How the Exotix DAO Works
What is a DAO?
A DAO (Decentralized Autonomous Organization) is a blockchain-based community where decisions are made collectively by token holders, not a central authority. DAOs use smart contracts to automate governance, voting, and treasury management, ensuring transparency and fairness.
How Exotix DAO Blends Real-World Assets with Crypto
Exotix is pioneering the use of a DAO to govern real-world luxury and exotic cars. The DAO raises funds through token sales, and the treasury is used to purchase vehicles, which are legally owned by a trust. Token holders propose and vote on which cars to acquire, how to manage the fleet, and how to allocate usage and rental opportunities. This model brings real-world assets on-chain, giving the community direct influence over tangible, valuable assets.
Governance & Proposals
- Propose: Any token holder can submit a proposal (e.g., buy a new car, host an event, change a policy).
- Vote: Token holders vote on proposals. Each token typically equals one vote, but the system can be customized for fairness.
- Execute: If a proposal passes, the DAO's smart contracts or trusted agents execute the decision (e.g., release funds to buy a car).
Legal Trust Structure
To ensure legal compliance, all cars are owned by a legal trust. The trust acts on behalf of the DAO, holding the vehicles and executing the community's decisions. This structure protects members from direct liability and ensures the DAO's decisions are enforceable in the real world.
Why This is a Powerful Use Case
Blending real-world assets with crypto unlocks new possibilities:
- Global, borderless access to luxury and exotic car experiences
- Transparent, community-driven management of valuable assets
- Programmable rewards, access, and incentives for members
- Lower barriers to participation in exclusive asset classes
- On-chain proof of governance and usage rights
Example: How a Car is Added to the Fleet
- A member proposes the purchase of a new Ferrari for the fleet.
- The proposal is discussed and refined by the community.
- Token holders vote. If the proposal passes, funds are released from the DAO treasury.
- The trust purchases the car and adds it to the Exotix fleet.
- Members can now access, rent, or experience the new car based on DAO rules.
Why Solana & Realms?
Exotix is built on Solana for its speed, low fees, and robust security. We use the Realms governance framework, the leading DAO platform on Solana, to manage proposals, voting, and treasury actions. This ensures that all governance is transparent, on-chain, and accessible to all members, empowering the community to make decisions efficiently and securely.