The Cardano DAO (₳DAO) team has put forward a proposal to create an open-source toolset for DAOs on Cardano. Once completed, the toolkit will facilitate easier and convenient creation and running of DAOs for the Cardano Ecosystem. They believe that with the Plutus Application Backend toolkit for smart contracts, Cardano can now compete with other blockchains such as the Ethereum Virtual Machine, which are popular for their DAO structures.
Organizations looking to venture into decentralized governance will use these tools for voting, organizing, and treasury as they direct policies within the organization. The proposal intends to make these tools as flexible as possible to accommodate different types of organizations and governing structures. This will allow teams to concentrate on the essentials of their DAOs as the toolkit automates the technical part of the ₳DAO.
The Cardano DAO has been active since Nov. 13, 2021. One major flaw so far is that for governance, members have to use Cardano CLI. However, ₳DAO developers are currently in the process of establishing a GUI interface that will make participating in the DAO a lot easier.
The Team Behind ₳DAO Infrastructure
Ada Minnow – Entrepreneur/Business Owner. The project stands to benefit from his vast experience in DAOs and management, from being a key member of several DAOs such as Ethereum and Harmony.
Ibis–NFT artist/Graphic Designer/Sales and Marketing Guru in retail tech with over a decade’s worth of experience. His skills in branding, copywriting, and social media management will go a long way in designing the Cardano DAO suite.
Nicolas Cerny (Lovecoach) – Business Analyst. Specializes in Engineering and project management. He is passionate about decentralized governance and looks to establish a proper framework for organizational structure for the ₳DAO.
The team is also made up of avid blockchain enthusiasts such as Adam Rusch and Sims. With the help of these two, the project will always be up to date with the latest trends and practices in the space. Adrian is a PhD holder in Education policy while Sims is a long-time entrepreneur whose favorite subject is decentralized finance.
On the software development front, team members DZcodes and Riley, will come in handy. DZcodes is an experienced backend developer while Riley is a Blockchain and Artificial Intelligence wizard. These two will play the crucial role of ensuring that the technical part of the Cardano Suite is well taken care of.
Project Funding and Timelines
The ₳DAO infrastructure project seeks to raise a total of $50,000 to help facilitate its growth and development for the first 6 months as follows.
- $30,000 will be used for the development of back-end tools. This involves research and implementation of governance tools, catering for the website, facilitating wallet integration, and testing of governance scripts.
- $15000 will go towards DAO seeding. To increase the adoption of the ₳DAO, the team plans to offer incentives to people and organizations that collaborate and participate in the DAO.
- $5000 will go towards the web and branding of the ₳DAO.
What the future Looks Like for ₳DAO
With the support from Catalyst funds, the future sure does look bright for ₳DAO. The team has already laid down the foundation for a functioning governance system for the DAO. This system allows for functioning scripts that members can use either for spending from the treasury, minting governance tokens, or verifying the identity of underlying governance scripts as NFTs.
The project also looks to establish brand standards, membership rewards, and guidelines for members applicable both in the DAO and in other platforms as well. In the long run, their goal is to develop a website where any Cardano user can generate governance and treasury scripts for use in their DAOs on the chain.
To read more about the₳DAO proposal, you can find it here.