SubDAO now supports the innovative Layer-2 scaling protocol for Ethereum, zkSync. This will result in faster and more efficient transactions while preserving our fundamental values of decentralization and autonomy. SubDAO is committed to providing the optimal infrastructure for administering digital assets through middleware, multi-sig, and other decentralized features. We believe that zkSync’s cutting-edge ZK technology is an ideal match for our platform and will enable us to offer an even better user experience.

Here is a quick guide in how to create a DAO on zkSync

1. Before you start, make sure that you have sufficient gas fee, go to https://bridge.zksync.io/ to perform bridge to zkSync Mainnet.

2. Go to https://www.subdao.network/ and switch your network to zkSync.

3. Click on “Create” to start to create either a Multi-sig Wallet or a Venture DAO

4. For the purpose of this demo, we will create a Venture DAO, and fill out the necessary information. (Detail guide: https://wiki.subdao.network/product-guide/create-a-dao)

5. After you are done, share it with the world!

Note: It is typical to receive numerous signature requests when establishing a DAO. Due to the unique characteristics of the zkSync network,the number of required signatures is typically three to four times higher than on other networks.

Conclusion

SubDAO users can now benefit from faster, cheaper transactions without sacrificing security or decentralization thanks to zkSync Era. Because of this fusion, we can keep bolstering Ethereum’s ecosystem for development and innovation without compromising its core principles.

We’re thrilled to be on the cutting edge of this technology and provide our customers with the finest service available. Come along as we pioneer new digital asset management methods and build the most robust DAO platform possible.

About SubDAO

SubDAO is a DAO infrastructure that helps manage digital assets through middleware, multi-sig, and other decentralized features. SubDAO has completed multi-million dollar financing from dozens of institutions, including Messari founder Ryan Selkis, Hypersphere Ventures, OKX Ventures, Huobi Ventures, CMS Holdings, Divergence Ventures, FBG, Signum Capital, NGC Ventures, Kenetic Capital, Gate.io Labs, etc.

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SubDAO has completed auditing through Slow Mist. To further test the security of our smart contracts and thereby detect possible vulnerabilities, we invite and challenge everyone to find attack vectors/security vulnerabilities in the SubDAO Network.SubDAO is officially launching our ongoing bug bounty program, which is now open for community participation.

From today, we will start offering rewards for bugs or security flaws identified on SubDAO.Network and report to us according to the guidelines below. Bug bounty tiers will be assessed and rated by our security team along the following scale.

Rewards

Bounty will be rewarded based on the degree of severity of the vulnerability. Duplicate issues already made or filed by other persons cannot be rewarded again. Issues already made public by the team or a 3rd party cannot be rewarded. Once again, please perform your tests on SubDAO.network

• Epic: If a bug is considered to be valuable after evaluation by the development team, it will be classified as Epic and awarded. (Reward $500- $1,000)
• Crash: A bug that causes a breakdown of the SubDAO system and affects the use of the functionality. The development team evaluated the ability to reproduce a bug below the epic level, which was classified as crash level. ( Reward $250- $500)
• Critical: Affecting normal use, high-frequency operation, and high recurrence rate. After a comprehensive evaluation by the development team, it is classified as a serious bug. ( Reward $120- $250)
• General: Affecting normal use, medium frequency operation, and high recurrence rate. After a comprehensive evaluation by the development team, it is classified as a general bug.( Reward $50- $125)
• Minor: Low-frequency operations that did not affect the normal use of the SubDAO system, which can be repeated, were evaluated by the development team and identified as minor bugs. ( Reward Up to $50)

Areas of Interest

These are some of the bugs and vulnerabilities that we are especially interested in:

• Logic Errors
• Congestion and scalability
• Cryptography issues
• Missing access controls/unprotected or debugging interfaces

Out of Scope

• Attacks that the hunter has identified and exploited, leading to damages
• Attacks requiring access to leaked keys and credentials
• Best practices, opinions, and critiques
• Sybil attacks

Terms:

• Phishing or social engineering attacks against the SubDAO users or team will be disqualified.
• Testing with malicious or third-party systems or websites such as browser extensions, advertising networks, or SSO providers will be disqualified.
• Denial of service attacks will be disqualified.
• Automated or bot testing that generates heavy traffic will be disqualified.
• Public disclosure of unamended or unpatched vulnerabilities will be disqualified.
• Only those vulnerabilities that are original should be awarded a bounty. In case of a duplicate report or two users reporting the same bug, the fastest user who submitted the report FIRST shall be awarded.
• Public disclosure of the vulnerability, before the SubDAO team resolves it without explicit consent from the team, will make the bounty hunter ineligible for further participation.

Responsible Disclosure

Publicly disclosing a vulnerability can put all SubDAO users at risk. If you have discovered a possible vulnerability, please email us at security@subdao.network.

We will work with you to assess and understand the scope of the issue and fully address any concerns. All security emails and vulnerability reports are immediately forwarded to our security engineering team to ensure that problems are addressed rapidly. Any security reports are treated with the highest priority as the safety and security of our service are our primary concerns.

About SubDAO

SubDAO is a DAO infrastructure that helps manage digital assets through middleware, multi-sig, and other decentralized features. SubDAO has completed multi-million dollar financing from dozens of institutions, including Messari founder Ryan Selkis, Hypersphere Ventures, OKX Ventures, Huobi Ventures, CMS Holdings, Divergence Ventures, FBG, Signum Capital, NGC Ventures, Kenetic Capital, Gate.io Labs, etc.

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Like Traditional organizations, Decentralized Autonomous Organizations (DAOs) are made up of individuals who pool physical, mental, and, most importantly, financial resources to attain a common goal.

