2024 is almost over, and one of the most exciting developments in the tech world is the creation of the ELNA DAO, a decentralised autonomous organisation that hands control of the ELNA.ai platform directly to its community. This marks a major shift in how platforms are managed, as ELNA DAO represents not just a governance structure but a revolutionary approach to decentralisation.
The ELNA DAO’s journey began with the ELNA SNS (Service Nervous System) token sale, which took place from March 2nd to March 15th, 2024. This sale was not a typical token offering — it was the launchpad for transforming ELNA.ai into a platform that truly belongs to its users. Through this process, ELNA DAO was established, setting the stage for a new era where the development and governance of the platform are guided entirely by its community.
The aim behind this decentralised shift is straightforward yet powerful: ELNA DAO is designed to make ELNA.ai a public good, ensuring that no single entity holds control over the platform. Instead, the community now drives its evolution, with decisions made through proposals submitted and voted on by token holders.
The creation of the ELNA DAO was no small feat. The founding team took the first step by submitting a proposal to the Network Nervous System (NNS), outlining the details of a decentralisation sale for $ELNA tokens. This proposal was approved, and the sale officially opened to participants — though U.S. residents were restricted from taking part due to regulatory constraints.
The token sale took place on the NNS launchpad, where participants deposited Internet Computer Protocol (ICP) to receive $ELNA tokens. The proceeds from the sale went into an ICP ledger account, and control of these funds was handed over to the newly-formed ELNA DAO. This move marked the official decentralisation of the ELNA.ai platform, with the community now in charge of managing its treasury and making key decisions about its future.
Following the decentralisation sale, the reins of ELNA.ai were handed to the ELNA DAO. The DAO now oversees everything from platform upgrades to the use of the treasury, which holds $ELNA and $ICP tokens. One of the most intriguing aspects of this setup is that anyone holding $ELNA tokens has the power to submit proposals, meaning that every token holder has a say in the direction of the platform.
This level of community control is rare, even in the crypto space, where decentralisation is often more of a buzzword than a reality. ELNA, however, has gone all-in on true decentralised governance, allowing the community to shape the platform’s development, set priorities, and control its finances.
Decision-making within the ELNA DAO is a collaborative process, with several key mechanisms in place to guide the platform’s future. These include motions, which are essentially votes on ideas. Motions don’t enforce specific actions but allow the community to express their intent. For example, they can suggest new features or guide the development team’s priorities. The community can also submit proposals for canister upgrades, which involve upgrading the platform’s smart contracts. Once approved, the ELNA.ai team rolls out these changes through the SNS.
The DAO can vote to adjust the platform’s SNS settings, fine-tuning its operations to better serve the community. Additionally, the community decides how the DAO’s treasury is managed, including whether to transfer $ELNA or $ICP tokens for various purposes. Another interesting feature of the ELNA DAO is the ability to burn $ELNA tokens, reducing the overall supply and potentially increasing the value of the remaining tokens.
With the decentralisation sale wrapped up, ELNA DAO is already hard at work on a roadmap for the platform’s future. A number of proposals have been kicked off, with several more in the pipeline. One of the first proposals involves setting up liquidity pools on decentralised exchanges (DEXs), enabling trading of $ELNA. These pools will provide liquidity for the token, helping to stabilise its price and make it more accessible to a wider range of users.
To keep ELNA.ai running smoothly, the community has proposed transferring ICP tokens to cover ongoing hosting costs, known as “cycles.” This is essential to ensure that the platform remains operational as it continues to grow. The ELNA DAO is also responsible for ensuring that the platform has the funds it needs to cover day-to-day operations, from team salaries to legal expenses.
Another key proposal involves distributing $ELNA tokens to holders of LBP tokens, rewarding those who have supported the platform from the beginning. Finally, the community is working on proposals to list $ELNA on major crypto platforms like CoinMarketCap and CoinGecko, which would help increase visibility and accessibility for the token.
The ELNA DAO is more than just a governance structure — it’s the backbone of the platform’s future. By putting decision-making power directly into the hands of the community, ELNA has created a model where users have a direct say in how the platform is run. This approach not only aligns with the ethos of decentralisation but also ensures that the platform evolves in a way that reflects the needs and desires of its users.
As we move into 2025, the possibilities for the ELNA DAO are vast. The community will continue to shape the platform’s development, guiding its progress and ensuring that it remains a leader in the decentralised finance (DeFi) space. With the groundwork laid in 2024, next year promises even more exciting developments as the DAO continues to push boundaries and explore new opportunities.
The creation of the ELNA DAO marks a major milestone in the world of decentralised platforms. By handing control to the community, ELNA has set itself apart from other projects that often claim to be decentralised but retain centralised control. The ELNA DAO is a living example of what true decentralisation looks like — a platform governed by its users, for its users.
As the ELNA DAO continues to grow, it will be fascinating to see how the community navigates the challenges and opportunities that lie ahead. With a clear roadmap and a dedicated user base, there’s no doubt that the future of ELNA.ai is in good hands.
