Karma DAO founder Andrew Lee issued an announcement stating that it has been 4 days since the Karma DAO social experiment started and the community has grown to 204 members. Andrew Lee said that Karma DAO will evolve into a network group with common beliefs, and will also become a roadshow forum that provides opportunities for blockchain and DeFi developers to showcase their projects. It plans to provide development teams with 15-minute product demonstrations and 15-minutes Q&A time to showcase products. The team can directly negotiate with the members of the DAO for investment matters. The investment is handled by the two parties, and appropriate legal procedures, investor KYC and due diligence should be conducted outside the DAO. Previously, ChainWen reported that Andrew Lee, the limited partner of DNA and the founder of Web3 Journal, officially launched a professional network social organization called Karma DAO. Karma DAO will exist in the form of a private chat group on Telegram, using the token KARMA to give it Membership, users can join the Karma DAO private telegram group by holding 200 KARMA in the Ethereum wallet. The Collab.Land telegram robot built by the Abridged.io team will be used to verify the user’s token ownership. If the balance in the wallet drops When the amount is below the required amount, the user will be kicked out immediately, and the user can reapply to join until the account balance meets the conditions. As the number of members increases, the price of KARMA will increase slightly. If DAO members want to withdraw, they can sell their membership tokens at the current price according to the number of members in the group. If the number of members of the entire DAO has increased since the member joined , Then he will sell KARMA member tokens at a higher price. If the size of the membership expands, Karma DAO plans to launch a character team serving different professional backgrounds and interest categories.