Summary of One Question A Day Event on SubDAO
We are glad to announce that the One Question A Day event has been completed. All participants show their enthusiasm and wisdom in the event which provides a chance that can help the community know more about SubDAO and its ecosystem.
In order to help more members understand SubDAO, we make a summary of all questions and answers from two rounds of events. Check and learn it now!
- How does SubDAO make a contribution to developers?
The SubDAO will run as a parachain to provide specific services. The various DAO templates and SubDAO Airfone will alleviate the burden on developers to maintain DAOs and to create DApps linked with DAOs.
The initial governors of a DAO can easily create a cross-chain DAO with only a few clicks without any tech skills at all. Developers who are willing to build DApps can give the governance to communities by using SubDAO to create the very DAO connected to DApp through SubDAO Airfone.
And the OCW (O-chain Worker) provides the ability to access the o-chain world, which would empower SubDAO to access external data rather than only On-chain data, such as the price of stable coins, the contributions on Github, and so on.
2. Which part is the fundament of the SubDAO network in the component of SubDAO?
SubDAO Node is the customized chain node for the SubDAO network built by Substrate 2.0. It’s the fundament of the SubDAO network that contains the basic functionality as a normal chain node but also provides the ability to fetch external data needed for DAO governance with the OCW (O-chain Worker) from Substrate 2.0 Framework.
3. How to build a new DAO from the perspective of the SubDAO network scenarios?
As shown above, the steps to create a new DAO are marked. The DAO governor calls the smart contract of the SubDAO Guard to choose a proper DAO template from the DAO Template Library. After the governor fills in the basic information required by the template such as name, description, the rules of governance, initial members, and so on and deposits the initial fund to the Asset Vault, the SubDAO Guard contract will create the DAO according to the chosen template and filled information. All extra information, such as images, texts, and files, will be stored in a decentralized storage network like IPFS.
4. In most features of SubDAO, Which feature can help SubDAO Network to interact with off-chain Workers?
The on-chain worker is a new feature in the Substrate Framework that allows the SubDAO Network to interact with on-chain data.
5. If a developer wants to interact with SubDAO DAO contracts, which components will be involved in this process?
The first way to get involved with a specific DAO is using the Front End created by the SubDAO Labs to interact with all the DAOs on the SubDAO Network. The second way is using the SubDAO Airfone. The SubDAO Airfone will hide all the details of calling smart contracts for users and is used by DApps since the developers of DApps can customize their scenarios according to their needs.
6. What’s the function of the PolkaSign?
PolkaSign is a Web3.0 application for electronic protocols built on the Polkadot ecosystem. PolkaSign uses the Substrate Framework based on the SubDAO network to develop, can be replaced with any Substrate-based chain, and provides services for any type of organization with electronic agreements.
7. How many members are there in the PDA? And who?
There are 17 members on PDA until now, including Plasm, Phala, Stafi, Crust, Litentry, Bifrost, Patract, Darwina, Zenlink, and DeepDAO, members include zCloak Network, Clover, MathChain, Apron, and Stone, Manta Network.
8. What are the basic functions of DAO on Substrate built by SubDAO?
The basic functions include creating DAO, managing the assets vault and members, and conducting voting governance. So far, all modules and contracts of SubDAO have been integrated, becoming the first Polkadot project to implement DAO basic functions on Substrate, opening a new exploration of Polkadot ecological DAO governance.
9. What do you know about the process of SubDAO blockchain and Smart Contract development?
The detail includes:
- Upgraded the master node to Substrate3.0+, deploy a multi-node testnet
- Expanded flexibility on module design and adjusts to add new modules after creation.
- Adjusted the authority control voting module on the Vote process (Adds the function of setting the voting crowd, and adds the optional range when voting).
- Added voting and approval procedures for withdrawal applications on Vault (Anyone can initiate a withdrawal application, which is required to vote for it by a moderator so that the withdrawal can pass the verification).
- Adjusted the logic of personnel settings on Org, which can increase the way for personnel to join the organization (Org adds personnel to exit independently).
- Optimized the deposit process and increased withdrawal approval.
Other user experience and performance optimization :
- Optimized the Moderator Permission management;
- Fix list DAO instance owner logic bug;
- Compiled DAO manager contract.
10. Which investment institutions have invested in SubDAO until now?
Hypersphere Ventures, Huobi Ventures, OKEx Blockdream Ventures, CMS Holdings, Signum, NGC Ventures, Digital Finance Group(DFG), Spark, SevenX, LD Capital, Digital Renaissance Foundation, Dealean, Kernel, Divergence Ventures, Bixin Ventures, Kenetic Capital, AU21 Capital, Illusionist Group to participate, and individuals including early team members and former chief growth officer of the DCG Group, Massari founders Ryan Selkis, Mask Network founders Suji participated in the investment.
