DAO (Decentralized Autonomous Organization) is based on smart contracts, in which, unlike traditional companies, all rules are coded in smart contracts and executed automatically, with no human intervention. So far, the DAO is the most fair, transparent, and democratic organisation.
Lucky Play will entirely rely on DAO and will open source the smart contract on Github, where it will be supervised and audited by everyone.
To participate in Lucky Play DAO, you must have veLT, which is acquired by staking LT, and you must have Lucky NFT mined on the official website if you want more power.
The DAO Participants' Rights
Dividend: Every day, the fee for all games will be automatically divided as follows: 50 percent goes to the team, 40 percent goes to all veLT holders, and 10 percent goes to the DAO as a maintenance fee.
Asset management: The 10% of the game fee managed by DAO, will be used only through the contract defined or vote passed by proposal, and all actions involving these assets will be supervised by all participants.
Plans: According to the proposal, the roadmap of Lucky Play is under the control of DAO, and the team should work in accordance with the decision.