Multi-Chain DAO Protocol
SubDAO is a multi-chain DAO protocol, which enables chains to quickly have DAO functionality and supports DAO to execute various decision-related transactions. SubDAO aims to provide a general and widely applicable DAO tool for the revolution in the Venture Capital field.
DAO is the ideal governance model for the future of Web 3.0 organizations. However, creating and maintaining a DAO is not so easy, especially when working to create interoperable DAOs. Several DAOs have developed basic DAO solutions, but technology is rapidly moving forward; thus, the SubDAO team believes it is time to improve the existing toolchains to allow advanced functions while maintaining compatibility with small and medium-sized organizations.
Many DAO platforms have been launched, each with different tools and features; popular ones include MakerDAO and TheLAO. Aragon is another project that helps governors build a DAO, providing necessary tools; however, it is only available on Ethereum.
SubDAO is a necessary evolution and an upgrade on other DAO-related projects.
We are building powerful DAO templates to facilitate a holistic decentralized decision-making system. DAOs shouldn’t be limited to simple voting but should also be capable of achieving Decentralization of decision execution. For example, a voting system is limited to two choices – YES or NO, AGREE or DISAGREE. However, it is possible to have thousands of varying decisions. Hence, to improve DAOs, the system must evolve from a simple voting system to executing decentralized decisions.
Our product, Ventures DAO, is a good example to describe this.
When deciding to invest in a project, the DAO needs to issue a vote. If a consensus is reached, DAO funds will be transferred to the invested project; however, the entire investment behavior is far from over. In the future, the DAO will collect investment tokens, sell tokens, and distribute dividends to governors.
If we consider system requirements, hardly any existing DAO system can meet up with Ventures DAO in terms of tools required to facilitate advanced decision-making mechanisms and benefit distribution in terms of dividends.
Also, forking an existing DAO protocol to independently create and run a DAO is cumbersome; we often receive complaints from many organizations that they cannot find suitable DAO tools (funds, game guilds, etc.) to run their governance system. As a result, many DAOs have to choose some centralized governance methods while managing their funds with a multi-sig wallet (e.g., Gnosis) to maintain their “decentralized” status.