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Updated 717 days ago
Updated 717 days ago
RainbowDAO protocol is a multi-chain DAO infrastructure service protocol, focusing on the creation of the basic components of Web3. Anyone can create and manage their own DAO organization through RainbowDAO protocol, using all different Web 3 tools-kits and features.
RainbowDAO contract deployment information
Moonbase Alpha https://rpc.api.moonbase.moonbeam.network
ContractRegister:0x30fB8b950c18D64a438a57f91F619863264de658 UnionDaoFactory：0x85b5a0E52EA39ba416712EbD0234f36B7F1851F6 DaoFactory：0x484B849bfF6aEb31dC6a8C7fE7B3ab3e0Fdaa228 ProposalFactory：0x65583cBC0c452B52f14810e4d2f54959a6F8d9C5 DaoVaultFactory：0x40B17a1317330c45A02F2E4da22846c51812531b DepartmentFactory：0x683fC3657036720a89E2695ab16Fc9AE018299Da ERC20Factory：0xf2024fDcC4792E08DF8DCfFbc8a6DA66635227b7
With the authorization of the Rainbowcity Foundation, RainbowDAO protocol is a multi-chain DAO infrastructure service protocol, focusing on the creation of the basic components of Web3. Anyone can create and manage their own DAO organization through RainbowDAO protocol, using all different Web 3 tools-kits and features. RainbowDAO Protocol can not only create independent DAOs, alliance DAOs, parent DAOs or child DAOs, but also create various management departments within a DAO organization to achieve the multi-level management goals of the DAO organization.
There are currently three versions of RainbowDAO Protocol, which are developed in three different smart contract languages: RainbowDAO Protocol Solidity, RainbowDAO Protocol Ink! and RainbowDAO Protocol Near.
RainbowDAO Protocol Solidity will be mainly deployed on Ethereum, BNB, Poygon, Avalanche,Fantom and any EVM supportive L2 networks, as well as on all EVM supportive parachains within the Polkadot ecosystem.
RainbowDAO Protocol Ink! will be deployed on all Wasm supportive parachains within the Polkadot ecosystem, to provide DAO infrastructure service for all DAO organizations on the parachains. RainbowDAO Protocol Near will then mainly deployed on NEAR network, to provide DAO infrastructure service for all DAO organizations on it.
In the future, as the RainbowDAO Protocol expands , we will develop new versions for other new public chains such as Solana, Terra, Agorand and Cosmos. Meanwhile, as the DAO ecology evolves, we will surely develop DAO infrastructure products that are based on chains and comprise of substrate.
RainbowDAO Protocol is a multi-chain DAO infrastructure service protocol, providing all kinds of DAO infrastructure facilities and Web3 tools-kits for various DAO organizations on different chains. To better serve all types of DAO organizations, we have built a complete set of DAO infrastructure technical lines focusing on the whole DAO ecosystem, including eight categories of more than 30 independent Web3 tools-kits.
These eight categories comprise of DAO Organizational Management System, DAO Token Management System, DAO Personnel Management System,
DAO Voting and Proposal Management system, DAO Financial and Vault Management system, DAO Fund raising Management System , DAO Marketing and Contributions Management System and DAO ecological tool management system.
The eight ecosystems contain thirty independent management modules, each of which is an independent Web3 tools system. All modules make up the complete DAO infrastructure technical lines and each module can independently function or can be freely combined with one another through smart contracts. Therefore, all types of DAO organizations' demand has been met in terms of unified features as well as diversity needs and this makes our DAO organizations flexible as Lego come true.
Meanwhile, in the RainbowDAO Protocol, we brought up a new concept of DCV to take it as the center of all DAO tools development. DCV stands for DAO Controlled Value.
In this context, value is controlled by different levels of DAO rather than by certain individual or any centralized entity. Through the governing contracts of DAO, DAO controls every core parameter and decision switch in the protocol and it is determined by all governing Token holders through voting to move forward.
The overall planning of RainbowDAO Protocol is too huge, and the overall development is expected to take 3 to 5 years. We will decompose the entire development plan into different stages, rhythm and step-by-step implementation.
Rainbowcity Foundation announces official launch of DAO infrastructure project
2.Rainbowcity Foundation Launches RainbowDAO Protocol in Gitcoin Grant 12 https://cryptopotato.com/rainbowcity-foundation-launches-rainbowdao-protocol-in-gitcoin-grant-12/
3.Rainbowcity Foundation Announces the Official Launch of DAO Infrastructure Project RainbowDAO Protocol in Gitcoin Grant 12 https://u.today/press-releases/rainbowcity-foundation-announces-the-official-launch-of-dao-infrastructure-project
4.The 2021 DAO Global Hackathon ended and the RainbowDAO team won three awards! https://finance.yahoo.com/news/2021-dao-global-hackathon-ended-174200673.html?.tsrc=fin-srch
5.The 2021 DAO Global Hackathon ended and the RainbowDAO team won three awards! https://apnews.com/press-release/kisspr/technology-philanthropy-singapore-baae13a7c821e4e7bcf0dc6c62de0b91
6.RainbowDAO is the champion of Metaverse Hackathon in DAO tool track https://ambcrypto.com/rainbowdao-is-the-champion-of-metaverse-hackathon-in-dao-tool-track/
7.Web3 Foundation Grants — Wave 12 Recipients https://medium.com/web3foundation/web3-foundation-grants-wave-12-recipients-7e2b6bfb69be
8.Multi-chain DAO infrastructure protocol RainbowDAO receives a Web3 Foundation grant https://medium.com/rainbowcity/multi-chain-dao-infrastructure-protocol-rainbowdao-receives-a-web3-foundation-grant-143e9fac63bd
9.Multi-Chain DAO Infrastructure Protocol RainbowDAO Receives a Web3 Foundation Grant https://coincodex.com/article/13686/multi-chain-dao-infrastructure-protocol-rainbowdao-receives-a-web3-foundation-grant/
It has been 12 years since Satoshi Nakamoto created Bitcoin. He gave the name “A Peer-to-Peer Electronic Cash System” to the whitepaper of Bitcoin, making his purpose clear: to remould the financial structure and value transfer system of the world. This indicates the beginning of the campaign to end the centralized system that has existed for a long time since the birth of human civilization.
