Press Release

Introducing the working principles of AirCash

A DAO-driven approach.

News Desk · Dec. 15, 2021 at 3:10 pm UTC · 4 min read
Introducing the working principles of AirCash

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The term DAO, which stands for Decentralized Autonomous Organization, was coined by developers who believed that by putting decision-making power in the hands of an automated system and a crowdsourcing process, they might eliminate human mistakes and manipulation of investor funds. This has resulted in a significant difference in how DAO works and why it is chosen over traditional financing methods:

  • Corporations are governed by bylaws, which detail the group’s rules and regulations and, more importantly, are arranged into hierarchies. The old method is based on books and is hierarchical. These rules are followed by officials and staff and are intended to make the organization’s day-to-day operations run smoothly. These bylaws are notable in that they are legal document that may be enforced by the courts. Smart contracts, on the other hand, structure DAOs, which carry out duties in real-time. Because their regulations are written into the contract’s code, they are immune to human error or wrongdoing.
  • Instead of distributing shares that dictate ownership and voting rights to investors, DAOs distribute tokens. Traditionally, If voting is allowed, votes are tallied internally, and the outcome of voting must be handled manually. In DAO-oriented protocols, votes are tallied, and outcomes are implemented automatically without trusted intermediaries.
  • DAOs exist on blockchain frameworks and thus are governed by the laws of code, rather than the laws of the land, unlike a corporation that has to follow the rules of the country it is registered in.

Another significant distinction is the governance structure of each business. A corporation’s standard structure is as follows: shareholders, board of directors, officers, and staff. Except for the election of board members, shareholders are rarely involved in any meaningful way. Shareholders are protected by board members, who make decisions on their behalf and verify that officers are doing their duties. A DAO, on the other hand, is supposed to be run by its investors directly.

In order to better represent a fully operating DAO, the following elements are required: A set of rules under which the organization will operate, as well as funding in the form of tokens that the organization can use to reward members for particular acts and to grant voting rights for creating the operating rules. Also, and perhaps most importantly, is a well-designed and secure framework that allows each investor to customize the company.ย 

DEFINING AIRCASH DAO-ORIENTED PRINCIPLES

AirCash is a landing application of AIR ecology, and it is also the most important thing at present. AirCash is the first and largest decentralized OTC platform in the galaxy. With AirCash you can Buy and sell crypto with fiat money in a decentralized way.

For AirCash to maintain a user-friendly platform, as a DAO-Driven approach, AirCash unlocks the following benefits: AirCash is easy to use with no Identity verification required which also includes no KYC requirements, alongside creation of accounts. Also, no personal information anymore, security & privacy; to put clients and traders in a secure atmosphere, AirCash makes use of the P2P mechanism in trading and no one knows the details of your trading except yourself. Decentralization and DAO; Searching for a better environment for the operations of AirCash, all trading takes place on the blockchain and by doing so, AirCash has built a DAO for decentralized governance.ย 

HOW CLIENTS COLLABORATE IN AIRCASH DAO-DRIVEN MECHANISM

As AirCash plans to be at the forefront of shaking the world with its protocols, AirCash has planned its mechanism in a threefold staging as stated on the AirCash.finance documents which include:ย 

Merchant

  • What is the merchant mechanism?
  • The merchant is the Liquidity maker of the AirCash system. Only the AirCash merchant has the right to post their own Ads for buy and sell.

Why a merchant?

  • Being a merchant is profitable.
  • You will earn huge profits from every buy and sell transaction.
  • How to be a merchant?
  • You will be a merchant automatically after a mortgage of more than 10 billion AIR.

Witness

  • What is the Witness mechanism?
  • The witness is the judge of the AirCash system.ย 
  • When there is an appeal, the Witnesses will deal with it. They will protect the trustworthy traders and punish the scammers.

Why Witness?

  • The witness is the trust of the system.
  • If the Witness is unprejudiced and trustworthy, more and more users will join us. Being an unprejudiced witness is profitable. An unprejudiced witness will earn 10 million AIR after dealing with one appeal. How to be a qualified Witness? You will be a witness automatically after a mortgage of more than 100 billion AIR.

Congress

  • Congress is the final judge of the AirCash system.ย 
  • If someone is not satisfied with the witness, congress will join to make a final judgment. Congress will protect trustworthy traders and unprejudiced Witnesses and punish the scammers.

Why join AirCash Congress?ย 

  • AirCash Congress is the final trust of the system.
  • Congress means the final trust of AirCash.
  • Trust Congress means to trust the AirCash product, and more and more users will join us. Not trusting Congress means not trusting the AirCash product, and more and more users will abandon us.ย 

Benefits of being an Unprejudiced Congress member

  • Being an unprejudiced congress member is profitable. An unprejudiced Congress member will earn 100 million AIR after dealing with one appeal.

How to join the Congress?

  • There will be no more than 5 Congress members. Every Congress member needs a mortgage of more than 1 trillion AIR.

Phase 1: Volunteer Congress

  • The 5 members of the first congress were directly designated by the Community Volunteers.

Phase 2: DAO Congress

  • When the DAO system is finished, we will start the Congress election.
  • Elections will be held every 6 months, and 5 new members of congress will be elected.
  • Futuristic plans and articles by AirCash:
  • How to use AirCash๏ผŸ
  • Create a Wallet.
  • Connect Your Wallet to AirCash.
  • Buy and sell crypto with fiat money in your wallet.

Where to find AirCash and AirCoin Labs :

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