How to Build DAO using DAOStack Alchemy [Governance Layer for snglsdao]
snglsDAO represents a DAO governance layer for SingularDTV project. In other words, DAO layer is a decentralized administrative panel, which helps manage the network, change or adjust parameters and fulfill voting processes.
DAO abbreviation stands for Decentralized Autonomous Organization and represents a governance layer of a network. It is usually implemented with the aim to enable protocol users to vote and participate in the network enhancement processes.
In this article, we want to describe one of Blaize’s recent successful use case for SingularDTV project. We will also pay particular attention to the main points of starting your DAO using DAOStack alchemy.
How we build dao Architecture
One of the first steps of each project is to establish an appropriate framework for project implementation. As long as the project is totally new on the market, there is no similar solution to get a peek at.
The other thing is that there will never be an ideal platform with all needed features included, so it is important to pick one, which can be flexible and adaptable to certain project’s changes.
Find out more about types and differentiations of blockchain frameworks in our article Best Blockchain Development Platforms and choose the most suitable for your project!
In snglsDAO use case the purpose was to reduce human intervention as much as possible, so using DAO (Decentralized Autonomous Organization) approach for building the governance layer was chosen as the best solution. Governance is the most important part of DAO-structured blockchains, therefore it needs highly qualified developers with experience in building similar decentralized organizations.
One of the main challenges was to create the logic of the entire system because we needed to build DAO while not using a traditional DAOStack. Blaize has been involved in snglsDAO projects from both sides – decentralized architecture and front-end development. It helped to provide a tuned and coherent project development and further support.
Need a complex solution for your DAO project? Contact Blaize developers to bring your idea into reality!
DAO governance development
In order to be independent from DAOStack, we built a separate framework using their hub as a fundament. In fact, we refactored it, optimized and empowered it with unique features we needed. One of the crucial points was creating separate contracts that have to be built aside but linked with the existing DAO.
When it comes to the architecture structure so, generally, there is no backend. DAO is based on a decentralized layer, which is represented by The Graph protocol and blockchain layer represented by a set of smart contracts. Web app and decentralized layers communicate with the contracts layer directly.
Decentralized layer
The decentralized layer is represented by The Graph protocol. The Graph is a service that allows to set up the index for the contracts and retrieve the contract data directly. Therefore, it allows omitting development of a proprietary indexing server which considerably improves system’s security and interoperability.
The Graph is designed with the aim of processing a huge number of requests in a very short time. This makes it more attractive than working directly with Ethereum node, whose capabilities are significantly limited. With its adoption, the switching between dApps becomes safe and seamless.
Contract layer
Contract layer is written on Solidity and based on Ethereum blockchain in order to reduce risks and enable its future integration with other applications. The creation of a decentralized autonomous organization is a complex and time-consuming process that requires a broader knowledge of smart contracts running that is why a team with previous experience in deploying projects on Ethereum is a necessity.
Contract layer is a set of DAOStack contracts that reflect the core of the system. Besides it, there was a need to build a separate contract, which is not pegged to DAO. The main aim of this contract is to configure certain parameters of DAO governance, such as listing fees or transaction fees.
DAO governance Front-end development
In snglsDAO use case, we configure the system so that the web app layer communicates directly with the smart contracts of DAO and with The Graph protocol.
Web app layer
Web app layer is built on React and represents an adapted and modified web from the DAOStack alchemy with adjustment of all the unique features we needed.
In order to create a more convenient and user-friendly web, we made it configurable with 3Box. This allows participants to log in to the system easily with no need for new account creation because all user data is transferred automatically from the 3Box service.
UI/UX
UI/UX design and implementation were an important part of snglsDAO project. Therefore, an outsourcing company that has front-end development experts was required.
In Blaize, we have a group of dedicated experts for front-end development. This allows us to deliver complex and well-organized solutions to our clients prepared and developed by one tuned team.
Blaize developers have implemented both web and mobile designs for snglsDAO project.
As long as SingularDTV along with snglsDAO is a very new project on the market, it was a challenge to perform an appropriate UX. The main obstacle to consider is to create a user experience that reflects and corresponds with the intentions, the technology wants to bring.
Coordinated and coherent work of front-end and blockchain technology experts helped to perform DAO UX in the best way!
snglsdao new governance Token
SNGLS Protocol had been using its own SNGLS token before, but it needed to be adapted in order to be compatible with the new system. One of the main features we needed to implement, was to make it revenue claim-free and switch it to pure ERC-20 standard token. Further, this should lead to SGT inclusion in the main DEX lists and, therefore, make it accessible everywhere.
Firstly, the idea was to make a fork and use only new SGT token, but after a detailed assessment it appeared to be impossible due to certain law regulations, so the creation of an airdrop between old and new token was needed.
SGT token airdrop
The new token is credited in the same ratio as the old token, thus 100 SGT tokens are credited for 100 sngls.
snglsDAO governance SGT token airdrop was successfully made on Binance. It can be found and traded on such platforms as Binance, Hotbit and Uniswap V2.
The new SGT token has its utility value and is pegged to DAO. With it help participants can take part in DAO governance, voting process, or protocol modifications. For example, users are able to change network commissions or protocol parameters.
Need to create a new token or an airdrop for the existing one? Blaize experts are here to help!
Reputation level in DAO governance
SGTs are locked for reputation which gives users the ability to vote. Reputation level is an important part of voting, which displays the credibility of participants and gives the power for making a decision. The reputation level of a certain participant grows in proportion to the amount of locked SGT tokens.
At the same time, we have provided the possibility of using the old token. Users are still able to buy and transfer it, but the rewards will no longer be credited. Also, old sngls tokens can be staked in order to get rid of the commission on the network.
Conclusion
The creation of SingularDTV is an important stage on the way to build a decentralized world, and Blaize team is very proud of being a part of it. As being the heart of the entire system, the design and implementation of a “living” architecture and appropriate system’s logic were the main challenges.
Another complexity was the creation of airdrop from the old to the new SGT token. Implementation of the following became an essential part of SingularDTV widespread and worldwide accessibility.
Want to create a blockchain-based DAO for your project? Contact us and get a project estimation now!
The main core of the network reflects a decentralized autonomous system based on three layers: web application, smart contract and The Graph.
Using The Graph was one of the important decisions for this project, which helped us to make sure of its importance and necessity. The Graph is a very powerful tool, which solves a rich list of problems connected with data storing, so now we often apply this solution to other projects.
