Borg DAO To Boost Dapp Creation on Ethereum Classic
Because development is still young, Dapps are not yet being built on Ethereum Classic. At least, none have been announced.
While Ethereum Classic could survive solely on the currency itself, the whole purpose of the platform is to create decentralized applications and smart contracts. Something the Ethereum blockchain has been doing for the past year. These special features are what caught the interest of developers and investors.
If Ethereum Classic cannot develop these applications, it will not have a chance at surviving. That is until Borg DAO. This organization plans to accelerate development on Ethereum Classic by motivating developers to add their Dapps to the ETC blockchain. These Dapps will be integrated into the Borg DAO.
“Integrated DApps will automatically send their revenue to a buy&burn contract that purchases BRG and burns (destroys) them, thus continuously decreasing the supply of BRG,” as stated on their site.
BRG (Borg DAO tokens) are similar to an Ethereum token on the ETC blockchain. A crowdsale is soon to launch for future investors. Tokens holders will not only receive tokens, but also gain approximately 60 percent of the revenue of every Dapp integrated into the Borg DAO. This idea is meant to create a stronger relationship between the developers and the investors.
“While developers are financially incentivized to deploy DApps on Ethereum Classic and to integrate them into the Borg DAO payment structure, investors will benefit from the revenue these DApps produce,” the company writes in a recent blog.
Borg DAO has listed the type of Dapps they hope will join the Ethereum Classic blockchain. They do not discriminate, but instead fully welcome developers who have already pledged “100% ETH”.