Utilities of Schnoodle
What are Schnoodle's use cases?
Ultimately, we intend Schnoodle to have many use cases over time, and for the direction of this to be determined by the community (as a DAO) with guidance from the team. But some of our existing utility concepts are covered below.
Not a word you hear every day, but Schnoodle is also a coin with a conscience. as part of Schnoodle's benevolent approach to crypto, a small percentage of all transactions are donated to a good cause agreed on by the community. This takes place automatically within the smart contract, and is known as the eleemosynary functionality.
Schnoodle includes an eleemosynary fund as part of its encoding. This can be a charity, but also any worthy cause that the community feels passionate towards. Perhaps carbon offsetting to advocate clean energy usage in blockchain, especially proof-of-work (PoW) blockchains such as Ethereum. Or, humanitarian causes such as the unbanked of the world due to corrupt governments or poor economies.
What if I don't feel charitable, or don't agree with the beneficiary?
Well, charity is certainly a deep topic awash with philosophical and political nuances, and not everyone wants to give up a small part of their wealth for benevolent causes; and some may even wish to choose who they donate to.
Part of the ideology behind contributing to a benevolent cause is that people will like it. This will in principle have the effect of promulgating the benefactor (in this case, Schnoodle) further, thereby attracting more holders and driving the price up further. This benefits both the eleemosynary fund and holders alike which is of course a win-win situation for everybody! In fact, our marketing campaigns will be largely based around this, and will include promoters that are motivated by such altruistic innovations.
And the beneficiary of the eleemosynary fund is by no means static. This is determined by the community as part of Schnoodle's timelocked governance feature.
Some of the Foundations of Schnoodle will be available as Software as a Service (SaaS) for other DAO projects to use. The inception of this, and how it will integrate into SNOOD, is yet to be determined, but the intention is to allow creation of modular DAOs based on the underlying technology that Schnoodle is based on. These will be the SaaS systems that other DAOs will be able to utilise:
- Governance as a Service (GaaS)
- Bridge as a Service (BaaS)
- Farming as a Service (FaaS)
- NFT as a Service (NaaS)
More on this to follow.