Time for a vibe check...

We like to call ourselves a roots DAO, meaning that our vision is to get to the core of what a DAO is supposed to be. Voting and ownership rights are the keys to a strong DAO, and Pantless DAO vibes differently in those areas than many other organizations that call themselves “DAOs”.

Voting

Pantless DAO aims to be a DAO in the true sense, and as such, all of its primary decision making lies in the hands of its members.

Despite the popularity of DAOs in the crypto space, roots DAOs that are entirely controlled by their members are uncommon. If an organization only allows you to vote on a narrow range of issues, such as which NFTs the organization buys, that is not a roots DAO. If an organization is run by a central authority that dictates most of its operational rules, that is not a roots DAO.

Ownership

Pantless DAO membership constitutes ownership of the DAO’s vault and treasury. If you hold one of our member medallions, you have a proportional claim to the DAO’s assets, full stop.

Many "DAOs" attach no ownership rights to their membership NFTs. Instead, they make you stake your NFT to receive tiny amounts of ERC-20 tokens ($TOKEN) that represent ownership. They've worked it out so that it would take years of staking to gain any appreciable ownership rights over their assets. The founders retain virtually complete control, and if the organization were to fail, they could walk away with everything.

Utility Tokens

“DAOs” often suggest that you burn whatever ownership tokens ($TOKEN) you gain from staking your membership NFT, calling this “utility”. We've seen "DAOs" that let you burn for access to VIP Discord channels, special merch, or 1 on 1 conversations with the founders. All this does is consolidate ownership of the DAOs treasury and holdings under the founding team. You burn your tokens, and theirs become more valuable and carry a higher ownership percentage.

Pantless DAO has no burn function. No benefits you might gain from membership (airdrops, discord access, etc.) require you to give up your ownership rights in exchange.