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friesDAO Bags 1.3M USDC in First 48 hours of Ongoing Whitelist Sale -Breaking

by Mike Robinson

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FriesDAO Bags 1.33M USDC In the First 48 Hours of Whitelist Sale
  • FriesDAO is currently testing the ability of open communities to manage fast-food enterprises in the real world.
  • This company is aiming to bring real assets together into DeFi.
  • FriesDAO claimed that in just two days, it raised USDC 1.3 Million to fund its charity treasury.

CoinQuora received a document indicating that friesDAO was actively exploring the possibility of an open community running a real-world fast food restaurant.

The program began on the 2nd of July. FriesDAO says it has raised USDC 1.3million since the beginning. It asked community members to take part in DAO, allocating their donations for a chance to win a token.

The friesDAO Open Community Experiment Initiative is designed to connect real assets to DeFi and On-Chain platforms. It also believes that traditional businesses can accommodate blockchain-based governance.

friesDAO stated that the fund will be used to expand its crypto portfolio as well as embrace new technology.

Top personalities including Drizly Co-Founder, Brett Beller, Launch Code Capital partner, and crypto veteran Bill “Swo” Lee, were the key advisors who organized the community. Rowan Stone, Horizen Labs Advisor and a great advisor for the DAO.

Lee stated,

DAOs that have strong and intelligent communities can power the future of businesses. But only if these DAOs set clear goals and operate with a flexible governance system. FriesDAO was founded as a research and experiment group. It aims to be the first community of crypto users to manage real retail stores in a scalable, profitable manner.

The community is also helped by the franchising experts Olivier Meyers and Jean-Clauder Meyer who oversee its general wellbeing.

DAO governance allows for the use of operating profits to fund store improvement or expansion, even though these are not owned by the contract organisation. The DAO can also build on-chain protocols to be able to access data about store operations, from logistics to sales, to improve efficiency and integration into other DeFi protocols.

Establishing a gold standard operational framework with the stores to benefit users in a decentralized manner is friesDAO’s ultimate goal. This community committed to publishing yearly reports that are based on their performance, findings and experiences in franchising.

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