wadaDAO

wadaDAO Design

Wada is designing a decentralized autonomous organization to facilitate its support to those seeking to build on the Cardano network. Our hope is to build a DAO that facilitates the exchange of ideas, value, and culture on the Cardano blockchain.

We are working from first principles to build our DAO. Some of the questions we've posed to ourselves are:

• What are treasury management systems and what metrics need to be in place to assess the performance of a treasury?
• What is voting and its effect on organizing complex systems?
• Should a voting system be invariable or flexible?
• Should there one voting mechanism or several?
• How should DIDs interact with a DAO?
• What role should a native token play in a public DAO ecosystem?
• What emerging technologies should be considered as the sustainability of the DAO is hypothesized?
• How should the DAO be changed?
• What elements of the DAO should be unchangeable?
• Many more...

In our opinion these types of questions are first principle questions and are fundamental to developing tooling that results in sustainable DAO infrastructure. Furthermore, we think the problem to be solved is one that revolves around inducing social cooperation. Once social cooperation models have reached a specified degree of success, we will then establish a framework for developing the tools to reflect those contentions. How do we cooperate with each other to make progress on shared goals in a sustainable way. What incentives need to be in place to capture the imagination and motivate the behaviors of the actors in the system?

The wadaDAO will function similarly to other DAOs in that it will be built using the basic components of a DAO.

• Purpose
• Treasury
• Utility token - Accessing the resources on the network
• Governance
• Governance incentive scheme
• Voting mechanism
• Dashboard (DAO Visibility)

wadaDAO Mission

wadaDAO is a decentralizing autonomous value-sharing network that uses socio-economic incentives to facilitate mutually-beneficial symbiotic relationships . The mission of wadaDAO is to unlock the potential of Africa, the African Diaspora, and other ethnic identities by using distributed ledger technology (DLT), AI, and other emerging technologies.

wadaDAO will provide the core building blocks needed to build out the core infrastructural elements needed for exercising economic sovereignty for African and other peoples. It is Wada's hope to enable a flexible, secure, frictionless value-transfer infrastructure that's accessible to all participants in the African economy.

wadaDAO services :

• wadaMint - NFT minting service
• Issuing DIDs and credentials
• Connecting seekers with providers (intentionally broad)
• Funding projects
• Lending
• Remittance services
• Traceability solutions
• Analytics
• DeFi functions
• More...

Partnerships with Photrek and Singularity.NET

Wada is working in conjunction with Photrek to analyze and model specific DAO functionality. Photrek's expertise is in research and development to prove out concepts, create actionable intelligence, and build dependable systems. We're excited to work with Photrek and with this relationship help to anchor wadaDAO's risk mitigation strategy.

Wada is also working in conjunction with Singulairty.net to bring AI atop the compute layer of wadaDAO. The Wada team participated in an accelerator with 1000 Black Voices out of the UK and was able to get direct access to engineers and other resources at Singularity.net. We are excited to continue the relationship with Singularity.net and expect fruitful collaboration with the organization.

We see wadaDAO as an alternative to current methods of capital deployment and community engagement on the African continent, in the African diaspora, and wherever the services are valued . It's a tall order although everyone on the team has been working towards a similar outcome for decades and we're committed to bringing Web3 and other emerging technologies to bear on the African continent.

Proposing Team:

• Wada network (Sidney Nicholas, Megan Hess)
• Phoetrek (Kenric Nelson)

Roadmap

• Month 1 - Build out current membership portal and create additional plugin
• Month 2 - Implement testnet voting functionality into Wada's existing membership portal
• Month 3 - Model the first iteration for Wada's treasury management system
• Month 4 - Implement treasury management model (testnet) within Wada's portal (for core members and main Hubs as a trial)
• Month 5 - Analyze and refine models based on feedback from Wada users
• Month 6 - Wada voting and treasury management to mainnet (Alpha)
• Month 7 -  Apply and analyze voting and treasury models
• Month 9 - Uncritical treasury and voting on mainnet (testing phase)

Budget - $37,800

• Research and modeling (Design/architecture team) - $15k (Voting, Treasury)
• Model testing (Research modeling exerts) - $7k
• Developer motivations - $13k (PHP, Interface-front end JavaScript)
• Team fees - $2.8k

Auditability:

What success looks like:

Main deliverable for 6 months is wadaDAO white paper outline and DAO design roadmap. We will also be starting to implement some of our treasury management and voting tooling through our existing portal.