WavesDAO project gets DWF Labs’ vote of confidence, causing a 91% increase in the price of WAVES.
- WavesDAO is a for-profit decentralized autonomous organization (DAO) on the Power Protocol platform that aims to support the development of projects based on the Waves Blockchain.
- DWF Labs, a market maker, has committed 500K WAVES to the WavesDAO project.
- During the initiation period, WavesDAO aims to channel a third of Waves miners’ rewards into the Waves DAO.
Today, WAVES price has reached a daily high of $2.82 after a 91.23% surge in price in 24 hours. Although the surge surprised most crypto traders, it was expected as global digital asset market maker and web3 investment firm DWF Labs had committed to the WavesDAO project.
On June 22, DWF Labs announced its support for the launch of WavesDAO by committing 500K WAVES to Waves staking and voting to support the project. DWF Labs’ involvement in the DAO initiative will empower developers to build on the Waves Blockchain.
What is WavesDAO?
WavesDAO is a for-profit DAO on the Power Protocol platform aimed at supporting the development of Waves Blockchain-based projects and other initiatives.
Essentially, to participate in the DAO, a governor must have a minimum of 1 PWR and stake 100 PWR for a proposal to succeed during initiation.
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Currently, WavesDAO plans to channel a third of Waves miners’ rewards into the Waves DAO, but this proposal must be approved by Waves miners and stakers through on-chain voting.
WavesDAO is the first DAO on the Power Protocol platform and will be managed by PWR token stakers, making it an investment vehicle for the community.
