A degen DAO experiment by @deanslistdao, powered by infra from @Symmetry_fi and @Realms_DAOs
Will the hivemind outperform the degen market?
JetSki DAO is a decentralized autonomous organization (DAO) hosted on Solana, managed through Realms. It empowers its community to make decisions regarding the management and growth of its assets. This DAO is an experiment in governance, aiming to unify its community around shared goals using Solana's existing tools to deliver value to its holders. All decisions, including asset allocation, are determined by votes from the DAO's members, ensuring full transparency and decentralization.
Symmetry Basket:
Symmetry is an on-chain asset management protocol that enables users to create, manage, and trade tokenized baskets of multiple cryptocurrencies. The protocol supports the creation and automation of mutable and immutable baskets and supports up to 15 assets per basket composition with various weights. Example: Solana DeFi Index, which is a basket containing top Solana DeFi tokens by market cap. Rebalancing, restructuring, and management of baskets are automated and executed on-chain.
Symmetry Baskets are customizable and can be used for various purposes such as creating portfolios, indexes, ETFs, or copy-trading. The protocol is audited by Ottersec and the UI is open-sourced for developers to build their own asset management platforms and integrate with the Symmetry protocol.
In the case of $JETSKI, a basket has been created with an initial total value locked (TVL) of 20k $USDC, giving the community complete control over the composition of this basket. Currently, it's entirely in $USDC, but the community can vote to diversify into other assets, including meme coins and Solana tokens.
$JETSKI represents Solana's first DAO-managed on-chain ETF, offering a unique experiment to see if collective decision-making ("hivemind") can outperform traditional, often speculative, market strategies ("degen market"). Community members have the opportunity to promote $JETSKI or other coins they believe in by voting to adjust the basket's holdings.
All fees generated by the basket are funneled back into the JetSki DAO treasury, ensuring that the value created benefits the community directly. This experiment was started by a group of power users from the Dean's List DAO, who ensure transparency and on-chain governance.
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