CannaDAO to launch platform for cannabis industry

CannaDAO announced the launch of its platform for cannabis growing and operations. It is the world’s first decentralized, member-governed platform for cannabis growing and operations.

CannaDAO said it aims at tokenizing the cannabis industry with its permissionless, decentralised, and member-governed on-chain platform. Majority of the world is excluded from the benefits of the legal cannabis industry.

The DAO is slated to launch on April 20 and powered by the Aurora cross-chain bridge running on the NEAR protocol. It will allow the users to participate and earn rewards from real-world operations within the cannabis industry, the company said.


The DAO will come with the governance token (CANNA) available on Ref.finance, allowing the users to participate in a decentralized and gamified governance model. CannaFarm, a P2E game, will launch on March 7 on Aurora.

A decentralized autonomous organization or DAO is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government, it stated.

The governance token plays a key role as a utility token allowing members of the CannaDAO to participate in project governance, including the proposal of new cannabis growing opportunities, voting on submitted proposals and funding approvals, the firm added.

The community can now disrupt, destigmatize and decentralize a trillion-dollar industry, said Eric Benz, Contributor CannaDAO. "The days of targeting stoner culture are over and it is the time to redefine what cannabis means."

Contributors to the project are projecting a $100 million Total Value Locked (TVL) in the next 6-18 months.