SubDAO News: Bi-Weekly Update on the World of DAOs

5 min readOct 20, 2022

Key Takeaways

People getting involved with a decentralized autonomous organization (DAO) should be aware they’re not immune to government attention, chairman of the U.S. Commodity Futures Trading Commission (CFTC), Rostin Behnam, said earlier this week at the DC Fintech Week in Washington, D.C.He said that the controversial case against Ooki DAO was so egregious and so obvious that the CFTC had to pursue it. His agency highlighted this last month when it settled accusations against blockchain protocol and company bZeroX (bZx) and two of its founders, which the regulator accused of offering illegal trading and lending services. Click here to read more.
In the second $100 million DeFi hack this week, Mango Markets was drained of $100 million in funds due to an exploit. According to a blockchain auditing website, the attacker temporarily drove up the value of their collateral and then took out loans from the Mango treasury. Mango Markets is a Solana-based platform for trading digital assets on the Solana blockchain for spot margin and trading perpetual futures. Mango Markets is governed by Mango DAO. Click here to read more.
NFT project Moonbirds will adopt community governance through a DAO — or decentralized autonomous organization — set to launch in early 2023, project creator Proof announced earlier this week. Proof, co-founded by CEO and tech entrepreneur Kevin Rose, revealed additional details for the previously-confirmed DAO structure, which is being established to empower creatives that are building towards furthering the Moonbirds ecosystem, reputation, and lore. Click here to read more.
The community governing MakerDAO, the decentralized autonomous organization (DAO) behind stablecoin DAI, has allocated $500 million for investing in U.S. Treasurys and corporate bonds.The funds will be come from its overcollateralized stablecoin, with 80% going toward U.S. short-term Treasurys and 20% to investment-grade corporate bonds. MakerDAO’s community voted in favor of the allocation proposal, which was presented in late June. Click here to read more.
The DeFi market is warming up as winter sets in. The decentralized oracle protocol Chainlink and its native LINK token have risen by nearly 8% over the past 24 hours, according to CoinGecko. The token was trading at $7.65 earlier this week and enjoys a market capitalization of more than $3.7 billion.Chainlink’s oracles are used throughout the decentralized finance (DeFi) sector to provide pricing data to various projects. Of late, the crypto project and Coinbase Cloud, the San Francisco-based crypto exchange’s API and data service, have tied up to bring a similar offering to the world of non-fungible tokens (NFTs). Click here to read more.

Social Media Update

How Superdao Covers Users’ Gas Fees

When creating your own DApp, the question of adding gas payment functionality for the user often arises. This significantly reduces the entry threshold for new users since you can start working with the system even with a zero balance on your wallet.

For this purpose, Superdao has created a CallForwarder smart contract, which implements the ability to connect multiple transactions into one and support meta-transactions.

Meet the CallForwarder

How Superdao covers users’ gas fees

medium.com

How Coinshift Uses Gelato In Conjunction With Superfluid To Enable Secure Money Streaming

Coinshift is a treasury management solution for DAOs and companies built on top of Gnosis Safe, the leading platform to manage digital assets with multisig security. However, one of the limitations of Gnosis Safe is that you only have an overview of one safe at a time, making it difficult for crypto organizations to have a total view of their different safes across multiple chains.

How Coinshift uses Gelato in conjunction with Superfluid to enable secure money streaming

Coinshift is a treasury management solution for DAOs and companies built on top of Gnosis Safe, the leading platform to…

medium.com

Y-Foundry DAO Bounty Program Goes Live: Complete Tasks, Earn Reputation Points!

Y-Foundry DAO, the decentralized strategy accelerator, is launching an open community bounty program in collaboration with Dework’s bounty platform.

After announcing its imminent launch on Terra Phoenix-1, Y-Foundry DAO is launching task-driven bounties rewarding reputation points for each completed task. Bounties serve as a way of establishing a highly visible and equitable way of documenting user contributions in the community.

Y-Foundry DAO Bounty Program goes Live: Complete Tasks, Earn reputation points!

Y-Foundry DAO, the decentralized strategy accelerator, is launching an open community bounty program in collaboration…

medium.com

Leprechaun Alpha DAO Moves To Discord

Leprechaun Alpha Dao were glad to announce that their Dao will now be moving to Discord. Also they have great news coming for the followers who have been trying to be a part of the community.

Solana Goes Live On Thirdweb

ANNOUNCEMENT. Solana is live on thirdweb. As they are excited to bring their full stack web3 development kit and network of 60,000 builders to Solana. A new era for Solana development starts today.

They launched thirdweb to simplify the web3 development workflow. Their free tools made deploying smart contracts and building apps fast, simple & effective. They’ve spent the last 11 months working closely with web3 devs to perfect our product to give builders the tools they need.

Highlights

About SubDAO

SubDAO is a multi-chain DAO protocol. It allows any decentralized organization to swiftly create and manage DAOs. We are committed to serving as a Web3.0 entry by providing blockchain-based digital agreement signing, DAO social networking, asset management, and other tools and services.

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. SubDAO has completed multi-million dollars financing from dozens of institutions including Hypersphere, Huobi Ventures, OKEx Blockdream Fund, as well as investment by Messari founder Ryan Selkis.