Vote to Earn
Last updated
Last updated
Project Merlin is an innovative platform aiming to transform DAO and crowdfunding ecosystems. Based on blockchain technology and NFTs, this platform offers a democratic participation and reward system through the Vote To Earn (V2E) mechanism. This document details the operation of Project Merlin's V2E mechanism, participants' roles, earning rates, and the overall benefits obtained from the system.
Through the V2E feature within Project Merlin, community members not only participate in the voting process but also have the opportunity to earn rewards for their engagement. Community members and Senator members can potentially gain rewards based on their choices in the Community Assessment and Senator Assessment processes, respectively.
Project Merlin's V2E mechanism rewards users who contribute by voting on projects within the platform. Users actively participate in project selection and financing while earning Merlin Tokens. The system encourages democratic participation and rewarded interaction by defining user-specific roles through NFTs.
The platform assigns customised roles to users, including community members, editors, and senators. These roles are defined by NFTs and reward participants according to their duties and interactions on the platform as follows:
Winning Project Owner: 75% of the allocated fund.
Senators: 7% of the fund for voting.
Editors: 3% of the fund for proposal preparation.
Community Members: 10% of the fund for voting.
Collection Rewards: 3% of the fund is distributed to owners of senator and editor NFTs whose usage period has expired and those currently holding active senator or editor NFTs.
The V2E mechanism reduces centralisation and allows the community to have a greater impact on project decisions. This strengthens the principles of transparency and fairness in project governance and financing.
Funds are distributed based on the success of projects and the results of community voting. This facilitates access to necessary funding for projects while enabling community members to play an active role in project success.
Project Merlin's V2E mechanism leverages blockchain and NFT technologies to enable democratic participation and a fair reward system in DAO and crowdfunding ecosystems. This approach significantly contributes to the future of decentralised finance and governance, aiming to create a more accessible and fair financing and project development environment for everyone.
