OpenSwap DAO // OpenDAO // OpenTAO
Decentralised Autonomous Organization // Trusted Autonomous Organisation
The basic principle for this grant request is to develop a state of the art DAO contract generation application that not only openswap can use but any organisation. The main goal for the contracts is to seamlessly manage, though the use of multiple wallets/users (AKA protocol angels). The Angels will have the ability to submit dynamic contract execution through a voting platform. This will enable Angels to manage funds as they wish(given they all agree) through a decentralised consensus algorithm. Overall you will be able to do the following:
1: send transfers.
2: add liquidity to any protocol you wish.
3: wrap tokens
4: collect farming rewards
5: execute trades
6: remove liquidity,
7: deploy contracts in parallel to the DAO to add Functionality.
8: vote on approval of execution or deny the execution based on quorum and total votes
9: add farms to a DeFi protocol.
10: change farm coefficients.
11: declare new function calls.
Overall, this could be considered a multi managed dynamic contract manager with user consensus.
Another interesting feature is the fact that lambda users(given a certain supply(can be changed by vote)) can create proposals and submit ideas that all other users can vote upon.
Proposals will have statuses based on where the voting is at.
Stage 0: Angel/Protocol user submits proposal
Stage 1: angels vote to push proposal to general vote,
Stage 2: general vote
Stage 3: proposal is approved and applied,
Stage 4: proposal is denied and no action is taken.
This grant should also include the creation of our own dao which will also serve as proof of concept for the openDAO project.
We are also working on a decentralized Job manager but that will be considered in an other grant.
- Write Contracts
- Write SDK
- Test contracts locally
- Develop User Interface
- Deploy contracts on testnet with UI
- Open Testing on testnet
- Security Audit.
- Deployment on Mainnet
- Open DAO to external Organisations
- Deploy OpenDAO to all EVM compatible chains.
The DAO contract will be able to execute any tx on behalf of itself given the Angels agree. Only angels will be able to submit and vote on internal txs. This could be used to pay people, manage protocol funds. Receive donations, deploy other contracts etc…
The DAO will in turn be hooked up to a custom Job management contract which will manage jobs of internal workers as well as work rate, hours worked, all verifiable on chain. This will come as a later step. Maybe even a secondary grant.
User Vote token will be non transferable, non buyable, non sellable. Only way to get voting power is to earn it through protocol participation.
Angels will be Identified through the use of NFT. the NFT token will be sent to Angels. In the case an angel goes rogue or tries to sell the NFT, the NFT can be burnt through vote. Same applies to regular vote tokens if malicious intentions or spam arises.
As for licenses, we will keep the contracts open sourced but licensed in order to protect intellectual property. The ability to create new DAOs will however be open to anyone on any chain with a small fee for deployment of contracts. Which will be automated, only needing gas. OpenSwap mentality is against greed and therefore no fees will ever be put up. Same applies for taxation in any way.
This is a very complex set of contracts that will need a lot of testing and no rushing. Hopefully the grant itself will be sufficient in order to develop this never before seen self managing DAO .
For audits alone we expect to pay at least 30k usd. Workload will be large and will need the hire of multiple UI developers in order to develop the front end. On my part the development of contracts is already beyond the 200h mark and I still have much to do but it’s looking feasible and amazing.
Trusted and well established members of the community can propose to the team what they want applied or done on a protocol level.
Angels have the possibility to create execution proposals and vote whether they agree it should be executed.
Burnable ERC721 for Angel authentication. Managed by the DAO/TAO itself
Can manage its own treasury which includes unlimited possibilities including swapping, providing liquidity, collecting rewards, distributing rewards,
Can Interact with itself to change some of the core functionality and set different consensus parameters
Can add new features and contracts on top of original contracts to add functionality. For example: a contract that can send a given amount split into X users and their respective addresses.
Easy to use, self explanatory, function encoding.
OpenSwap will undertake a series of projects, most of which are mentioned in our roadmap. If we could submit each step as an individual grant that would be great. We could also propose an enormous single grant with all steps but i’d rather we do it on a per project basis. Giving us time to work or rest in between grant completion.
The following are planned but not listed in order:
MultiChain deployment of Openswap DEX (Multiple DEXs, One farm, One Token)
Accidental loss Insurance for openswap, and maybe others
Launchpad/ IDO for newer projects
Automated Tax declaration tooling for OpenSwap
//Open Finance Project//
CeFi reserve based stablecoin
Cefi POS(point of sale) terminal integration
And more to be thought out.
150k to 300k usd
Internal Angels: 5-9
External Users: 800+
Funds managed by DAO: 150k usd min.