AladdinDAO breaks down information and access barriers in DeFi

AladdinDAO is a group of “DeFi experts” that identifies promising projects while benefiting from their liquidity mining programs. The idea is that collective DeFi thinking is superior to individual thinking. Members that positively contribute are rewarded while those that don’t are eventually removed from membership. The long term vision is to build a decentralized investment engine to harness the wisdom of the crypto crowd.

The concept of DeFi let alone cryptocurrencies is still new to many people. Information is fragmented and noisy across various outlets by speculators and influencers. As a result, the community constantly gets hacked and falls victim to rugpulls. However, those that are more involved in this space have asymmetric information. In order to reduce information asymmetry and optimize asset allocation for the DeFi space, AladdinDAO brings together the great minds of DeFi through a collective value discovery process. The result enables community members to participate in the returns of the liquidity mining program.

AladdingDAO was supported by DeFi veterans (initial backers) who serve as “Talent Hunters” for the DAO. They are each incentivized to recommend and attract up to 5 members (80% of the DAO). The rest (20%) comes from the community through a decentralized governance process. Talent Hunters are rewarded for inviting candidates and actual members of the DAO are considered “Boule” members. Boule members can climb up to be “Talent Hunters” or climb down ranks and eventually be forced out. Boule candidates are appointed if they are in the top 30 and votes >10% of circulating token supply. In addition to Boule members there are Boule Plus members which anyone can become after full-filling a few requirements. They may participate in voting and earn rewards. Strategy Developers help conduct technical integrations of liquidity mining programs and receive tokens and performance fees as an incentive. Capacity of Boule members changes with TVL (Total Value Locked) overtime. There are triggers built in to adjust the procedure and the number of Boule members. As a result of new openings, top members (ranked by cumulative contribution over 6 months) will be promoted to Talent Hunters. On the flipside, if it needs to be reduced, bottom members will be demoted and possibly removed until a minimum of 30 Boule members exists.

Boule members are rewarded for their contribution and voting in the DAO. Rewards are based on “Yes” votes on outperforming pools and “No” votes on underperforming pools. Rewards are adjusted by a time decay factor (0.8) to ensure research is done for new quality assets.

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James Chung

James Chung

Founder and Contributor @DigitalBankr. I write exclusive research, analysis and market news on all things blockchain, including crypto-assets.

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