Bitcoin has attracted numerous followers since the moment it showed up. These people keep practicing the idea of decentralization in cryptocurrency. We have experienced the era of digital currency 1.0 dominated by Bitcoin and the era of digital currency 2.0 constructed by Ethereum smart contracts. Now countless people are working on the exploration of the age of cryptocurrency 3.0.
What is the age of cryptocurrency 3.0?
As we see it, the foundation of the age of cryptocurrency 3.0 is Token Economy, Community Management and a series of Decentralized Autonomous Organizations (DAOs) based on them. This will build a brand new digital world and reshape civilization for mankind. We believe DAO will be the future of human civilization, so we are making contribution to a series of DAO service infrastructure.
Lots of pioneers in the field of crypto attempted to upgrade the current financial system with the principle in blockchain. However, most of them failed. Why?
We believe crypto domain is completely incompatible with the current world because blockchain is a fresh system, which is bound to fundamentally format and reconstruct the earth. That's crucial to achieving liberation in mind and innovation in cryptocurrency projects.
We won't hijack the encrypted world to force it to adapt to the current world close to corruption. Instead, we yearn to build a completely new world that is fair, free, equal and transparent. The foundation of that world is all sorts of DAOs. We believe that with the prosperity of DAOs, exploitation generated by company system will be phased out. That is also one of the key missions for us to create RainbowCity Foundation, develop RainbowDAO protocol and establish a series of DAO infrastructure.
DAO, Distributed Autonomous Organization, indicates open and fair rules derived from blockchain and economic incentives model. The goal of DAO is to render commercial activities run properly and automatically without human intervention.
To some extent, DAO is like a robot. When all the programs done, DAO will start working in accordance with certain rules.
The basic features of DAO are as follows:
Different from the complicated and inefficient mechanism in traditional companies, DAO is totally automatic so that anyone can join or leave the organization at any time and get reward based on their contribution. Token issued by this organization functions as an intermediary to assess and encourage different participants in the ecology. With the continuous implementation of the DAO, the structure of the traditional corporate system operation will be streamlined, leaving investors and producers alone, which will lift efficiency greatly.
Each DAO is like a listed company. Token issued by it can flow at a high speed in the secondary market and be traded and exchanged in real time. Which means that its value will be determined entirely by the market from the very beginning, without lengthy financing and reviewing process to be a listed company. With the help of the underlying technology of blockchain, DAO overturns the modern company system and partner system. It has created a new business model that is different from the existing company, it's a new operating body.
DAO is a new "species", radically reforming the traditional corporate system. The boundaries in the company began to fade, and people began to work collaboratively through a new type of relation of production. In the process of cooperation, people make their own contribution and correspondingly get reward.
DAO can do many things that traditional companies cannot, effectively reducing friction in business activities and increasing the efficiency of participants of economy activities. DAOs are organizations that geeks of blockchain technology mean to build free from exploitation. DAOs are decentralized and trust-free. They can operate automatically, develop on its own and they are controlled and operated by contracts.
We firmly believe that the DAO will be the most basic form for the development of human civilization in the next century. The core of DAO is the idea of decentralization, which is the soul of DAO as well. Only organizations that truly adhere to decentralization are DAOs.
We firmly believe that DAO represents a brand-new productivity and relation of production. It's a novel worldview system and value system, part of a more advanced civilization of mankind - Bit Civilization, which completely surpasses the existing human civilization. DAO is making every effort to upgrade our world.
Cooperation and consensus are the most important part in human civilization. Language, trust and coordination are the cornerstone for humans to build a higher civilization and the reason why humankind could outmatch other creatures on the earth. Lacking trust hinders collaboration, lacking transparency splits consensus, lacking a shared language lifts the cost of teamwork.
As a highly intelligent group, humans are confronted with a crossroads where they have to make a choice in the backdrop of increasingly strengthening globalization. DAO is the most important tool to to deal with the bottleneck of the evolution of human civilization.
The change DAO brings is not limited to finance, it shows in business, technology, ideology, culture, civilization, philosophy and religion, in centralized institutions to decentralized communities. We firmly believe the evolutionary wave of DAO will rewrite the development of human civilization and once again bring human civilization into fast growth. That is the unavoidable phrase for mankind to explore the future.
Through the continuous innovation and vigorous development of encryption technology, more and more people are realizing that most of the conflicts in human society are caused by centralization which lacks transparency and equality. Decentralization is the only way out, and DAO is the basic unit of human civilization in the future. Transparency, freedom, equality and unity are necessary for mankind to evolve toward a higher civilization.
The core value of blockchain lies in building trust with the help of technology, therefore decentralized consensus is reached. In the long run, blockchain manifests the free will of humankind and it shows how human civilization benefits from technology. Human beings will go from a scattered, diversified and confrontational civilization into a unified civilization, into earth civilization where the entire human race will be united as one group thanks to Bitcoin. That civilization is a completely new civilization with DAO as its basic unit.
During the 13 years since Bitcoin appeared, with the continuous development and growth of countless crypto communities, the concept of distributed governance has gradually become popular. In this process, thousands of DAOs of various types were born as well. They are practicing the idea of decentralization in various forms. Therefore, distinctive governance models were created and a series of infrastructure and multi-level business structure formed with DAO as the center.
DAO, by listening to more community users' opinions, makes decisions through community voting, thereby forming a more extensive decentralized consensus, and finally inventing a viable economy step by step
In fact, the idea of distributed management sprouted in the early stage when Bitcoin was born, but wasn’t put into reality due to high cost. It’s hard to build a real DAO, for example, TheDAO based on Ethereum community ended up with failure. But the prosperity of encryption technology, such as Defi and NFT, are pushing diverse DAOs to be applied in a large scale.
Compared with organizations like companies, DAO enjoys a relatively low cost and it’s immutable and transparent. Now the size of DAO is small with hundreds of members, but we believe large DAOs with millions of members will appear in the future. DAO is taking the place of corporate system to be the base quantity of human civilization.
