Akita DAO

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Their Official site text:

Akita DAO

Socials

​Purpose

The Akita DAO exists to produce products and useful applications that benefit holders of the AKITA tokens. AKITA token holders were the original group to come together and make AKITA a true community-owned token, pushing it to be more than just a meme. The Akita DAO allows its participants to propose new improvements, and  in our governance system using the  to steer the decision-making process.

Governance Procedures

Governance Procedures

Once the community has decided a proposal discussion is ready to be voted on, they should make a proposal in the Proposal Discussion section of the forum.

Any formal proposal must:

receive at least ( 5 ) thumbs up

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be live for ( 5 ) days

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follow this template.

Otherwise, it will not be considered a valid proposal and removed.

Using ​

Once that’s been done, formal voting can take place.

Off-chain voting or "soft voting" - This kind of voting will take place on , a simple voting interface that allows users to sign (no transaction fees). Votes on snapshot are weighted by the number of HACHI delegated to the address used to vote.

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IMPORTANT: For now, Snapshot will be used for final decision making - you can access the Akita DAO Snapshot .

Conflicting Votes

From time to time there may be conflicting proposals, to avoid issues, the 5 day window above can also serve as time for anyone to list their preferred alternative option on the forum. Each proposal on an associate topic will have a [TOPIC] block placed in its title.

After that time, a vote will be put forward including all options available to move forward with. This will ensure that everyone has the ability to express their preferences while keeping decision timelines reasonably short.

Remember, this is a living document and is only meant to act as a starting point for governance. If there’s anything you want to add or anything that’s unclear please suggest it below or even as a separate proposal!

Community Proposal

An AKITA Community Proposal is a format for making decisions about how our community grows. Key points to keep in mind include:

Title - Post each proposal with a clear title around its objective. This will look as follows: [Proposal] - XXXXXX

Ordering - Please do not assign a number to your proposals.  The ordering of the proposal will be assigned by community moderators.

Detail - While we encourage everyone to participate, please try to consider all viewpoints and provide a deep level or detail regarding the thoughts that went into a proposal.

Voting - Not every proposal will be voted on. There is no hard criteria regarding what deems a proposal eligible to be implemented, though a good rule of thumb is the more engagement it has, the more likely it is to be incorporated.

Ethos - The goal of governance is to create a more inclusive and empowering system for all stakeholders. We encourage proposal creators to center their ideas around how a proposal helps AKITA users, partners and team members better interact with one another, and how these changes create a more fluent ecosystem for all those interacting with the protocol.

When you’re ready to submit a proposal, please follow this format to the best of your ability. Proposal Format:

Summary - 2-3 sentences on what the proposal is and what changes are being suggested without going into deep detail.

Abstract - Expanded summary introducing the proposal, what it entails and details around what would change should the proposal be implemented.

Motivation - Describe the motivation behind the proposal, the problem(s) it solves and the value it adds. This is your chance to show why this proposal is necessary, and how the changes would benefit AKITA if implemented.

Specification - Describe the “meat & potatoes” of the proposal. Go into deep detail around the changes that will happen both on a technical and social level. The more detail, the better.

Benefits - Point out core benefits of the proposal implementation and how it will affect the system.

Drawbacks - Highlight any drawbacks from implementing the proposal and points to consider regarding the upgrade.

Vote - Clearly outline what voting “yes” and “no” entails. Please link to Snapshot 35 or include a forum poll directly on the forum to get a temperature check under Setting > Build Poll to vote.

When mapping out a vote, remember the following:

For - Formalizes the community is “for” the details outlined in this proposal including xyz… 

Against - Formalizes the community is “against” the proposal including xyz…

DAO Structure

The Akita DAO will soon formalize its structure by vote. Leadership from within the community is encouraged, and we hope that you consider what time you are able to dedicate to the DAO. This can be in the form of a role that you are nominated for and voted in, being a Steward who takes delegations of votes, or simply showing up to be a part of the discussion and vote on proposals using . 