1. What kind of endeavor has the SubDAO team made to build the brand?
Building of Polkadot DAO
2. What content has been updated on the SubDAO official website?
SubDAO’s official website has been upgraded and revised, which will bring the audience a brand new visual presentation. This revision not only gives the overall visual effect a whole new look but also shows some differences in the structure of the official website and the display unit on the homepage.
3. How will the SubDAO Node work with the external data?
As shown above, the steps to create a new DAO are marked. The DAO governor calls the smart contract of the SubDAO Guard to choose a proper DAO template from the DAO Template Library. After the governor fills in the basic information required by template such as name, description, the rules of governance, initial members, and so on and deposits the initial fund to the Asset Vault, the SubDAO Guard contract will create the very DAO according to the chosen template and filled information. All extra information, such as images, texts, and files, will be stored in a decentralized storage network like IPFS.
4. Do you know the SubDAO team members? List their name.
Team Members are as follows.
Wang Qiang: Technical Contributor; Chief Solution Architect in Tencent; Former Team Lead in IBM; Core Developer of Smart Cloud / HSLT; Code Contributor of KVM; Community Contributor in RedHat
Humphrey: Community Contributor; Graduated from Peking University; Co-founder of PAKA Fund; Investor in many early projects of Polkadot
Marvin Tong: Technical Contributor; Founder and CEO of Phala Network; Former Product Manager in Tencent
Owen: Community Contributor; Stafifi Co-founder
Da Jun: Technical Contributor; Former Senior Software Engineer in Alibaba; Core Developer of Wetez and StaFi.io; Over 12 years of experience in Development
Sang: Community Contributor; Founder of Polka Warriors; Founder of Dotmarketcap
5. What’s the motivation that SubDAO builds great work?
DAO is the ideal governance model in the mind of the team. Creating and maintaining a DAO is not so easy, especially to make a DAO working across different chains. But with the help of Substrate 2.0 and Polkadot, the team thinks it is the time now. In the area of Decentralized Autonomous Organizations, there are many mature DAOs maintained in different ways with different tools or platforms, such as MakerDAO and The LAO. Also, there are some
other tools to help governors building a DAO, such as Aragon. Aragon is a project providing tools to create and the governor a DAO, but only available on Ethereum.
6. Which features make SubDAO unique and different from other projects in the Polkadot ecosystem?
SubDAO is an enabler that aims to make DAO service easier-accessible. It is a cross-chain DAO creation and maintenance platform for DApps, powered by Substrate and Polkadot.
Despite several DAO service platforms, we are still far away from the real mass adoption of DAO and faced by many obstacles, including high technical barriers, unsatisfying user experience, simple and basic DAO functions that are unable to meet diverse user cases, most solutions are focused on Ethereum, etc.
However, SubDAO is created to tackle the problems that have been long ignored by other teams. So I would say that SubDAO has the following unique features:
- Cross-chain platform;
- Access to off-line data;
- 0 technical background needed to create a DAO;
- Easy-to-navigate user interface. In the future, SubDAO will add more DAO templates and all types of organizations will be able to find a suitable DAO template for their own use.
7. What are the use cases of SubDAO tokens?
GOV, short for “Governance”, is the native token of the SubDAO network. The total supply of GOV is 1 billion, with an annual inflation rate of 5%. The design of the SubDAO tokenomics model boils down to three goals: 1. Slot Auction; 2. Incentive the development of DAO; 3. Governance.
8. What is the basic logic of governance farming design?
Every organization with a DAO will have assets in the DAO. The amount of the initial shares (equity token) obtained by each DAO is decided by the asset size of the DAO;
DAO can realize share inflation and redistribution of DAO assets through voting and other governance activities, to achieve the goal of the organization;
We believe that the value of a DAO depends on many aspects including fund size, member count, and the frequency of governance activities. The bigger the fund, the more the member count, and the higher the frequency of governance activities, the more valuable and successful a DAO is.
9. What do the Genesis Farming pools include?
A total of 7% of the tokes will be distributed to 5 Genesis Farming pools. We will adopt a whitelist application mechanism. Then the DAOs that pass the application will receive farming rewards in GOV. The 5 types of DAO farming pools are:
- Foundation-based DAO
- Community-based DAO
- DeFi-based DAO
- Art (NFT)-based DAO
- Developer-based DAO
20. Do you know the core roles of the SubDAO ecosystem? List them.
In the SubDAO network, there are several core roles: para-chain contributors, farmers, and the SubDAO Council.
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.