LeagueDAO is using the “DAO First” governance model, which means it has never been, and never will be, a traditional company. Instead, LeagueDAO founders decided to launch the project as a DAO and split the governance between the core team. This DAO is called the LaunchDAO.
It was created using Aragon DAO Company Template which uses transferable tokens to represent ownership stake. Decisions are made based on stake-weighted voting with the LGVOTE token.
The LaunchDAO is a temporary DAO that consisted of the project founders, seeders and advisors for building the initial version of the protocol.
The funds from the seeders and the initial supply of the $LEAG token will be kept in the Launch DAO treasury.
The final LeagueDAO is the governance DAO where the community can vote with their $LEAG tokens. The DAO is the core component of the LeagueDAO platform as it enables decentralized decision making to enforce actions in the interest of the community.