DAPS DAO is live!!
3 Long-term (3yrs) community members have been added as the first 3 DAO members to start the process which are:
Prince of Crypto
What does it mean? The launch of the official DAPS DAO means that DAPS is now officially handed over from Adel and Andrew in leadership to the above 3 community members and anyone else who joins the DAO will have a vote share in the operations of DAPS project. Adel and Andrew will assist with some transitioning processes including the handover of control of all DAPS properties meaning social media accounts, Github, the servers and introduction to exchanges.
Dean agreed to take control of all the DAPS properties (except the servers), thanks Dean!
No No agreed to take control of the AWS (servers) Digital Ocean and MongoDB. These 3 services run the project including the website, block explorer, web wallets, seed nodes and API etc. Dean did a KYC check between him and No No.
Dean and No No understand their responsibility to look after DAPS assets and to keep them secure. They will not be handing over any properties to DAO members without a solid process to ensure safety and security. What these processes are is up to Dean and No No to decide and the other DAO members can have their input and voting by being part of the DAO.
Using a DAO is the best and most secure way to move the project fully in the control of the community itself. We are excited to move DAPS officially onto a DAO and let the community drive the future of the project. No centralized funds, no centralized decisions, maximum identity privacy as you don’t have to be known by anyone to be on a DAO.
The DAO members will have their own communication channel to further discuss proposals and brainstorm. The DAO will also need to vote on who gets to manage the DAPS properties for example:
Social media channels
Discord server ownership
Amazon and Digital ocean bills and access
The signing of legal agreements with exchanges and 3rd party service providers
Join DAPS DAO:
DAO seats are $500 per 1 share vote to begin with. This will be limited to only 1 share per person to start with until about 15 people are reached in the DAO so as to ensure that not one person buys lots of shares for themselves from the start and then has majority control over the voting system. The loot functionality will not be used for the DAPS DAO, the DAO members are only added by getting a vote share, no shares in the loot.
The funds collected in the DAO bank from membership purchases will be used for the bills and anything else the DAO members vote on and approve to be paid.
Remember this is just a stepping stone to get DAPS moved into a DAO community project. Once the full handover is done, the DAO can always vote on anything else the community wants to do with the project including moving to another DAO setup, abolishing the DAO or any other project dynamics that the community wants to change. This solution doesn’t necessarily mean it is the final solution for DAPS and that is what makes DAO’s so wonderful, is that anything can be proposed and voted on by the community. :)
DAO setup details:
Network — ETH mainnet
Tokens available to pay for your joining fee: Dai, USDT, USDC (soon), Link, WETH and ENJ. More tokens can be added by proposals and voting using the DAO.
Wallet needed to interact with DAOhaus: Metamask is recommended.
DAO steps to join:
- Have a wallet (Metamask) with ETH for gas fees and also $500 worth in any of the above tokens to apply for your membership joining fee.
- Go to the DAPS DAO and go to the proposals section, click ‘new proposal’ and select ‘membership’ as your proposal type.
- Add title: New membership — Shares requested 1 — Tribute offer as $500 in your selected available token — click on ‘additional options’ and select ‘applicant’ and click SUBMIT.
- The DAO will then receive your proposal and someone needs to sponsor / approve your application and then it will be voted on (just needs majority of current members) and then approved.
- Congrats you are then a DAPS DAO member with 1 share in voting rights on any proposals submitted.
- DAO members can decide on how they want to vet people that joined as the owner of that wallet to be added to closed or open chats that discuss DAO operations.
Once you join the DAO you need to contact Dean on Telegram or Discord with your screenshot from your wallet showing the DAO transaction (to prove that it is you) to be added to the DAO members group chat.
Discord: Deantoshi GLYPHamoto#1880
ALWAYS CHECK DETAILS — BE CAREFUL OF SCAMMERS OR FAKE ACCOUNTS
Navigating within a DAO:
Home: Overview of bank and recent activity
Proposals: Submit, view and vote on proposals
Bank: View asset balances and assets
Members: View members, their details, and recent activity
Settings: View DAO contract information and set metadata
Apps: View and add apps to get more superpowers for a DAO
Allies: View DAO on DAO membership, displays DAOs your DAO is a part of
Profile: View your profile page, only information relevant to you displays here
Community Links: Links to external community resources like chat, blog, website, etc
It is important that you make yourself familiar with other functions of DAO’s for example:
Shares are granted to members in order to allow them to vote on proposals in the DAO. Shares also represent a claim on the tokens held in the DAO. Shares can neither be exchanged or sold to other members of the DAO.
This is part of the magic of Moloch. Rage Quit allows a member or Loot holder of the DAO to leave with all or part of their share of the tokens. Imagine a DAO that has 1000 DAI, 50 Shares, and 50 Loot. That means if you own 10 Shares of the DAO and ragequit all of your shares, you’d leave with 100 DAI, or 10% of the treasury.
A proposal to kick out a member of the DAO. Converts any Shares they may have into Loot, thereby removing voting power. Warning once a member is guildkicked, they become jailed and cannot be added as a member ever again.
Status of a member after a successful guildkick. Can be ragekicked at this time.
After a successful GuildKick, anyone can ragekick that member. Ragekick acts exactly as a ragequit, burning their Loot and returning their proportionate tokens.
The bank is the core inventory of the DAO and can hold up to 200 different ERC-20 tokens. All members share direct ownership of the bank based on their Shares and/or Loot in relation to one another.
Anyone who is a member, or has some funds in internal balances, will have a profile view within the DAO.
From here you can:
View Shares/Loot and Exit Amount (pro-rata claim on banks assets based on current share value)
View recent activity within the DAO
View and withdraw any internal balances
Ragequit :_( 16 docs/profile.mdx
Join or Add Members
Withdraw internal balance
We encourage everyone to join as DAO members as soon as possible so that voting can take place and a full handover can be completed to the community by the end of this week. AWS account needs to be paid soon asap. Donated funds so far are sent to No No (new AWS acc owner) to pay towards getting the outstanding bills settled. The remaining outstanding funds to be contributed from the DAO bank.
Current DAO wallets / members info:
No No: Old address (removed) - 0x5fe1510060e814906dD8456e7DC5c1B230b7c267
New address and current - 0xdfa558b53b6996b4ced876f2b57a58ebbef743d4
Prince of Crypto: 0x146f64E9299287119BC0ca609E2669C34F6427f0
This is a new journey for DAPS world, one that is now up to all of you to decide the future and direction of the project. We thank Adel and Andrew in the leadership roles for getting the product researched, built and delivered including complex airdrop processes, getting exchange listings, partnerships, managing service providers, developers, teams, community and business management for 3 years. We wish them well in their future endeavors as the DAPS community takes over the reins moving forward to keep building the project.
Privacy is a right and in the near future, the demand for privacy will be bigger than ever before.
Long live DAPS!