Name of DAO:
DO or DAOn’t
Application type:
Investment
Proposal overview
DO or DAOn’t supports new DAO joiners to evaluate the transparency and decentralization of a DAO. With the help of our trust scores, new joiners will choose DAOs that align with their values. We are in the nascent stages of building our DAO and need funds to materialize our tools. Our target audience are new DAO joiners, and in later stages, DAOs themselves will come to us for recommendations on how to better improve their performance based on decentralization and transparency. Our product is blockchain agnostic. The prototype was developed during ETH Denver 2022 Hackathon.
App Architecture : Off-chain DAO governance data is queried using BoardRoom API and On-chain DAO governance data using Subgraph API. After post-processing data from Covalent API, we calculate and demonstrate on-chain real-time data and historic data about DAO treasury and token Distribution. This data is stored in a decentralized manner using IPFS. An innovative hybrid governance smart contracts solution for DAO data is developed by integrating benefits of off-chain voting and on-chain immutability by using Chainlink keepers which stores IPFS proposal data daily on-chain using ERC721 metadata. Our front end provides data visualization and trust score metrics which enables well-informed decision to join a DAO to visitors.
Problem to be solved
More and more people are currently getting interested in joining a DAO and also see them as a real alternative to a traditional corporate job. However, after various scams that have already happened in the DAO world, how do people know that they can trust a DAO and if it’s even a good fit for them? There are many questions to consider before joining a DAO:
- Is the community in this DAO active?
- Do they have a working governance?
- Is the token equally distributed?
- Are they transparent?
- Is the treasury growing?
- Is it fun to work in this DAO?
Market and Peer Analysis
Currently, there are existing tools like DeepDAO out there that give insights into various DAOs. The caveat is that for newbies, it is hard to understand what all those metrics really mean. We shall provide an alternative for new joiners to go to our website and look for the DAO they are interested in. The first thing they will notice is our trust score. Our trust score is built up of different metrics. The highest trust score is 100 points and the higher the score is, the more decentralized, transparent, and active the DAO is. In general, the score is calculated based on various metrics. For this MVP, we have the following categories under trust scores.
Revenue Streams
- Enhanced credibility
DAOs can contact us to conduct an audit to receive a verification checkmark. This checkmark adds extra points to the trust score.
- In-depth analytics
We provide in-depth analytics and reviews to support DAOs to further increase their credibility.
- Preference data
We provide insights into anonymized user searches and preferences to help DAOs understand the members needs.
Implementation
The priority of each metrics is based on interviews and a survey we conducted with different DAO members. But since we still know that our defined trust score is quite subjective, we also allow users the option to set and personalize their own preferences. After updating the preferences, the trust score then gets calculated based on those changed priorities.
Funding Proposal Ask:
$300,000
Metrics for success
- Trust Score Functionality
- Hybrid Governance Smart Contracts Audit Pass
- Listed DAO Metrics Test and Audit : 100 (Q2), 500 (Q3), 5000 (Q4)
- Monthly Visits : 250 (Q3), 1000 (Q4)
- DAO Onboarding and Weekly Educational Content (Q4)
Core Team
Valerie Grappendorf (UX/UI Designer)
Sianoi Kimari (Product, Organizational Development & Leadership Researcher, Data Analytics)
Mayur Mistry (Applications Developer & Design Technologist)
External links
Demo Video
Prototype
Github
Roadmap
Q1 2022
- Functional MVP
- API implementations
- Trust score functionality
- User research and interviews conducted
- Launch of Twitter page
- Proposals, grants defined
Q2 2022
- DoorDAOnt Beta Lauch (Testnet)
- UI-UX Survey and Feedback
- Smart Contracts Security
- Technical Review & Audit
Q3 2022
- DoorDAOnt Launch (Mainnet)
- Hiring Full Time Developers
- Advanced Features (AI, Trending DAOs)
- DAO Formation
Q4 2022
- AI Driven Metrics Launch
- Freemium Business Model Integration
- Org Development Advisory
- DAO Driven Features Implementation
Additional Information
Trust Score Calculations
The priority of each metrics is based on interviews and a survey we conducted with different DAO members. But since we still know that our defined trust score is quite subjective, we also allow users the option to set their own preferences. After updating the preferences, the trust score then gets calculated based on those changed priorities.
- Governance - 30 points
-
Considerations:
- Are there regular proposals and do members actively vote on them?
-
Measures
Average amount of completed proposals per month (last 6 months)
Average active voters per month (last 6 months)
- Token Distribution - 30 points
-
Considerations:
- Is the token equally / properly distributed?
- How can we make sure people don’t play the system, create many wallets and “fake” an equal distribution?
- Wallets who hold more than 5% of tokens and do not vote regularly are a red flag Proof of humanity: But what stops people to verify their main wallet with poh and then create various other wallets?
-
Parameter: All tokens / all token holder = amount of tokens for each member
-
Next phase:
Create different calculations depending on the size of the DAO (DAO with 1000 members has different distribution than DAO with 10k)
- Treasury - 20 points
-
Considerations:
- Does the DAO have a legit treasury?
- Is the treasury growing and moving?
-
Next phase:
- Where does the treasury come from?
- Like Crunchbase for DAOs
- Where does the treasury go?
- Are there recurring expenses?
- Does the treasury have a multi-sync wallet?
- Different calculations depending on the size of the DAO.
- Social Media - 10 points
-
Considerations:
-
Is the community active?
-
Is the growth natural?
-
Next phase:
- Include followers, engagement, tweet frequency
- Ratings/Reviews - 10 points
- Considerations:
- Do people enjoy being part of this DAO?
- How do we prevent scammers and liars?
- Anonymous review but we verify that they hold an NFT or token from this DAO → Only NFT and token holder can create a comment. Holders need to be holding the tokens for at least two weeks to create a comment.
- Next phase:
- Token rewards for posting rating → Incentive
Future Metrics
These are all our current metrics that we can get through various APIs. But there are more metrics and more information that we plan to include to improve our trust score further.
Examples:
- DAO structure: Who is working in this DAO and who is in the core team? Tools like Sobol.io or Discord roles
- Bounties and payouts: Dework or Utopia
- Twitter milestones: Coinfeeds
- Furthermore we also want to include a DAO comparison page.
- For us, DAOs are all about transparency and due to that it is only a matter of time until even more APIs open up and let us get their data to get even better insights. This means, the more DAO tools and DAO in general develop, the more insights people will gain through our tool.
Please ensure that your proposal meets the criteria necessary to be considered for a Harmony DAO bootstrap grant.
A team member will follow up in due course.
