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iZUMi Finance Launches DAO, Enables veNFT Quadratic Voting

Published 02/21/2022, 08:48 AM
Updated 02/21/2022, 09:00 AM
iZUMi Finance Launches DAO, Enables veNFT Quadratic Voting
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  • iZUMi Finance announced the launch of its decentralized autonomous organization (DAO).
  • veiZi offers unique interest-bearing NFT.
  • veiZi can be traded on mainstream NFT markets such as OpenSea.

Uniswap V3 liquidity mining provider iZUMi Finance officially announced the launch of its decentralized autonomous organization (DAO). The DAO will be governed in a revolutionary way, with a quadratic voting mechanism based on veNFT.

In terms of technology, the network’s native token — iZUMi DAO veNFT (veiZi) will enable DAO via quadratic voting on key issues for the community. It is compatible with ERC271 standard and is designed to govern rights of the iZUMi Finance protocol. This includes voting, boosting and returning staking rewards to name a few. The iZUMi DAO governance votes are represented by the number of tokens held within a veiZi NFT.

The network will use 50% of its staking rewards revenue to buy back iZi that will be allocated to veiZi NFTs according to voting power. With

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