Welcome to the Frequently Asked Questions for the RootstockCollective.
Q: If I stake by RIF can I unstake it at any point?
A: Yes you can. In the future if there are any incentives or rewards linked to your stake those could be impacted but you will always be able to unstake should you need to.
Q:What is a DAO and how does it work?
A: A DAO (Decentralized Autonomous Organization) is a blockchain-based entity where decisions are made collectively by its members, rather than being controlled by a central authority. Members of the DAO hold tokens that represent voting power, allowing them to participate in governance decisions like fund allocation, project proposals, and more. Everything is managed through smart contracts, which ensure transparency and automation. In the initial stages of the DAO it is normal to pass through a period of bootstrapping where extra guardrails are in place and some decision making is supported by a Foundation.
Q: How does RootstockCollective differ from other DAOs?
A: RootstockCollective stands out by directly aligning with the Bitcoin ecosystem through Rootstock, the first and longest-lasting Bitcoin sidechain. It uses a new ERC20 token wrapped around RIF for governance, ensuring that value is captured not just by miners and holders, but by builders and contributors to the Rootstock ecosystem.
Additionally, its treasury is organized into sub-treasuries for Grants, Growth, and General purposes, with the goal of fostering sustainable development on the Bitcoin network.
Q: What is the RootstockCollective's primary goal or mission?
A: While the initial focus will be on decentralizing the allocation of grants, the DAO will also enable the realization of value capture for Bitcoin builders. For instance, in the future, builders may be eligible to receive a share of the DAO’s revenues. This will encourage more developers to build great products on Rootstock, increasing transaction activity and revenue for the DAO as well as for the builders themselves.
Q: Starting: How can I join RootstockCollective?
A: To join RootstockCollective, you will need to have RIF tokens, and then stake them into stRIF governance tokens. These stRIF tokens give you voting rights and participation in the DAO’s governance and decision-making process.