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    Home»Crypto»PageDAO Reimagining the Library of Alexandria
    PageDAO
    Crypto

    PageDAO Reimagining the Library of Alexandria

    May 3, 2024No Comments4 Mins Read
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    Dylan Daniel, founder of PageDAO, is leading a different initiative with his NFT-based platform designed to bridge the gap between writers and readers. Inspired by the historical Library of Alexandria, PageDAO aims to create an “online version” of this ancient repository, leveraging blockchain technology to ensure the preservation and unrestricted access to literary works.

    “Actually, back in 2020 we thought it would be the coolest thing to build an online version of the Library of Alexandria to give readers access to authors and authors access to their readers. This would also preserve records immutably”.

    Dylan Daniel

    Daniel’s journey into the intersection of blockchain and publishing was driven by his experiences in both academia and tech startups. Despite his extensive background, which includes pursuing a PhD, Daniel encountered significant barriers in accessing research and publishing data. His frustration with the existing system spurred the creation of PageDAO.

    “I’ve been frustrated by the bottleneck that slows down work, especially as a professional researcher. In addition, I expected that blockchain would not only open up access to data, but also publishing, which has not happened automatically, far from it,” Daniel shared.

    To facilitate this vision, PageDAO introduced a unique token model in July 2021, setting a cap at 10 million Page tokens. The tokenomics of PageDAO are designed to reward contributors and support the platform’s governance, reflecting a community-driven approach. However, not all ventures go as planned; despite the initial market capitalization reaching around $2.5 million, the value of the tokens plummeted.

    PAGE Token Price Chart – 1 Year

    image 237

    “It was their money, they were free to dispose of the tokens at will, but it did mean the token went to zero and stayed there for a long time,” Daniel explained, reflecting on the challenges faced after some community members quickly sold off their tokens.

    Despite these setbacks, Daniel remains optimistic about the future. The market resilience has begun to show, with token prices recovering from one tenth of a cent to three cents. Emphasizing his commitment to the community over personal gain, Daniel stated, “I’d rather have a smaller chunk of a larger pie at the end of the day.”

    Further fostering this community-centric model, Daniel has opted for decentralized exchanges (DEXs) over centralized ones (CEXs) to facilitate token trading, aligning with his philosophical stance towards decentralization and transparency. One such partnership is with a new DEX called Shade, which supports emerging tokens by providing a protocol match that enhances liquidity and provides some price protection.

    Looking forward, Daniel is excited about a strategic partnership with UNDGRN’s NFT Joe, aiming to leverage synergies between their projects for greater market presence and community engagement. He is also planning to incentivize community participation by introducing a gauge, a smart contract that rewards users for staking their Page tokens.

    What is a DAO?

    A Decentralized Autonomous Organization (DAO) represents a pivotal innovation in the management of collective efforts over the blockchain. Unlike traditional organizations governed through hierarchical structures, a DAO operates entirely on blockchain technology, ensuring transparency, democracy, and decentralization in its core operations. It is essentially an open-source software run by a set of rules written as smart contracts, which are executed on a blockchain.

    Members of a DAO are not bound by a traditional corporate structure; instead, they operate in a system where decisions are made via proposals and votes to ensure every member has a voice. This structure allows for global collaboration without a centralized authority, making DAOs ideal for collaborative projects, venture funding, and collective ownership endeavors where trust and transparency are paramount.

    What is an NFT?

    A Non-Fungible Token (NFT) is a type of digital asset that represents ownership of a unique item or piece of content, such as art, music, video clips, or other forms of creative work, using blockchain technology. Unlike cryptocurrencies such as Bitcoin or Ethereum, which are fungible, meaning each unit is the same as every other unit, NFTs are unique and cannot be exchanged on a one-to-one basis.

    This uniqueness and proof of ownership are secured by the blockchain, which ensures that each NFT is authenticated and ownership can be traced. NFTs have gained significant popularity in the art and entertainment sectors, allowing creators to monetize their digital works directly through global markets without intermediaries, providing a new economic model for digital content in the internet age.

    “We are starting low and aiming to build high. People lock their Page token into the liquidity pool and everyone wins. This is a trusted way to bootstrap the community without outside VC money,” Daniel concluded, envisioning a self-sustaining ecosystem that thrives on active community involvement and innovative blockchain solutions.

    Author Profile

    Jillian Godsil
    Jillian Godsil
    Jillian godsil is an award winning journalist, broadcaster and writer. co founder and editor at Blockleaders.io
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