The Logical DAO
The purpose of The Logical DAO is to create a stable DEFI based income engine that will help fuel the development, administrative, and marketing needs of all of the projects created by The Logical Dude, LLC.
The DAO, or decentralized autonomous organization, is built on the Polygon blockchain and is currently utilizing 2 different DEFI platforms to manage the treasury.
The first is Polycub by the Leofinance.io team. This is where we will be utilizing the pHBD-USDC yield farm to generate the POLYCUB token. 20% of the rewards on a monthly basis will be staked to create xPOLYCUB which will be held by the DAO to generate more APR. Another 20% will be paid out to holders of the Logical NFTs collection. This farm is funded by the sale and resale of the Logical NFTs. The remaining 60% of the DAO rewards will be used to run the businesses and for payroll.
The second DEFI protocol used is Aave where we supply USDC from sale of the LOGIC token. LOGIC tokens are purchased directly from the DAO for USDC and then put into Aave to lend out and earn interest. This fund can be used as a collateralized credit line for the DAO. Loans can be taken against the our supply and used either for business expenses or to build more liquidity in the pHBD-USDC yield farm to generate more income. Loans are paid back from the xPOLYCUB staking portion of the farming rewards. Once loans are paid back, staking will resume.
Holders of the LOGIC token are able to burn their tokens in the DAO and receive their share of the wallet holdings, which should always be at least worth a dollar when balanced with the supply and the xPOLYCUB in the wallet. Of course the goal is to have more when you cash out due to interest and DAO earnings. So think of the LOGIC token as a sort of savings bond.