Application Status
Status: New | Active
Last updated: 15.06.2023
**Submitted by Chukwuka Okorie
Team: SmartDAO - @Hexdee , @Temi
Approved Budget (in h):
Used Budget (in h):
Planned Delivery: 20weeks
Specify the funding category
Open Source Development, and Community Growth.
Application Title
SmartDAO
Applicant
A team of four blockchain enthusiasts.
Value Application
What will become better and why?
SmartDAO aims to improve decentralized governance within the Aeternity ecosystem and beyond. By implementing advanced features like reputation-based voting, incentivized participation, and seamless interoperability, SmartDAO enhances the decision-making process, fosters greater community engagement, and promotes transparency and fairness. This improvement will lead to more effective and inclusive governance mechanisms.
Why is your work beneficial for the Aeternity ecosystem?
SmartDAO greatly benefits the Aeternity ecosystem as it addresses critical challenges in decentralized governance. SmartDAO empowers community members to actively participate in shaping the ecosystem’s future by providing a robust governance framework. The reputation-based voting system ensures that decision-making power is allocated based on individuals’ contributions and expertise, fostering a more equitable and efficient ecosystem.
How will your work impact the larger Aeternity ecosystem?
SmartDAO’s impact on the larger Aeternity ecosystem is multi-fold. It strengthens the governance structures by promoting transparency, accountability, and community-driven decision-making. SmartDAO encourages more stakeholders to actively contribute to the ecosystem’s growth and development by incentivizing participation and fostering collaboration. The seamless interoperability with other blockchain protocols enables Aeternity to expand its network effect and leverage synergies with other ecosystems.
What does a successful contribution to your project look like?
A successful contribution from SmartDAO involves active community participation, engagement, and decision-making. It is marked by increased adoption of the reputation-based voting system, meaningful contributions from members, and the successful execution of governance proposals. The project’s success is measured based on its positive impact on the ecosystem’s development, the growth of the community, and the overall advancement of decentralized governance principles within the Aeternity ecosystem.
Definition of Terms
SmartDAO is built to revolutionize decentralized governance by providing a platform for transparent, community-driven decision-making and collaboration within the Aeternity ecosystem and beyond.
Status Quo
SmartDAO is currently in version 1.0 with basic DAO implementations deployed at SmartDAO.
Required Work
Milestone 1 for v1.0
- Secure top-level domain and hosting plan (10 years)
- UI development
- Complete version 1.0 smart contract creation
- Frontend implementation
- Community building (Discord, Twitter)
Milestone 2 for v1.0
- Iteration and improvement
- DAO templates and user profile creation
- Community building (giveaways, rewards, and others)
- Start of SmartDAO token creation
Milestone 3
- SmartDAO token and tokenomics completion
- Testing at all levels
- Token sale, airdrop, and community building
Estimate
Milestone 1 → 5 weeks(840 hours) | Milestone 2 → 6weeks(1008 hours) | Milestone 3 → 9weeks(1512 hours)
Known Limitations
As with any complex project, there may be unforeseen challenges and limitations. However, we are committed to addressing them promptly and ensuring the SmartDAO platform functions effectively to solve the original problem of decentralized governance.
Outlook
After the completion of the SmartDAO project, the platform will be deployed, attracting community members to actively participate in decentralized governance within the Aeternity ecosystem. Efforts will focus on community growth, continuous platform enhancements, collaborations with other projects, and potential expansion into other blockchain ecosystems, driving broader adoption and impact.
We have a comprehensive plan to populate the SmartDAO project. This includes creating a micro-web page to showcase the platform, regular social media updates to engage the community, informative blog posts to share project updates and insights, and producing video materials to explain the functionalities and benefits of SmartDAO. These efforts will help create awareness, attract users, and foster a thriving community around the project.
Publishment
Maintainance
We are committed to maintaining our research and development code for SmartDAO. We will provide bug fixes and new updates free of charge for at least one year after publishing it. Our aim is to ensure the ongoing improvement and stability of the project, delivering the best possible experience for our users.