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

SubDAO Protocol
4 min readOct 5, 2022

Key Takeaways

  • The Commodity Futures Trading Commission (CFTC) revealed earlier this week that it had issued an order filing and resolving charges against blockchain software platform bZeroX and its founders.
  • The ruling fines the protocol and its inventors, Tom Bean and Kyle Kistner, $250,000 for providing unlawful, off-exchange trading of digital assets, committing registration violations, and failing to implement a client ID program needed by the Bank Secrecy Act compliance program. Click here to read more.
  • After months of uncertainty, the Tribe DAO has voted to reimburse impacted users of the $80 million exploit on the liquidity pools of decentralized finance (DeFi) platform Rari Capital.
  • After multiple rounds of voting and governance suggestions, Tribe DAO, comprised of Midas Capital, Rari Capital, Fei Protocol, and Volt Protocol, decided to vote on Sunday with the intention of properly compensating hack victims. Click here to read more.
  • US federal officials rejected one of crypto investors’ primary tactics for avoiding legal scrutiny. The Commodity Futures Trading Commission (CFTC) sued bZeroX, its founders, and Ooki DAO, a crypto collective affiliated with the firm, late last week, accusing them of illegally trading commodities and futures.
  • The bZeroX program allows crypto traders to purchase and sell cryptocurrencies on margin or using borrowed funds. This is the agency’s first prosecution of a decentralized autonomous organization. Click here to read more.
  • A series of modifications proposed by European Parliament members for the European Parliament’s position on anti-money laundering (AML) and counter-terrorism funding (CTF) laws can significantly alter Europe’s regulatory environment.
  • The Travel regulation, which previously caused a stir in the sector by putting identification verification criteria on the transfer of cash via so-called unhosted wallets, appears to have been repealed.
  • New revisions, however, broaden the rule's reach to include decentralized autonomous organizations (DAOs), decentralized finance (DeFi) protocols and their creators, and anyone trading NFTs. Click here to read more.
  • Karate Combat, a well-known full-contact martial arts league, has announced the formation of a decentralized autonomous organization (DAO) to delegate control to fans and competitors.
  • Karate Combat’s DAO will be introduced in December 2022 as part of a three-year sponsorship agreement with Hedera’s HBAR Foundation. Holders of KARATE, Karate Combat’s in-house governance token, will be able to vote on various choices, including the league’s budget, resource allocation, supplier selection, marketing strategy, and rule revisions. Click here to read more.

Social Media Update

Quick Breakdown Of The Brightmoment’s DAO

Bright Moments is an interesting spin on the classic galley-to-DAO bridge. They promote art shows by world-renowned digital artists, and at each site they open, guests may mint CryptoCitizens NFT, which serves as the DAO’s governing body.

The objective is to establish ten top global galleries, each with 1000 CryptoCitizens.

Service Based DAOs

This year has seen an increase in the number of DAOs that provide a service. Consider it a group of artists, copywriters, designers, and developers who collaborate on projects for various clients. A client pays the service price to the DAO treasury, and the treasury is distributed to DAO Members in proportion to their effort.

Essentially, a decentralized pool of experts ready to handle specific challenges in their respective professions is being created.

DAO As A Tool For Democratic Governance.

DAO is an efficient, safe, transparent, and secure method of platform management. The community may be found everywhere on the planet. Solcial is essentially a platform owned and controlled by the platform’s community. To be qualified to vote, each member of the community must have their own capital in the form of a slcl. This type of governance ensures transparency; every DAO member has a voice, and no one may make individual choices without the permission of the community.

Everland Announces Strategic Partnership With Dotbit

Everland announced a partnership with Dotbit and would celebrate with an NFT giveaway collab from the 30th of September to the 3rd of October 2022 with tasks available on SoQuest.

Mintdao To Launch First Cross-Chain Cosmos NFT Collection

Earlier this week, MintDAO announced the launch of the first cross-chain Cosmos NFT collection in cooperation with Rekt Gang and Axelar Network. Rekt Bulls would be the first cross-chain Cosmos #NFT collection created by the partnership.


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.

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SubDAO Protocol

SubDAO is a DAO infrastructure that helps manage digital assets through middleware, multi-sig, and other decentralized features.