Link to the GitHub repository.
Based off the feedback from previous post.
Introduction
Decentralized Autonomous Organizations (DAOs) stand as the cornerstone of a new era in governance, where transparency, decentralization, and community consensus redefine organizational structures. NucleusDAO emerges as a pioneering solution poised to revolutionize DAO creation and management on the æternity Blockchain.
At the heart of blockchain’s promise lies the potential for anyone, regardless of technical expertise, to participate in decentralized governance. However, the complexity of smart contract coding often presents a barrier for individuals seeking to establish their own DAOs. NucleusDAO addresses this challenge head-on by offering a user-friendly, accessible platform where the creation and management of DAOs require no prior coding experience.
By empowering users to effortlessly forge their own DAOs, NucleusDAO democratizes access to decentralized governance. Through an intuitive interface, users can choose from a diverse range of pre-defined DAO types, each tailored to cater to distinct organizational needs. Whether it’s a straightforward membership registry or a sophisticated hierarchical structure, NucleusDAO provides the tools necessary to bring these visions to life.
In essence, NucleusDAO paves the way for a new paradigm in blockchain-based governance, fostering inclusivity, innovation, and community-driven decision-making. As we embark on this journey to empower individuals and organizations, the support garnered from this grant will be instrumental in realizing our vision of a more accessible, inclusive, and robust decentralized ecosystem on the æternity Blockchain.
This proposal outlines our comprehensive plan to build and deploy NucleusDAO, detailing the key features, utilization of funds, expected outcomes, and our team’s commitment to delivering a pioneering platform. Through this endeavor, we aim to fortify the æternity ecosystem by facilitating accessible and robust decentralized governance solutions.
Objectives
Simplify DAO Creation:
NucleusDAO aims to eliminate technical barriers by providing a user-friendly platform for individuals and organizations to effortlessly create their own DAOs on the æternity Blockchain. Through an intuitive interface, users, regardless of their coding expertise, can navigate and establish their decentralized governance structures seamlessly.
Efficient DAO Operations:
Integrate smart contracts to automate DAO operations, such as fund management, proposal creation, voting, and execution, streamlining governance processes.
Diverse DAO Types:
Offer a spectrum of predefined DAO types to cater to varied organizational needs.
Enhance Accessibility:
Foster inclusivity within the blockchain ecosystem by democratizing access to decentralized governance. NucleusDAO empowers individuals and entities, irrespective of technical proficiency, to actively participate in shaping the future of their communities and organizations through streamlined DAO creation and management.
Facilitate Ecosystem Growth:
Contribute to the expansion and robustness of the æternity Blockchain ecosystem. By encouraging the creation of diverse and innovative DAOs, NucleusDAO seeks to stimulate collaboration, innovation, and new use cases within the æternity community, fostering a vibrant decentralized governance landscape.
Encourage Adoption and Engagement:
Promote widespread adoption of blockchain technology by showcasing the practical applications and benefits of DAOs. NucleusDAO aims to attract a broad spectrum of users, from grassroots community organizations to established enterprises, by highlighting the simplicity and adaptability of its DAO creation and management platform.
Continuous Development and Improvement:
Commit to ongoing refinement and enhancement of NucleusDAO. This includes iterating on the platform’s features, optimizing user experience, and integrating community feedback to ensure a continuously evolving and responsive platform that meets the evolving needs of users and the blockchain ecosystem.
Description of NucleusDAO
NucleusDAO goes beyond conventional DAO frameworks, providing a wide range of features that expand decentralized decision-making.
- Basic DAO: The Basic DAO within NucleusDAO operates akin to a multi-signature wallet but with enhanced interaction capabilities. Initially, members are added during creation, and subsequent additions or removals are conducted through proposal submissions. The Basic DAO is similar to the multisig wallet but with additional NucleusDAO functionalities. One crucial aspect is that each member possesses equal voting power within the Basic DAO structure.
