What is Chelo?
Chelo is a service that helps DAOs better serve their members by letting members borrow from the DAO treasury.
With Chelo, you can establish uncollateralized loans based on trust, or collateralized loans based on the value of the tokens or NFTs members hold.
What problem does Chelo solve?
DAOs have emerged as one of the more intriguing aspects in Web3.
Unlike traditional business that have a centralized decision making entity, decisions within DAOs are voted on by members of the community.
Community members make proposals and those within the DAO can vote on whether or not to action it.
It's a democratic approach to business.
Often, the value for users is the tokens they hold that offer membership to the DAO and the ownership stake these provide.
However, if someone needs more collateral to pursue a new venture, they have to look outside of the DAO.
it's a huge hole in the model.
DAOs often create very tight knit communities with similar goals. However, support -especially financial - can be difficult to come by within a DAO.
This is what Chelo is attempting to solve.
With Chelo, DAO members can make a proposal to borrow a certain amount of funds.
These funds can be drawn either from the assets other DAO members hold or from the DAO treasury.
DAO members vote and, if successful, the petitioner is lent the funds to pursue their venture.
How to get started with Chelo
Chelo is still in closed beta. however, you can reach out to the Chelo team to see if you could work together.
Head to their site and click on the "Contact" button in the top nav bar.
From there, you'll see the below form which will allow you to reach out to the team directly.
You could also join their Discord community to learn more about what they're doing.
Chelo contacts details
You can get in touch with the Chelo team through their website or through the below channels.