snglsDAO v.1
An operating system for content
Overview
Think of the DAO as an operating system for content distributed on the SNGLS Media Distribution Protocol (SMDP).
The DAO governs the protocol, thereby allowing the community to set its many functions and parameters. Through the DAO, and for the advancement of society, the community owns the distribution network.
We are all the Illuminati now.
The snglsDAO Foundation’s Role
The snglsDAO Foundation plays an important role in the start of the new governance layer. The foundation will act as a functionary to fulfil the original promises of the protocol until the point the DAO and WEB3 ecosystem are ready to take control of everything. One of the main functions the foundation will offer to the community will be facilitating the completion of upgrades the DAO determines it wants done. With limited exceptions, the foundation will not undertake any action unless instructed by the DAO. The foundation’s personal hot wallet and membership will be available in the members section and verifiable on 3Box (the decentralized identity protocol we are using). Note that the foundation’s hot wallet is the property of the foundation and not the DAO. The foundation reserves the right to return any funds for a project voted on by the DAO that it does not deem necessary, practicable or legal and in such cases the DAO will need to trust another user with the funds to accomplish said goals. It is further noted that any funds held by the foundation will be used as soon as possible to complete the elected project. The foundation is not in the business of safekeeping funds or acting as a custodian and the receipt of funds by the foundation is incidental in completing the elected project. Where, for any reason, funds cannot be used by the foundation within [60] days of receipt from the DAO, the foundation will return the funds to the DAO.
Foundation Hot Wallet Address: 0x57e2ad2fdb5ae489b05112810fa10d949716c73f
DAOstack
We have been working closely with a team over at DAOstack as we are using their techstack. We added some schemes to the DAO regarding our needs, specifically the MembershipFeeStaking.sol & Fee.sol smart contracts. We forked Alchemy and Arc and spun up our own GraphNode to handle our specific schemes. We used their contracts and GraphNode for the contracts that were not changed. By forking Alchemy it allowed us to design our own UI and include multi-language functions along with putting our own spin on it. We would like to thank Oren and Eric of DAOstack for all their help through the development of this.
Dashboard
The Dashboard is where you will land to sign in and build your reputation with the DAO. Using the SGT staking interface you will be rewarded reputation based on how much SGT you have staked compared to the total overall amount of SGT staked.
Along with building your reputation you can also have a quick snapshot of the key parameters for the protocol, stats on the DAO Treasury, tokens staked in the DAO, and the boosted proposals that are happening at the time. We look forward to community input on other stats that we can present to the users upon their arrival.
Protocol Membership
The Protocol Membership page is where the user can join the protocol for a small fee set by the DAO so that the user doesn’t have to pay the Transaction Fee on any content they decide to get. Think of this in the same way that Binance uses BNB to allow holders of the token not to pay the exchange fee.
To join, you stake the set number of SNGLS decided by the DAO. This adds your address to a whitelist that can be referenced by any portal using or built on top of the protocol. If you use the same wallet on that portal to sign in, it will reference the whitelist and not charge you the transaction fee every time you get a piece of content.
Application Integration / Protocol Parameters / Grants Proposals
For an in depth breakdown on Application Integration, Protocol Parameters, and Grant proposals please reference the previous Medium article here: https://medium.com/singulardtv/sgt-airdrop-88bfd6af0e38
The set parameters for each type of proposal are as follows (these can be changed by the DAO also):
Boosted Proposals
Since we used DAOstack’s technology we also incorporated their token into the DAO. Their native token is GEN and it’s used for a very special function inside the DAO. GEN tokens allow you to boost proposals to the front of the queue. Not only that but they change the “passing” function from an absolute majority to relative majority. What I mean by that is that without boosting a proposal the user needs to get the majority of the full reputation in the DAO to approve a proposal. If the user boosts a proposal they only need to get the majority of the voting reputation on that specific proposal. For a deeper dive on boosting proposals please reference:
https://link.medium.com/ahPQAvpIo7
https://link.medium.com/ury16osIo7
DAO Members
As we mentioned before we are using 3Box for our identity protocol, but the user can stay anonymous if they choose and still have access to the DAO. In the DAO Members sections you can see all the different members of the DAO and their profiles along with the reputation each has and their voting history. This adds a layer of transparency to the DAO that is important so users don’t grant a large amount of capital from the DAO to untrustworthy entities using the DAO. We look forward to seeing how people use this feature.
History
In the history section users can go back and see proposals that were submitted and if they were passed or not. This will act as a great reference point for all users to see what has come before and gauge what is needed in the future.
DAO Wall
The DAO wall will be where people can come and talk about what is going on with the DAO. We will be using 3Box threads.
What’s Next?
You might be asking yourself, “what’s the point of the DAO if there is no protocol software for it to control?” And that’s a good question. Technically speaking, we have most of the protocol software already developed in the form of the Breaker App. There is a bit of rewiring that needs to happen, but it works. The governance layer is now complete and can control the parameters of the protocol. To truly decentralize the distribution protocol, these two mechanisms will be wrapped up into a software package along with the final piece of the puzzle, a mechanism we call Content Mining. EtherVision will be a full node piece of software that contains the torrent system, governance layer, and content mining. Look for the EtherVision whitepaper in the next couple of months and follow along at the EtherVision Project Management repo on Github. In the meantime we will be refining the governance and app integrations in the DAO so anyone can come in and use the system. Also be on the lookout for a more detailed roadmap, a redesigned landing page for the site, and tutorial videos.
Zokyo / Blaize Thank You
Last but not least, a big thank you to the Blaize and Zokyo teams for their development expertise in this new arena. We would have been lost without you. A giant shout out to Aleksei and Oleksandr and their team at Blaize who worked tirelessly on this project. You guys rocked it out.
Troy Murray
snglsDAO Foundation Supervisor
Wallets
If you are confused about which wallet you should use to hold your tokens for easily accessing the DAO we are providing a list of wallets based on your skill level in WEB3 private key handling.
Beginner
- Torus
- Fortmatic
- Trust Wallet (connect to the DAO using their Wallet Connect integration)*mobile
