- DAO launch will be on April 20, powered by the Aurora cross-chain bridge on NEAR Protocol
- Project contributors forecast a TVL of $100 million in as little as 6 months
- Native token to allow community to take part in grow operations by harvesting yield through staking
CannaDAO has launched the first decentralized, member-governed platform for cannabis growing and operations in the world, Bankless Times learned from a press release.
The DAO launch will be on April 20, 2022 and will be powered by the Aurora cross-chain bridge on NEAR Protocol. The community can participate and earn rewards from real-world operations within the cannabis industry.
TVL expected to reach $100M in immediate future
Project contributors forecast a Total Value Locked (TVL) of $100 million in as little as 6 months, but in a year and a half at most. They are former CEO of Changelly and serial entrepreneur Eric Benz and Jon Matonis, Founding Director at the Bitcoin Foundation, whose former roles include VISA International, Verisign, Sumitomo Bank, and Hushmail.
Another contributor is Nicholas Gregory, CEO of CommerceBlock. He is a cryptocurrencies entrepreneur, software engineer, and authority on digital assets who currently holds a leadership position in multiple Wall Street investment banks.
Benz commented:
The community can now disrupt, destigmatize and decentralize a trillion-dollar industry. The days of targeting stoner culture are no longer and the time to redefine what cannabis means and represents is now. The future of finance is green.
CannaFarm will launch on March 7 on Aurora with a series of NFT releases and a P2E game to attract users. The DAO’s native token $CANNA will give the community an important role in governance.
It will be available on Ref.finance with launch of the DAO and allow community members to take part in grow operations by harvesting yield through token staking, propose cannabis growing opportunities, and vote on submitted proposals, including proposals related to funding.
Three core project components
The components of the CannaDAO project are CannaGuild, collective governance of the DAO, cannabis grows and businesses for decentralized funding and real-world yield farming, and Cannaverse. Cannaverse is a metaverse with games, NFTs, and more.
Benz added:
The hard-fought legal battles around cannabis rights have resulted in significant breakthroughs and increased tolerance around the world. But the vast majority of the world is still excluded from the benefits of the legal cannabis industry, whether consumers, growers, or businesses. CannaDAO removes the hurdles for so many who want to participate in this blooming economy while at the same time having a strong social impact.
About CannaDAO
CannaDAO offers an unprecedented opportunity and leverage to guide the future of cannabis, including lobbying political establishments, leading educational programs, funding scientific researchers, acquiring real grow operations, building a community treasury to fund different ventures, and more.