Besides size, the type of DAO is expanding as well. Different types of businesses are gradually creating different types of DAOs. Now it is not just the encryption community itself that is establishing various DAOs, non-encryption communities are also constantly paying attention to DAOs.
With the popularization of the idea of decentralization, the influence of DAO continues to expand outward, to some areas outside the encrypted world. More people in non-encrypted community are beginning to pay attention to DAO and the construction of DAO. The fields that DAO involves are now growing. We believe that is the fundamental force to promote DAO to become a global commercial application. DAO is definitely not limited to encryption community, but a new economic model shared by all innovators around the world. DAO is a global collaborative network built on the cornerstone of blockchain technology.
Throughout the 5000-year history of human civilization, human society is not only constantly choosing between centralization and decentralization, but trying to explore a fairer public participation model. This is what DAO is exploring now. DAO blurs the boundaries between individuals and institutions, redistributes the pattern of interests allocation, and changes the participants in the ecosystem with opposing interests into shared interests. When all participants work towards the same goal and contribute their own strengths, the overall benefits of DAO will ultimately be maximized.
DAO is not just a combination of smart contracts. In essence, it is a social organization, a physical network composed of individuals gathering together for a common purpose. The code of the same smart contract, used by different groups, may cause huge differences in organization because groups can choose to abide by the established rules or not, they can modify the rules through collective decision making, and ultimately change the behavior of the organization. That makes DAO move towards diversification. We always believe that every individual involved in the governance of the DAO is the soul and pillar of the entire DAO.
With the flouring of DeFi and NFT in 2021, the crypto world continues to prosper and DAO gradually becomes the center of crypto world. We firmly believe that DeFi and NFT protocols are both DAO-oriented. The growth of protocols must rely on the continuous governance of token holders to gain vigor.
All types of people gather together for a common goal of DAO. They adopt flat DAO governance structure through established rules. By creating a flexible workflow, a complete work process is formed where everyone can create, distribute and obtain the value generated from that common goal. When more and more people join this DAO and create value together, the overall value of this DAO increases. That is why DAOs are so attractive.
After the last three years of systematic research, RainbowCity Foundation has collected various information and cases about DAO in the encrypted world and divided the types of DAOs to a certain extent. Initially, there are eight types of DAOs according to RainbowCity Foundation.
The booming of various DeFi protocols on the Ethereum chain such as compound, uniswap, curve, and aave in 2020 has brought tremendous innovation and vitality to the entire crypto world. Correspondingly, various DAOs supporting DeFi protocols are valued and have become an indispensable part of DeFi. Protocol DAOs have also become one of the most important components in DAO field. Every protocol, not just DeFi protocol, needs DAO to govern its community and achieve the decentralized upgrading of the protocol.
Protocol DAO delegates the power of protocol from the core team to the hands of the community. Community members can make decisions through voting, and gradually reach decentralized consensus. In theory, DAO is open source and transparent, and DAO's governance is free from corruption. In this way, the decentralization of the power of the protocol can be achieved greatly to win the support of more token holders, which is conducive to the healthy growth of the protocol. DAO and DeFi are a natural combination. Only when various DeFi protocols are assisted by the governance of DAO, can such protocols have sustainability and growth.
As the crypto world prospers, various crypto funds are born to invest in crypto projects. However, when encrypted funds operate in the form of traditional funds, their lack of transparency causes a series of problems. Worse still, it is difficult for scattered groups to make crypto investments in the form of traditional funds. Hence, investment DAO was born.
Investment DAO is a DAO for joint investment in encryption projects and obtaining income. It can coordinate the benefit distribution of the entire investment DAO members by introducing DAO governance tokens and selecting investment projects and executing investment through collective decision making. In this way, the entire investment fund will be more transparent, fairer, and more equal. With the continuous improvement of relevant systems and rules, investment DAOs, large or small, will be created. Therefore, under the management of the investment DAO, any group of people can work together to invest in various types of encryption projects with a lower threshold.
In the traditional business world, all information is controlled by centralized giants. They control the creation and dissemination of media information, and they have the right to distribute the advertising revenue generated. However, those who really created these information have no profit, neither does the group that consumes media information.
Media DAO has a brand-new interest distribution mechanism where information creators and consumers can get the benefits generated in the process of information dissemination, making the spread of information fairer and more effective. Nowadays media DAO is embracing greater popularity. Currently, more and more media DAOs are coming upon.
Developers are one of the kernel groups in crypto world, they made a huge contribution to codes. Developers who firmly believe in the decentralized spirit of the blockchain are committed to the development of various types of open source protocol. They are the core force in the contribution of code to the crypto world. Among these developer groups, grant DAOs appeared which play an important role in the development of the crypto world.
Grant DAOs appeared to provide financial help for developers. For example, gitcoin is supported by Ethereum Foundation. Grants DAOs give fund to these contributors in the form of governance proposals.
NFT projects thrived in 2020 and DAOs related are emerging, too. Collector DAOs are formed by people who own the same NFT or who are interested in certain NFT. For NFT, collector DAO is surely a blessing because they link specific artists, NFT platforms, NFT products and their consumers and so on together, to ultimately create longer-term value for NFT.
As mentioned earlier, DAO will replace company as the most basic unit of human civilization in the future and DAO is an upgraded product of corporate system. However, that does not mean that with the development of DAO, company will completely disappear. DAO won’t make company extinct. The two forms will collaborate to establish company DAO. The open governance platform that DAO offers will help companies in funds management and examination and approval of business affairs, to lift the the transparency and efficiency of corporate system. At present, more and more companies are cooperating with DAOs. Corporate DAO will become an important part of DAO in the future.
We believe government DAOs will come together with company DAOs. The government itself has the responsibility of serving citizens, its governance is supposed to stay transparent. Government can make some departments operate in the form of DAO and exercise corresponding function, which can make governance more transparent, to better receive supervision from citizens.
Government DAO is not limited to sections of the government, it also includes various international institutions and organizations, non-profit organizations and charity organizations. Government itself is for serving its people and its behavior should be transparent. DAO is an excellent option for it in performing some functions for better supervision from its people.