Potential Roles

Marketing and Awareness

Social Media Management

Influencer Outreach

Creative Design

Operations & Administration 

Community Managers & Moderators (Telegram, Discourse, etc.)

Treasury 

Business Development

Exchange Liason

Advisor

DAP Steward Liaison

Compensation

Higher level roles which provide more value to the DAO may be compensated with HACHI tokens from the Leadership Allocation. Lower level roles may also receive HACHI rewards for completing tasks.

Goals

HACHI is an ERC-20 governance token that allows holders to represent their stake in the Akita Ecosystem as it develops over the coming years. With Gitcoin’s funding stream operational through March 2027, the Akita DAO has a tremendous potential to create a lasting impact on the blockchain financial sector. If you would like to contribute or learn more about the Akita DAO, please join our Discourse (coming soon!) and  communities. The AKITA token Telegram channel is also available for community discussion and networking.

AMA Session

AMA Session hosted by Lona (SMM of StealthEX)

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Lona:

 Here's the first question: How do you get other Crypto influencers in this project? What great features do you have that'll make even non Blockchain believers interested?

Ryan:

 Great starting point here.

With the current team working for the AKITA community since around March 2021, we have built relationships with many influencers and were able to tap into them for the recent launch of trading of HACHI. These tend to be the “OG” group of influencers with wide networks of meme coin traders, so they can bring a lot of eyes to the project, but these traders aren’t always DYOR/DD/reading white papers. It takes a lot of work to then onboard these new people to our community.

My personal opinion is that influencers only go so far in building a long-term, sustainable community. I feel that we need to continue to develop these relationships with influencers with strong, active communities, while simultaneously directing the Akita DAO to develop new products and use-cases for HACHI and AKITA (eg Staking, grants, bounties, etc.)

We also have a strong community that has built out their own social networks in web3, including CryptoTwitter and DeSo. Artists and graphic designers from the community have contributed almost all of the artwork you see today, and many have suggested that they envision the Akita DAO as having a future program which helps creatives by providing grants or other incentives. Other members have relationships with CEXes, DEXes, and other crypto services, and this is the beauty of the DAO - if we all work together, the sum of our abilities far outweighs what we can accomplish with a centralized, siloed structure.

In this AKITA Ecosystem we are working towards, the Akita DAO will develop products to increase value for AKITA holders, and HACHI holders will help steer that development. This is an excellent opportunity for anyone interested in the future of web3 to get in NOW and start contributing, even if it is just by casting a vote.

This is a fantastic question - I’d say first that Akita DAO does not have a specific partner, but aims to partner with its community first and foremost. We believe in collaboration and see partnerships with a variety of projects. We also believe in strong partnerships, and to be honest, this is a difficult thing to find in the web3 and crypto space. Not only did many organizations not make it through this bear market cycle, but many others are not legitimate enterprises. It's incredibly easy for some companies to say they are capable, but many are either misrepresenting themselves or unaware of the skills, workload, and strategy that is required to create something worthwhile.

So - while we remain open to anyone who wants to propose a partnership, our community has instead focused on discussing who they already work with, who they are excited by, and who they TRUST. Many in the Akita DAO have a strong interest in gaming, and this is a very big market with incredible potential for blockchain utilization. We continue to have discussions with a major mobile game studio to try and find a way to fit into their plans, while at the same time beginning discussions with other organizations who are focused on GameFi/web3 gaming. At the same time, we continue to have discussions with platforms like StealhEX (no domain combot!), to find new ways to engage with the wider community of the cryptoeconomy. Other discussions are happening with major DeFi protocols, as well as Layer 1 and Layer 2 blockchains, so that the Akita DAO is known to these major entities, and any opportunities may benefit the DAO and its treasury.

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Lona: 

Great answer!

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One of the factors that makes the platform appealing to many users is its special features. What is AKITA most unique attribute that will help set your project apart from other growing social media platforms?

