On Mar 28, SubDAO Network joined the AMA with the Polka Warriors community. SubDAO Network revealed many special things about their project, roadmap update as well as answered questions from the community about DAO service that they are building on the Polkadot ecosystem.
SubDAO is a Cross-chain Platform built by SubDAO Labs to link DAO and DApp on Polkadot. It will be the infrastructure to maintain DAO and connect DApp with DAO in the world of Web3.0 powered by Substrate and Polkadot.
This AMA was held in the telegram channel of PolkaWarriors with the participation of Qiang - Technical Contributor of SubDAO Network. Many interesting questions have been asked with topics such as: the structure of SubDAO, the progress of the project, and especially the newly formed Polkadot DAO Alliance. The AMA session was a success, many questions were answered to provide more knowledge for the Polka Warriors community..
Below is a summary of the outstanding questions and answers from the AMA session.
1. Can you please answer my question. What is your "selling point" that makes subDAO better than other similar platforms?
Qiang:
Thanks for this great question.
First, as I mentioned above, SubDAO is an enabler that aims to make DAO service easier-accessible. It is a cross-chain DAO creation and maintenance platform for DApps, powered by Substrate and Polkadot.
Despite a number of DAO service platforms, we are still far away from the real mass adoption of DAO and faced by a number of obstacles, including high technical barriers, unsatisfying user experience, simple and basic DAO functions that are unable to meet diverse user cases, most solutions are focused on Ethereum, etc
SubDAO is created to tackle these problems that have been long ignored by other teams. So I would say that SubDAO has the following selling points:
- Cross-chain platform;
- Access to off-line data;
- 0 technical background needed to create a DAO;
- Easy-to-navigate user interface. In the future, SubDAO will add more DAO templates and all types of organizations will be able to find a suitable DAO template for their own use.
2. I wanted to follow your project for the long term. Where can I get all the latest news about your project? Do you have a Twitter/Telegram/Discord community?If yes, can you share the link here because there are a lot of fake telegram accounts ?
Qiang:
Sure, here I want to emphasize again that please don’t trust anyone reaching out to you and ask for your private key. Make sure you are following the official channels:
Twitter: https://twitter.com/subdao_network
Medium：https://subdao.medium.com
Github: https://github.com/SubDAO-Network
Website: https://subdao.network
Also, don’t miss our great 40,000 GOV + 5,000 USDT airdrop campaign at bit.ly/3rjMXdp!
3. Great project. You recently collaborated with some solid Polkadot projects like StaFi, Phala Network, etc for Polkadot DAO Alliance. How would the synergy bring solutions to DeFi users?
Qiang:
Together with other 10 Polkadot projects, SubDAO officially established the Polkadot Alliance 2 days ago, on Mar. 26. Please check the link for more info. https://subdao.medium.com/pda-polkadot-dao-alliance-officially-initiated-by-11-projects-first-online-global-summit-on-apr-6117c670dd58
The Alliance aims to increase the awareness of DAO across the Polkadot ecosystem and hopefully more DeFi projects will get to understand what DAO is and adopt DAO mechanisms in their governance. Hence, DeFi users will be empowered and have more decision-making power in their DeFi project.
PDA also has three other early-stage aims, all aiming to build DAO in the Polkadot ecosystem and eventually benefit all DeFi and other Dapp users.
- DAO Infrastructure Development in Polkadot
PDA tasks itself with providing DAO governance services and promoting the development of DAO infrastructure for Polkadot and other ecosystems. The Alliance will establish a DAO Ecosystem Development Fund with several million dollars to offer financial support for early-stage projects of DAO and Web 3.0. - Explore the Realization of DAO Governance
Apart from infrastructure, there are other aspects to be explored in terms of the realization of DAO governance. For example, in the early stage of Web 3.0, we could connect Web 2.0 with Web 3.0 quickly in a way that doesn’t harm the decentralization. - Promote the Compliance Progress of DAO Globally
In the global promotion of DAO, it is inevitable to face restrictions from local laws. Hence, to push the compliance progress of DAO globally and make it recognized and usable legally is one of PDA’s vital goals.
