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WHY VERSAFY?

A typical DAO has no fail-safes, has locked-in voting processes, is not web2 friendly, has zero emergency actions and can take months to develop.

VERSAFY FEATURES

Supports Multiple Voting Types for Proposals in the Same Organization

Advanced and Enterprise organizations include the ability for each proposal creator to select the type of voting for their proposal. This allows for simple votes to be used for simple decisions while more complex decisions can require voting that requires a more complex voting type. As an example, the decision to partner with another DAO could require a quorum vote while a decision to hire an assistant community manager could be a simple liquid democracy vote. If the organization is a standard organization then all proposals have the same type of vote and that is decided when the DAO is created.

Emergency Actions

The recent LUNA crash lighted the need for DAOs to be able to react to real-time events when catastrophic outside forces require action immediately. Within 12 several large DAOs saw their investments in LUNA deflate to the point of nothing. Emergency Actions allow a particular committee of members to take a NFT special vote with specific parameters to take emergency action, such as selling some or all of their remaining LUNA before it is completely tanked.

Fail-Safes

Each DAO hack that has drained the treasury of DAOs has a root cause in the noble idea that ‘code is law’. While a noble and well-intentioned idea, code is created by fallible developers and therefore always has the potential to have a ‘hack’ around the code. One of the fail-safes put in place is to ensure that DAO treasuries in aVersfay-created DAOs will not be drained of all funds.

Supporting Web2 Adoption with Web3 Ease of Use

Web2 refers to the version of the internet most of us know today. An internet dominated by companies that provide services in exchange for your personal data. Web3 allows for privacy and transparency. The web3 wallet has no identifying properties, the user can remain anonymous. Versafy is helping support web3 adoption by following the web3 tenets but also providing ease of use that is lacking in a large number of web3 dApps.

Powered by Avalanche - Eco-Friendly

According to the Crypto Carbon Ratings Institute,” Avalanche uses just .0005% of the energy used by Bitcoin…” This means lower gas fees, which each user must pay to access the network. This makes Avalanche’s blockchain and Versafy more financially accessible than other blockchains.

Voting Platform for Organizations Outside of Cryptocurrencies

Versafy is built using blockchain technology but its use is not limited to cryptocurrencies. Any organization that is looking for a transparent, immutable voting platform can use Versafy. Corporate board votes, proxy votes, etc., any organization can use this platform and be assured that every vote is counted every time. Results are provided as part of the platform and are public unless the option for private voting where only members can see the results are chosen.