Dracula Protocol Transitions to a DAO

Dracula Protocol has relied on a core team and internal funding since its inception, which although allows for an agile workflow, has several limitations. The primary drawback is centralization, where the developer funds were under the control of the founders. In order to facilitate a more democratic system, Dracula Protocol has now transitioned into a Decentralized Autonomous Organization (DAO).

What does that mean for Dracula Protocol?

Dracula Protocol is now governed by its members, where any movement of funds from the DAO will have to be approved by stakeholders and submitted by 2 of the 4 multisig holders. These funds are held in a Gnosis Safe multisig wallet.

The Dracula Protocol multisig wallet can be found here:

https://gnosis-safe.io/app/#/safes/0x823Bf40F0FbCeB9832fB4f51eFc9aC19570b099a/balances

We currently have 4 different team members that control the multisig wallet:

Aaron0v (Core Developer) — 0xbDad9D5361dEfc9a806D348c02034224C56747Fa

Mzdor (Core Developer) — 0x930a152Dcc9a1855c846ebd2960EE4f525695e64

Farmer Brown (Business Development) — 0xFBD9123f3CA030632C5fC5948dfebb38B0b115f2

Dio (Founder) — 0xE991057660d01d6701E74590719A193727945D91

Members of the DAO, which are DRC token holders, can propose new members to the multisig wallet, or vote to remove members. DRC tokenholders will also be responsible for the direction of Dracula Protocol, such as with our Snapshot votes (which can be found here: https://snapshot.org/#/dracula).

With this transition, the core Dracula team will remain working on the release of V2.1. After the launch, the core team will raise a proposal on how to fund further development, although funds may not be needed due to member’s token allocation.

Developer Wallet Details:

Previously, the Dracula team relied on the developer wallet to maintain funds for future development. The following changes to the developer wallet have occurred in order to facilitate the transition into a DAO:

Developer Wallet Address: 0xa896e4bd97a733f049b23d2aceb091bce01f298d

Developer Wallet sends 300,000 DRC to the Gnosis Safe for DAO Funds: https://etherscan.io/tx/0x1ef4bf67a59ccebadf70e104629e2da63ad8d45f9810cd5e9f274a4daea4dd6b

Developer Wallet to Founding Fullstack Developer: https://etherscan.io/tx/0x246ee00b9be285b32626a7f28adca0a0424b0211c225376cc87f760f84e7c2a5 And https://etherscan.io/tx/0x6b7e71d3734018852c17ab5d4c249df8a55bbd58625b19b577435f8734f39c6e

Developer Wallet to Founding Fullstack Developer: https://etherscan.io/tx/0xab3ba6a2b4155f603b57ea68fe906510a588c79df13770c1ab39cb2a2d6e3526

Developer Wallet to Founding Contract Developer: https://etherscan.io/tx/0x8658a077cd3090e6f2f757cb86ff70dda0cc736c03854d8ed4c9125c9735807e

Developer Wallet to Founding Frontend Developer: https://etherscan.io/tx/0x051cfc423d5dae62e817970d559cc17484b685ae00fdc3f9bfb0e3b44b578e55

Developer Wallet to Aaron0v: https://etherscan.io/tx/0x6e42c35fc690137b09a2d4a34b5cddf0ceab4b5ac7b95942c9dc6b524dadc90e

Developer Wallet to Farmer Brown: https://etherscan.io/tx/0x6ef94e65175ed4790668425e35d860e911d75fad0a3676f8a6755a0ed1ccb971

Note: All DRC tokens sent to team members will be locked for 2 months.

More About Dracula Protocol:

Dracula Protocol V2 is a universal DeFi adapter that streamlines yield-farming by automatically collecting underlying reward tokens on an ongoing basis, selling the tokens for ETH, and investing the ETH into an interest-accruing strategy.

Dracula Protocol on Twitter: https://twitter.com/DraculaProtocol

Dracula Protocol on Discord: https://discord.gg/Qc6HRcKMpm