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Ryan:

 OK, that’s a tough one, naturally. Our website is https://akita.network, but is is undergoing major refresh right now. I want to encourage people to go to our Twitter to learn most about what we are doing: https://twitter.com/akita_network as well as our own TG channel https://t.me/akitatoken

I personally believe that our strongest attribute is that we have an existing, guaranteed funding stream that will take us into Q1 2027. Most organizations do not have funding outside of the launch of their token, and this creates major long-term sustainability problems. With the history of AKITA, our team did not even benefit from having that launch funding, so it was an incredible opportunity to negotiate with the open-source software development DAO known as Gitcoin to establish this funding stream.

I also want to clarify that the token AKITA was launched with the idea of decentralized social media at its core, but in late 2021, it was clear that this undertaking was not only a huge, resource-intensive task, but also driven by people within the community that were no longer present and not contributing. Now, you see the rise of the DeSo blockchain network, supported by Coinbase, or the Lens protocol that is thriving on Ethereum/L2 - these organizations should be leading the charge, and what they are doing now is very exciting and very promising for those who are interested in decentralized social media.

In 2021/2022, I would have said one of our greatest traits was that “AKITA Network is a team of doxxed and publicly known identities.” and this would have meant a lot. However, with the failures of so many projects in 2022 with publicly known people, I don’t think most investors care as much. They want to see that people are thinking long-term, thinking sustainable, and that a project’s community has a substantial and vital role in its success.

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Lona:

 Let's go next: Talking about adoption, what has been your strategies in bridging the gap between web2 and web3 ecosystem?

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Ryan:

 Another great question! Many of us come out of the web2 world, of course, so we are actively bridging that gap just by continuing to be active, no matter bear or bull, and contributing whatever time we can towards building the Akita DAO. While web3 is very focused on community, it is often lacking the organization structure and strategy that web2 has built over many years. I’ve always thought this was the greatest weakness of web3, and this is why we are seeing major web2 companies entering the space during the bear market cycle when pre-existing web3 companies weren’t able to succeed. There needs to be a hybrid that transitions us into that real web3 identity.

A bit of background on myself - I come from a background of live music production (Classical music primarily) but also many years working at Amazon. There is definitely a point where the web2 world needs what the web3 is offering, and this is why I continue to stay in the space.

So, given all of the challenges to be successful - this is why it was important to secure funding, establish a plan for creating the Akita DAO, and then launch it in a way where it could grow organically, but also grow with guidance. This guidance, or governance, is very important! As we continue to develop for the AKITA and HACHI token, there will be dApps and services that utilize these tokens and/or provide other benefits to the community of holders. This will all be carried out by the Akita DAO through its governance procedure, and we encourage anyone to submit proposals and participate in voting once the final procedures are in place.

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Lona:

 Awesome! In the long run, why should we trust and follow you and AKITA project? How do you raise awareness and elimination of the doubts of investors / partners / customers?

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Ryan:

 My first answer to that, somewhat cheeky, but also honestly: Don’t believe 100% anything tells you in a chat room!

Security and trust is huge for us, we espouse it all the time. DYOR, DD, not your keys not your coins, etc.

However, the blockchain space is meant to be trustless, and we collectively believe that’s what we should be working towards. Transparency in communication is one of the fundamental aspects of establishing trust.

The Akita DAO was formed after many long discussions in our Telegram, over many months and now years. February 1 was our 2nd birthday!

So, to establish the trust, we have to show progress. Securing funding, establishing the SAFE Multisig wallet that serves as our treasury, and then launching HACHI as our governance token — these are things that we said we would do, and now that we’ve done them, we must continue going forward.

When our proposals/voting system is live and active, this is when HACHI holders will be able to exercise their own power, give their voice to the discussion of how the AKITA Ecosystem is develop over the coming years. What are people seeking as value? Value is not just the price of a token today, but moreso - what is the reason why it should continue to exist in the future? What is it being used for, why do people want to HODL, what attracts new users to expand our network?