NucleusDAOs Functionalities:
NucleusDAO includes features of a DAO such as:
Proposal Creation and Management
NucleusDAO enables members to propose initiatives, changes, or actions within the DAO, initiating the decision-making process. Members can create, and vote for and against proposals, fostering a transparent and participatory environment where ideas can be articulated and considered by the community.
Membership Control
Members are managed exclusively through proposals, ensuring democratic involvement in membership alterations.
Voting Mechanisms
Implementing a transparent and decentralized voting system, NucleusDAO enables members to participate in decision-making processes by casting votes on proposed actions or initiatives within the DAO. In the Basic DAO model, all members of the DAO have equal voting power. Each DAO has a voting time period after which the votes are closed automatically, and this voting time period is set initially when creating the DAO and can be changed later through a proposal.
Proposal Execution and Fund Management
Once a proposal achieves the required quorum vote with a majority in support, the DAO autonomously executes approved actions. Furthermore, the allocation and distribution of funds or resources are conducted through the decentralized governance process of approved proposals. Importantly, there are no administrators with sole authority over proposal execution or fund management, ensuring a fully decentralized decision-making mechanism within the DAO.
DAO’s Treasury
Each DAO has its own Treasury which is managed by the DAO’s smart contract. Smart DAO has an interface that displays the current balance of the Treasury and graphical visualizations to provide more insights. This Treasury can hold Aeternity native tokens and AEX-9 tokens. Not only can funds be spent through community-approved proposals, but NucleusDAO’s UI also empowers members to directly contribute to the treasury through donations.
Monitoring and Analytics
NucleusDAO empowers its members with robust monitoring and analytics tools, deep diving into the DAO activity, proposal success rates, and fund allocation. By monitoring these key indicators, the DAO can gauge its impact and adjust its strategies to maximize its positive influence.
How it works
Basic DAO
Creating a DAO:
- Initiation: A founding member triggers the DAO creation process within NucleusDAO.
- DAO Type Selection: Select Basic DAO from the list of available DAO types.
- Add initial members: Provide wallet addresses of all DAO members. Note however, that subsequent members can only be added through a voting and consensus of all members.
- DAO Customization: Configure the initial governance parameters, such as voting time, support thresholds, quorum as per the DAO’s specific needs.
- Additional Details & Deployment: Provide supplementary DAO information—like display picture, subdomain, description, and KYC details—and deploy the DAO.
Creating a proposal:
- Access Proposal Creation: Navigate to the designated area within your DAO and select “create proposal.”
- Define Proposal: Write a title, summary and select a proposal type depending on the action to be performed. Actions that can be voted on include transfer, modification of DAO settings and addition and removal of DAO members.
- Enter Proposal details: Enter additional details based on the type of proposal selected such as receiving wallet for a transfer proposal
- Review & Publish: Verify proposal accuracy and publish proposal.
Voting on a proposal:
- Access Proposal: Navigate to the DAO you are a part of and browse through the list of active proposals.
- Review Proposal Details: Carefully read proposal details and understand the actions proposed.
- Cast Vote: Cast your vote for or against the proposal. All members have equal voting power, except in cases whereby a member has delegated his voting power to another member
- Confirmation: Review your vote and submit the vote to confirm your participation.
Executing a proposal:
- Quorum and Support Threshold: Once a proposal voting time has ended and the minimum members required have voted on it with a number above the support threshold(usually 50%) voting in support of the proposal, The proposed action is now ready for execution.
- Execution process: As a smart contract cannot execute itself, the execute proposal function can be called by any member of the DAO, while the DAO verifies the proposal status and performs the proposed action on successful verification.
Grant Timeline - 8 weeks
Core Functionalities:
- DAO Creation: Develop intuitive interfaces for creating Basic DAOs.
- Membership Management: Implement proposal-based membership for Basic DAOs.
- Proposal System: Enable members to propose, vote on, and execute proposals for changes and actions within the DAO.
- Voting Mechanisms: Integrate equal voting for Basic DAOs, with configurable time periods.
- DAO Treasury: Create a smart contract-managed treasury for each DAO, trackable through the UI.
- Monitoring & Analytics: Integrate tools for analyzing DAO activity, voting patterns, and impact.