The above seven categories are classified based on specific groups of people and application scenarios. Tool DAO is set to help these seven DAOs, to serve for them. It is the assistance of various types of tool DAOs that makes the first seven types of DAOs operate effectively and achieve different degrees of collaboration on a global scale. Without the assistance of tool DAOs, most types of DAOs can barely operate normally, let alone development.
There are many types of tool DAOs. Some belong to the operating system of DAOs for the creation and basic management of DAOs, and at the same time provide different templates and frameworks for various DAO communities. Some offer independent tool plug-ins to help these DAOs carry out certain governance activities. The prosperity of these tool DAOs promotes the development of various types of DAOs. Today, we create RainbowDAO protocol as a tool DAO protocol. We will establish the infrastructure for DAO ecosystem, develop various web3 suite tools for various DAO projects, streamline the process of DAO governance, make DAO governance more standardized and diversified, to truly enhance the prosperity of the entire DAO ecosystem.
As the crypto world continues to prosper and make innovation, various forms of DAOs that are guided by decentralization emerged. These DAOs are exploring cutting-edge governance methods in their own ways, they keep carrying out all forms of organizational innovation and innovation in system. To better serve these different types of DAOs, tool DAOs that focus on developing DAO infrastructure appeared. Hopefully through the development of corresponding DAO tools, the operation and governance of DAO can be better realized.
These DAO tools include but are not limited to DAO framework construction, voting system management, proposal system management, bounty system management, multi-signature wallet management. At present, most of these projects are operated on the Ethereum network, such as aragon and DAOstack that are dedicated to DAO framework; gnosis-safe that works on Ethereum multi-signature wallet management; Snapshot, a snapshot platform that zooms in off-chain voting; Tally, a governance platform to track voting records on different DeFi protocol chains, which holds project crowdfunding by Mirror; Miso, an IDO platform devoted to project financing; Gitcoin, a developer platform committed to providing grants to developers. At the same time, in the Polkadot ecology, platforms for DAO tool have also showed up one after another, such as subDAO and dorafactory. These tool DAO protocols all contribute to the prosperity and development of the entire DAO ecosystem.
Last year witnessed the explosive growth of various DeFi and NFT protocols and the remarkable achievements different governance DAOs have made. That made the demand for tool DAOs soar. But after research for half a year, we found that although there are already many tool DAO projects in the crypto world, the vast majority of them are still in the early stage of development, and the tools they provide are far from satisfying for the needs of the industry.
During the past three years, our team tried nearly all tool DAO projects on the market. After systematic analysis, we discovered that, however, tool DAO is faced with the following problems:
The function of most of the tool DAO products is too simple currently. Take the product for DAO framework, for example, what it provides is merely the building of DAO, DAO voting and fund management, lacking complicated or specified capacities. Besides, we see no function for section management in any DAO framework, let alone parent DAO and child DAO and alliance DAO. We often compare DAO to an upgraded version of a company, but the current DAO tools are far from meeting the needs of DAOs designed for companies.
Companies, large or small, are all composed of many departments. Therefore, any DAO must exist as a whole and it should be divided into different departments for different functions. Similarly, a parent company can have one or more subsidiaries, then can a DAO have one or more child DAOs? There are also some different types of companies that can join certain industry associations or alliances, so can independent DAOs form an alliance DAO?
From these simple questions, we can see that the current tool DAO products are still in their infancy. They can only achieve the simplest functions, far from fulfilling complex collaborative work. Today we put forward the RainbowDAO protocol with the most basic goal to achieve some relatively complex collaboration through the establishment of a series of standard tools.
We found that most of the current tool DAO products have poor expansibility and cannot accomplish functional iteration and upgrade. When a tool for DAO is developed, few products can achieve large-scale iteration or upgrade and most of them provide services for the DAO community with fixed functions. The poor expansibility also directly restricts the development of DAO.
The continuous development of DAO will inevitably leave the previous tools used behind because the tools cannot be expanded or upgraded. So DAO will have to select a new set of tools. That is a common problem in DAO industry.
We found that most of the tool DAO products are not compatible. Products or protocols among these products cannot work compatibly, let alone collaborative governance. The reasons are, on the one hand, different DAO tools are developed by different teams with divergent concepts, it is difficult for different products to cooperate with each other.
On the other hand, the development standards of various tool DAOs are different. Without a unified api or development document, DAOs can only use one or more products in isolation complying to their actual needs.
Tool DAO products, most of them, lack diversity and can only meet the common requirements of DAO. They are not good enough to meet the needs of diversified and differentiated DAOs yet diversification and differentiation are exactly the characteristics shared by different types of DAOs.
We found that the tool DAO products on the market currently are commonly not user-friendly. Especially for novices. The most critical reason for such poor operability lies in the design logic and implementation details of the product itself. Many teams only develop corresponding products and tools in conceptual level, they do not really think about users in real operation. In the end, the product was developed but no one would use it.
We have found that tool DAO products nowadays are not innovative enough and few of them have particularly eye-catching or original features. They learn from each other so their functions are similar. None of them managed to essentially solve some of the spiny problems in DAO industry. As a result, all developed products are not usable will be reduced to a tool merely for capital speculation.
The 6 points above are some of the pervasive headaches existing in tool DAO products in the industry that we have summarized after half a year’s research. It’s currently difficult for these products to get rid of the those headaches in DAO industry.
So what are the common pains in DAO industry now? After three years of research, we found that although DAO represents the future, the current DAO field is still at a very early stage and there are still lots of problems. We analyzed and summarized some of the common problems in DAO industry:
After research, we found that many practitioners in DAO industry have a common misunderstanding: to adhere to decentralization, they believe that a DAO should have only one single level, only one organization is allowed and everyone’s work is the same. We think it a big misunderstanding of DAO. In our view, decentralized idea belongs to the decentralization of decision making, not the simplification of job functions.
For any organization, to grow and develop healthily, it must have a clear structure and division of personnel responsibility. The structure can be multi-layered - a complex task is decomposed to different levels to smaller teams, and finally the overall governance of protocol is realized. But the current DAO tools can only perform some very simple collaborations, and cannot handle more complex and deep-level collaborations.
