Even as the vast majority of the world is excluded from the benefits of the legal cannabis industry despite significant legal breakthroughs in the past decades CannaDAO today announced the launch of its platform for cannabis growing and operations in a bid to disrupt, destigmatize and decentralize a trillion-dollar industry.
"The
community can now disrupt, destigmatize and decentralize a
trillion-dollar industry," said Eric Benz, CannaDAO Contributor and
former CEO of Changelly, and serial entrepreneur. "The days of targeting
stoner culture are no longer and the time to redefine what cannabis
means and represents is now. The future of finance is green"
.
The
DAO launch is slated for April 20 and will be powered by the Aurora
cross-chain bridge running on the NEAR protocol. The DAO will allow the
community to participate and earn rewards from real-world operations
within the cannabis industry.
Contributors
to the project are projecting a $100M Total Value Locked (TVL) in the
next 6 to 18 months. In addition to Eric Benz, they include Jon Matonis,
Founding Director at the Bitcoin Foundation, and Nicholas Gregory, CEO
of CommerceBlock.
Following long struggles for cannabis rights, both in recreational and medical use,
Significant
breakthroughs resulted in increased tolerance and legalization across
the world, however, even in countries where the cannabis industry is
legal, stringent rules, high costs make it difficult to participate in
growing operations.
“The
hard-fought legal battles around cannabis rights have resulted in
significant breakthroughs and increased tolerance around the world,”
Benz said. “But the vast majority of the world is still excluded from
the benefits of the legal cannabis industry, whether consumers, growers,
or businesses. CannaDAO removes the hurdles for so many who want to
participate in this blooming economy while at the same time having a
strong social impact.”
With
a series of NFT releases as well as a P2E game, CannaFarm will launch
on March 7 on Aurora. Users will be able to participate in a truly
decentralized and gamified governance model. The DAO will drop on April
20 with the governance token ($CANNA) available on Ref.finance.
The
governance token $CANNA plays a key role as a utility token allowing
members of the CannaDAO to participate in project governance, including
the proposal of new cannabis growing opportunities, voting on submitted
proposals and funding approvals, and participating in grow operations
harvesting yield through token staking. $CANNA will include governance
utility interacting within the CannaDAO ecosystem with proposal
submissions, voting mechanisms, membership with prestige levels, payment
modules for cannabis-related services on and off-chain, transaction
visibility, and accountability.
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