DAOACT testnet launch

Today we are delighted to launch DAOACT on Rinkeby testnet.

This simple video demonstrates a proposal’s journey from submission through curation, voting and then funding:

You are welcome to test the testnet version.

Here are the steps:

  1. Get hold of some test-CE7 so that you can use the Curation Engine

The ACT Curation Engine (ACE) allows access depending on how much CE7 (test-CE7 in this case) you hold in your MetaMask wallet. You need 5 test-CE7 to connect. Maximum privileges come with 20,000 test-CE7.

You can get test-ETH from Rinkeby.

Each test-CE7 costs 0.001 test-ETH. To get test-CE7 you simply send test-ETH to this airdropper smart contract:

0xd1deefcdb2610188615bda00908f81ebdfa8cb85

The smart contract will send test-CE7 to your wallet. To see them just add the token’s address in “add token” in MetaMask. It is 0xa82e89eee2b655ffd4c343753df39ad92c7bf93f

2. Submit a proposal on DAOACT.

Under the “Activists” tab click “Submit proposals”. Complete the form and submit. You will need test-ETH to pay the submission fee. Submission fees are distributed to curators for their work.

3. Fund a proposal on DAOACT.

Under the Supporters tab check what proposals made it successfully through the curation and voting phases. ACT Funds work by autonomously paying proposals in part from the Fund’s pool, and then making the proposal open for crowdfunding. Input the amount of ETH you want to contribute to the crowdfunding phase and click “Fund”.

Voting

Voting happens after curation (it is not currently public so you cannot test it yet). Proposals first go through ACE and are then pushed to the voting DApp. Users can select which ACT Fund’s proposals they want to vote on.

Many ACT Funds.

Our voting DApp will allow decentralized organisations that create their own ACT Fund empower their communities to vote on what gets funded because only their token holders will be able to vote.

We will release the voting DApp with the next version. The mainnet version will be a DApp on Toshi, Status etc. because it is essential that mobile users can use it.

Whats next?

Mainnet is 30 days away or so. We will then deposit a small amount of ETH in the DAOACT Fund and start the revolution. If you are following ACT Foundation, you will know that ACT Curation Engine (ACE) is now a curation solution for an unlimited number of decentralized ACT Funds. This means, that any organisation, group or individual can fork our ACT Fund and create their own Fund connected to ACE. Curators who hold the CE7 token will curate proposals, and each Fund will support causes in accordance with its specific rules, parameters and goals.

A bit about our Vision

At ACT Foundation, we think that the giving sector as a whole is failing due to bureaucracy, inefficiency and lack of speed. Our world needs an answer to these problems.
Our goal is to see 20% of all giving decentralised within the next seven years.

Interested in creating an ACT Fund?

Reach us at contact@act.foundation