HoW NFTs: Membership in the DAO
Last updated
Last updated
HoW NFTs represent a global community of like-minded persons (and institutions) with a shared value system, ethos and digital identity.
When considering whether to join the HoW Community, on , , or other community platforms, the following words and feelings should resonate with you:
Philanthropic Endeavors - HoW supports innovative projects in the web3 space that are aligned with Muslim values through grants.
Innovation - the HoW Treasury will be used to generate Return on Investment () and this RoI will be deployed in the form of , towards projects which are building solutions in the Web 3 ecosystem.
Social Impact - HoW is designed to function as a decentralized endowment and at its essence is the mission of of driving development in the Web 3 ecosystem.
Shariah Principles - HoW will only select projects which are compliant with shariah principles.
Endowment - HoW will function as an endowment fund.
Continuity - since the DAO treasury will never be depleted, continuity of the DAO is critical. Tradability of NFTs and sound DAO Governance serve to ensure that the prevailing community always democratically controls the treasury.
NFTs have utility in the ‘virtual’ crypto ecosystem as well as the real world economy. The quintessential example of a project that uses NFTs to grow and evolve their brand with rewards for NFT holders in the crypto and real worlds, is .
Our approach to classes of NFTs relies on the classes of decisions that will be made within the ambits of the DAO as a .
For example, if we take a grant funding situation, the process includes 3 decision making agents, namely, Contributors, Community and Management. Resulting in the DAO granting voting rights to each class of NFT holders to support decision making and governance in the areas that these agents are responsible for, eg., Grant Funding (contributors & community), (management & community), Protocol changes (management & community), Election of DAO officials (community), Day to Day operations (management) etc.
These classes of decisions are broken down into those made by the following agents:
Contributors
Management
Community
The details of the rights, privileges, responsibilities and other requirements as well as a detailed description of the NFTs held by each of these agents will be discussed in further detail later in this document.