What Is Musk Knight DAO?
The Musk Knight DAO aims to dismantle centralised control, follow Elon Musk's technological development and provide funding and start-up teams for riders pursuing the same goals.
The 100 Knight Pledges who hold NFT are gentlemen. These people can submit proposals to the DAO, but cannot influence the vote. Any KNT pledger other than a gentleman can vote. Voting is based on token shares.
These proposals should be made for investment requests that meet all or most of the following criteria for the agreement.
- Against centralization
- An Elon Musk related project
- Furthers decentralization
- Promotes WEB3 development
The DAO can then vote on whether they think the investment should be awarded. There is also a burning mechanism that can be used as an incentive. For every 50 ETH of KNT raised, 5Eth are burned and 45Eth go into investment agreements or causes. The investment tokens are reallocated according to the proposal and the entire allocation is exchanged for KNT tokens at an agreed payout rate . 50% of the knight is immediately sent to the destruction wallet, the other 45% is distributed to the warrior (KNT holder) 5% to the gentleman (NFT holder)