DAO stands for "Decentralized Autonomous Organization". The RichCity DAO owns the most important smart contracts and assets that make up RichCity. It also owns a substantial purse which allows it to be truly autonomous as well as subsidize various operations and initiatives throughout RichCity.
How is it relevant to me? RichCity is the coolest fully decentralized virtual world. It was always part of the original vision to hand over control to the people who create and play in this virtual city. In short – you, the users, Through the DAO, you can participate in the governance of the policies created to determine how the world behaves.
The community members who hold gRICH, the governance token, could propose and vote on policy updates, future LAND sales, new role add, and whatever the community deems relevant. Voting will take place on Snapshot, and Discord server.
What “X-to-earn” means is that everyone in RichCity has the opportunity to earn incomes in various ways.
Usually in a DAO, there will be 4 types of participants: Core contributors, Bounty hunters, Network participants, and Token holders.
Here is a closer look at the ways participants will see earning opportunities in the RichCity:
This part of people are focusing full-time on the RichCity project, and their interests are most directly aligned with the health of the organization. The need for focused and embedded workers will never go away in RichCity, but this group of people will be much smaller in Web 3.0 than ever before.
“Bounty Hunters” complete clearly defined work for an agreed upon price and / or duration of time. These people are often functional experts in areas such as finance, development, and design, who provide services to many DAOs at one time and fulfill specific tasks with clear boundaries. RichCity will use tools like “Dework” to publish these tasks.
Functioning more like open economies than closed organizations, DAOs will reward each individual contribution based on the value it provides, regardless of who it comes from. This means that your everyday actions that are valuable to RichCity will be turned into income-earning opportunities!
Aside from the ‘play-to-earn’ category, the RichCity will incubate more types of X-to-earn activities, such as learn-to-earn, create-to-earn, teach-to-earn, walk-to-earn, plant-to-earn and so much more offline activities that will have good impact to the citizens real life, as well as the planet!
Everyone could be the investor of RichCity and enjoy the benefit from the development of the city.
RichCity is a game universe filled with cool NFT roles, equipment, gangs, and buildings that players can collect to build the metaverse on the Lands. Players aim to play, battle, collect and build the city. The city will have a player-owned economy where players can truly own, buy, sell, and trade resources they earn in the city through playing strategically and contributing to the ecosystem.
There are and will be many varied games experiences. Many of them will have gangs compete with each other using complex strategies and tactics to attain top rankings or be rewarded with coveted equipment. Others will have them complete quests, defeat other players, and unlock in-depth storylines.
The games that are going to be published: - Gangster Legends - The Red House - Entrepreneurial Legends - Gotham City - Name not final - Star Wars - Name not final
RichCity will also not be limited to being a game provider, it will also be developed as a game publishing platform for the RichCity community developers who want to turn their unique and valuable thoughts into reality.
Our vision is to build a city governed all by its citizens, so we use Decentralized Finance (DeFi) tools to make sure the city runs without a central authority, and all the transactions get logged into a public blockchain which could never be changed.
The player-to-player economy, which we strongly believe in, will boost the construction of RichCity, also can’t be built without the DeFi tools.
The DeFi functions and features planned to be developed include: - Build the DEX, add the Swap function - Develop the NFT marketplace - Deploy the stablecoin protocol - Build the lending platform
RichCity will gradually improve the DeFi financial infrastructure to support the whole ecosystem, and provide more tools and income opportunities to serve the participants in the ecosystem.
You can think of RichCity as a real city in the metaverse with a real economy, but how this differs from a city in real life is you could participate in the construction of the city with the DeFi tools in the economy and many other parts!
R-Chain will construct an open and borderless Blockchain world that could streamline supply chains, improve traceability, simplify trade and improve financial transactions.
R-Chain will use the Solidity language and adopt the EVM mechanism. The provision of computing power on-chain will adopt the POS mechanism. Transactions on R-Chain will be finalized in a second and cost quite less than other chains. With its unique protocol, R-Chain can process thousands of transactions per seconds and scale to thousands of nodes. The R-Chain will be the most indispensable piece of the RichCity Web3.0 puzzle!
The R-Chain will take 3 steps to achieve the ultimate goal:
STEP 1 In interactions with Defi protocols, RichCity's NFTs will become the representations on-chain and could be collected and spread by the metaverse's inhabitants, helping the community to further thrive!
STEP 2 Create the Social-fi functions to help the citizens talk to each other in the RichCity. Combining the advantages for the community with Defi, Game-fi, and Social-fi together will ensure a positive social experience for the entire community.
STEP 3 When visualization, blockchain technology and a thriving ecosystem are brought together, combining VR, wearable devices everyone can then “walk” in the city, “touch” the city. The RichCity will officially enter the Metaverse phase!
RichCity takes advantage of the Web3.0, and will build the open world owned by the builders and participants, implemented by the token.
Web3.0 is not all about incentivizing people to play a game in a crypto project. Web3 will house RichCity’s middleman-free financial economy, social system, personal identities and much, much more in the not-so-distant future!
Web3.0 technology will help RichCity to build the truly free and participants owned metaverse!