👋Introduction
Learn about Charisma, the memecoin DeFi protocol on the Stacks blockchain
Introduction
Charisma is a community-run protocol built on the Stacks blockchain, leveraging Bitcoin's security. It operates with full on-chain governance where community members holding the governance token (CHA) can influence the development and operations of the project by voting on proposals. These proposals are executed automatically via smart contracts, ensuring decentralized and transparent decision-making.
Governance in Charisma DAO
Charisma DAO allows its community to propose and vote on various changes, upgrades, and initiatives. Proposals can cover a wide range of topics, including platform upgrades, new features, economic adjustments, and community initiatives. All proposals that receive majority approval are automatically implemented by the smart contracts.
Types of Proposals:
Governance Proposals: Modifications to the governance structure or voting mechanisms.
Economic Proposals: Adjustments to tokenomics, staking rewards, or introducing new economic incentives.
Development Proposals: New features or improvements to the DAO’s infrastructure.
Community Proposals: Initiatives for community engagement, marketing, or partnerships.
Steps in Creating a Proposal
Create an Extension: Extensions are smart contracts that add new features or functionalities to the DAO. Developers can refer to existing extensions for guidance.
Deploy and Test: Deploy the extension contract to the Stacks mainnet and conduct rigorous testing in a sandbox environment.
Create the Proposal Contract: Develop a proposal contract outlining the details of the extension and its activation parameters. Deploy this to the Stacks mainnet after successful testing.
Submit for Voting: Use the "propose" function of the proposal submission contract to introduce the proposal. The voting period typically lasts around 10 days.
Conclude the Proposal: If the proposal passes, use the "conclude" function to execute the contract and enable the extension.
Creatures
Charisma Creatures is an advanced yield farming platform within the Charisma ecosystem, utilizing unique semi-fungible tokens (SFTs). Creatures can be summoned, managed, and tapped for energy to participate in Quests, providing a dynamic and engaging yield farming experience.
Key Features:
Creatures: Semi-fungible tokens representing digital entities with specific attributes.
Summoning: Lock up assets to summon creatures.
Energy Mechanism: Creatures generate energy over time, used in Quests to earn rewards.
Quests: Smart contracts that define tasks for tapping creature energy and earning rewards. Each Quest is unique, offering different mechanics and experiences.
Quests
Quests are smart contracts deployed within the Charisma ecosystem that allow users to tap into their creature's energy to earn rewards. Each Quest provides a unique and rewarding experience, enhancing traditional yield farming.
Functionality:
Deployment: Quests are deployed as smart contracts, each with specific mechanics and conditions.
Participation: Users tap their creature's energy to engage in Quests.
Completion: Completing a Quest involves fulfilling tasks, after which rewards are automatically issued.
Index Tokens
Charisma Index Tokens offer diversified exposure to a basket of underlying assets, primarily consisting of liquid staked tokens and regular tokens.
Key Features:
Diversification: Exposure to multiple assets, reducing risk.
Liquidity: Tradable on DEXs, providing flexibility.
Governance: Holders can participate in governance decisions.
Adjustable Parameters: Governance can modify lock times, token compositions, and more through proposals.
Liquid Staking Pools
Liquid staking in Charisma allows users to stake their tokens while maintaining liquidity through derivative tokens.
Benefits:
Liquidity: Trade or use derivative tokens in DeFi activities.
Flexibility: Stake and unstake without waiting periods.
Governance Participation: Holders of derivative tokens can vote on proposals.
Governance-Controlled Parameters
Charisma DAO empowers the community to control and modify various aspects of the platform through governance proposals:
Liquidity Lock Times: For Index Tokens, ensuring flexibility and stability.
Creature Power Ratings: Adjusting the power levels of creatures to balance the ecosystem.
Quest Reward Amounts: Modifying the rewards issued by Quests to maintain engagement and fairness.
Advantages of Charisma DAO
Community-Driven Governance: Decisions reflect collective interests.
Security and Transparency: All actions are recorded on the blockchain.
Economic Incentives: Earn passive income through staking.
Innovation and Flexibility: Propose and implement new features.
Engaged Community: Active participation fosters ownership and collaboration.
Secured by Bitcoin: Robust security leveraging Bitcoin’s network.
Charisma DAO represents a powerful platform for decentralized governance, community engagement, and continuous innovation, driven by the collective input and participation of its members.
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