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ACT: Citizens First
The internet age has accustomed bearing to absolutely new models of fundraising. Constant availability of abreast advice about accepted contest has aloft amusing alertness amid citizens all over the world. Meanwhile, accouterment in the attributes of business and accounts accept fabricated it easier for clandestine citizens to barter money, appurtenances and casework beyond borders. The all-around nonprofit area has been adapted as a aftereffect of these developments. Digital fundraisers acquiesce abate groups to acquisition a advanced admirers for their own self-advocacy work. On the added end, the internet allows abeyant donors to affix with the causes that amount best to them, and to see the appulse of their donation on a actual animal scale.
The ACT platform developed by draglet, represents the abutting date in this shift. ACT is a decentralized free alignment (or DAO) that aggregates micropayments from clandestine capacity to armamentarium grassroots amusing change initiatives. DAOs accouter blockchain technology to aggregate and allotment agenda backing amid accumulation members. While the technology that admiral a decentralized free alignment is cutting-edge, it’s accessible for end-users to get started with the ACT platform.
User Experience
Users affix to the ACT arrangement through a adaptable app. During the antecedent setup, they are prompted to accept which blazon of account they’re best absorbed in. Then, they acquirement “votes” which are acclimated to armamentarium proposals. The money aloft through these purchases is affiliated and acclimated to armamentarium acknowledged proposals. Push notifications accomplish users acquainted of new proposals in their absorption area. Then, they can adjudge to vote for or adjoin the proposal, or abjure from voting altogether. When a quorum of “yes” votes is reached, a smart contract automatically triggers the allotment for the initiative, which is baffled to the proposal’s initiators.
Because all absorbed ACT associates are notified of new proposal, and the allotment action is automated, ACT is cellophane and autonomous by design. Third parties cannot arrest or arbitrate in an ACT action already it achieves a analytical accumulation of votes, and bodies all over the apple can actuate whether it should get funded. Users’ voting ability is additionally carefully accountable to anticipate abduction by any alone or alignment application ACT.
ACT is fundamentally altered from crowdfunding, as well. When users become allotment of the ACT network, they top up their voting annual so that they are accessible to abutment amusing initiatives. Rather than facilitating donations on a case-by-case base (as with crowdfunding), ACT is a arrangement that encourages abiding autonomous action and engagement. Users absolutely actually “vote with their dollar.”
Financial Accessibility and Security
As it is, you don’t alike charge a accomplished dollar to vote. The draglet aggregation has advised accessibility to be at the amount of the ACT DAO, which includes a low barrier to access from a banking perspective. Thus, the amount of a distinct vote is aloof 10 cents. Currency adherence is important to accessibility, too, which is why votes costs are denominated in USD as against to cryptocurrency. ACT runs on the Ethereum blockchain, which is awful secure. This is clashing the aboriginal DAO, which was developed by its own team, and resulted in a actual annihilative hack. Ethereum has accurate added secure, but ETH is still adequately volatile.
Voting Democracy
Although the voting action reflects ACT’s charge to democracy, the acquirement of voting ability with money is not a absolute system. draglet has formed to ensure that asymmetric voting ability is not purchased by the best wealthy. After an antecedent voting aeon is over, a absolute that reflects voting patterns is activated to the best cardinal of votes individuals can put against proposals, preventing alone abundance from accepting absolute access over the success or abortion of a project.
ACT Curation Engine (ACE)
A amount basic of ACT is the advance of accurate causes. Making abiding that alone high-quality proposals ability end users is important to establishing the angary and ultimate success of the ACT platform.
This is area the ACT curation agent (ACE) comes in. Users can opt to become curators of proposals that accept not yet been pushed to the broader network. They do this by accessing the curation engine, which allows them to analysis and vet proposals afore they’ve accomplished a broader admirers via advance notifications. Curators can booty an alive role in free the affection of a cause, such as requesting added advice to affirm authenticity. They again upvote or downvote proposals. Essentially, ACE curators act as gatekeepers that advance the candor of ACT.
ACT is an ERC20 Token that will be traded on exchanges, and it is the alone “currency” with which curators can acquirement ACTION Tokens. ACTION are accolade tokens acclimated by the ACT belvedere as allotment of the appraisal algorithm for babysitter rewards. These rewards, which according 15% of all belvedere revenue, will be broadcast depending aloft curation effort, above-mentioned curation success, the cardinal of ACTION held, business effort, and how aboriginal curation is done.
In adjustment to animate abiding commitment, ACTION tokens are vesting tokens, which can alone be adapted aback to ACT over one year at account intervals. They are additionally non-transferable. Right now, there is a lot of abstract trading in the cryptocurrency community, arch to baby bursts of payoffs as against to abiding growth. This undermines the accommodation for DAOs and added blockchain applications to advance abiding growth. Because the eyes for ACT is to become a all-over belvedere for amusing change, sustain development is one of its architecture principles.
ACT and ACTION were created to administer the abstraction of DAOs against the greatest accessible amusing good. draglet presents ACT in the spirit of artlessness and decentralized democracy, which we accept this is the appropriate footfall against the future.
Press Contact Email Address
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Supporting Link
www.draglet.com
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