Starcoin DAO is a digital world defined by smart contracts, which retain and owns all the rights and interests of Starcoin. It aims to coordinate the demands and interests of all parties involved in the Starcoin ecosystem through an on-chain governance mechanism to build the Starcoin ecosystem together.
Why do we need Starcoin DAO?
Currently, most of the new public chains’ ecological cooperation is to raise capital via a legal entity and then offer Token on the chain; investors get Token but do not have the right to govern the company. If the fundraising company does not use the funds to build the ecosystem of the public chain, there is nothing the investors can do.
Fundraising uses smart contracts to define the rights and obligations of the participating parties, and smart contracts will resolve the disputes and disagreements of the parties. At the same time, DAO is the digital carrier that carries such rights and obligations.
In this way, the ecological building of public chains evolves from individual and company-driven to DAO-driven, which can make the ecological building decisions more decentralized, transparent, and anti-fragile and reduce the risk of public chains relying on individuals or companies.
For this purpose, we developed a one-stop platform of SBT-based comprehensive tools for building DAO and iteratively optimized the governance mechanism of Starcoin DAO into the practice of Starcoin DAO 2.0 phase.
Starcoin DAO 2.0 Practice Platform: DAOSpace
Starcoin’s DAOSpace is a one-stop platform for code-free customization of DAOs based on DAO templates and combinable plug-in mechanisms. Its inherent technical framework is to develop a framework and tools that can be adapted to different purposes and provide an easy way to combine them in the form of DApps, which can be used out-of-the-box or deeply customized through a freely extensible plug-in system to maximize users’ multi-scenario needs.
If you are interested, please see our earlier articles：
What are the innovations in Starcoin DAO 2.0?
The innovation of Starcoin DAO 2.0 phase starts with the development of DAOSpace, a one-stop codeless building platform for DAO.
In terms of technical innovation, Starcoin DAO is a DAO master defined through Starcoin DAOSpace, which is the DAO framework in the Starcoin Framework system contract. Starcoin DAO also carries the responsibility of upgrading the governance of the Starcoin Framework, which Starcoin DAO itself is self-evolving and self-explanatory.
In terms of governance innovation, Starcoin DAO, based on the multi-functional support of the DAOSpace platform, tries to recruit partners from various industries to join Starcoin DAO and participate in the incubation and iteration of DAOSpace together and continuously tries to develop and optimize the functions on DAOSpace platform according to the needs of real application scenarios of DAO in the process of joint participation in governance.
Therefore, Starcoin DAO 2.0 is the first time to develop and optimize the DAO building platform in the form of DAO, explore the development and practice of DAO platform tools, whether to optimize the current dilemma to be solved in the DAO industry, and the innovative application of the governance mechanism is the core purpose of this phase, which is also the most practical value of innovation in the industry.
Starcoin DAO 2.0 Governance Design
1）StarcoinDAO 2.0 Governance Principle
- Minimal governance principle, if a stable equilibrium can be reached by program calculation or market game mechanism, no governance is needed.
- The principle of local consensus governance minimizes global governance and delegates specific functions to other professional DAOs for decision-making.
2）Governance model of StarcoinDAO 2.0
- Starcoin DAO is an open DAO with no access restrictions.
- The members of the Starcoin DAO are governed by on-chain voting, and each member’s SBT value in the DAO represents its voting weight.
3）Governance responsibilities of StarcoinDAO
- Voting on the hard fork feature of Starcoin public chain.
- Voting on the adjustment of consensus parameters of the Starcoin public chain.
- Upgrade of Starcoin Framework, the system contract of Starcoin public chain.
- Disposal of the STC reserved for ecological construction.
- Disposal of the funds obtained through the public offering.
Starcoin DAO 2.0 Launch Plan
- After the Starcoin Framework v12 release upgrade, the system Genesis account 0x1 will be upgraded to a contract account, which represents the account address of StarcoinDAO. At this point, the DAO membership is empty, and Starcoin DAO begins a one-week launch preparation phase, during which Starcoin DAO cannot perform on-chain governance.
- The R&D and eco-incentive Tokens reserved at the Starcoin main net launch, including the unreleased portion, are transferred from the Foundation account (0xA550C18) to the Starcoin DAO account address (0x1).
- Starcoin DAO member SBT airdrop. The Starcoin DAO membership SBT will be cast for on-chain accounts before the first anniversary of the Starcoin mainline through certain rules (see later). eligible accounts will automatically become Starcoin DAO members after receiving the cast.
- Open the Starcoin DAO governance pledge pool. Pledge Starcoin to receive StarcoinDAO governance SBTs, the number of which depends on the amount and length of the pledge.
- Opened a public eco-building program to bring in more investment institutions and eco-building companies and teams and launched an eco-building program: Seed Member Program.
- Starcoin DAO 2.0 was officially launched one week after the governance consensus was negotiated.
Starcoin DAO 2.0 Co-Building Program: Seed Member Program
Seed Member Program is a sustainable and empowering cooperation program provided by Starcoin for the partners who participate in ecosystem Co-building.
To better build the Starcoin ecosystem, it is important to recruit more institutional members to build the ecosystem, so Starcoin DAO 2.0 proposes the Seed Member Program for the first time.
Starcoin DAO will select only one high-quality and potential project from different directions of the ecological track as an important support project and provide full support for funding, traffic, technology, and operation.
2）How to get on board
Cooperation with project resources will allow us to undertake the technical tasks of ecological building or share ecological resources to complement each other’s strengths and build a sustainable ecosystem. The period is 4 years, linear release, and you can get the SBT of the equivalent STC at once.
3）What is it worth to you
- DAO Prime Member
Have core stakeholder voting rights to drive voting on important ideas and matters for ecosystem development.
- Governance based on exclusive SBT
Have the right to govern key projects of the ecosystem development based on SBT and deeply participate in the ecosystem co-build and development.
- Maximize APR benefits
Receive APR benefits from competitively priced incentives.
- Rules & Benefits
- STC in exchange for SBT.
Stake STC to obtain SBT; the SBT obtained is equal to the STC amount and time. SBT = STC amount * Staking period.
- Staking period.
4 years, 6 years, 8 years.
- Earnings from Staking STC.
Earnings from Staking STC: Starting from 2% per annum, prorated according to the Staking Period, e.g., 8% per annum for a 4-year Staking Period.
The innovation and practice of Starcoin DAO 2.0 phase is the DAO-style incubation of DAOSpace, which aims to focus on how to allow any person or organization to participate in the practice of DAO, to be rewarded according to the rules of automatic execution of smart contracts, to minimize the trust required for cooperation with the Dao platform, and to promote the Dao tool further to serve the governance mechanism to achieve value exchange truly. Meanwhile, the Seed Member Program is a DAO-style cooperative growth program for project partners with sustainable eco-building capabilities and intentions.
Regardless of the way of participation, we look forward to more pioneers with vitality in trying to explore new ecological growth practices because every trust and support is precious to the advancement of the Web3 era.
Applications can be made at the link below, or keep following us on social media and join the Starcoin community to participate in the discussion.
* The first period ends on December 31, 2022
* Starcoin DAO has the final right to explain the campaign
Starcoin provides the utmost security from the origin via its enhanced PoW consensus and Secure smart contract, using the language of Move. Through layered and flexible interoperability, it optimizes the building of ecosystems such as DeFi, NFTs, Gaming, etc., with higher efficiency and convenience. This process redefines value by empowering every participant in the ecosystem to enjoy the multiplication of values.
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