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Idavoll Network builds a complete set of governance tools and adopts a modular design, aiming to provide a universal DAO service management platform that can cross-chain.
Written by: Alice Qu
In the eleventh year of Bitcoin’s birth, the landing of a large number of DeFi applications officially brought the wave of decentralization, and the decentralized autonomous organization DAO (Decentralized Autonomous Organization), which was once looked down by the market, also re-entered the center of the stage. DAO is a next-generation decentralized organization that coordinates the resources of the community to create value for its members in a sustainable manner. DAO is not only a necessary component of Web 3.0, but also brings unlimited possibilities for the evolution of social structure.
As the DAO on Polkadot, Idavoll hopes to provide a general DAO service management platform to quickly help users create DAO organizations and provide and manage the functions of decentralized organizations on the blockchain, while solving the current high cost of DAO on the Ethereum mainnet. , Low-performance security and a large number of centralization issues.
The problem Idavoll Network wants to solve
In 2016, the first DAO, The DAO, was developed and became the world’s largest crowdfunding project at that time. Since then, a series of DAOs have been launched, such as Aragon DAO, DashDAO and so on.
The most suitable organization and implementation for DAO is a decentralized on-chain governance solution. However, DAO still faces some problems in the actual landing process, such as security issues, legal issues, immature technology, and intelligent governance problems.
Currently, DAO governance on Ethereum faces these two choices: Either use a low-cost and high-performance off-chain voting system (higher participation, but there are centralization and security risks), or use high cost but high Security on-chain voting system.
What is Idavoll Network
Idavoll Network is currently the first and only cross-chain DAO protocol that allows users, tokens and DApps (decentralized applications) in different blockchain ecosystems to interact with each other. Idavoll Network provides a framework for real organizations on the blockchain to resolve disputes and act as a governing body.
The essence of Idavoll DAO is to enable its members to establish resource allocation, consensus and voting mechanisms, etc., all of which are organized in a unified smart contract logic. Responsibilities are divided in advance. Organizations (companies, open source projects, NGOs, foundations, hedge funds…) engaged in the work of the Idavoll agreement delegate decision-making to their members, control their activities and adjudicate disputes on the chain, and at the same time completely Maintain decentralization. This is a self-sufficient world, where every organization can renew itself and maintain its identity forever.
Idavoll Network will build a complete set of governance tools and adopt a modular design, so that any organization can legally and transparently manage community voting, funds and organization’s own activities. Therefore, Idavoll Network provides some templates for creating organization types: such as company, membership, prestige, and other types of templates for defining governance modules for different types of organizations. It aims to help users easily create an organizational model compatible with individual needs and provide safe linear decision-making process control, so that members of the organization can effectively complete the decision-making process.
Advantages of Idavoll Network
Idavoll is developed based on the Substrate development framework. The architects of Idavoll can upgrade without forks and can easily extend DAO functions. Idavoll will be interconnected with the Polkadot parachain to provide governance functions for the Polkadot ecosystem and at the same time share the security of Polkadot.
Idavoll Network pays attention to the rigor and security of the organization’s governance process and the organization’s decision-making process. The strict process specifications it specifies can ensure the safety of assets within the organization. At the same time, various management modules: such as the decision-making process, the voting cycle of the proposal, the threshold of the minimum number of votes for passing the proposal, and the execution content of the passing proposal, etc. can be flexibly defined parameters, thereby establishing a general, friendly and flexible operation management platform.
In addition, DAO members can resolve controversial issues arising from the DAO governance process through the Idavoll court: When a dispute occurs, DAO members can voluntarily appeal, but the appeal requires a certain amount of assets to be mortgaged to prevent malicious behavior. After the Idavoll court receives an appeal request, it will select participating users from the Idavoll community and vote on the appeal. Idavoll Court is an effective method to resolve DAO disputes. At the same time, Idavoll Court can be combined with Idavoll’s on-chain governance to ensure the security and decentralization of the entire process.
The cross-chain execution function of Idavoll Network can also provide community governance functions for other major chains (such as Ethereum). Through cross-chain, project tokens on Ethereum can be directly obtained and managed on the Idavoll chain, and all governance will take action on the chain. After the proposal is passed, the proposal will be automatically executed on the Ethereum chain through cross-chain execution, thereby forming a complete on-chain governance function.
Alina, co-founder of Idavoll Network, served as a top strategic consultant at McKinsey in Zurich. In addition, she built UniDAO on the Aragon platform. UniDAO is an asset management DAO, which is also the first DAO used for DeFi management. After that, she joined Equilibrium and started her career in Polkadot ecology. After leaving Equilibrium, she established the Idavoll Network and brought the DAO model into the Polkadot ecosystem.
Abhilash, the co-founder of Idavoll Network, has at least 5 years of experience in business development, marketing and international sales in the blockchain field. He concentrated his power on global financial technology and encryption companies, and worked closely with multiple blockchain projects to promote the strategy of global expansion plans and instructions.
Competitive product analysis: Aragon and Snapshot
Idavoll Network believes that their main competitor is Aragon: Aragon is a DApp developed based on the Ethereum mainnet, allowing anyone to create and manage organizations. All voting in Aragon is conducted on the chain, which means higher security and is completely decentralized, but it also means high fees and slow processing speed. The Ethereum network has now been blocked by DeFi transactions, which has severely affected user participation and the ability to participate in on-chain governance. If the DAO organization cannot effectively collect governance opinions from a wide range of users, the “whale effect” will dominate the on-chain governance process, contrary to the original intention of the DAO.
Another competitor is Snapshot: In order to solve the problems caused by the gradual congestion of Ethereum, the decentralized transaction protocol Balancer has launched a fully open source off-chain governance voting platform Snapshot to solve the problem of high gas fees on the Ethereum chain. . Snapshot has quickly become the preferred voting solution for well-known communities such as Yearn and Aave, but there are still a lot of centralization issues in the voting process of Snapshot. On the surface, token holders can vote according to their own preferences, but the actual on-chain execution must be done in other ways. For example, relying on trusted “multi-signature” will check the voting results and execute the token holder’s choice. From the perspective of centralization and security, this method has great risks, and may expose members of “multi-signature” to undesirable issues such as the legal responsibility of community decision-making.
Idavoll will not have any trouble in this regard and will fundamentally solve these problems:
- Based on Substrate development, which can efficiently support DAO governance;
- Unique non-fork upgrade mechanism, which is conducive to the expansion of the system;
- The unique pallet guarantee rules complete the voting and execution on the chain in a safe and decentralized manner.
The future planning of Idavoll Network is divided into three stages:
Before the first quarter of 2021, realize the parachain developed based on the substrate2.0 framework, improve the basic functions including organization, voting, token and asset management modules, and complete the construction of the basic organizational structure of the DAO.
Before the third quarter of 2021, develop more templates and functional modules in the DAO governance, improve the basic functions of the dispute agreement and Idavoll court, and open the SDK to more DApps.
Before the second quarter of 2022: Implement the function of a custom DAO module to provide services for any type of DAO, and build a complete and open SDK function platform to support DAO governance on multiple chains through cross-chain.
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