yes initially there will be free distribution via airdrop for users that interacted with Gchain.

Any plans to make a multiple blockchain?

not at the moment