Working with known entities and trusted entities also reinforces that trust with our community.

Gitcoin is one of the most influential communities of Ethereum developers. Avalanche is a blockchain network that has incredible potential, recently partnering with Amazon Web Services. We will continue to target these opportunities so that we are building alongside other trustworthy organizations.

And lastly — I want to be clear that this is a project that was created for investors BY investors. Until the existence of funding for our DAO, it was entirely self-funded. Most of us have day jobs, families, and lives to attend to. Our collective effort is what will bring success to all of us, together, for the future.

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Lona:

 Interesting! What is the future plans and vision of the Akita DAO and how it aims to remain relevant and competitive in an ever-evolving blockchain and decentralized finance landscape?

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Ryan:

 First answer - listen to the community! We expect everyone participating within the Akita DAO is also paying attention to the rest of the web3 ecosystem and they are doing their own strategization of how other tools, dApps, or protocols might benefit HACHI holders, who are simultaneously focused on benefiting AKITA holders.

We have our plans to develop a staking product, this was always an expectation of the community. But, it must be sustainable — no crazy 100000% yields or other bogus hype that ends up destroying projects. It must also be secure and developed by trustworthy, experienced developers.

We currently have liquidity on Avalanche, that should be utilized as well. The DAO has already discussed whether it would be for GameFi, DeFi, etc, but it must come to a collective decision. Those that want to guide this decision, that’s where holding HACHI comes into play. HACHI holders hold both the token as well as the voice of the Akita DAO.

HACHI is on Ethereum — mainnet is not necessarily the best place for it to thrive, but working with developers and other projects focused on Layer 2 such as Arbitrum or Optimism — that will be where we will thrive, be competitive, and remain versatile to changing market conditions and the continued evolution of the technology.

The Gaming studio I mentioned previously, if that works out, you can guarantee they won’t be on a mainnet Layer 1 - they are targeting Layer 2 such as IMX or other NFT/gaming specific protocols.

So - again, we are sharing ideas amongst our community - what excites us, what shows promise, what has been successful, etc. It should not be myself, or me and one other person, who makes these decisions. I am biased and have my own beliefs and interests, but that does not mean that the Akita DAO shares these beliefs and interests.

Let the HACHI holders steer the Akita DAO’s actions!

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Lona:

 And here's the last question! How does the HACHI token relate to the AKITA network and what makes it unique as your governance currency?

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Ryan:

 Perfect question to whoever asked!

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So, HACHI is the governance token, first and foremost. Holding HACHI is what gives you the power to help guide how the Akita DAO uses its treasury. I’ll say again that our current funding from Gitcoin is through a Sablier Finance stream that runs into Q1 2027. Very few other DAOs have this long-term horizon.

Sablier for those who do not know, is a very secure token-streaming service so that we receive a steady amount of AKITA tokens every day. This is the initial basis of our funding, and then we must use this funding to establish additional projects and revenue streams.

Using this funding, we were able to build our treasury up and create the initial liquidity for launching HACHI on Uniswap. We also had operational expenses, such as paying developers, establishing marketing funds, and also recognizing those within our community who were showing leadership by compensating with them with what we could.

We were all here for 2022 — we know how its going now! So, while we had to cut some costs, many of those leaders had to refuse payments for the sake of launching HACHI with adequate liquidity, with a secure vesting contract, etc.

So - where am I going with all this? The Akita DAO treasury has been growing, its being used for launching HACHI, and now it will continue to grow even without HACHI. But, we now have HACHI that provides us a way for the community to guide the Akita DAO treasury and its development of the AKITA Ecosystem.

Every swap fee of HACHI for DEX trades on Uniswap now goes back to the Akita DAO treasury.

Every new revenue stream that the Akita DAO develops means continued growth of the Akita Ecosystem and less reliance on our initial Gitcoin funding source.

The more AKITA that the Akita DAO can continue to hold and build up in its treasury, the more that HACHI can be utilized to build out the ecosystem, which means more revenue streams that stretch our treasury’s HACHI holdings even further.

