Breakthrough and Progress of SubDAO in Development
SubDAO is working tirelessly to build a tool for DeFi and NFT applications. To date, SubDAO’s development team has completed the development of the PolkaSign and Chrome Extension through continuous innovation and exploration, which will become another milestone in SubDAO’s ultimate goal of achieving “One DAO Serves All”.
Agreement signing system on Web 3.0: PolkaSign
The SubDAO team officially released SubDAO’s PolkaSign product development program in August. As an emerging Web 3.0 application built on the Polkadot ecosystem, PolkaSign provides users with a new form of electronic protocol system.
The emergence of PolkaSign not only replaced paper protocols that have lasted for thousands of years but also solved the problems in the current popular electronic protocols. PolkaSign was born out of where the electronic protocols apply centralized storage form, and the fraud may exist and so on, forcing people to start exploring safer and more efficient ways to sign agreements.
With PolkaSign, the agreement can be signed in just a few steps: upload the agreement file and sign it in PolkaSign, and then share the link with the co-signer. This convenient mode of operation is more in line with people’s expectations of Web 3.0.
In terms of storage methods, PolkaSign combines blockchain and decentralized storage to store protocol files through decentralized storage systems such as IPFS, Swarm, or Crust in the Polkadot ecosystem (currently only PDF is supported). Protocol information, including signatures, signers, lists of protocol documents, etc., are encoded on the blockchain through smart contracts, which means that no one can tamper with the protocol and other issues, while effectively avoiding fraud.
PolkaSign provides users with a Dapp that processes protocol files, sync signers, and links generated after files are uploaded while interacting with decentralized storage and smart contracts on the blockchain. Since PolkaSign’s smart contract is based on ink! Any Substrate-based chain is easy to use as its own tool. As a tool for carrying important information, interaction means the flow of information, PolkaSign compatibility will increase scalability and information processing speed, which facilitates more users.
Link Web 2.0 to Web 3.0 Bridge: SubDAO Chrome Extension
While there are many advantages to DAO, such as having all members involved and accountable in the governance of the project, enforcing all governance rules openly and uniformly on the blockchain, and so on, the other side of the advantage is that all of these benefits are generated by significant investment in technology and costs. How to participate in the governance of DAO has become an urgent problem to be solved in DAO governance. In addition, the current DAO tool itself is single-functional, difficult to meet market demand, and complex operation, which is another important reason why countless people are shut out of DAO.
In response to these problems, SubDAO has learned from market experience and developed Chrome extension through research and exploration. As a new tool for Polkadot Ecology, the SubDAO Chrome Extension integrates wallet, DAO management capabilities, interacts with Web 2.0 social platforms, and can be applied to all Polkadot cross-chain assets, breaking down the technical barriers between Web 3.0 and Web 2.0. The tool also bridges Web 3.0 for users in the Web 2.0 world, enabling high compatibility of Polkadot’s cross-chain assets. So It’s really another major breakthrough in DAO governance and the Polkadot ecology.
With the SubDAO Chrome Extension, users can vote on DAO governance on Twitter and send crypto-assets directly to their fans in the form of red pockets, allowing anyone to participate directly in the process of DAO governance, greatly lowering the threshold for user participation, without the confusion of high GAS fees. Developers can easily and quickly integrate DAO governance into applications on the web, iOS/Android mobile devices, and PCs.
Progress in the development of SubDAO Polkasign
At present, the SubDAO technical team has made further system technical adjustments and upgrades on the basis of PolkaSign’s original technology. At the same time, on the basis of ensuring that the page is concise and easy to operate, the UI design of the tool is optimized to achieve a more friendly user experience.
Progress in the development of SubDAO Chrome extension
So far, the SubDAO development team has made some contributions in this regard. SubDAO Chrome extension is the first tool to link Web2 to Web3, and also provides a broader, more direct, and effective way to reach users for blockchain applications such as DeFi and NFT.
To achieve this, the team is working to incorporate two tokens, DOT and KSM, into the extension to provide more asset selections for users.
On the basis of the old version, the development team will also upgrade and optimize the UI design of the extension, which enriches the visual effects while ensuring the stability of the function.
In addition to enriching the crypto assets supported by the extension, the team is currently making further improvements on the voting function of the extension, except for supporting custom voting options, the extension will support the default voting template, making it easier for users to set up a vote more quickly.
A modified version of Dapp
Building on older versions, SubDAO development teams will optimize the design of the Dapp to provide a more user-friendly experience, helping users participate more quickly and efficiently in DAO governance. Dapp’s development is currently expected to be completed in the next Millstone.
Vault, as a smart contract for subDAO networks, is primarily used to provide the basis for asset management for each DAO created on subDAO networks, such as asset management for different categories of assets, including assets required to create new DAOs, assets deposited by DAO administrators, etc. Therefore, the recording of assets is critical both for the SubDAO network and for every user involved in the SUBAO network.
Currently, the SubDAO development team has completed the development of the Vault Transfer Record.
In addition, the contract development also includes the user after the SubDAO network created ERC20, all tokens sent to the creator, user participation, the creation of DAO in personal information can be consulted, and so on.
The road to technological progress is endless. The SubDAO team is still constantly exploring.
SubDAO is a DAO infrastructure based on Polkadot, where any decentralized organization is allowed to conveniently create and manage a DAO. SubDAO does not only connect DAO with DApps to realize DAO’s cross-chain management but also bridges Web 2.0 and Web 3.0.
The founding team of SubDAO is composed of the former Technical Team leader of the IBM Group and many early well-known developers from Polkadot. All team members own rich experiences in Internet companies such as IBM, Tencent, and Alibaba. Jack Platts, former Director of External Cooperation of the Web3 Foundation and Partner of Hypersphere Ventures, serves as a strategic contributor to SubDAO. So far SubDAO has completed multi-million dollar financing including Hypersphere, Huobi Ventures, and other institutions.