Idavoll Network: The Future of Cross-Chain DAOs
Octopus Showcase Day 2021
Octopus Network launched a series of introductory videos from the Octopus Showcase Day 2021. This week we are taking a look at Idavoll Network, a decentralised autonomous organisation platform. In the video, founders Alina and Abdilash introduced their value proposition and solution to the smooth deployment of DAOs.
How Idavoll Brings Interoperability to the Cryptoverse
Idavoll Network is a decentralized autonomous organization platform created to allow different ecosystems to interact and deploy their governance processes through Idavoll. It is a parallel chain of Polkadot based on the substrate 2.0 development framework– the most convenient for users to create and manage organizations freely. The protocol provides users with a set of basic building templates for users to flexibly and freely create custom organizations to make the creation and the maintenance of DAOs extra easy.
“Idavoll Network is the ultimate system of creating and ruling DAOs on Polkadot. What does this mean? We are a cross chain protocol meaning that different blockchain ecosystems can meet and interact with each other on Idavoll. So, any Ethereum based DeFi can run it’s heavy governance process on the Idavoll Network through the Polkadot bridge chain. This is the innovation we are bringing to the world”.
-Alina from Idavoll
Idavoll is essentially a decentralised autonomous management platform where its infrastructure and services allow users from different blockchains to benefit from interoperability and easy management. As explained in the white paper:
“Each Idavoll Network organization exists in the form of a set of modules linked to each other. These modules define the stakeholders of the organization and their related rights and privileges. Idavoll Network will implement the idavoll court developed and maintained by idv holders in the future. Organizations can use courts to resolve subjective disputes with dual outcomes”.
Idavoll’s users can create and manage any kind of organisation, from companies and NGOs to hedge funds. Idavoll will then take care of the basic functions of such entities like voting, job appointments, financing, accounting etc. and will allow them to customise and modify their charter. On top of that, Idavoll also allows organisations to be extended and connect them with third-party modules of smart contracts.
Idavoll Architecture
Idavoll Network achieves the management of DAOs by putting in place a set of modules: a token module, a voting module, a token module, and a finance model. These four models are interconnected with each other and users can define on their own each of the actions that can be performed within the organisation as well as the constraints.
“Component templates are linked together using a permissioned structure to form a complete, secure and controllable DAO, that is, the organization only allows the permitted addresses and modules (module addresses) to perform specific operations of the organization. For example, a module with voting rights will perform a forwarding operation after successfully approved voting. By linking the basic modules together, some complex standards can be defined, which will limit the behavioral operations within the organization. For example, an organization wants to allow the transfer of funds within the organization, but the premise is the following conditions: 1) Proposed by members of the organization. 2) Approval by the majority of members. 3) Meet the predetermined budget. This can be achieved by configuring permission chains, each link imposes logical constraints on the final operation”.
In the organisation module, users can manage the organisation’s membership and permissions as well as allocating permissions to different actors. The voting module is for managing the proposals and decision-making processes for the members of the organisations, like setting requirements. The token module is where the management, representation, and transfer of ownership of organisation members happens as well as additional issuance and redistribution. Lastly, the finance module is where the organisation’s assets happen.
For solving disputes on proposal agreements, Idavoll put into place a court composed of jury members that own the IDV of Idavoll Network’s own chain assets and that receive a portion of the dispute resolution fee when that settles. The process is concisely described in the Idavoll White Paper:
“The first ruling of the dispute is called the preliminary ruling, and the subsequent ruling is called the appeal period. If there is no appeal during the appeal period, the preliminary ruling is the final ruling. Each dispute can be appealed at most once. In order to appeal, both parties to the dispute must apply additional mortgages. If neither party has deposited the mortgage required to trigger the next round of appeals, the preliminary ruling will be finalized. If only one party deposits the required collateral, the ruling will be completed immediately in its advantageous manner. If both parties have deposited the required collateral, an appeal round can be arranged. If there is a preliminary ruling, and no party appeals, only one appeals, or the maximum number of appeals is reached, a final ruling is reached. After making the final ruling, the court needs to deal with the reallocation of collateral and equity”.
Idavoll Roadmap
Idavoll has already brought to fruition the basic functions of the parachain based on the substrate 2.0 framework and the basic module functions, including the functions of organization, voting, token and asset management modules, and complete the basic functions of building DAO. It is now working on more templates and functional modules as well dispute agreement and Idavoll court. Soon, Idavoll Network will introduce additional governance modules and meet the individual needs of more organisations enabling Idavoll to materialise its full potential.
LaDevochka is a writer for 4NTS Guild. You can check out their Medium for more content or follow them on Twitter.
