We are proud to announce SpiderDAO (SPDR) as an addition to our portfolio.
SpiderDAO innovates the DAO concept by introducing a dual-governance model which bundles together hardware and software tools with on-chain elements, providing a “whale-resistant” governance solution.
SpiderDAO is underpinned by the Polkadot consensus mechanism and will utilize a network of hardware routers deployed by DAO participants as a “ticket” for election voting.
**Hardware-enabled DAO voting process**
To qualify for a vote in the SpiderDAO, the participant must have a compatible Hardware Router connected to the Spider Virtual Private Network with SPDR tokens staked. One SpiderConnect router equates to one vote with safeguards in place to ensure hoarding of hardware devices is instantaneously detected by the network.
**Whale Resistant Dual-Governance Model**
SpiderDAO transfers the voting eligibility rights from solely the token to a dual off-chain — on-chain mechanism. This makes it more challenging for large entities to disproportionately influence the elections without incurring significant costs.
**Access to decentralized VPN services**
SpiderDAO will first be integrated with SpiderVPN who currently have 6,400+ users and are active 18+ countries, providing owners of the SpiderConnect Routers with access to a decentralized VPN service (dVPN) granting full online anonymity and a host of premium features.
The SpiderVault will be created to accumulate 2% of Crypto proceeds generated by services utilizing the SpiderDAO, the first of which will be SpiderVPN. These funds will be used for continuous improvement of the Spider ecosystem, with eligible DAO participants able to submit and vote on proposals to fund successful projects.
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