FAQ

Mission

What is NEPRIDAO?

NEPRIDAO is one of the best purposeful, impactful, lucrative, and largest DAOs (Decentralized Autonomous Organization) aims to raise funds to build the future of finance in a decentralized tokenized economy, democratize and bring DeFi to 3 Billion People, support builders of the decentralized economy, and other activities and projects the DAO may propose.

NEPRIDAO is a protocol governed by NEP token holders. We welcome all individuals and communities to join us and contribute.

Find out more at: introduction

How is NEPRIDAO going to build future of finance in a decentralized tokenized economy, democratize and bring DeFi to 3 Billion People? By building products, merging & acquisition, providing R&D resources, liquidity, and funding. Read more at: mission

What kind of projects will NEPRIDAO provide grants to? Why would NEPRIDAO do this? NEPRIDAO may look to provide grants for development of decentralized technologies including DeFI, governance, layer 1 or layer 2, privacy, NFTs, etc. We may also provide grants for contributors to NEPRIDAO, for example building a custom governance module, or efforts in community management, or the future NEPRIDAO foundation.

NEPRIDAO will look to support these projects because we benefit from these technologies together with the whole community.

All grants will be via NEPRIDAO proposal and voting process.

Structure and Setup

Who owns NEPRIDAO? Who controls the NEPRIDAO treasury? NEP token holders.

Is NEPDAO a registered organization? NEPDAO is not a registered company. We are a collection of token holders who agree to be governed by a set of smart contracts on the blockchain.

What is a DAO and why does NEPRIDAO use this structure? A DAO‌ is a decentralized autonomous organization, a structure used by many DeFi and crypto projects to govern their protocols. Decentralized — as there can be many DAO token holders with no single party having unilateral control. Autonomous — as any action successfully voted in by the DAO can be automatically executed on-chain without an intermediary.

"Decentralized" and "Autonomous" is a spectrum, with many projects including NEPRIDAO moving towards this goal over time. There are many factors to consider such as:

• Inefficiency of DAO decision making

• The required efficiency of centralized dev teams and administrators during early stages of the project

• Balancing decentralization and rewarding contributors — what if a few core teams contribute the most? Are they entitled to majority of DAO tokens? If not, what incentivizes them to be contributors instead of free riders?

• Limitations of current governance and blockchain technologies

How secure is NEPRIDAO? As with any crypto project, there is a chance for complete loss of funds, exploits or bugs in the smart contract, or malicious actions, or mistakes made by multi-sig administrators. Our phase 1 design is relatively simple and uses battle-tested industry-standard components including an instance of COMP token, Gnosis Safe, and Gnosis Snapshot.

Participation

How do I participate in NEPRIDAO? We are inviting the community to collaborate: be a community member, contributor, partner, token holder.

Community Members: Non-token holders can participate in our forum and social media, and share ideas. Good ideas may be adopted by NEP token holders. Community leaders may be provided with delegated votes.

Contributors: Individuals or teams that can help develop NEPRIDAO protocols, or work to arrange due diligence and token swaps with other projects, and request grants from NEPRIDAO.

Partners: We welcome any DeFi or CeFi project that can contribute to NEPRIDAO, or are willing to look for ways for our protocols to work together.

Token Holders: NEP token holders can propose and vote on the direction of NEPRIDAO and the use of NEPRIDAO treasury assets.

NEP Tokens

What is NEP? NEP will be an Ethereum based token that will have proposal and voting power in the NEPRIDAO governance module.

What is the total number of tokens and what is the emission? What's the circulating supply of NEP tokens? Are private sale NEP tokens going to be vested? What is the lock-up period? Please refer to Tokenomics

Which wallets will the tokens be stored? ERC-20 wallets. We recommend using Metamask, Trezor or Ledger hardware wallets linked to Metamask or MyEtherWallet, which allows adding of custom tokens. Before using an exchange address or other wallet, please check that NEP token is supported.

Will there be any free token distributions? Token holders (such as launch partners) will determine what to do with their NEP tokens, likely having some community reward programs on their respective platforms. For NEP tokens held in the NEPDAO treasury, any free token distributions will need to be proposed and voted on.

Treasury

How will NEPRIDAO treasury grow over time? NEPRIDAO will look to token swap with existing and emerging projects, and support them to be category winners. By holding partner project tokens, NEPRIDAO will be incentivized to help our partners succeed. NEPRIDAO will also build amazing, useful, impactful. and lucrative products that can contribute back to NEPRIDAO treasury. Read more at: growth

How often will contributions be made into NEPRIDAO Treasury? Contributions by DeFi partners: determined by smart contract, most likely every block or inherently part of their token.

Sales and Funding

Will there be a private sale? Yes, there will be one private sale.

Will there be a public sale? Yes. NEPRIDAO will initiate a public sale.

Roadmap

Are there any plans to build NEPRIDAO's own blockchain with the use of NEP tokens? NEPRIDAO affiliated R&D centers will prioritize building governance, treasury management, and DeFi products. In the future we will consider building our own layer 1 or layer 2 blockchain solutions if we require the functionality, and if the NEPRIDAO community supports and votes for it. Our mission is to support industry growth. We want to build useful products and work with existing solutions where possible (such as Ethereum layer 1 and layer 2).

Any plans to build on blockchains in the future, or to make NEP token multi-chain? NEPRIDAO aims to support a broad ecosystem and is chain agnostic. We have chosen to build on Ethereum initially as it has the strongest network of projects, users, and battle-tested development solutions. We are open to building on other blockchains, with key considerations being: 1\ we need to be confident that the chain will have a vibrant ecosystem in the future; and 2\ the usability of inter-chain bridge technologies. What is the partnership roadmap? What is the token swap roadmap? What is the product roadmap? NEPRIDAO affiliated R&D centers will prepare proposals and submit them for voting. Stay tuned.