Traditional organizations involve a hierarchy, such as a Chief Executive Officer (CEO), a Chief Operating Officer (COO), and a Chief Financial Officer (CFO), who can make crucial decisions about the organizations’ activities and finances; however, DAOs work differently.

Decentralized Autonomous Organizations (DAOs) involve a democratic organizational structure where all members have a fair right to:

• Governance (decision-making), and
• Control of community assets powered by cryptocurrency.

Unfortunately, most DAO founders make a common error by focusing majorly on the decision-making aspect of the DAO, forgetting that the function of a DAO is not limited to decision-making but encompasses storage and asset control via crypto wallets, smart contracts, and blockchain technology at large.

At its most basic form, a DAO’s treasury can be likened to a multi-signature wallet, but make no mistake, they are not the same. A multisig wallet involves the communal use of a wallet by several parties to store crypto assets. However, unlike regular wallets, all co-owners of a multisig wallet have individual private keys, which must be signed before the mutual assets can be spent for any purpose; hence, it is imperative that the majority of its members agree with the purpose for which they intend to touch the treasury.

Asset Management in a Multisig Wallet

As its name implies, a multi-sig wallet is one that needs multiple signatures to approve a transaction. Think of it as a contractual agreement that wouldn’t be complete unless a certain number of people have appended their signatures.

To better understand how multi-sig wallets work, it is important to understand the types of accounts present on blockchains, which are:

• Externally owned accounts (EOAs)
• Contract accounts

If you have ever owned a crypto wallet, at least one with an Ethereum address, then you most likely had an Externally owned Account (EOA). EOAs consist of a single private key, which implies that anyone in possession of the private key can single-handedly make decisions on the assets in that account.

Like EOAs, smart contract accounts (or contract accounts for short) can accept funds from anywhere and make transactions; you can hardly tell their differences by merely looking at their public addresses. However, contract accounts aren’t controlled by a single private key; they have a more complex logic, which is determined by the content of the smart contract on the blockchain.

In its basic definition, a contract is an agreement between two or more parties; hence, before transactions can be fulfilled on a contract account, the preset conditions in the contractual agreement must be fulfilled.

A multisig wallet is a type of contract account that requires multiple parties to sign a transaction before it is executed. Hence, we can say that the logic behind a multi-sig wallet’s operation involves a contractual agreement that requires a predefined number of wallet co-owners to sign a transaction before it can be executed. For example, in a multi-sig wallet with 10 co-owners, which has a smart contract agreement to execute transactions when 70% of the signatures are reached, we can easily tell that when 7 co-owners sign the transaction, then it will be executed.

The main purpose of multi-sig wallets was to create security, as EOAs had a single point of failure; once the sole private key is compromised, the assets are as good as gone. However, a single key being compromised in a multi-sig wallet changes nothing, as the attacker cannot execute any transaction.

Asset Management in a DAO

To maintain distinction from traditional organizations, A Decentralized Autonomous Organization must be decentralized in all aspects; hence, unlike traditional organizations where a CEO or CFO can singlehandedly access the organization’s treasury, access to assets in a DAO must be decentralized.

Hence, you, as a DAO member, have a responsibility to understand your organization’s dynamics before you join and commit funds. It is important to ensure that the funds in the DAO aren’t controlled and managed by the developer or some other organization’s pioneer. Instead, a smart contract for asset management must clearly state the terms and agreement for spending DAO assets; this will help maintain mutual trust in the organization since no one has ultimate influence over assets.

At the very least, a DAO’s treasury should have multiple key holders, such as a multisig or some other smart contract, as explained above. Furthermore, a DAO can add an extra layer of security by ensuring that all transactions are approved by another organizational entity that audits the transaction before signing off (as with Decentraland DAO).

DAO vs. Multisig

From the above explanations, we can conclude that DAOs and Multi-sig wallets are similar in terms of account type since they both require smart contract agreements to access the treasury; however, most times, DAO treasury logic is more complex than multisig wallets.

The SubDAO protocol allows the creation of DAOs with a unique smart contract that allocates on-chain voting rights to managers. All DAO members can participate in off-chain voting to delegate managers who can initiate and vote in proposals (on-chain).

For example, intending managers can make a manifesto on why they should be considered for decision-making on the DAO’s Discord server, allowing the members to choose the managers that will best suit their interests. After the members have elected their preferred managers, the DAO creator will add them to the smart contract by signing an on-chain transaction.

Afterward, the elected DAO managers can initiate and vote on proposals (on-chain) to determine how to manage assets in the DAO’s treasury in a democratic system. Like a multi-sig wallet, where executing a transaction requires a preset minimum number of co-owners, the SubDAO protocol utilizes a democratic system where the managers can agree or disagree with a proposal. If more managers agree to the proposal, then it will pass; if not, the proposal will fail.

Finally,

When creating or joining a DAO, it is important to carefully examine all parameters and contracts involved in treasury management and decision-making.

The good news? SubDAO facilitates decentralized decision-making, eliminating a single point of failure and allowing multiple elected managers to manage assets in a DAO treasury. That way, DAO decentralization remains uncompromised.

About SubDAO

SubDAO is a DAO infrastructure that helps manage digital assets through middleware, multi-sig, and other decentralized features. SubDAO has completed multi-million dollar financing from dozens of institutions, including Messari founder Ryan Selkis, Hypersphere Ventures, OKX Ventures, Huobi Ventures, CMS Holdings, Divergence Ventures, FBG, Signum Capital, NGC Ventures, Kenetic Capital, Gate.io Labs, etc.

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Decentralized Autonomous Organizations (DAOs) are gaining popularity in tandem with cryptocurrency and blockchain technology. Simply put, a DAO is an organization; however, unlike today's traditional organizations, DAOs are run with collective decision-making.

