The news of Bryan Legend resigning as CEO of Vulcan Blockchain hit the crypto market hard. Legend has significantly impacted the growth of this sector through his innovative ideas and lifetime dedication. However, over the past few months, he noticed his mental health declining and decided to take a backseat for his good.
The abrupt transition almost caused chaos, but Legend left Vulcan in the hands of a capable team in Australia. He also made a significant change in the operation of the current project, SafuuGo. Though it began as his workpiece, Legend saw it wise to make SafuuGo a Decentralized Autonomous Organization. This means that this project will be in the control of the crypto community subscribed to it.
SafuuGo is an improved version of the original Safuu and implements artificial intelligence in its protocols. It became the first AI smart contract in the world, and since it would greatly benefit crypto users, Bryan Legend decided to make it a DAO. Though the change led to a lot of misinformation about the program, Legend addressed the issue on Twitter and said that everything operates legally and investors don’t need to worry.
— Bryan Legend (@BryanLegendCEO) July 25, 2023
The resignation step from Vulcan Blockchain and transforming SafuuGo into a democratic DAO bring significant changes. Through the help of other stakeholders, Bryan Legend ensured that the project did not get controlled by one person but rather the entire community. Those with the $SFGO tokens have voting rights to determine what changes must happen and what remains the same.
While there are many benefits of having one leader, a democratic DAO improves transparency making users more confident in the platform. Combining this with the predetermined rules makes the system more efficient for long-term operations. As a way of proving the platform’s reliability, Legend transferred $150,000 to the MultiSig wallet that routes all of SafuuGo transactions. While letting go was a hard decision, Legend did this to ensure that the platform continues to benefit many investors in Australia.