We believe that the structure and functional division of labor are the most basic capacity of a DAO. We intend to integrate this function into our RainbowDAO protocol development framework, which is the department management function.
We found that in the various DAO communities of Ethereum, there is a serious problem - low governance participation, especially voting rates. A large number of token holders do not care about the community's proposals and voting results. What they are interested is the ups and downs in token price. Therefore, the participation rate of many proposals is rather low, and the performance of overall community governance is poor. So more attention is required to lift the governance participation of community members.
We know that the operation of DAO entails voting. Calculating the voting rights of token holders in a proper manner is worthy of in-depth consideration. A decentralized community is composed of multiple stakeholders, including whales, ordinary holders, investors and speculators. Their interest is different.
So how to calculate the voting rights of these different stakeholders? At present, most DAO tools on the market have not considered such detailed issues. Basically, the design of voting rights is one-size-fits-all. In voting, in some cases, one token is one vote. And for other cases, one person is one vote. Both of the two models cannot safely protect voting fairness. RainbowDAO protocol offers different options in voting rights, such as introducing parameters to the weight of locked position and referring to quadratic voting of gitcoin, to refine the governance of the entire DAO system.
We know that the growth of DAO basically depends on the contribution of its members. More contribution means more growth. However, in the current DAO tool field, there are very few tools good enough to quantify the contribution of DAO members to stimulate them to make more contributions. We believe that tools for quantifying contributions should be one of the core tools for DAO governance.
Members can be guided to contribute more through not only generalized or differentiated bounty systems, but also specific task systems where monetary incentives can be released. At the same time, different levels of reputation system, credit system, medal system, honor system, etc. can be established to encourage community members to contribute from the spiritual level.
All the purpose is to stimulate the enthusiasm, initiative, honor and sense of ownership of the members in DAO, so that they can take on their responsibilities, work together, create more value and grow together with the DAO.
Looking at the differences between the company system and the DAO community system, we can find that DAO system is relatively loose compared to the company system that has existed for four to five hundred years. Specifically, DAO has low operation efficiency, poor execution. In DAO, everyone is the master yet everyone does not work. DAO lacks appropriate division of labor and management. These are real problems. This is why many people do not trust DAO community.
Yes, this is indeed a common problem currently existing in the DAO community. We believe this is still due to the fact that DAO is in its infancy. Supporting collaboration tools, collaboration processes and systems for division of labor are needed. We believe that decentralization should not be at the expense of efficiency. This requires the development of a complete set of web3 tool suites to serve the implementation of specific affairs of the DAO community from different perspectives. We need to establish a system for division of labor, for work report and work process improvement. These existing experience in the company system can be extended to DAO.
We believe that the essential difference between DAO and corporate system lies mainly in the decentralization of decision making, rather than the decentralization of jobs or functions.
We believe that the core of DAO governance is the decentralization of decision making and the decentralization of decision making is determined by voting by members of DAO. But when many members think about various types of proposals, they cannot decide which side to support or whether they should support the proposal. One of the most important reasons is that they cannot obtain valid data and make judgments based on these data. This requires various types of voting aids to help them do various data analysis and ultimately make their own decisions.
Such as analysis tools for token position, DAO member contribution analysis, diversified analysis tools and data aggregators can all help DAO members make decisions more scientifically and ultimately make large-scale collective decision making more scientific.
We believe that the current DAO is still at a very early stage. An important reason is that most of the DAOs do not have a complete financial system, especially system for the use of community funds. At present, the most important way for token holders to participate in DAO governance is to vote to express their opinions. There is no other way to participate except voting.
However, the establishment of a DAO requires the participation of all members, which requires financial support and a complete set of community fund use system to decide things like what departments should this DAO be divided into, how many working groups should these departments have, how much budgets is needed in these departments, what are their tasks, how to apply for expenses, how to reimburse expenses, how to calculate results, etc. Corresponding systems and mechanisms need to be refined, which entails a very powerful financial management system as well as the support of relevant DAO tools.
We are now working on the development of RainbowDAO protocol and a series of web3 suite tools. The financial management system is a key module. Only when the funds are managed well can the entire DAO create more value.
In addition to the basic financial system, we believe that a mature DAO should also have a complete income system and DAO member incentive system. These systems are complementary and combined. Organizations are built to create value. Some values cannot be directly measured with money, but more value can be quantified with money. Therefore, we believe that for a DAO to have long-term vitality, it must continue to generate income, and at the same time mobilize all members of the DAO to create income for the DAO.
In this regard, the RainbowDAO protocol has made certain innovations. For example, we have increased the threshold for joining DAO. Members in some DAOs need to pay for membership, like 100 USDT/year. Then the service fees become the income of the DAO. Members can get a share of the fee if he managed to attract more people to join the DAO. That is a virtuous circle.
Of course, the DAO must continue to create value for its new members so that they have the motivation to stay in the DAO. If a DAO cannot provide valuable services to its members, we believe that no one will continue to be willing to pay for the membership, and the DAO will be eliminated.
The eight points above are based on our research for half a year. At present, there are some common problems in DAO industry. To truly get rid of the dilemma, we believe that the most important thing is to provide these DAOs with some common or diversified DAO tools, to realize the systematization of DAO governance through the standardization of tools, which is also the most fundamental mission for us to create RainbowDAO protocol today.
During the past three years, the members of the RainbowCity Foundation team have been conducting in-depth research on DAO field. We keep focusing on the six problems that we have summarized above in the DAO tool products and the eight pains in DAO organization. We are dedicated to carrying out impressive innovation on the basis of existing products in the industry and develop tool-based products that truly meet the needs of the DAO market.
After three years of exploration and research, the RainbowCity Foundation decided to launch RainbowDAO Protocol, which is developed based on the smart contract framework, to deal with the pains in DAO industry.
With the authorization of the Rainbowcity Foundation, RainbowDAO protocol is a multi-chain DAO infrastructure service protocol, focusing on the creation of the basic components of Web3. Anyone can create and manage their own DAO organization through RainbowDAO protocol, using all different Web 3 tools-kits and features. RainbowDAO Protocol can not only create independent DAOs, alliance DAOs, parent DAOs or child DAOs, but also create various management departments within a DAO organization to achieve the multi-level management goals of the DAO organization.
