CannaDAO has launched the world’s first decentralized, member-driven platform for cannabis cultivation and operations, Bankless Times learned in a press release.
The launch of DAO will take place on April 20, 2022 and will be powered by the Aurora cross-chain bridge over the NEAR protocol. The community can participate and earn rewards through real operations within the cannabis industry.
Project contributors anticipate a total value locked (TVL) of $100 million in as little as 6 months, but a year and a half at most. They are former Changelly CEO and serial entrepreneur Eric Benz and Jon Matonis, founding director of the Bitcoin Foundation, whose former roles include VISA International, Verisign, Sumitomo Bank and Hushmail.
Another contributor is Nicholas Gregory, CEO of CommerceBlock. He is a cryptocurrency entrepreneur, software engineer, and authority on digital assets who currently holds senior positions at several Wall Street investment banks.
The community can now disrupt, destigmatize and decentralize a trillion dollar industry. The days of targeting stoner culture are over and the time has come to redefine what cannabis means and represents. The future of finance is green.
CannaFarm will launch on March 7 on Aurora with a series of NFT releases and P2E play to attract users. The DAO’s native $CANNA token will give the community an important role in governance.
It will be available on Ref.finance with the launch of the DAO and allow community members to participate in cultivation operations by reaping returns through token staking, propose cannabis cultivation opportunities, and vote on submitted proposals, including proposals related to funding.
Three main components of the project
The components of the CannaDAO project are CannaGuild, Collective DAO Governance, Cannabis Crops and Enterprises for Decentralized Finance and Real-World Yield Farming, and Cannaverse. Cannaverse is a metaverse with games, NFTs, and more.
Fierce legal battles over cannabis rights have resulted in significant breakthroughs and increased tolerance around the world. But the vast majority of the world is still excluded from the benefits of the legal cannabis industry, whether consumers, producers or businesses. CannaDAO is removing barriers for so many people who want to participate in this booming economy while having a strong social impact.
CannaDAO provides unprecedented opportunity and leverage to guide the future of cannabis, including lobbying political establishments, conducting educational programs, funding scientific researchers, acquiring real grow operations, creating treasury community to fund different businesses, and more.