I talk to the creator of DestroyerDAO to better understand the project and their aim to enable people to destroy rekt and (near) worthless tokens in exchange for having a voice in the DestroyerDAO — and by extension broader — crypto community.
Welcome to Ledger Cast, hosted by me, Brian Krogsgard (@ledgerstatus on twitter), and today I'm joined by the creator of DestroyerDAO.
The information in this podcast should not be construed as investment advice, it is purely educational material and you should always do your own research before buying.
In this episode of Ledger Cast, I talk to the creators of DestroyerDAO — an ambitious project aimed at destroying “shitcoins” with… a shitcoin.
If you're not familiar with DAOs (Decentralized Autonomous Organizations) or Proof of Burn, then we dig into these concepts, as well as how they intend to use this project to better the broader crypto community.
Links and notes
- DestroyerDAO website
- @DestroyerDAO on Twitter
- Counterparty Proof-of-Burn blog post
- Sign up using my ref link (I would get more “say” in the DestroyerDAO community).
We talk about the merits of Proof of Burn, DAOs, and potential for DestroyerDAO. It seems like they are looking for traction based off of the meme around burning “shitcoins” but really have a larger aim in helping legitimate projects.
I'm really interested for several reasons. For one, to see if a DAO can work. Second, to see if it can establish the desired incentives to encourage people to actually burn tokens from one project in receipt of DestroyerDAO tokens — when the only stated purpose of those tokens is to have a say in the community.
I enjoyed this conversation and think you may too.
Music: “Oh, the chains” by Joel Madison Blount