There are currently three versions of RainbowDAO Protocol, which are developed in three different smart contract languages: RainbowDAO Protocol Solidity, RainbowDAO Protocol Ink! and RainbowDAO Protocol Near.
RainbowDAO Protocol Solidity will be mainly deployed on Ethereum, BNB, Poygon, Avalanche,Fantom and any EVM supportive L2 networks, as well as on all EVM supportive parachains within the Polkadot ecosystem.
RainbowDAO Protocol Ink! will be deployed on all Wasm supportive parachains within the Polkadot ecosystem, to provide DAO infrastructure service for all DAO organizations on the parachains. RainbowDAO Protocol Near will then mainly deployed on NEAR network, to provide DAO infrastructure service for all DAO organizations on it.
In the future, as the RainbowDAO Protocol expands , we will develop new versions for other new public chains such as Solana, Terra, Agorand and Cosmos. Meanwhile, as the DAO ecology evolves, we will surely develop DAO infrastructure products that are based on chains and comprise of substrate.
Meanwhile, in the RainbowDAO Protocol, we brought up a new concept of DCV to take it as the center of all DAO tools development. DCV stands for DAO Controlled Value.
In this context, value is controlled by different levels of DAO rather than by certain individual or any centralized entity. Through the governing contracts of DAO, DAO controls every core parameter and decision switch in the protocol and it is determined by all governing Token holders through voting to move forward.
The overall planning of RainbowDAO Protocol is too huge, and the overall development is expected to take 3 to 5 years. We will decompose the entire development plan into different stages, rhythm and step-by-step implementation.
In response to the current problems in DAO industry, to better meet the needs of the DAO industry and develop a set of web3 suite tools, RainbowCity Foundation has invented RainbowDAO Protocol.
Based on the RainbowDAO Protocol, we realized three major innovations of DAO protocol, which are in line with the eight major characteristics and eight principles of the development of the industry. In this chapter, we will elaborate on these ideas and concepts to share them with all those who are interested in the development of DAO industry.
In the entire RainbowDAO Protocol, we have innovatively invented governance DAO, which is of great significance to the entire protocol and it complies with the idea of decentralized governance. Governance of DAO is mainly demonstrated in two levels:
First, the entire RainbowDAO protocol is controlled by a governance DAO. The governance token, RBD, will be released. Holders of RBD govern the RainbowDAO Protocol. They decide the modification of the parameters of the entire protocol through referendum voting to constantly upgrade the protocol.
Second, each independent DAO created through the RainbowDAO protocol will generate a governance DAO and a corresponding governance token. The governance DAO controls the independent DAO and is responsible for the modification of parameters in the DAO system to achieve the upgrading and expansion of this DAO.
The combination of these two points makes the entire protocol no longer rigid, but an agreement that truly has vitality and capable of growth. The code design of the entire governance DAO protocol refers to the governance module of compound.
While upgrading the DAO management protocol, we coined RainbowCore as the core control center of the RainbowCity Protocol. RainbowCore module is divided into four parts, roleManage, privilegeManage, routeManage and core.
RoleManage contract is responsible for managing different roles in protocol. PrivilegeManage contract is responsible for managing the corresponding rights of these roles. RouteManage contract is responsible for the address of all contracts involved and can conduct contract address management. Core contract is for the entrance management of these three contracts, overall planning and coordination. The four parts of the RainbowCore make RainbowDAO protocol a whole that can be flexibly matched with different roles and rights and achieve unlimited expansion and upgrading of the protocol.
Based on the function of governance DAO and RainbowCore, we developed the DCV controller function, which makes the entire RainbowDAO protocol infinitely expandable. DCV is the core function of RainbowDAO protocol. Each DAO is based on the management of DCV which is an independent treasury system. We have innovatively developed the DCV controller function. Each controller is a series of existing rules written by smart contracts to complete the specified contract operations. In this way, the management of DAO obtains unlimited scalability. Through the DCV controller function, each DAO itself can flexibly control the assets in DCV.
For example, a DEX liquidity controller can be created. Through this controller, we can control the addition or removal of liquidity from the funds in the DCV to the specified DEX trading pair, so that the funds can increase in value and generate income. We can also create a stablecoin DCV controller and use this controller to control the funds in the DCV to mint stablecoins.
Each controller is contained by governance DAO of the DAO and is decided whether to be put into use or not by community voting and referendum. In this way, as long as we have a clear demand and tailor an independent DCV controller in advance, then we can govern the DAO to operate the corresponding DCV controller, achieving unlimited types of operations. The richer our controllers are, the more diversified the management of funds in the DCV.
In the RainbowDAO protocol, we have achieved three unprecedented innovations, namely, the governance DAO function, the Rainbow core function, and the DCV controller function. These three innovations can be used either independently or combined together. When these three functions are organically combined, the RainbowDAO protocol has unlimited scalability and upgradeability, offering unlimited diversification to DAOs under RainbowDAO Protocol. These innovations give RainbowDAO protocol the following eight characteristics:
Each function of RainbowDAO protocol can exist as an independent module, which can easily trigger upgrading and evolution of the protocol.
Each module of the RainbowDAO protocol is very flexible like a plug-in.
Each module of the RainbowDAO protocol can be combined with each other. Simple modules can work together to form a powerful one.
Based on the modular combination, the RainbowDAO protocol has very strong scalability and new functions can be added through the addition of modules.
The modules of the RainbowDAO protocol can be disassembled to streamline the DAO functional modules and adapt to actual needs.
Each module of the RainbowDAO protocol is independent. Based on the smart contract created by INK, each module can interact with each other.
The RainbowDAO protocol can be combined, extended, and disassembled, which gives the RainbowDAO protocol strong scalability. The protocol can be adjusted according to the actual condition of each DAO.
Based on the first 7 characteristics, the RainbowDAO protocol will evolve into a viable system that can upgrade infinitely with a decentralized idea.