We know that traditional organizations have an essential hierarchy that influences decision-making, with the higher-ranked members having leverage to make decisions on behalf of everyone else. However, DAOs are run differently.

Indeed, a DAO may have a founder or pioneer members; however, even the most recent members have a say, as everyone is expected to reach a consensus before making any organizational decision.

What is An Investment DAO?

An investment DAO (Otherwise called a Ventures DAO) is a decentralized organization where multiple people come together to pool mutual capital to invest (in startups, fungible and non-fungible crypto assets, as well as other off-chain assets).

Together, they manage their portfolio, and with a bigger pool of funds, the investments can yield a much better return than if each investor wanted to go solo. Hence, we can see that the main purpose of an investment DAO is to generate profits; hence, all the DAO members usually engage in democratic processes to propose potential investments and also vote for the investment they feel will be beneficial.

An investment DAO could build its standalone infrastructure, i.e., smart contracts and blockchain dApps, where all members can participate in on-chain decision-making. Also, those who don’t have the finances or structure or want to save time can fit in existing SubDAO infrastructures which are created mainly to aid the creation of Decentralized Autonomous Organizations.

For example, the SubDAO protocol is a multi-chain DAO infrastructure that allows the creation of Venture DAOs via the Ethereum, Polygon, BSC, or MoonBeam networks. Similarly, members can join the DAO and claim equity in the Venture by pooling funds from each of the networks mentioned above.

Why Are Investment DAOs Created?

As mentioned earlier, the most obvious reason people pool funds together is to have better investment power made possible via a fatter treasury. However, amid that, investment DAOs also exist for:

1. Easy diversification of assets: Simply put, splitting a joint $100,000 investment into 10 places is easier than splitting a solo $100 investment into 10. Transaction fees are split in a pooled investment, while a solo investor may use a huge part of their profits to pay transaction fees.
2. Lower Risk: Pooling funds help investors to reduce risk since every member of the DAO has a share of the profits or possible losses. More importantly, a single loss won’t wipe out the treasury, and even in the event of a loss, there are enough fallback funds to invest with and cover the losses.
3. Joint Learning: Perhaps the most underrated aspect of an investment DAO is that it helps each member be better individual investors. Joint decision-making with several proposals and debates helps members to learn from one another, and in the end, gaining a bit of knowledge from everyone increases each individual’s experience.

Should I Create an Investment DAO?

Before creating an investment DAO, it is essential to ask yourself these two questions:

1. Do you have an existing community?
2. Do you have social proof?

The success of any investment DAO is based on a community, as it requires several people to pool funds together; hence, if you are vocal on Telegram and Discord communities, where you offer value, you could reach out to a few people and let them know about your decision to create a DAO. If you have proven valuable, they could join you and invite others to join. In the end, everybody wins.

However, not all DAO starts from social communities; some DAOs are created with investment initiatives that transcend friendly groups, such as those who intend to bootstrap projects as angel investors. Hence, several intending angel investors can come together to pool funds, co-invest, share ideas, and distribute their resources across several startups; this shields investors from a single point of failure, as they can avoid the risk of putting all their investment in a failing company.

Of course, to co-invest as an angel investor, you need to show proof of funds or, at least, proof of existing success as an angel investor; hence, even if you aren’t with the fattest equity share, being highly knowledgeable can earn you a seat at the table.

More than these examples, many other investment DAO forms exist; however, the important thing to note is that to create a DAO, you must:

• Have a clear mission
• Have an existing community of like-minded people
• Have social proof (of funds, knowledge, or remarkable success).

No Infrastructure? No Problem

Do you intend to create a DAO but are concerned about building your infrastructure of dApps, smart contracts, and everything you need for on-chain decision-making?

Why worry? Visit the SubDAO protocol, and create a DAO with our existing infrastructure FOR FREE!

It’s simple to use and operate, so you and your community members or co-investors can flexibly set DAO terms, carry out on-chain decision-making, and win together!

About SubDAO

SubDAO is a DAO infrastructure that helps manage digital assets through middleware, multi-sig, and other decentralized features. SubDAO has completed multi-million dollar financing from dozens of institutions, including Messari founder Ryan Selkis, Hypersphere Ventures, OKX Ventures, Huobi Ventures, CMS Holdings, Divergence Ventures, FBG, Signum Capital, NGC Ventures, Kenetic Capital, Gate.io Labs, etc.

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As we reflect on the past year, we are filled with gratitude for our loyal community members who have supported us every step of the way. Your input, feedback, and activity have been integral to us, helping SubDAO develop unique DAO products that solve problems in the Web3 world and beyond.

Without your support, we could not have achieved such remarkable success over the past year. Yes, we are proud to say that 2022 is OUR BEST YEAR YET, and we are so grateful to have you behind us as part of our community. Indeed, we couldn’t have made it this far without you; we recognize your efforts and appreciate them.
We look forward to expanding and upgrading our existing products to suit your needs and creating more tools that allow you to participate easily in DAO governance.

Thank you for being a part of our journey. Here’s to a greater and more successful 2023 🥂

2022 In Brief

With a packed roadmap and much to achieve, we started the year brightly, launching the SubDAO dApp- a product that enabled multiple users to participate in blockchain-based venture capital, organizing fundraisers, managing assets garnered, investing them, and distributing profits and returns.

SubDAO DAO dApp made Web3 governance seamless; users didn’t need to worry about infrastructure, such as building or maintaining a dApp. All they had to do was follow the template and establish a set of rules which could be constantly reviewed via on-chain and off-chain governance. Additionally, with the SubDAO, several investment DAOs could purchase and store NFTs and link their off-chain investments.

SubDAO achieved multi-chain compatibility, allowing users to access their favorite DAOs from any blockchain network they prefer. As a result, SubDAO achieved compatibility on four major networks, including Moonbeam, Ethereum, Binance Smart Chain, and Polygon.

