PrimeDAO develops and tests D2D internally, which may be a new way of cooperation between organizations in the future.
Original title: “It’s time to collaborate between DAO and DAO”
Written by: PrimeDAO
Translation: bitfwd
The booming era of DAO is coming! In the past six months, PrimeDAO has strengthened DAO’s research and prototyping of DAO Interaction (D2D), in short, the way that DAO interact and negotiate with each other. Prime is pleased to propose a complete prototype ( Github ) that demonstrates the smallest feasible D2D mechanism using the Gnosis conditional token framework . The framework itself is very complex and requires writing an independent article to explain it, but if you are interested in D2D, please study those articles!
This blog summarizes what was discussed in more depth in previous work. For related background information, please see D2D Technical Report , D2D Summary 1 and Summary 2 [3] and D2D AMA
To express the D2D mechanism in very short words: it allows trustless trading of tokens between DAOs based on predetermined event conditions. which is:
- Unknowable: Any DAO that can issue external transaction calls can use Prime’s D2D mechanism. Whether you are running Gnosis Safe , Daohaus , or DAOstack, any governance framework can work.
- Trustlessness: When all the conditions are not met, all parties can withdraw any funds issued for D2D cooperation. Since there is no possibility of financial loss, a lot of negotiation costs are reduced. Either get the necessary funds to collaborate in the right direction, or without collaboration, each DAO can withdraw its funds.
- Flexibility: The D2D prototype surpasses the traditional hosting mechanism and allows for more flexible negotiation, making it closer to the existing real-world negotiation. Conditions can be added in real time to resolve any changes that may occur during the negotiation process. It is impossible to add conditions in real-time with a custom escrow smart contract.
- Elaboration: The conditions can be as simple or complex as the parties want. The complexity of the collaboration is determined by the parties who create the conditions, and they can choose between simple and simple conditions or complex and cumbersome conditions.
In addition to these main advantages, the mechanism has other more complex benefits, such as easy handling of multi-party binary and scalar results. You can understand these advantages according to your hobbies, but in general, these have been completed and delivered through painstaking research: now is the time to strengthen D2D collaboration.
The future of D2D
After Prime’s current strategic upgrade, it is planned to begin to develop an aggressive D2D roadmap.
Prime will develop a negotiation interface. In this interface, D2D negotiations can be promoted, approved and archived.
If this interface is missing, most D2D discussions need to be conducted in project forums or other communication channels. In this case, the space is relatively isolated.
This interface will allow users to:
Fill out the proposal through the template, specify all relevant information for the potential D2D collaboration, so as to clearly define the terms of the DAO agreement of its proposal. The completed information will be uploaded to IPFS.
Create on-chain conditions for two DAOs or a single DAO. For the latter, an open proposal slot will be created for future signature and processing by counterparties.
Just as the DAO interface can display current and past proposals, this interface will become a public archive of previous proposals driven by the D2D mechanism. This interface will provide collaboration-as-a-service functions for DAOs on Ethereum. Although brainstorming around the interface and creating an effective business model is still in its infancy, PrimeDAO’s goal is to charge for successful collaboration to maintain and manage the interface as a decentralized service provider.
What use cases will the interface support? The road map divided into three phases is as follows:
Check out the first common flow pool-the BAL x PRIME pool created by Balancer and Prime DAO!
Phase 1: Joint venture, common liquidity pool and token swap
The first use case of D2D is simple:
Co-funding joint ventures: The most important use case of the D2D prototype is that the Funding DAOs co-fund a new wallet that represents the joint venture.
Co-raising a liquidity pool: This use case is basically the same as co-financing a joint venture, except that the funds are not transferred to the wallet, but to a custom liquidity pool smart contract. The D2D mechanism will work in conjunction with the Prime Pool interface to facilitate these interactions.
Token transactions: Many DAOs want to conduct token transactions directly with each other, but they need to do it in a trustless manner under certain conditions.
Phase 2: Proposal transformation
Proposal change is a funding method that allows multiple groups or individuals to collaborate on a common proposal. It reverses the typical “proposal/DAO” relationship to promote the formation of cross-DAO programs, such as co-funding and sharing research. The D2D mechanism ensures that the initial contribution is met before initialization to facilitate proposal transformation.
The figure outlines potential examples of proposal transformation
Phase 3: Cross-chain D2D
As inter-chain assets, communication, and governance become more common, and there are more and more bridges between chains, the need to promote D2D mechanisms in a trustless manner will become more and more important. The third stage means extending the D2D mechanism to inter-chain negotiation.
in conclusion
The era of DAOplomacy is coming. Mergers, acquisitions, and transactions between organizations have existed for thousands of years. Now, most of the transaction overhead can be done automatically, which helps to promote a new round of collaborative entrepreneurship. Prime has established itself as a decentralized brand to pave the way for these interactions. This platform is an open value network that can establish an effective organization and coordination tool to ensure the future of the global DAO.
PrimeDAO is conducting a seed round of financing to fund D2D development. Please check here or register here to join !
Source link: medium.com
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