DAO Framework Announcement Made Tezos Surge By 20%

The new DAO framework announcement as well as the Grayscale rumors, made the Tezos price surge by 20% as we can see in today’s XTZ price news.

The New York-based company TQ Tezos, announced Homebase which is a new project that allows Tezos users to set up an to interact with decentralized autonomous organizations and to establish a new community governance structure so thanks to the new DAO framework, XTZ increased by 20%. The price of the coin reacted positively to the news and surged by 20% to a price of $3.37 according to the CoinGecko data. As the name suggested, DAOs allow various decentralized project users to take part in the process of decision making and to vote for new proposals.

According to the announcement, Homebase is built on a new smart contract framework dubbed BaseDAO which will allow users to create and to finetune DAOs that will govern resources or rules:

 “A proposal executed by a BaseDAO can be as simple as transferring some funds to an address or, like Tezos, as complex as updating the DAO to an entirely new set of rules.”

A template called TreasuryDAO allows the communities to manage treasuries while the Registry enables governance of arbitrary smart contracts as TQ Tezos explained:

 “Initially, Homebase will support the core behavior requested by users and the community: parameter selection (e.g. similar to Compound) and treasury management DAOs. Over the coming weeks and months, we’ll be enhancing and extending these templates for new exciting applications such as fractional ownership of NFTs and DAOs for simple off-chain vote signaling like Snapshot.”

Tezos’ upgrade “Delphi” went live in November and allowed to speed up the transactions as well as to lower the fees. Tezos developers are now working on the next upgrade named “Edo” which will introduce privacy features to the blockchain. In addition to the DAO announcement, the rumors were circulating about a new Grayscale Trust for Tezos. Grayscale Investments is the biggest crypto asset manager and investment platform and holds over $25.5 billion worth of cryptocurrencies in nine trusts. The products are some of the only regulated crypto-offerings that are trading on the public markets in the US.

We are excited to announce the Homebase project.

Homebase will enable anyone to launch DAOs on #Tezos in a few clicks based on a smart contract framework called BaseDAO.

Learn more: https://t.co/HNA5H5uHw0 pic.twitter.com/cCs76KLGzd

— TQ Tezos (@TQTezos) January 21, 2021

The Tezos trust will work in a similar manner as Grayscale will hold a fixed amount of XTZ per share and the investors will be able to buy it via a regulated OTC broker.