Sequel to building our dApp on the Binance Smart Chain (BSC) ecosystem, we participated in the 4th edition of the BNB chain Most Valuable Builder (MVB) incubation program, where SubDAO was one of seven projects to be shortlisted as winners, as projects that have played a significant role in driving innovation and progress within the BNB Chain and the whole Blockchain industry at large. As a result, we will receive continual support from the BNB chain, which sets apart a $300 million growth fund for all MVB winners.

We understand the enthusiasm of our community members, and we understand that not everyone is well-versed with Web3 elements; hence, we created several educational sessions, including:

• Learn on SubDAO series — Educational blog posts that help community members better understand how DAOs can be utilized in the real world.
• SubDAO News — Bi-weekly updates on the world of DAOs
• Periodical Ask Me Anything (AMA) sessions — to discuss with community members, understand their pain points, and answer their questions.

Also importantly, we regularly made upgrades to the SubDAO dApp and wallet, most notably User Interface upgrades for seamless navigation of the dApp, as well as technical upgrades such as adding new dApp and DAO wallet functions or optimizing the existing ones to ensure perfect backend functions. We also carried out monthly security audits (internal and external) to test our codes and smart contracts for bugs and maintain 100% user security.

In the last quarter of 2022, the SubDAO network started developing the Twitter Middleware — A web 2.5 dApp that allows Web 3.0 DAO management from a Web 2.0 platform (Twitter). We created this to onboard more people to web 3.0 technology, particularly DAOs. With the Twitter middleware, users can perform the core functions of the SubDAO dApps from Twitter, helping them carry out DAO governance on interfaces they are used to, especially for users who feel like the SubDAO dApp is too sophisticated.

In December 2022, we launched the long-awaited GOV token; hence, people could claim their airdrops; we are also developing more use cases for our protocol to ensure that the GOV token remains indubitably valuable.

We understand your importance. Yes, you, our community members. Hence, while launching and testing our products, we created rewards worth over $200,000 to incentivize community members for testing our products, giving us feedback, and helping us build the perfect dApp. We can assure you of more rewards in 2023, as we hope for your continued support. Thank you!

Where We Are

Below are significant highlights of our achievements in 2022

• Launched the Ventures DAO template, where 1,000+ DAO communities were created.
• Distributed over $200,000 in community rewards : $150,000 in Polygon public beta test event; $22,000 in Binance Smart Chain (BSC) beta test event; Additional $10,750 rewards for BNB chain DAO participants. $13,000 in SubDAO Beta 1.0 Internal testing event.
• … and many more bonuses, rewards, giveaways, and community events.
• Emerged joint winner in BNB Chain Most Valuable Builder (MVB) IV incubation program — set to benefit from a $300 million development fund.
• Got externally audited by Slow Fog Technologies.
• Entered strategic partnerships with Moonbeam and other projects.
• Launched SubDAO educational series: Learn on SubDAO, SubDAO bi-weekly News.
• Launched SubDAO Twitter Middleware V2.
• Launched GOV token, which is now tradeable on Gate.io, MEXC, and Hotbit.

With your help, we have achieved these and more, becoming choice service providers for DAO products. Thank you for making it possible!

Where We Aim To Be

We look forward to a fruitful and eventful year, aiming to complete our existing products and launch new ones.

To achieve this, we plan to:

• Complete and release the Twitter Middleware.
• Optimize DAO functions to participate in advanced asset management, such as token swaps and NFT trading, and other advanced DeFi tools, such as borrowing and lending.
• Deploying the SubDAO ink version.
• Launch the SubDAO Metaverse — A gamified community DAO governance that uses a gaming ecosystem to estimate community members’ contributions and distribute rewards accordingly. 27% of GOV tokens are reserved for the long-term incentives of the SubDAO metaverse. Learn more
• Release our Software Development Kit (SDK) to allow other projects to build more tools on our existing infrastructure.
• Enable Cross-chain capabilities within DAO products via our existing multi-chain capabilities.
• Collaborate with Web3 projects, traditional projects, and global ambassadors to increase our reach.

We also plan to regularly update and upgrade our existing products to maintain compatibility with Web3 trends and satisfy your feedback. We’ll continually do our best to onboard existing traditional organizations to Web3 DAOs and encourage the creation of new blockchain-based organizations.

Why SubDAO?

SubDAO is a DAO infrastructure that helps manage digital assets through middleware, multi-sig, and other decentralized features.

We are dedicated to providing universal and widely applicable DAO tools in venture capital and other fields. To achieve this, we have launched several products, including the SubDAO ventures DAO template in dApp and Middleware versions.

The goal is to ease the process of creating global, decentralized organizations that can engage in decentralized decision-making to achieve a common goal like maximizing profits, building new technologies, and living in the future with Web 3.0

Indeed, many DAO tools are out there, but we uniquely offer

• Ease of use: Powered by simple, straightforward dApps and Middleware, helping you to access DAO tools from anywhere.
• Dynamism: Facilitated with multi-chain and cross-chain capabilities that provide a non-restrictive approach to DAO governance.
• Incentives: We have set out a massive part of our tokens for community incentives to reward everyone who participates in and play a role in developing our products.

Additionally, we continually benefit from multi-million dollar financing from dozens of institutions, including Messari founder Ryan Selkis, Binance, Hypersphere Ventures, OKX Ventures, Huobi Ventures, CMS Holdings, Divergence Ventures, FBG, Signum Capital, NGC Ventures, Kenetic Capital, Gate.io Labs, etc.

With tremendous financial and infrastructural support from these institutions, and our esteemed community, we have a strong backbone, and success is undisputed.

Wrapping Up

Once more, we want to express our heartfelt appreciation for your support and loyalty. Your contributions have been invaluable and have played a vital role in our growth and success.

