BLXM decentralization: FactoryDAO to partner on roadmap execution
bloXlab partners with FactoryDAO to guide the bloXmove DAO transition
We are thrilled to share that we have entered into a partnership with FactoryDAO, one of the leaders in DAO-building!
Since we announced our transition to a DAO, we have done a great deal of work behind the scenes, and initiated the onboarding framework through the bloXmove governance Avatar (bloXmove Governance Avatar).
Moving forward on decentralizing the BLXM ecosystem we are proud to announce that FactoryDAO will work with us on the Path of DAO.
Our Partners
Working with our valued advisors from Arcanum Ventures in planning the execution roadmap , we identified the need for a partner with direct, hands-on experience in building a resilient and safe DAO organisation.
This is what led us to FactoryDAO, who have an impressive track record in building such organisations.
Basic DAO design
Initially we had to think of the functionalities that we wanted to add to the DAO and what our base points would be. We came to the conclusion that the DAO system should:
- Be Fair — Voting power should not just be based on monetary power. Quadratic voting (limiting the impact of large holders) and contributions (e.g. Zealy quests, voting, programming, closing partnerships etc.) should play a role in voting power.
- Be Multilayered — We require different DAO systems for drivers (driver dApp governance), passengers (passenger dApp governance) and franchise takers (franchise dApp governance and rewards, which can vary per franchise taker).
- Contain Treasury Management: A main component of the DAO governance for bloXmove as a protocol (coming via you, our community) will be governing devleopment grants and spending of funds in general.
The steps to DAO
With FactoryDAO as a partner, we have laid out a plan, selected the tools and created a timeline to create our DAO system. As it turned out, FactoryDAO already has the ready-to-use tooling for us, making it quick and easy to integrate and set up the DAO system. An example of this is FactoryDAOs MetaDAO system, where NFT governance (the bloXmove Avatar) is used to manage a series of subDAOs as described above.
Jointly we agreed on the following main work packages
- WP 1: Decentralise BLXM Token
- WP 2: Decentralised NFT Governance
- WP 3: Liquidity And Economics
The timeline
FactoryDAO and ourselves will officially launch on Monday, November 20th 2023. All the tooling however is readily available and the theoretical groundwork has been executed prior to this announcement.
Over 4 to 8 working weeks after this, we will be gradually rolling out the DAO governance system as we thought it out and begin the NFT Avatar mint. Applying for the Avatar is possible until Sunday, November 19th.
Mints open periodically so subscribe now if you want to get a headstart and want to be part of the initial DAO: Avatar Whitelist Application Form. Note that the NFT Avatar is free if you stake or provide liquidity (see for the conditions our NFT Avatar article).
Our tools
Mint and Influence are used for decentralized decision making. Influence offers a robust governance system for NFT Governance in MetaDAO/subDAO structures, including quadratic voting and integrated proposal building.
For the treasury management (Governance Fund) we will host a community election (governance council election) to create a multisig wallet for the distribution of funds to the DAO. This will be a 7/12 signers system. We use the Bank tool for decentralized token distribution.
Live Stream for Official Launch
Monday the 20th of November, 13:00 PM UTC, we will join Arcanum Ventures in a LIVE Stream ( https://www.youtube.com/live/4tJIqpykpy8?si=QEfVKspvrvPJ27xI ) to discuss our collaboration with FactoryDAO, DAOs in general, decentralization and the transition to a decentralized project.
About FactoryDAO
FactoryDAO seeks to lead the DAO wave with an extensive suite of dApps for building sustainable, decentralised organisations. We are building no-code, modular infrastructure, allowing anyone to launch a DAO.
We are excited about the bloXmove collaboration as it will mark a significant step forward in the current industry practices of progressive decentralisation and community nucleated governance.
About bloXlab
bloXlab is the Web3 solution provider behind bloXmove, integrated by the original tech team. bloXlab is committed to improve and expand bloXmove’s ecosystem as well as support any project or initiative that wants to build on top of bloXmove platform, either mobility solutions or any other that benefits from the NFTicket protocol.
We are grateful to be working with an experienced DAO partner like FactoryDAO which has all the tooling necessary for the DAO we envisioned, allowing us to create a smooth transition.
