NETA DAO is a decentralized autonomous organization (DAO) built on the Juno Network, which aims to accelerate the development and adoption of the Juno Network and the wider Cosmos ecosystem. The DAO is centered around the NETA token, a scarce, decentralized store of value asset native to the Juno Network. NETA DAO is the first focused initiative of contributors seeking to perform governance action exclusive to the NETA token as an asset. It is an entirely community-owned and permissionless organization, with NETA token holders driving its operations and decision-making processes.
History and Formation
The NETA DAO was formed by active members of the Neta & Juno Community Discords over a period of several months. Its establishment was driven by the need to create a collective of Juno supporters dedicated to advancing the development and adoption of the Juno Network and the broader Cosmos ecosystem. The Core Development Team of the Juno Network, Core-1, created and distributed the NETA token but is no longer involved in its operations. The community now owns and manages NETA, and any individual or entity can contribute to the DAO.
NETA DAO governance is bottom-up, with decisions made through proposals that members vote on during specified periods. The DAO’s built-in treasury is only accessible with the approval of its members, ensuring that the community collectively owns and manages the organization. NETA token holders can stake their tokens to participate in DAO governance, with a 91-day staking period demonstrating long-term commitment to the network.
Use Cases and Adoption
Localized Store of Value
The primary use case of NETA is to serve as a localized store of value on the Juno Network for its ecosystem and the greater Cosmos ecosystem. As a Juno token, NETA is more localized and potentially resistant to macro and microeconomic factors that might affect other tokens such as Bitcoin.
Permissionless and Modular
NETA is permissionless and modular, allowing any dApp to use it and any DAO to be a NETA DAO. This flexibility makes the token suitable for a wide range of applications within the Juno and Cosmos ecosystems.
Community Involvement and Contribution
NETA DAO encourages community involvement and contribution through various channels, such as Commonwealth discussions, weekly meetings, task proposals, promotional material creation, and collaborations with other communities or DAOs. Members can also contribute by sharing their creative ideas, participating in existing tasks, or creating their own task proposals.
Promoting the DAO
Community members can promote NETA DAO by creating and sharing promotional materials such as graphics, videos, and written content. They can also reach out to other communities or DAOs they are involved with to explore collaboration opportunities and share NETA on social media platforms.
$NETA Tokenomics and Distribution
The NETA token is a decentralized store of value asset on the Juno Network. It was fairly distributed, with no seed sale, private sale, public sale, or reserves held by any third party. For more information about the NETA token, its distribution, and tokenomics, please refer to the dedicated NETA token article.
Airdrop and Claim Period
The NETA airdrop allocated 32,950 NETA tokens to early Juno users who claimed the ‘GovDrop’ at neta.money. The claim period was in February 2022, with 31,886.6 NETA claimed and 1,063.4 NETA permanently burned. The distribution was based on specific criteria related to delegated JUNO, voting participation, and delegating to validators outside the top 20.
Frequently Asked Questions
Due to NETA’s distribution structure, multiple DAOs can form around the token. NETA DAO is the first such organization, established by active members of the Community Discord. It is referred to as “Neta DAO” on the official website, social media pages, and other related platforms.
NETA can be obtained on decentralized exchanges such as Wynd, Hopers, and Osmosis Frontier. It is not available on any centralized exchange.
Staking Period and Rewards
The 91-day staking period for NETA tokens signals long-term commitment to the network and belief in its future. There are no staking rewards, as NETA is not inflationary. Token holders can participate in DAO governance by staking and may also enter yield-incentivized liquidity pools available on Wynd.
Collaborations and Partnerships
NETA DAO aims to collaborate with other communities, projects, and DAOs within the Juno Network and the wider Cosmos ecosystem. This collaborative approach is intended to foster growth, increase adoption, and promote the development of new use cases for the NETA token and its underlying technology.
As part of the Cosmos ecosystem, NETA DAO benefits from the cross-chain interoperability provided by the Inter-Blockchain Communication (IBC) protocol. This enables seamless interactions between NETA and other assets on the Juno Network, as well as with other blockchains within the Cosmos ecosystem.
Future Developments and Initiatives
NETA DAO is driven by its community, and future developments and initiatives will be determined by the collective decisions of its members. As the organization continues to grow and evolve, new proposals and ideas will be put forth, voted on, and potentially implemented. This bottom-up governance structure ensures that NETA DAO remains agile, adaptive, and responsive to the needs of its community and the wider ecosystem.