Similarly, based on the three major innovations of the RainbowDAO protocol, we give these eight concepts to this protocol, which are also the ideas we adhere to as always:
RainbowDAO protocol adheres to the concept of decentralization. The idea of decentralization is the soul of the RainbowDAO protocol. Decentralization is practiced in both RainbowDAO protocol itself and various levels of DAO.
RainbowDAO protocol adheres to the idea of "code and law". All rules are constructed by code with no need for intermediary.
All rules of the RainbowDAO protocol are set by code to achieve complete on-chain governance, and the value of all assets is controlled by the chain.
The RainbowDAO protocol realized completely on-chain governance. All data is clearly displayed on the chain. All data and all behaviors must comply with the concept of transparency. Only transparency can build trust better.
The RainbowDAO protocol is composed of countless rules that have been set up in advance. They are constructed by smart contracts on the chain. Anyone can use the RainbowDAO protocol to build a DAO without permission.
RainbowDAO protocol is a set of open protocols and these protocols can interact with internal modules and external protocols.
The RainbowDAO protocol adheres to the concept of universality. The protocol is suitable for the establishment of various types of DAOs, including small DAOs with hundreds of members and large DAOs with hundreds of thousands of members.
The RainbowDAO protocol attaches great importance to inclusiveness. It can meet different types of needs and can be used by different types of people. We’re devoted to making RainbowDAO protocol a viable, growing and user-friendly protocol.
This chapter will elaborate the functions of three products of the RainbowDAO protocol, especially the establishment of the product structure of the DAO factory and the logical relationship between different levels of DAOs to offer you a clear understanding of the functional framework of the RainbowDAO protocol.
The RainbowDAO protocol belongs to the DAO basic framework protocol. Anyone and any organization can establish an independent DAO with the help the RainbowDAO protocol. We call this DAO an independent DAO. This is the most basic functional module of a DAO. By this independent DAO, three-part expansion can be carried our and finally make this DAO infinitely upgradeable and expandable, allowing it to accommodate tens of thousands or even hundreds of thousands of user groups.
An independent DAO can go upwards - join a Alliance DAO and become a part of it, such as investment Alliance DAO, media Alliance DAO, social Alliance DAO, development Alliance DAO, etc. Similarly, DAO alliances in different regions can be set as well, such as European Alliance DAO, Asian Alliance DAO and American Alliance DAO.
In Alliance DAO management, due to the nature of the alliance, an independent DAO can freely choose to join or leave an alliance without the permission of the Alliance DAO. Alliance DAO have no rigid management or ownership requirements between each other.
An independent DAO can go downwards to establish its child DAO, like the relationship between the parent company and the subsidiary. Each child DAO is identical to an independent DAO in terms of functional modules but it belongs to this independent DAO. The parent DAO(independent DAO) has the right to govern the child DAO, which cannot exist independently of the parent DAO unless approved by a referendum launched by its parent DAO.
The child DAO is created by the parent DAO, which has the authority to control the child DAO. The subDAO established by the child DAO can be governed by the child DAO and the parent DAO jointly. The child DAO has authority only over its direct subDAO. For instance: A(a parent DAO) creates B(a child DAO), B creates C(the subDAO of B) and C creates D(the subDAO of C). A governs B, C and D. B can only governs C and B has no right to control D. The parent DAO can perform cross-level management on all child DAOs, but the child DAO cannot do cross-level management.
Each independent DAO can go inward to establish a management department of its own. In this way, each independent DAO can have its own clear organizational structure. This is also the core function of the RainbowDAO protocol that we have been emphasizing. We believe that any DAO should have multiple departments working together.
In the RainbowDAO protocol, each department established by an independent DAO is equivalent to an independent small DAO and has various basic functions of DAO. It's just that it is not an independent DAO in nature, but a sub department of an independent DAO. In our overall product planning, the management authority of these sub departments is demonstrated by multi-signature smart contracts - a multi-signature committee responsible for managing this department, instead of by voting conducted by all DAO members to achieve governance. That is the decentralization mechanism of DAO management, which delegates power to different departments.
In the same way, a department can continue to set up departments to further decentralize and distribute powers so that the collaborative work can be finished through the multiple layers of the department. This is the most basic function we believe a DAO with hundreds of thousands of members must have.
In this diagram over the functions of RainbowDAO products, examples are provided to help you understand the product logic. First of all, we have an independent DAO. In the department management of this independent DAO, we established five independent departments: the Human Resources Management Committee DAO, the Financial Management Committee DAO, the Technical Management Committee DAO, the Operation Management Committee DAO and Investment Management Committee DAO. These five departments are responsible for the specific operations of this independent DAO.
Besides, these five independent departments are divided into different groups to refine the division of labor. Here are some examples: the Human Resources Committee DAO is divided into organizational management group and the salary management group; the Financial Management Committee DAO is divided into the budget management group and the fund allocation management group; the Technology Management Committee DAO is divided into the technology development management group and grant management group; the Operation Management Committee is divided into the brand management group and the promotion management group; the Investment Management Committee is divided into the project review management group and the foreign investment management group and so on.
Most of these different management groups also exist as multi-signature management committees. That is also a function of DAO's delegation of power to the subordinate independent departments. Complex coordination is achieved through refined division of labor, which is of the same pattern as the operation of a company. Only with clear division of labor and responsibilities can efficiency and execution be possibly improved.
By the information above, you can learn the planning and design of the RainbowDAO protocol. That is a large project that allows DAO to expand and upgrade infinitely. So how is the RainbowDAO protocol constructed as a whole? What is the structure of the protocol itself? In this part, we’ll focus on the architecture design of the RainbowDAO protocol itself to give you a better understanding of the implementation method of the RainbowDAO protocol.
You can understand the design structure of the RainbowDAO protocol from the following three levels step by step.
The first level of the RainbowDAO protocol is RBD governance DAO. RBD is the governance token of the RainbowDAO protocol. The holders of RBD are members of the RBD governance DAO and are responsible for the governance of the entire RainbowDAO protocol. The RBD governance DAO manages all the parameters and conditions of the RainbowDAO protocol as a whole, and RBD holders can determine the modification and optimization of each parameter of the RainbowDAO protocol through a referendum, realizing the unlimited expansion and upgrade of the RainbowDAO protocol. The RBD governance DAO belongs to the overall control center of the RainbowDAO protocol, and all management powers belong to the owners of all RBD governance tokens.
