degendao - faq

1. What is DegenDAO ($DDAO)?: DegenDAO is a decentralized platform that bridges traditional trading floors and decentralized finance (DeFi). It allows token holders to benefit from professional trading profits while participating in decentralized governance.
2. What is the main goal of DegenDAO?: DegenDAO aims to create a decentralized trading floor where token holders can earn stable base rewards and additional profits by supporting specific traders' strategies.
3. What is the total supply of $DDAO tokens?: The total supply of $DDAO tokens is 21 million.
4. How is DegenDAO different from other crypto projects?: DegenDAO combines professional trading expertise with decentralized governance, allowing holders to stake tokens for a base APR and vote on traders to earn performance based rewards. Tokenomics

5. What percentage of $DDAO is locked by the team?: The team has locked 30% of the total supply and is actively acquiring more tokens to lock.
6. How does the creator bid treasury work?: The treasury funds a team of professional traders, and the profits generated are distributed among token holders, traders, the team, and reinvested back into the treasury.

7. What are trader profiles?: Trader profiles outline each trader's strategy, risk level, and expected returns, helping token holders make informed voting decisions.
8. How does voting on traders work?: Token holders can vote for specific traders based on their profiles. The traders' profits (PnL) are distributed proportionally to the holders who supported them.
9. How are traders incentivized?: Traders receive a small percentage of the profits they generate and gain access to greater capital allocations for consistent success, similar to traditional trading floors. Staking and Rewards

11. What rewards can I earn as a $DDAO token holder? You can earn:: A base APR for staking your tokens. Additional performance-based rewards by voting for and supporting specific traders.
12. How are the monthly profits (PnL) distributed?: A small percentage goes to the team. A small percentage is paid to the trader. A large percentage is distributed to token holders who voted for the trader. A large percentage is reinvested into the treasury for long-term growth.

13. How does DegenDAO ensure transparency?: Regular updates on treasury performance, trader PnL, and governance decisions will be provided to all token holders.
14. Are the smart contracts secure?: Yes, all staking, voting, and PnL distribution processes are governed by audited smart contracts.
15. How does DegenDAO manage risk?: The treasury funds are diversified across various trading strategies and managed by multiple traders to mitigate risks and protect capital.

16. What is the current phase of DegenDAO?: DegenDAO is in Phase 1: Initial Development, which includes launching the $DDAO token, securing the supply, and building the creator bid treasury.
17. What features will be added in the future?: Planned features include: A staking and voting platform. Trader competitions. Enhanced AI for automated buy/sell and PnL tracking. Additional governance features. Participation and Involvement

18. How can I participate in DegenDAO?: You can: Purchase and stake $DDAO tokens. Vote on traders to earn performance-based rewards. Participate in governance decisions.
19. Do I need trading knowledge to participate?: No, DegenDAO simplifies participation by allowing token holders to choose traders based on detailed profiles, without requiring deep trading knowledge.

20. Where can I buy $DDAO tokens?: The token will be available on decentralized exchanges. Specific listings will be announced as the project develops.
21. What happens if a trader underperforms?: Underperforming traders will receive reduced capital allocations, and token holders can choose not to vote for them in future cycles.
22. Is this project only for crypto enthusiasts?: No, DegenDAO is designed to appeal to both crypto enthusiasts and individuals seeking exposure to professional trading without active involvement.
23. Is $DDAO a security?: $DDAO is not classified as a security and operates as a governance token. However, always consult legal and financial advice before investing.
24. What happens if a trader underperforms?: A stealth mechanism will be implemented to prevent mass copy trading and protect treasury funds.

Frequently Asked Questions (faq)