As we look towards the future, we are committed to providing improved services that help you create decentralized organizations on the blockchain in the easiest way possible. We are dedicated to delivering the most seamless experience, enabling you to participate in DAO governance via Web 2.0 platforms, a gamified ecosystem, and across several chains.

We foresee an even brighter future in 2023, and we would want nothing more than for you to be a part of it.

Thank you again for your support, and here’s another cheer to an amazing year! 🥂

About SubDAO

SubDAO is a DAO infrastructure that helps manage digital assets through middleware, multi-sig, and other decentralized features. SubDAO has completed multi-million dollar financing from dozens of institutions, including Messari founder Ryan Selkis, Hypersphere Ventures, OKX Ventures, Huobi Ventures, CMS Holdings, Divergence Ventures, FBG, Signum Capital, NGC Ventures, Kenetic Capital, Gate.io Labs, etc.

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In order to build a wholesome Web 3.0 experience for SubDAO users, our team plans to build a Metaverse. The SubDAO Metaverse will create a new way of DAO governance, especially in community-related DAOs.

What is The SubDAO Metaverse?

The SubDAO Metaverse is a community DAO governance system that provides gamified governance services for DAOs created on the SubDAO protocol. Apart from the thrill and fun of gaming, performance in the gamified ecosystem will be used to calculate the community’s contribution to the DAO and give rewards and governance accordingly. In short, it is a metaverse world built on the SubDAO Protocol to serve as the SubDAO community DAO governance tool.

Within the SubDAO Metaverse, users can earn “Identity NFTs” and other props by teaming up to build game teams, completing tasks, and stake tokens in various ways. This Identity NFT helps to affirm the identity of participating members of a SubDAO community, as well as tokens for participating in DAO governance — the higher the level of NFT, the higher the voting power it has.

To reward active participation, there will be an algorithm that induces an automatic decline in identity level such that users who have remained inactive in the SubDAO Metaverse for a long time will gradually have their voting rights reduced; hence, voting rights remain within the confines of active members.

As an open-source gamified governance platform, the SubDAO Metaverse will allow third parties to join.

The Significance of Gamified Governance

DAOs are created from members who;

• Have the same ideas, goals, or common interests.
• Are willing to put in the time, effort, and money for this purpose.
• Have a place for opinions and voting decisions

Indeed, DAOs are built from a consensus of ideas and shared interests; however, they thrive on the time and effort members put into them. Hence, incentivizing participation is important for community members to improve decentralized decision-making in a DAO.

It is expected that gamified governance, which comes along with some thrill and, most importantly, rewards active participation and punishing dormancy, will achieve better community engagement results than simple governance incentives of the past.

Introduction to The SubDAO Metaverse

The SubDAO Metaverse will serve as SubDAO’s community governance tool, providing a new DAO governance experience for all DAOs created on SubDAO.

The community governance experience is achieved with the following Metaverse scenario:

The SubDAO Metaverse includes a large Game Center with different game modes. Each DAO is a team, of which members are teammates. Each (DAO) team can select a representing team for participating in any game mode and form random teams or recruit game groups.

Each DAO (team) member has an initial experience value, which can be used to buy NFT looks or upgrade game props. DAO members can gain more experience value mainly by participating in pledges, completing tasks in the SubDAO DApp and Metaverse, and participating in DAO governance voting.

Some activities that can help DAO members to gain experience value include:

• Participating in staking.
• Initiating a DAO proposal.
• Voting in a proposal that successfully passes (After the DAO proposal is passed, different experience value rewards will be given according to the types of on-chain contracts executed).
• Completing in-game missions within the SubDAO Metaverse.

Also, Individual DAOs will be rated monthly, based on their activities, and the most active DAOs within the SubDAO metaverse will be rewarded with experience value rewards shared among the DAO members.

Similarly, at the end of each gaming season, team members of a DAO that has played in the SubDAO Metaverse will be rewarded with individual experience points based on the DAO’s collective team experience.

N.B.: There is an upper limit for different types of experience point acquisition methods.

Gamified social services for DAO

As mentioned earlier, DAOs are built from “consistent ideas and common interests” from several members who form a group of “cool” people. Also, many current DAO governance methods are tedious and far from thrilling.

Conversely, the SubDAO Metaverse encourages users to socialize in a team-based gaming approach that matches users with corresponding Identity NFT tags (e.g., Solidity developers, Twitter KOLs, Venture DAO members, community builders, etc.).

The individual DAO identifies all participants within the Metaverse they belong to, so when you enter a battlegroup, you will see your teammates like this:

Bob

From: Tech DAO

Tags: Developer

Also, some SubDAO metaverse participants can be members of multiple DAOs and have as many identities as they want. So, a sample scenario could be:

Alice

From: Founders DAO I X Venture DAO I Y Community DAO

Tags: Co-founder I Twitter Influencer

About Incentives

According to the SubDAO tokenomics, 27% of SubDAO tokens are reserved for Governance Mining, which will be used for long-term incentives on the SubDAO Metaverse gamified governance platform; the detailed incentive plan will be announced on SubDAO Metaverse.

Final Takeaway

Gamified governance approaches DAO governance with an advanced method that evaluates the voting power of community members based on activities and contributions in a gamified way. Hence, this facilitates thrill, fun, and a sense of achievement within the game, thereby influencing the active participation of DAO members in governance. Furthermore, gamified governance improves social interactions in DAO communities, thereby creating infinite possibilities.

As Albert Einstein rightly said, “Games are the most elevated form of investigation.” Hence, we hope this approach will successfully explore SubDAO community governance and bring users an immersive, gamified DAO governance experience.