Technical Milestones:
- Develop core smart contracts for DAO operations.
- Design and implement user-friendly interfaces for DAO creation, management, and participation.
- Create ERC20 Vote like smart contract for the æternity blockchain.
- Design and implement monitoring and analytics dashboards.
- Conduct rigorous testing.
- Deploy NucleusDAO to æternity mainnet.
Funding Request
Total amount requested ($30,000)
Infrastructure and Hosting Costs ($4,000):
Funds will be allocated to cover expenses related to infrastructure setup, server costs, cloud services, and maintenance fees essential for hosting the NucleusDAO application.
Development and Implementation ($5,000):
Allocated funds will primarily support the development phase of NucleusDAO expense on developing, prototyping, iterating, and rigorously testing innovative functionalities, meticulously implementing the core architecture and adhering to best practices in decentralization and secure execution.
Domain Acquisition ($2,000):
Budget allocation will cover the purchase of necessary domain names to establish a recognizable online presence for NucleusDAO, ensuring ease of access and user recognition.
Developer Salaries ($12,000):
A significant portion of the grant will be utilized to compensate the development team and any technical staff involved in the creation and ongoing enhancement of NucleusDAO.
Marketing and Outreach ($3,000):
A portion of the grant will be designated for marketing efforts aimed at raising awareness and promoting NucleusDAO within the æternity community and broader blockchain ecosystem. This includes targeted marketing campaigns, community engagement initiatives, and promotional activities to attract users and encourage adoption.
Contingency and Future Development ($4,000):
A contingency fund will be set aside to address unforeseen expenses and to support future iterations and improvements of NucleusDAO, ensuring its adaptability and sustainability in the evolving blockchain landscape.
Expected Impact
Elevating Governance Capabilities:
NucleusDAO’s introduction on the æternity Blockchain significantly enhances the platform’s governance capabilities. By simplifying the creation and management of DAOs, it broadens the scope of decentralized decision-making, positioning æternity as a hub for innovative and inclusive governance structures.
Diverse Use Cases and Adoption:
NucleusDAO’s versatile suite of features encourages the exploration of diverse use cases within the æternity ecosystem. This diversity attracts new users, from community-driven projects to established entities, thereby expanding the user base and fostering wider adoption of the æternity Blockchain.
Community Engagement and Collaboration:
With its interactive community spaces and robust communication channels, NucleusDAO serves as a catalyst for heightened community engagement. It cultivates a culture of collaboration, enabling æternity users to actively participate in discussions, share ideas, and collectively contribute to the growth and development of the ecosystem.
Technological Advancements and Iterations:
The implementation of NucleusDAO introduces new technological advancements and iterative developments within the æternity Blockchain. The platform’s adaptability, highlighted by the forthcoming feature allowing DAO transformation, showcases the blockchain’s responsiveness to evolving user needs and technological innovations.
Enhanced Reputation and Differentiation:
NucleusDAO’s innovative approach to decentralized governance solidifies æternity’s reputation as a forward-thinking blockchain platform. By offering unique features and fostering a vibrant ecosystem of decentralized organizations, æternity stands out as a leader in promoting cutting-edge governance solutions within the blockchain space.
Long-term Ecosystem Resilience:
NucleusDAO’s impact transcends immediate benefits, contributing to the long-term resilience of the æternity ecosystem. By nurturing a robust environment for decentralized decision-making, it lays the groundwork for sustained growth, adaptability, and community-driven innovation within the blockchain network.
Conclusion
NucleusDAO’s innovative approach to decentralized governance has the potential to revolutionize not just how decisions are made within organizations but to fundamentally transform societal structures. By fostering transparency, inclusivity, and efficient decision-making processes, NucleusDAO aspires to lay the groundwork for a more equitable and participatory future. We are deeply grateful for your consideration and support as we embark on this journey to reshape the landscape of decentralized decision-making.
Thank you for considering our proposal. Together, let’s shape a future where decentralized governance is accessible, transparent, and empowering for all.
