UTU.ONE is a blockchain tech-based decentralization social app. UTU has drawn plenty of attention at this month’s NFT.NYC Conference. ERC-721 lead author William Entriken was thrilled to see an all-in-one forward-thinking application to provide communities with new moderation/consensus/art tools. This is our paradigm shift to Web 3.0 and will be social media’s next generation. Loot shall not miss it.
Abstract
UTU.ONE had built a LOOT DAO on their app to implement an entirely community-based operation to develop metaverse projects. I encourage us to migrate our discussions to UTU now. It’s a DAO for Loot owners only, more secured and reliable, with upgraded functions like face ID verification, built-in crypto wallet, on-chain actions, and persistent chatrooms.
Background
Before getting into specifics, it’s essential to know what UTU is. UTU.ONE is a blockchain tech-based decentralization social app. And it’s the first and only one combining tokenized economy with social media. Once we migrate to the platform, it will be a one-stop upgrade for our community on efficiency, credibility, and inclusivity.
DAO stands for Decentralized Autonomous Organization. We can expect a built-in crypto wallet, instant messaging, in-app trade, community proposals, and NFT marketplace, all customized for the Loot project. At UTU, DAO runs off coding written on a collection of interconnected and automated smart contracts on blockchain.
It’s guaranteed that each Loot DAO member will be paid for certain dividends based on the amount of Loot DAO tokens on hold. UTU will automatically transfer the revenue shares to each member from DAO NFT sales as the smart contract written.
Specification
• Identity Authentication
UTU utilizes 3D facial verification upon DAO entry and crucial actions like token swop and NFT purchasing. To ensure Loot DAO is a trusted ground for Loot NFT holders only, UTU raises the entry bar by adding an owner verification process on Metamask. The NFT ownership will be verified as an entry ticket.
• On-chain Records
Enabling on-chain recording for everyone’s crucial actions on UTU, the DAO is customized to prevent any misconduct in the process. Posts & comments for discussions, votes from every custodian, community tasks to implement any initiative will all be recorded on-chain, which is traceable and reliable.
• Custodian System
DAO members will elect custodians roundly to maintain the community running. While DAO is running autonomously, custodians will be in place to influence decisions and directions by raising and managing proposals. Custodians can create and manage five different types of proposals: Token Transfer, Change Custodian Terms, Freeze Account, Unfreeze Account, and Remove member.
• Secured Crypto Wallet
In the app, there is a ready-to-use built-in crypto wallet. It’s easy to conduct transactions, including purchasing tokens with traditional currency. As previously written in smart contracts, the DAO allows members to lend and stake tokens with autogenerated and accumulated staking rewards.
• Financial Incentive
Each Loot community member will be holding a certain number of tokens issued by Loot DAO. Like we build the future for Loot, the value of DAO tokens is driven by the size and awareness of the community. It’s a corresponding rise.
• Persistent Chatrooms
The app allows us to talk over text, voice, video and organize persistent group chats anytime, anywhere, which can also be linked to Loot DAO. It’s like a one-stop destination of instant messaging and community operations.
Order of Actions
Loot DAO on UTU is now open to the public
-
To join Loot DAO on UTU, download the UTU app
i. Download on the App Store
ii. Get it on the Google Play
And follow the on-screen instructions for completing your signup. -
Once you have the UTU app and account, tap the “Verify” button below. You will be directed to Metamask. If you are browsing on a desktop, please sign in to Metamask to continue.
If you are using mobile, please ensure you have the Metamask app to process the verification. Then copy the link and open the page with the browser built-in Metamask. -
Provide a signature to verify your NFT ownership. A QR code will be autogenerated then. Please save the QR code. No transactions will occur by signing.
-
Check in by scanning your QR code in UTU to complete the verification.
-
Once the verification completes, you will join the community automatically. It’s your time to discover and build the dreamland!
Poll
For: I’d like to join Loot DAO at UTU.
Against: I expect to see more functions and features.
Sign up to join LOOT DAO on UTU, and you will receive free tokens to become one of the very initial members. Please leave comments below about how you feel about the product. We welcome any of your suggestions or expectations of Loot DAO!