About SubDAO

SubDAO is a DAO infrastructure that helps manage digital assets through middleware, multi-sig, and other decentralized features. SubDAO has completed multi-million dollar financing from dozens of institutions, including Messari founder Ryan Selkis, Hypersphere Ventures, OKX Ventures, Huobi Ventures, CMS Holdings, Divergence Ventures, FBG, Signum Capital, NGC Ventures, Kenetic Capital, Gate.io Labs, etc.

Follow Twitter https://twitter.com/subdao_network

Recap

We have added new functions to the SubDAO dApp for DAO initiation, fundraising, and asset redemption. Also, a multi-signature wallet function has been added, which creates an alternative option to the existing fundraising model.

SubDAO will release a new version of the SubDAO Twitter Middleware, enabling DAO creation, governance, and management on a simpler-to-use Web 2.0 platform (Twitter), enabling better DAO adoption by allowing users to perform the core functions of dApps through the SubDAO Twitter Middleware. And we made some adjustments to the existing roadmap.

Besides, SubDAO will participate in the coming BNBChain MVB VI. Below are details of the latest updates.

Development Updates

1. Added DAO Initiation Function

2. Multi-Signature Wallet

The DAO creator will be able to create a multi-signature wallet directly without initial fundraising. This multi-sig wallet can execute all the functions of the current management period but will not have equity tokens. Also, the multi-sig wallet will be void of the regular DAO life cycle divisions present in the fundraising model (such as the subscription period, management period, and redemption period).

3. More Options For DAO Fundraising

The multi-sig model doesn’t cancel the existence of the fundraising model; however, some new options are available for fundraising; they include:

a) Ability to Issue ERC-20 Token as DAO token

• Token circulation can be defined
• The number of tokens issued can be defined
• The price of a Token can be defined as a fixed or a Bonding Curve price
• Token release methods can be defined: One-time, Linear, and Staged

b) Ability to Issue NFT (ERC-1155) as a DAO token

• NFT’s price can be defined
• NFT’s image can be defined
• The number of issued NFTs can be defined
• NFT’s Metadata can be defined
• NFT’s circulation mode can be defined

4. Adjustment of DAO Subscription Rules

• The DAO creator can modify the subscription deadline
• If the subscription target is reached before the end of the subscription period, the management period can be opened early, thereby ending the subscription.
• According to new DAO initiation rules, the price of a DAO token during subscription can either be Fixed or set in a Bonding Curve.
• According to the new DAO launch rules, when members subscribe to a DAO, the DAO token can either be released in a One-time release, Linear release, or Staged release.
• According to the DAO initiation rules, DAO tokens during subscription are either circulated as Negotiable and redeemable assets OR Non-negotiable tokens used in asset redemption.

5. Asset Redemption via DAO Token

Only a token category that corresponds with the token used in DAO creation can be used in asset redemption. Hence;

• If an ERC-20 Token is used in DAO creation, only an ERC-20 Token can be used for redemption.

Similarly,

• If an NFT (ERC-1155) is used in DAO creation, only an NFT (ERC-1155) can be used for redemption.

6. Adjustment to Multi-signature Rules

There is no need to set a “voting end” period when a DAO proposal is created. After the proposal has passed, it will automatically enter the execution stage without waiting for the end of the voting period. If the proposal fails, it will go directly to the “Voting History.”

Twitter Middleware V2

SubDAO will release a new version of the Twitter Middleware, which will iterate the latest features of the dApp based on the solidity language. The new version will primarily be responsible for launching and managing dApp organizations on Twitter, allowing users to perform the core functions of dApps through the SubDAO Twitter Middleware.

How To Perform DApp Functions Via Twitter Middleware

• DAO initiator creates a DAO on Twitter and sets up a DAO co-manager.
• DAO initiator sets up administrator’s rights on Twitter.
• DAO initiator issues DAO tokens (ERC-20 and ERC-1155) to raise funds and define DAO tokens’ release rules.
• Members directly participate in DAO fundraising on Twitter and get DAO tokens in return.
• Members directly vote on proposals via Twitter.
• DAO administrator(s) performs DAO management-related functions on Twitter.
• Members use DAO tokens for asset redemption via Twitter.

SubDAO Twitter Middleware is designed for users to directly join DAOs and conveniently participate in governance tasks, including proposals, voting, and other interactive behaviors with many people on the Web2 portal (Twitter).

N.B.: Some DAO management functions cannot be executed on the Twitter Middleware; hence, the administrators must log in to the Web dApp separately to complete management tasks.

Roadmap Updates

The SubDAO roadmap has undergone some adjustments with additions to make the product much better to use. Currently, we are in Phase 3 and are beginning preparations for Phase 4, where we will introduce the highly anticipated SubDAO Metaverse — A Gamified DAO Governance that helps us to redefine our process of Governance Mining. We are already in contact with partners and will soon announce the partnership.

Phase 1

• Lite paper release.
• Three grants from Web3 Foundation (All submitted).
• BNB Chain MVB project participation.

Phase 2

• Deploying SubDAO EVM version.
• Integrating multiple web3 protocols.
• PolkaSign release (Ink version).
• Middleware release (Ink version).

Phase 3 (Where We Are)

• Integrating more web3 protocols.
• Enabling DAO to participate in DeFi, Swap, NFT, etc.
• Middleware V2 (Solidity version) release.
• Deploying SubDAO (Ink version).

Phase 4 (Next Phase)

• Launching the SubDAO Metaverse — A Gamified DAO Governance.
• Releasing the next version of dApp and middleware.
• PolkaSign release.
• SDK release.
• Creating Para-chain slots.
• Enabling DAO cross-chain ability.
• Cooperation with regulatory authorities
• Collaboration with global ambassadors.
• Integrating more Web3 protocols.

What is the SubDAO protocol?

