Introducing The Summon Platform
A comprehensive solution for intuitive DAO creation, on-chain voting, governance & treasury management, and access to DeFi utilities designed to enable high-functioning DAOs to flourish on Cardano.
The emergence of Web3 technologies reveals an opportunity to shift organizational structures toward more cooperative models of governance. Rather than a single individual or small group of people at the top governing an organization, algorithmic protocols can gauge policy sentiment in a given community of participants, serving as an electronic agent to execute consensus decisions. These Decentralized Autonomous Organizations (DAOs) enable thousands of people to coordinate within a transparent set of rules.
Communities starting out on Cardano today are grasping for products that enable them to achieve the kind of decentralization offered by a DAO’s structure. While some organizations may choose not to become a full DAO, they may want to offer a mechanism of community governance and coordination. A great step towards this design is made possible through the use of Cardano Native-Scripts for voting and spending; however, it doesn’t scale to allow for DAO-driven protocols or to empower millions of users to partake in the governance of a single DAO.
ADAO, a Cardano DAO focused on open source development, was formed to meet this need and write open-source software. From the Core Contributors of ADAO, the Summon team formed to create a new platform that will implement these technologies in a way that is accessible to all Cardano users.
By utilizing Plutus-Core, and through a strong understanding of off-chain code, the Summon Platform will allow for decentralized coordination and governance. The Summon Platform will allow individuals of any technical level to summon their own transparent, on-chain DAOs , and invite others to join by exclusive invitation or permissionless enrollment. Additionally, the Summon team brings to the table a number of valuable enhancements to the generic template available, empowering users without experience writing smart contracts to create DAOs of any shape or size.
Simplifying the DAO creation, collaboration, and management process will broaden the technology’s appeal. By making DAO tools an attractive option for corporations, co-ops, and other forms of organization that seek to improve their efficiency, this technology can attract new markets that have yet to be tapped. Individuals and groups previously shut out of investment and business opportunities will be able to organize without the need for middle-men or permissioned systems.
The potential for automation, communication, and organizational improvement within traditional structures is tremendous. We can make these improvements accessible and easy to implement. The Summon Platform will realize this goal by offering a means to create a smart contract based DAO on Cardano as simple as setting up a personal wallet.
SUMMON tokens serve as a decentralized governance mechanism for the Summon Platform. Utilizing the same tools that the platform offers to others, stakeholders will be given direct governance over specific features and parameters of the platform. This will provide incentive for active interest and utilization of the token by the user community. Through the DAO governance interface, token holders may directly influence development of the platform.
Obtaining $SUMMON Tokens
Over 25% of all SUMMON tokens are allocated to the community of early supporters.
Public Token Sale
With more and more projects seeming to choose profits and ease over fair and equitable access, we feel it to be of utmost importance that we stay true to our core beliefs and do everything we can to ensure fair access for all. Details surrounding the summon public sale will be published on the Summon website over the coming weeks and on the Summon Medium page and social media accounts. Be sure to follow @SummonPlatform and @ADAOcommunity on Twitter for updates and details surrounding all of the Summon initial offerings.
ISPO (Initial Stake Pool Offering)
The Summon Platform will launch an ISPO (initial stake pool offering) through the ADAO stake pool on Cardano mainnet. Delegators to the pool will receive SUMMON tokens in exchange for their delegation and 100% of their ADA rewards. Once the ISPO has concluded the stake pool fee of 100% will be turned down to 5% and fees collected will be diverted towards the ADAO Foundation to fund open source development on Cardano.
In the event that the ADAO pool reaches saturation, partnerships with existing small stake pools on the network will be enacted to avoid spinning up additional Summon pools.
For information on how your team can partner with Summon, contact team@summonplatform.io
For media inquiries about the Summon platform, contact media@summonplatform.io