The second level of the RainbowDAO protocol is the protocol of the RainbowDAO. It is a part of the protocol, not part of the DAO created by the protocol. It contains six parts: the rainbow core contract, the membership management contract, the revenue management contract, the web3 suite tool contract, the DCV controller contract and the DAO factory contract. The DAO factory contract also belongs to the third level of the RainbowDAO protocol, which is mainly used for the control and management of the DAO created by the protocol.
The rainbow core contract consists of four parts: the role management contract, the authority management contract, the route management contract and the rainbow core control contract. It is the permission control center of the RainbowDAO protocol, which manages the authority and roles of the entire protocol and is responsible for the iteration and upgrade of the RainbowDAO protocol.
The membership management contract is responsible for managing the members of the entire protocol, including the management of the identity information of the member and the management of the invitation or recommendation among members. All invitation information is stored in this contract. In the future, all modules related to member management will be put in this part, including but not limited to credit system, reputation system, employee recruitment system, work representation system, etc.
The revenue management contract belongs to the revenue management control center of the RainbowDAO protocol. RainbowDAO protocol itself sets up a series of income categories. Fees are required when contracts are applied; DCV vault transfers will charge a certain percentage of transfer fees; the usage fees of the protocol will be charged based on the number of members in a DAO. In this way, the RainbowDAO protocol can capture value through the diversification of income types. More people using the agreement means more income and finally, income will go back to the holders of RBD in a certain proportion.
Web3 suite tool contracts is the center of management for some tool contracts, such as ERC20 token manufacturing factory contracts, multi-sign wallet management contracts, token airdrop system contracts, token lock-up system contracts, etc. In the future, tool contracts can be under this module.
The DCV controller contract is the center of controller management of the RainbowDAO protocol. Various controllers can be made here, especially those related to DeFi management.
The above contract belongs to the overall level of the RainbowDAO protocol. The third level belongs to the DAO factory contract, which is mainly used for the creation and management of DAO in a large scale.
The DAO factory contract can be divided into three parts. The first part is DAO type contract. These types are independent DAO, alliance DAO and parent-child DAO. That determines the basic attribute of the established DAO.
The second part is the DAO initialization contract, which is used for DAO creation and information initialization and the third part is the DAO management contract for the basic management of the contract after the establishment of the DAO.
The DAO management contract also has the right to conduct management. There are three types of administrators: single wallet address, multi-signature wallet address and the governance token DAO. Generally, the governance DAO acts as an administrator by default, and all governance token holders govern the entire DAO. Management authority can be transferred between different categories.
The DAO management contract is divided into 7 modules. The first module is the DAO basic setting contract, responsible for the setting of DAO basic information. The second module is the DAO authority management contract, responsible for the authority and role management in this DAO and its termination and liquidation. The third module is the DAO member management contract, responsible for the management of members in this DAO, including the entry threshold and the deletion of members. The fourth module is the DAO treasury management contract, responsible for management of DAO vault. The fifth module is the DAO voting management contract, responsible for a series of settings of voting rights. The sixth module is the DAO proposal management contract, responsible for DAO proposal management. The seventh module is the DAO department management contract, responsible for the department management of this DAO.
The above three major parts constitute the basic framework of the RainbowDAO protocol. RainbowDAO protocol spares no effort to achieve upgrading and expansion on the basis of these basic frameworks, to truly evolve into a viable and promising system and become the infrastructure of DAO industry.
Rainbowcity Foundation is a non-profit foundation initiated and founded by Mr. Kunyuan. Headquartered in Singapore, Asia.It mainly engages in the incubation and investment of the crypto ecosystem. Mr. Kunyuan himself is a loyal fan of Bitcoin and a believer of Satoshi Nakamoto, dedicated to the spread of Satoshi Nakamoto's decentralized ideas.
Mr. Kunyuan once founded the most influential Chinese encryption learning community in 2018: ChainNode community. At that time, there were more than 5,000 formal students. ChainNode community is the most influential crypto learning community in 2018. It played an important role in promoting the popularization of encryption knowledge for the Chinese community.
Mr. Kunyuan once put forward the concept of "Bit Civilization" for the first time in the world in July 2021 at the Bitcointalk Forum established by Satoshi Nakamoto , and wrote more than 50 articles to popularize the idea of Bitcoin,hoping to promote the development of the encryption industry worldwide and practice the true Bitcoin spirit.
Mr. Kunyuan has a rich experience in the crypto world. He was once the highest community leader of FCoin, the most influential community exchange in the Chinese world. In November 2018, in a referendum on the FCoin exchange, Mr. Kunyuan was elected as the first community committee member, and was appointed as the vice chairman of the community committee to fully preside over the work of the FCoin community.
In the second half of 2018 and the first half of 2019, Mr. Kunyuan cooperated with FCoin founder Mr. Zhang Jian to lead the FCoin community to achieve a comprehensive revival, making FCoin Exchange once again become one of the world's largest exchanges in the first half of 2019.
However, because many of Mr. Kunyuan's ideas could not be effectively implemented in the FCoin community, he chose to resign in June 2019 and began preparations for the Rainbowcity project. To some extent, Rainbowcity is a continuation of FCoin's community-based thinking, and it is also a continuing exploration of the true Satoshi Nakamoto spirit.
Mr. Kunyuan believes that in the crypto world, human civilization will have an unprecedented super economy in the future. It is constructed in the form of a decentralized protocol, which puts different and decentralized economic behaviors into a unified economy, and truly becomes the infrastructure of human civilization in the future. The Rainbowcity Foundation was established under this background.
The Rainbowcity Foundation plans to invest in 7 major areas in the next ten years, including Rainbow DeFi, Rainbow Investment, Rainbow Culture, Rainbow Network, Rainbow Industry, Rainbow Education and Rainbow R&D. Strive to become a super economy with a market value of one trillion US dollars. The RainbowDAO Protocol is the first project launched by the Rainbowcity Foundation to build the infrastructure of the DAO ecosystem and contribute our wisdom and strength to the development of the global DAO career.
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