We continue to work with Etherscan, CoinGecko, CoinMarketCap, etc, etc — anywhere that we can make sure they have all of the Akita DAO’s information and history shown accurately.

My last thought about what makes HACHI unique? Again…I’m a business-oriented person, so I go back to the funding. Most DAO’s require that intial funding to be bootstrapped by someone, and in this case, it comes from our native AKITA token, which the community now truly owns.

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Lona:

 Thank you so much for all the answers!

HACHI (ERC-20)

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Introducing ​

The ERC-20 governance token HACHI is the governance token utilized by the holders of the digital currency , also known as Akita Inu.

The contract address for HACHI is  — please triple check that you are interacting with the proper token! Buy on .

Formation of the Akita DAO

​ allows holders to represent their voice in the Akita DAO, a distributed-leadership community focused on building a long-term ecosystem for its members. The Akita DAO will use its current funding stream from Gitcoin (through Q1 2027) and any future revenue streams to support the development and growth of the ecosystem. By connecting to , HACHI holders can vote on proposals that will steer this ecosystem development process. 

HACHI will also be in the future to buy AKITA.

Tokenomics

HACHI is a fully compliant ERC-20 token, with a maximum supply of 100,000,000 tokens. Transfers, selling, or buying of HACHI token does not incur any fee or “tax” on the transaction.

The maximum supply of HACHI is divided into five different allocations: a community claim of 10,000,000 HACHI, an ecosystem awareness allocation of 10,000,000 HACHI, a leadership allocation of 10,000,000 HACHI, an ecosystem development allocation of 35,000,000 HACHI, and 35,000,000 HACHI tokens earmarked for liquidity.

VB

The original developers who launched AKITA are no longer part of the project. Previously, you read that they "rug-pulled" the AKITA holding community and also used a marketing gimmick to attract investors by saying that 50% of the total supply was sent to Vitalik Buterin's wallet, seen on the blockchain scanner as Vb. 

While many crypto veterans could spot this gimmick a mile away and saw the "social experiment" aspect of AKITA as very interesting, many newcomers to the space often had the misconception that these tokens were burned. Because of the old "Akita Token" website still living on the web, when new investors are DYOR & DD, they often come with the same questions. In reality, Vitalik owned these tokens, they were not burned, and he had even received an additional 69,420 from unknown sources. Those who are familiar with 51% attacks understand how dangerous and foolish it was to put these tokens in Vb's wallet.

On May 12, 2021 at 17:47 UTC, Vitalik Buterin transferred all of his AKITA tokens to the multisig treasury of the Gitcoin DAO, an organization dedicated to developing public goods products. Once Gitcoin had posession of those tokens, they assumed ownership of those tokens.

Gitcoin

Gitcoin is a platform where coders and developers can get paid to work on open-source software in a wide variety of programming languages. Users can also submit their own project ideas to the Gitcoin platform in order to crowdsource funding from contributing donors. For more information on Gitcoin, please visit their platform .

With the AKITA tokens given to them by Vitalik Buterin, Gitcoin has administered two rounds of Liquidity Bootstrapping Pools (LBPs) on the Balancer platform. This is an automated, algorithmically driven process of both buying and selling AKITA tokens over a long period of time in order to have minimal affect on the price of AKITA while ultimately converting it to ETH. 

To date, over 4,038 ETH has been raised for Public Goods via AKITA. 

The seed program for these LBPs was called Akita Fire Rescue, which gave a limited discount on a pool of AKITA. With the ETH raised from Akita Fire Rescue, the first LBP was funded in a 95% AKITA and 5% ETH ratio, which  152.2 ETH raised for Public Goods. The second LBP was funded with 100 ETH and 23.9 Trillion AKITA, ran for 1 year, and  3,912.98 ETH raised for Public Goods. 

When the final LBP has been launched for Gitcoin's remaining holdings of 12.2 Trillion AKITA, the details will be posted here.