Last updated 2 years ago
DApp development on Cardano involves several challenges for developers and community builders.
MLabs will implement a governance protocol that is configurable and modular. Our protocol can be deployed to create a DAO for communities.
This is the total amount allocated to MLabs DDAO.
Introduction
Decentralized autonomous organizations (DAOs) are a recent innovation primarily made possible by distributed ledgers and smart contracts. Considered by some the successor of the LLC, proponents are well aware of the structure's coordinating power. For instance, Constitution DAO recently raised $47 million to participate in an auction for a rare copy of the United States Constitution. Although the DAO was eventually outbid, its highly competitive offering organized in a record short time caught the attention of CNBC and others. We aim to promote this type of agility among autonomous communities organizing on top of Cardano.
To live up to their name, however, DAOs must incorporate a significant amount of decentralized structure via smart contracts. To expedite their creation, we will implement a system that can rapidly roll out a DAO. Similar in form to the SaaS model, our DoubleDAO ($DD) system will:
Fees across the platform will be paid in Ada and DAO-specific native tokens. In turn, user-DAOs will benefit from a robust platform configured to meet their needs. Early on and throughout the protocol's lifecycle, $DD will also be distributed among User-DAOs. $DD will confer voting rights to holders and can be staked. These mechanisms will align incentives among all ecosystem participants while driving engagement and the development of the platform as a whole.
Functional Overview
MLabs has designed a governance structure we deem the "Epoch System." In this model, an application Epoch describes a period of time wherein an application behaves in a circumscribed manner. Our design ensures continuity from one Epoch to another while allowing a system to evolve following the decisions of its stakeholders. In part, we achieve this by separating the operational logic from the overarching organizational logic of a DAO. These scripts can be swapped out by changing the DAO UTXO which gets propagated further into the system.
We will create the Double DAO structure using this model – a DAO of token holders that benefit from and maintain user-DAOs relying on our SaaS-like smart contract suite. In turn, the shareholders of user-DAOs will be able to mix-and-match functionality as they construct their communities.
Double DAO will offer many benefits to users:
* Reduced audit surface area
* Reduced complexity
* Ability to engage community members in a DAO before app launch
* Extensible design that is easy to integrate
Similarly, $DD token holders will enjoy:
* Dividends
* Tier-based fee reductions
* Ability to vote for new features
* Ability to vote to spend DoubleDAO reserve funds
Why should MLabs build this protocol?
MLabs has quickly become one of the premier development firms in the Cardano Ecosystem.
We are a Plutus Partner that has made significant contributions to the space. We currently employ over 60 developers working with partners such as:
* Liqwid
* SundaeSwap
* Ardana
* CardStarter
* PlayerMint
With many more projects in the early stages of development.
Because of our work on many of these early-stage projects, we have one of the community's largest groups of Haskell / Plutus developers. Developers working on DoubleDAO will bring their collective experience to the project and ensure a successful launch.
Funding:
Total: $72,000
Breakdown:
Feature Total Time
Create DoubleDOA Mothership 120
Basic Dao Template 80
Thread ID-Based Proposals 80
Voting Mechanisms 80
Upkeep Bots 80
Automated DevOps Rollout 120
Audit Prep 80
Spec 80
Subtotal - 600
Change Budget 180
Total Time 900 hours
Total Cost $72,000
Number of Devs 2
Weeks to Launch 24
Features / MVP:
Core design requirements:
-- DoubleDAO mothership, which manages signups, user settings, and basic DAO deployment
-- Basic DAO template with optional features (e.g., deposits/withdrawals, reward distributions, voting structures)
-- Thread ID-based proposals
-- Voting mechanisms
Off-chain requirements:
-- Upkeep bots
-- Automated DevOps rollout
Features of V2 and beyond:
-- Treasury template
-- Reserve funds spending proposal
-- Optimizations of treasury fund yields
-- Unique token ownership and minting delegation to allow maintaining a single currency across multiple versions of the protocol
What success looks like:
By the first month:
* Select a developer to head the project
* Complete the full spec
* Select a second developer
Begin work on core functionalities
* By the 3rd month:
* Basic functionalities of the DoubleDAO mothership
* Basic template mix-and-match functionality
By the 6th month:
* Integrate voting mechanisms
* Integrate robust governance including token holders' rights
* Basic off-chain and ecosystem support
By the 12th month (year):
* General testing
* Audit prep
* Audit
Expected Launch:
* 4th quarter 2022
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
MLabs is an IOG partner. We have over 65 Haskell developers and some of the ecosystem's most prominent clients – SundaeSwap, Liqwid, etc.