FireDAO is a community-driven social DAO. Here are some frequently asked questions and answers about the FireDAO project to help you quickly understand FireDAO. Please note that answers may change as the project develops, so always stay updated with our latest announcements and updates as we create a great project together!
Answer: FireDAO is a social DAO based on the PID and FID soul-bonding account, initiated and established by the RainbowCity Foundation. It is a native Web3 DID identity protocol based on blockchain technology. FireDAO operates on the Arbitrum One network and aims to create a community-driven autonomous economy.
Answer: The goal of FireDAO is to achieve decentralized decision-making, shared economy, and social interaction revolution through the power and wisdom of the community, ultimately leading to the creation of the "Bitcoin Civilization." We believe that the creation of Bitcoin will propel human society into an advanced civilization based on mathematics and algorithms, which we refer to as the "Bitcoin Civilization." By creating and sustaining "FireDAO," we aim to provide a continuous fuel source for the "Bitcoin Civilization," passing on wisdom and fueling civilization.
Answer: To participate in FireDAO, you need to mint an NFT called FirePassport to obtain a unique PID. Once you have a PID, you become a prospective Rainbow Warrior and gain an account on the FireDAO forum, enabling you to actively participate in the ecosystem development of FireDAO. A FireDAO forum account can only be obtained through minting a PID as it is part of FireDAO's community identity system. Once you have a forum account, you can participate in our Zealy early contributors program, forum bounty program, and community volunteer program.
Answer: The first batch of contracts for FireDAO, including FirePassport, FDT-OG, and FLM, have been launched on the Arbitrum One mainnet. We are actively preparing and testing the testnet and mainnet launches of related contracts such as FireSeed, FireSoul, On-chain Reputation, City Nodes, Global Guilds, and FDT. Our code follows the principles of open-source, and any community member can track our development progress on our GitHub.
Answer: FireDAO is initiated and established by the RainbowCity Foundation, with FireSeed Labs as the main development and operations team for the FireDAO project. The RainbowCity Foundation is a non-profit foundation initiated and founded by Mr. Kunyuan, headquartered in Singapore. The foundation is dedicated to advancing the evolution and development of the "Bit Civilization." Mr. Kunyuan is a faithful believer and follower of Satoshi Nakamoto and Bitcoin, with extensive experience in the crypto world. He founded the blockchain learning community ChainNode and served as the Chief Community Leader of the renowned community-based exchange FCoin. He considers the advancement of the Bitcoin spirit as his lifelong pursuit.
Answer: FireDAO adopts a complex tokenomics model known as "3+2+7+X." This model includes ecosystem tokens, ecosystem Web3 IDs, soul-bonding tokens, and community behavior badges. There are initially more than 10 different types of tokens to sustain and maintain the operation of the entire on-chain economy.
For more detailed information, please refer to our documentation system.
Answer: When a user mints a FireSoul account, they receive an FID (Fire Identity) that is bound to their soul account. The soul account stores different Soul-Bonding Tokens (SBTs), each with a different weight coefficient. By counting the number and weight of different SBTs in the soul account, each FID is assigned a comprehensive reputation score, which represents their on-chain reputation in FireDAO.
Based on the on-chain reputation score, FireDAO grants voting rights to each formal DAO member, enabling them to participate in the community governance of FireDAO.
Answer: FDT is the governance token of the FireDAO ecosystem and serves as the core token for the entire ecosystem's governance. FireDAO determines users' long-term holding information based on the Soul-Bonding Token SBT-001, which, in turn, determines the ecosystem's reward ratio.
Community users can acquire FDT through various channels, such as exchanging FDT-OG for FDT, exchanging FLM for FDT, and donating to the Seed Pool and Consensus Pool to receive FDT. Users can also directly purchase FDT on the secondary market.
Answer: The entire FireDAO ecosystem generates multiple sources of income, such as minting income from PID and FID, minting and sales income from FireSeed, and donation income from the Seed Pool and Consensus Pool. These incomes are secondarily distributed by the RainbowCity Treasury to different user entities. These entities contribute to the ecosystem, which is a crucial support for the value of FDT. 15% of the RainbowCity Treasury's income will be used to buy back FDT and add liquidity, while 5% will be used to buy back FDT and directly burn it, providing the fundamental support for the FDT token price.
Answer: FLM is the incentive token in the FireDAO ecosystem, distributed as ecosystem incentives to various participating entities. In the FireDAO ecosystem, FLM can be exchanged for governance token FDT at a value of 0.01 USD and is linearly released at the speed of each block, with a release period of two years. FireDAO determines users' long-term contribution information based on the Soul-Bonding Token FS-SBT-002 and provides specific incentives to long-term contributors in the ecosystem.
Community users can acquire FLM for free by actively participating in contributing to the ecosystem, such as participating in the Zealy Early Contributor Program, joining the FireDAO Community Volunteer Program, participating in the Forum Bounty Program, and engaging in LP and FDT lock-up mining. The entire ecosystem members collectively build FireDAO.
Answer: FireSeed is the identity token in the FireDAO ecosystem, used for FID generation and referral rewards positioning. Joining FireDAO requires burning one FireSeed to generate a soul-bound account called FireSoul, becoming a formal member of FireDAO. FireSeed is also used to determine referral relationships. When a wallet transfers one FireSeed to another wallet that has never owned FireSeed before, the transferring wallet becomes the referrer of the receiving wallet, thus establishing referral relationships within the FireDAO ecosystem. FireDAO calculates users' comprehensive referral performance based on the Soul-Bonding Token FS-SBT-003 and provides special incentives to community members with outstanding referral achievements.
Community users can acquire FireSeed by minting it at the Holy Fire Pit, directly purchasing FireSeed on NFT exchanges like Opensea, participating in various community tasks to receive FireSeed for free, and transferring FireSeed among community members. Additionally, FireSeed can be obtained through airdrops when minting PID.
Answer: "Bit Civilization" is a concept introduced by the RainbowCity Foundation, representing an advanced civilization based on mathematics and algorithms. In this civilization, Bitcoin is seen as the spark that ignites the "Bit Civilization," and DAO organizations are considered the soul of the Web3 world. Therefore, DAO organizations are also the soul of the "Bit Civilization," and FireDAO is seen as the fuel of the "Bit Civilization." By creating and sustaining FireDAO, we aim to provide a continuous supply of fuel for the "Bit Civilization," inheriting wisdom and igniting the civilization. Each participant in the "FireDAO" ecosystem is a "Rainbow Warrior" who practices the true spirit of Satoshi Nakamoto's Bitcoin.
The above are some of the most common questions about FireDAO. For more detailed information, please refer to our documentation system. Feel free to ask questions and engage in discussions on our official forum.