What is FWB - Friends with benefits DAO?
FWB is no longer an argued discussion, at least not in the web3 space. Here it has its own set of requirement , and still, there's no-strings-attached.
$FWB is a new social community token that brings collective culture and technology together. It's a self-organized, creative, and internet native community that enshrines human values at its core and creates amazing things cooperatively.
Friends with Benefits is a community of artists, creators, thinkers, and people who are leading web3 transformation. FWB is a bridge between artists / creators and the technology that drives traction and fosters collective mission. FWB token plays a very important role in this economy, creates a culture where everyone involved has a shared skin in the game. Paving the path for token-permissioned communities while maintaining the quality along the way.
A community-driven DAO
The FWB DAO invites everyone willing to accept the below principles and the code of conduct.
- SHARED IDENTITIES - FWB encourages every member to introduce themselves to the community. It leads to better communication and identification of unique skills and talents that the member brings to the community.
- DIVERSITY - FWB welcomes diversity, every member from any background is respected and treated equally. They are open to all kinds of discussion that brings a fruitful discourse.
- INCLUSION - FWB community has great high-profile members that are also subject matter experts. Still, the best thing that community does is treat everyone the same, whether a veteran or a newbie.
- RESPONSIBILITY - The community is mainly self-policed; That means the moderators will not monitor every message, but if you are found guilty, you can be penalized. Hence try to maintain the community decorum and if there's still something unsolved, help yourself with DMs.
- PEACE OF MIND - Members can feel confident and comfortable with the FWB community. Here you can experience serious discussions and actionable insights, although one can share their personal experiences too. It's a matter of the fact that the community members are obliged to follow the set of protocols and not do uneven things that disturb the peaceful environment of the FWB community.
These principles act as the base of the community. The more they are adopted and enacted, the more the community grows bigger, stronger, and better.
How does FWB work?
FWB has a participation framework which includes - Governance, Board, Team Leads & Contributors
- Governance - It incorporates the $FWB token holders who vote for the changes in the DAO and engage with the governance through forums.
- Board - The Board consists of mixed entities like team members, advisors, and community members who focus on building effective strategies for community building. The token holdings incentivize the advisors.
- Team Leads - Team leaders are those members who manage the team of contributors. They are selected on basis of their previous experience. They approve funds for bounties or rewards, set key priorities, and collaborative success.
- Contributors -They are the members holding the $FWB token. Contributors power the team through active participation and are rewarded based on their contribution level.
How does these team operate?
Contributors get clear calls to action to join the team based on their skill sets and interests. Team leaders arrange weekly one-on-one meetings with board advisors to discuss challenges, priorities, and KPIs. Team leaders and board members report to governance through monthly town hall meetings with progressive updates and community discourse.
Each team gets a budget based on the proposals. Budget depends on the value that is generated. Every team leader receives a fixed salary while the contributors share the remaining funds based on their contribution level. They are compensated based on the value they add to the team. Team leaders propose new teams whenever required, and the town hall meeting decides to grant permission or not. The success of every team is measured by the active cooperation of each team member that leads towards the communities growth.
The FWB token
The $FWB token is the gateway to the FWB DAO which connects you with like-minded people united for a collective cause.
$FWB token has a supply of 1M (previously 10M) & can't be minted further. It was called $FWB classic token, now replaced with $FWB pro token. 59% of the total tokens are in circulation, 35.6% is reserved for the community treasury, 19.9% is for the team and 4.4% for the liquidity lords.
Many artists drive an entertaining culture with so little in return. Web3 creates incentivization mechanism for the artist leveraging tech & networks. Web3 will be a port to a culturally influential class led by decentralized systems and eliminate the authority that lies in the hands of limited people. In this model, strangers from the Internet can come together and redefine the way they create and fund culture.
With FWB, It will be possible to open the doors to immersive experiences and unique products that will navigate us to the next level of human interactions and connections.
Check out all the DAOs listed on The Dapp List.
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