4. What is the timeline of the project? How is the governance through DAO implemented ? How fast do you expect the ecosystem to grow?
Qiang:
In phase 1, SubDAO aims to achieve all the designed functions including basic voting features for all DAOs. Meanwhile, the features for the PoC will be implemented and tested by a limited number of users.
- SubDAO Node with OCW to fetch simple off-chain data
- Template Library with basic functionalities
- SubDAO Guard
- Default Voting Template
- Asset Vault
- Front End
Meanwhile, the implementation of Off-Chain Workers of the Substrate Framework will be built and validated. The first off-chain data to be onboarded is the Github contribution.
In phase 2, more DAO templates will be implemented, such as the Fund Template and the VC (Venture Capital) Template, and the SubDAO Airfone will be included for developers to connect their DApps with DAOs.
In phase 3, the SubDAO Network begins to provide services for all kinds of DAO with customized DAO templates and we plan to release the low-cost version to the public.
Finally, SubDAO’s goal is to provide the Polkadot ecosystem with the Open SDK to facilitate the DApp and DAO ecosystem on Polkadot.
5. Can you provide an overview of your economics? Will the design of the token increase and decrease with the success of the platform, does it include any scarce pathways, such as equity, storage, or burning?
Qiang:
GOV, short for “Governance”, is the native token of the SubDAO network. The total supply of GOV is 1 billion, with an annual inflation rate of 5%. The design of the SubDAO tokenomics model boils down to three goals: 1. Slot Auction; 2. Incentive the development of DAO; 3. Governance.
Here is the specific distribution plan of GOV.
A good tokenomics design is of great importance as it can encourage community members and empower the whole project. SubDAO’s tokenomics involves a burning program where all GOV consumed during the execution of DAO creation and management will be burnt directly. Changes of the burning mechanism can be made through governance voting.
In the live questions section, Qiang did answer several short questions from the Polka Warriors community.
1. Community is a very important fuel for a platform. So in #SUBDAO, what is the vital role of community? What support do you need from the community to contribute to the development and growth of SUBDAO?
Qiang:
SubDAO is a community in essence. SubDAO as a DAO creation and management is highly depended on our community in terms of technical contribution, marketing support, and user feedback, etc. the better our community is, the better SubDAO will become as a service platform
2. What problems is SubDAO to solve to make it easier for Crypto users? Please let us know how evolving the roadmap is right now. What will happen this year and in the f Plasm re?
Qiang:
SubDAO is created for organizations and developers who want to decentralize their governance. Decentralization is the core of blockchain and the ultimate goal of SubDAO is to return the decision-making power to crypto users, and further to the people even outside the crypto.
3. As I can see, SUBDAO is busy breaking into the DeFi Space. What applications can SUBDAO offer in the NFT sector? Does the SUBDAO program provide support for NFT developments? If so, are there already developers working on NFT projects?
Qiang:
A good one, NFT is on the rise recently and has attracted loads of traction. SubDAO is a DAO enabler platform that serves all types of organizations and projects, which of course include NFT teams. We welcome NFT teams to build on SubDAO!
4. Which one of these aspects is important for you?
- Increasing Token Price Valu
- Empowering Platform Development
- Building Community Trust
- Expanding Partnership Globally
In what order?
Qiang:
They are all of great importance and 1 is the result of 2, 3, and 4 combined I believe. Currently, SubDAO is working in all these three aspects, we are tirelessly building our product, and all domes are out already.
https://twitter.com/subdao_network/status/1374992745983574017
Check out the link above for our demo
And building our community trust is the priority of our marketing team
Meanwhile, as you know, we just announced the establishment of PDA, the Polkadot DAO Alliance with 10 Polkadot projects globally.
5. Are you considering getting listed on the new Exchange soon? Are there any top tier exchanges on your list? Also, are there exchanges that you are currently negotiating?
Qiang:
Yes, and you will get some great news soon! We will keep you guys updated!