A protocol is a collective term for a bunch of individual technologies that work collectively to achieve a singular purpose. Defining the collective purpose of these individual technologies may be a bit difficult to grasp for people who are unfamiliar with the product; hence, we’re explaining the individual purpose of the three major technologies that come together to form SubDAO, with the hope that it gives you a better idea of what the SubDAO protocol does.

In the past (Phase One), we got three Web3 Foundation Grants, all of which were submitted for completion; these three grants correspond to the three product lines of the SubDAO protocol, which include the SubDAO DApp, SubDAO Twitter Middleware, and PolkaSign.

• The SubDAO DApp is the protocol’s main application layer tool and DAO infrastructure based, which gradually iterates various DAO functions; it is the main way to realize the vision of the SubDAO protocol.
• The PolkaSign is a SubDAO protocol tool that helps to facilitate contracts for organizations via electronic agreements. The goal is to provide electronic agreements in line with Web 3.0 practices to replace existing Web 2.0 systems. In the second phase of our Roadmap, an Ink version of the PolkaSign was released.
• The Twitter Middleware is also a service based on the SubDAO protocol that serves as a bridge to Web 2.0 users, allowing them to familiarize themselves quickly with Web 3.0 concepts. The best way to onboard Web 2.0 users to Web 3.0 is to integrate them via dApp interfaces similar to the existing web 2.0 apps they are already used to. Since Web 3.0 development began, the participation of many web 2.0 individuals has been restricted because they find it difficult to understand the high threshold of technicalities involved.

Indeed, it is difficult to achieve a completely unperceived difference between Web 2.0 apps and Web dApps; however, the differences can be reduced to a minimum. Hence, SubDAO’s Twitter Middleware focuses on enabling users to use Web3 DAO tools on Web2 social networks without observing technical differences.

Both Twitter Middleware and the PolkaSign service use the SubDAO DApp. However, Twitter Middleware is more beneficial to the project’s development at this stage; hence, new updates to the PolkaSign product line are on hold until the 4th phase of the development plan.

What Have We Been Doing?

Initially, SubDAO was recommended by the BNB Chain’s team and consequently participated in the BNBChain MVB V project; however, at the time, the SubDAO product was not launched yet.

Hence, we will participate in the coming BNBChain MVB VI project and launch corresponding BNBChain activities. We hope the community can actively participate and make suggestions for the project’s success.

Besides all these, SubDAO is constantly adjusting its strategy. On the one hand, we are modifying our development plan according to the real-time situation. Conversely, we are adapting the product’s development to satisfy contemporary industry needs. For example, we moved to EVM after encountering a bottleneck in the Substrate development. We implemented the features we envisioned through Solidity contracts and then deployed the SubDAO Protocol on several major EVM networks. We still retain the development protocol’s ink version, which we will redeploy on the Polkadot network. It has not been easy, but we have achieved a huge part of our vision and are continually progressing.

We believe that DAO governance is one of the most important tools for Web3. Although we cannot perfectly predict how DAOs will evolve, SubDAO pledges to continually contribute value in this industry as long as the foundation remains unchanged.

About SubDAO

SubDAO is a DAO infrastructure that helps manage digital assets through middleware, multi-sig, and other decentralized features. SubDAO has completed multi-million dollar financing from dozens of institutions, including Messari founder Ryan Selkis, Hypersphere Ventures, OKX Ventures, Huobi Ventures, CMS Holdings, Divergence Ventures, FBG, Signum Capital, NGC Ventures, Kenetic Capital, Gate.io Labs, etc.

Follow Twitter https://twitter.com/subdao_network

Create your DAO on BNBChain, collect your BUSD rewards

Up to 10,750 BUSD prize pool each week ~

To participate: https://www.subdao.network/ (Switch to BNBChain network)

Activity Time: Start as soon as the announcement is made

Ending time: Will be announced based on event participation

Rules:

I. Swap Pool （Trade and Earn）l：5,000 BUSD each week

Trader： Create a DAO, and complete a Swap transaction with TAV greater than 500U to receive a 50 BUSD reward.

Swap Guide 👉 https://wiki.subdao.network/product-guide/apps-and-settings/swap

II. Contributor Pool：5,750 BUSD each week

Builder: DAO assets (TAV) weekly additions, the TOP 10 DAOs.

Contributor: After the DAO launched the fundraising, the number of addresses participating in the subscription increased every week and the TOP 5 DAOs with TAV ≥ 300U

Pioneer: Weekly additions of individual addresses to the DAO, TOP 5 addresses, with a total investment ≥ 300U

💰Reward distribution:

• GMT (Greenwich Mean Time) Data snapshot will be taken randomly every Tuesday, and the reward will be announced and distributed in the following 2 days.
• Trader, Builder, and Contributor rewards will be sent to the DAO Owner’s address.
• If the Trader rewards exceed the general pool, they will be shared among eligible participants.

About SubDAO

SubDAO is a multi-chain DAO protocol that help manage digital assets through multi-signature, voting and other various decentralized features. We are committed to providing a general and widely applicable DAO tool in venture capital and digital assets management field. SubDAO has completed multi-million dollar financing from dozens of institutions including Messari founder Ryan Selkis, Hypersphere Ventures, OKX Ventures, Huobi Ventures, CMS Holdings, Divergence Ventures, FBG, Signum Capital, NGC Ventures, Kenetic Capital, Gate.io Labs, etc.

Twitter https://twitter.com/subdao_network

Gitbub https://github.com/SubDAO-Network/

Audit Report https://github.com/slowmist/Knowledge-Base/blob/master/open-report-V2/smart-contract/SlowMist%20Audit%20Report%20-%20SubDao_en-us.pdf

SubDAO has completed its integration and deployment on Moonbeam, an EVM compatible smart contract platform that specializes in building cross-chain connected applications. Both SubDAO and Moonbeam share a multi-chain vision and strategy, which made this integration a perfect fit. Now, SubDAO supports the Moonbeam main-net, allowing Moonbeam users to easily create and manage Decentralized Autonomous Organizations.

