SONM Community call

ĐAO Universe
Sep 20 · 6 min read

(DAO Creation)

Current situation

SONM is a decentralized marketplace for heterogeneous computing power, which represents the first working technology, binding together fog computing and tokenomics. As it was projected, SONM allows to get computing power at most competitive prices. Price of different computing tasks can be up to 10 times cheaper than corresponding cloud computing platforms, or other solutions. SONM currently is IaaS layer with supercheap GPUs. SONM as a technology fulfills the hopes of its creators and functions according to anticipation from community.

SONM marketplace is a low-level solution in the area of fog computing, which allows to transform the global market of computing power and to replace cloud computing solutions for many different tasks. The key task for further SONM ecosystem development is to create SaaS solutions with easy-to-use UI/UX, which will attract new audience and raise general adoption of the project.

Here are examples of such potential markets:

  • Any organizations with big amounts of data. Analysis of big data in any field for any organization (from small and medium companies to big corporations, government structures of different states, non-profit organizations, private individuals etc.);
  • Cybersecurity, security, military operations;
  • Commercial and non-commercial research organizations. Mathematical modeling for scientific research;
  • Financial markets (modelling and management);
  • Management of complex dynamic networks;
  • Medicine (computing and modelling, images processing, biostatistics, bioinformatics, chemoinformatics, modelling etc.);
  • Organizations using artificial intelligence for research, processes automatization and efficiency increase. Machine learning and artificial intelligence in any areas;
  • Processing of video, audio and images (cinematography, advertising, 3D modelling, design etc.);
  • Software companies. Infrastructure-as-a-service (IaaS) and platform-as-a-service (PaaS) in any areas;
  • Usage by search engines for search through data storage;
  • Weather forecast (agriculture companies, governmental organizations, transport organizations etc.);
  • Web3 and blockchain companies. SONM can be used as server provider for decentralized web, connected to decentralized finances (Web3).

SONM Platform still has low usage, but big potential, that can be realized with new SaaS providers, new integrations, building more utility for SNM token.

DAO Proposal

Current situation leads to the necessity of creating a fair mechanism for SNM token holders cooperation on mutually beneficial decisions what should be the next steps of SONM platform development.

DAO is a decentralized autonomous organization that might help to govern community decisions using smart-contract technology. Implementation of the DAO should create a democratic decision making mechanism, that would be beneficial to all SNM token holders.

SONM DAO Value proposition

SONM DAO Creation value proposition (benefits):

  • Common ownership of assets;
  • Distributed and fair decision making;
  • Funding of further initiatives if needed;
  • Fundraising for the benefit of the DAO;
  • Additional utility for the token;
  • More inclusion of SNM token holders in the project;

SONM DAO also has some potential limitations (threats)

  • Discrimination risk (majority towards minority);
  • Sybil attack (attacker takes all);
  • Immobility (reluctancy of voters/disagreements);

DAO threats can be addressed by creating robust governance system based on reputation.

DAO will be created using customized Aragon DAO instance (aragon.org) as the most advanced DAO creation stack up to date. Several applications will be deployed on the Creation phase, some of them could be deployed further on DAO adoption by the community.

The main goal of SONM DAO Creation is raising demand for SONM platform services and SNM token price increase.

Roadmap to SONM DAO Creation

Phase 1: SONM DAO Test

  • SONM DAO will be deployed on a Ethereum Rinkeby network using Aragon stack
  • Each SNM token holder will receive 1 welcome participation token
  • Several proposals will be created to vote on and test DAO participation rate

Final result: Several proposals that would be enacted by SNM token holders

Timeline: 2 weeks

Phase 2: SONM DAO Creation

  • SONM DAO instance will be deployed on Ethereum mainnet with it’s own sovereign ENS name;
  • Token manager (Q token), Token manager (R token), Voting (Q token), Voting (R token), Vault, Finance, Agent, Simple Minter, Redeem apps will be included in the initial instance
  • Testing and activating initial Q tokens governance

SONM DAO will be deployed on mainnet with basic applications integrated and 1 Q Token and 1 R Token issued on behalf of UniDAO as facilitator.

Governance design will include 2 token system:

Q token — is an ownership token, that will be minted 1 to 1 on the deposit of any amount SNM tokens to the Vault of SONM DAO automatically

R token — is a reputation token (Meritocratic model), that will be distributed, by Q token holders Voting, to the most active and trustful participants, helping SONM DAO to increase its value.

On the SONM DAO creation phase all voting power will be designated to Q tokens, as no reputation in the form of R tokens been distributed to date. That might create certain immobility at this stage, but will make the DAO more secure and resilient to attacks. At the stage of SONM DAO adoption Q token holders will vote to reward active participants with R token reputation and on the next stage will delegate some power to R Token Voting smart-contract

Upon contributions made to the SONM DAO the Vault smart-contract receiving SNM tokens in exchange for minting Q tokens will be locked until DAO Critical mass have been reached.

Every SONM DAO participant will have the ability to exchange back Q tokens for SNM tokens contributed proportionally to Vault’s value at any time. (Rage quitting functionality)

Critical mass threshold to be attained at this stage is 10% of all SNM tokens outstanding. UniDAO as facilitator will mint and receive 10% of SONM DAO Q tokens in reward only upon successful Phase 1 completion.

If Critical mass has not been reached SONM DAO will be dissolved with all actual participants to have an ability to redeem their SNM tokens, by burning Q tokens.

An incentive system will be implemented for SONM DAO to receive Governance Fee from each transaction on SONM IaaS platfrom, moderated by SONM DAO token holders Voting.

Final result: SONM DAO deployed on Ethereum mainnet achieving Critical mass threshold

Timeline: 2 month

Phase 3: SONM DAO Adoption

  • Integrating new Applications (Fundraising, Dot Voting, Allocations) for bonding curve fundraising capability, Reputation allocation and multi-signaling Votes;
  • Allocation of Vault funds and R tokens in exchange for value creation for the SONM DAO (purposeful actions);
  • Testing and activating R Tokens governance;

At this stage SONM DAO will be fully operational, governed mostly by Q token holders. Moving to a more flexible and agile structure, Reputation will be distributed with the help of Allocation app. Each R token stake allocation should be based on report of value creation for the SONM DAO.

Each SONM DAO participant will be able to make any proposal for SONM DAO funds allocation for the benefit of the DAO (development, marketing, PR). Each active participant might be rewarded by Q Tokens

SONM DAO participants will have the capability to activate Fundraising app to accept new contributions to SONM DAO according bonding curve formula and mint new Q tokens for new members.

Agent application will be useful to allocate SONM DAO funds to DeFI ecosystem and earn value for the benefit of the participants.

Key permissions that could be delegated to R tokens include Execute actions in Agent, Transfer value from Vault, Create new Votes, but delegation will be fully dependant on the Voting of Q Token holders

Final result: SONM DAO is functioning and funding useful actions for SONM platform growth;

Timeline: 3 months

Glossary:

Telegram chats for SONM DAO discussion:

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