IDVT 101: Introduction of IDV DAO’s governance token

Since Ideaverse studio is building games and products for the web3 community on blockchain technology, ideaverse is designed to work and operate as a DAO, which means that Ideaverse community members who value it the most will take the lead to make crucial decisions in the future of Ideaverse studio.

every DAO requires a governance token that will give the holder specific rights, Ideaverse DAO token symbol is $IDVT. Ideaverse studio planning to launch several games in the coming months and years, and the $IDVT token will be the only governance token that you need to hold to participate in the governance of all those games.

Some members of our community already calling the dream governance token because it is a governance token that will give you the right to do things you never imagined before joining the web3, you will be able to participate in business decision-making, product development, and marketing activities planing as a $IDVT token holder, we are almost sure no other governance token can compete with that :)

How to use $IDVT as a holder?

Investing in $IDVT and holding it will give certain rights and perks that are exclusive to the holders and other community members who can not benefit from such as staking, voting, and Ideaverse NFTs.

$IDVT staking will last 4 years and can benefit you in two ways, first, you will earn passive income from your tokens which means you will be rewarded by receiving a distribution of $IDVT, in addition, to earning interest on your staked $IDVT staking allow you to vote in IDV DAO using sIDVT which you will receive in exchange for your staked $IDVT.

$IDVT tokens are needed to use certain functionalities in some of Ideaverse-issued NFTs, also you can use $IDVT tokens on our partner NFT market Metora products.

$IDVT tokenomics:

$IDVT token tokenomics are designed in a way that preserves value and makes IDV DAO a community-driven one, there will be only 150 million tokens minted. the table below describes the distribution of $IDVT tokens.

How to participate in governance as a $IDVT holder?

As we mentioned above, every $IDVT token holder is eligible to participate in the IDV DAO governance, participation in the governance is not a straightforward process but a well-articulated process that is designed to work flawlessly.

The first thing you need to do in order to participate in Ideaverse DAO governance is to get the voting token, you need to lock/stake your $IDVT token and get the $IDVT that is used in vote and governance.

Governance proposals can be started by any $IDVT holder, and the team will work on filtering them by importance and priority, then will be submitted to the community governance committee

The governance committee is a body elected by $IDVT holders to pass or decline proposals, so you need to choose the one that will represent your interests in Ideaverse DAO the best.

*Thanks for reading, for more details about Ideaverse DAO governance, make sure to read our whitepaper or drop your questions in our Discord