With the integration, users can create DAOs and manage digital assets, including fungible tokens and NFT assets, and can also conduct swap transactions in their DAOs through the StellaSwap protocol, NFT trading, and lending behaviors through Wallet-Connect entrance.

“It’s been a pleasure working with the Moonbeam network. Our mission at SubDAO is to provide useful and accessible DAO tooling in the venture capital and digital assets management field. Our collaboration with Moonbeam will be mutually beneficial to both of our projects. We are looking to explore more possibilities in this growing ecosystem,” says Sang Tran, Core Contributor of SubDAO.

With the latest version of the SubDAO dApp, it will allow communities, funds, or groups of people of any size to create and manage a DAO in a few simple steps. Tools provided by SubDAO made it much more convenient for Moonbeam users to create a DAO, control a mutual treasury, vote, and make decisions in DeFi and NFT in a decentralized way.

The integration is now complete and makes SubDAO one of the first applications to provide DAO functionalities on Moonbeam. Users can now visit https://www.subdao.network/ to experience it and create a DAO.

About Moonbeam Network

Moonbeam is a smart contract platform for building cross-chain connected applications that can access users, assets, and services on any chain. By uniting functionality from Ethereum, Cosmos, Polkadot and more into a single platform, Moonbeam solves today’s fragmented user experience — unlocking true interoperability and paving the way for the next generation of applications. The Moonbeam platform uses integrated cross-chain messaging to allow developers to create smart contracts that access services across many remote blockchains. This approach, plus Moonbeam’s developer-friendly EVM platform, vast tool support, and modern Substrate architecture, creates the ideal development environment for building connected applications.

About SubDAO

SubDAO is a multi-chain DAO protocol that helps manage digital assets through multi-signature, voting and other decentralized features. SubDAO is committed to providing a general and widely applicable DAO tool in the venture capital and digital assets management field. The founding team of SubDAO is composed of the former Technical Team leader of the IBM Group and many early well-known developers. SubDAO has completed multi-million dollar financing from dozens of institutions including Hypersphere, Huobi Ventures, OKEx Blockdream Fund, CMS, Signum as well as investment by Messari founder Ryan Selkis.

Website: https://subdao.network

Github: https://github.com/SubDAO-Network/

Medium: https://medium.com/@subdao

Twitter: https://twitter.com/subdao_network

Telegram: https://t.me/subdao

Results for Week 1 of Public Beta are out, the reward has been distributed to the winning accounts already. Here are the winners.

Builder Reward（DAO Owners）

1st Place：0x2c1fe303e8f9355a9e2d8689f3fdc68bb73f5a93

2nd Place：0xac5e4d0cbb2f7bdedf13f05fa5a9096cdf3aad5b

3rd Place：0x05615398383d59599e30a8577bf8e23772d0d911

Contributor Reward（DAO Owners）

1st Place：0x05615398383d59599e30a8577bf8e23772d0d911

2nd Place：0xac5e4d0cbb2f7bdedf13f05fa5a9096cdf3aad5b

3rd Place：0xba569b54c1658173837c4ac4fa6fd6ff67a929c2

Pioneer Reward

1st Place：0x7fc98250d960cabd6a41f27961af42b252cc0577

2nd Place：0xfa1afc4534fc9f80a552e61dd04cd8a172c821a6

3rd Place：0xd4200cde10398d566f5766098cbfc170bd61510a

Guardian Reward（DAO Owners）

0xeb01ff124d71b6c7e6613fd6e0a86c28c733f008

0xfa1afc4534fc9f80a552e61dd04cd8a172c821a6

0x6cc836b535eb9431f9def82b71f80e449f29c821

0x6ad6da744347a126b1a291e6e7dd5cbce7aad069

0xb0d5ebdfbe29fa286806234ddabc25a0211636ea

0x38c68cd47e980ec825a3dc379975c39d677afd8b

0x8560db858fb2aa8c4ff4012f7995cb2864e0de68

0x7fc98250d960cabd6a41f27961af42b252cc0577

0x26abbfe49e3f7057a89cd18d58ef782439f17aef

0x35ca268681a60f9a3c163c1e9b9a71cc16b4a61b

0x5308246593d51d0e826fa4b63eae74496c5acb2a

0xba569b54c1658173837c4ac4fa6fd6ff67a929c2

0xda39280f80e413321275661a5039df888537df1e

0x846be08c800d8246d47539b0a83e7d0b891d5fa1

0xb8fda168ed998b940e2ddcb591158b90291d5c08

0xd4200cde10398d566f5766098cbfc170bd61510a

0xc652368b05a27dd70d135f636536714e2806bd9a

0xea5cdc0e0b98c2038ea8a36b0c3e39d615ab0018

0xc42746af43a6f9eb42b83809b7ee917a7650d999

0xd19679a24b6cc50ba2476741716e6be662bba853

0xba569b54c1658173837c4ac4fa6fd6ff67a929c2

0xc2893a33ca7d0884c245ac0a7a2045272620d11f

About SubDAO

SubDAO is a multi-chain DAO protocol that help manage digital assets through multi-signature, voting and other various decentralized features. SubDAO is committed to providing a general and widely applicable DAO tool in venture capital and digital assets management field.
The founding team of SubDAO is composed of the former Technical Team leader of the IBM Group and many early well-known developers. SubDAO has completed multi-million dollar financing from dozens of institutions including Hypersphere, Huobi Ventures, OKEx Blockdream Fund, CMS, Signum as well as investment by Messari founder Ryan Selkis.