SingularityDAO Governance: Organisation

Greetings Singularitarians,

SingularityDAO is a DeFi project created to bring advanced financial and artificial intelligence tools to the cryptocurrency and blockchain ecosystem.

In the summer of 2021 the SingularityDAO beta platform launched, followed later that year by the beta product release of DynaSets.

The technology stack underlying both the platform and product is the SingularityDAO Protocol.

The SingularityDAO Protocol is a DAO (Decentralised Autonomous Organisation) created to put next-generation blockchain, finance, and AI tools in the hands of a decentralised and democratically governed group of individuals from around the globe.

SingularityDAO can be broken down into 3 distinct layers; ‘The Product’, ‘The Protocol’, and ‘The DAO’.

The Product:

DynaSets are a collection of token sets curated and managed by a team of quants, pro traders, devs, and AI’s, leveraging the technologies contained within the SingularityDAO Protocol. Designed to manage user portfolios and proven to effectively outperform the cryptocurrency markets; with the launch of V1 in the summer of 2022, DynaSets are the first successful example of a product built on top of the SingularityDAO Protocol.

The Protocol:

Researched and developed from the ground up to bring cutting-edge financial and artificial intelligence tools to the blockchain. Layers of advanced smart contracts interacting with one another, oracles feeding data to inform decision making, pipelines supplying gigabytes of information daily to AI algorithms, and blockchain scrapers deployed to monitor on-chain metrics, alongside staking, farming, and a launchpad, all working across multiple chains. The SingularityDAO protocol is now maturing into a complex and highly advanced suite of DeFi tools.

The DAO:

(Decentralised Autonomous Organisation)

Decentralised: “The dispersion or distribution of functions and powers”

To be covered in an upcoming proposal, decentralisation can be considered the governance aspects of the protocol.

Autonomous: “Existing or capable of existing independently”

To be covered in an upcoming proposal, the smart contracts that will be developed to give users participating in the DAO the power to approve things such as contract upgrades.

Organisation: “An administrative and functional structure (such as a business or a political party)”

The focus of this document is the structure of the DAO and its participants.

With much progress already made on both protocol and project, development can begin on the DAO. As SingularityDAO can be broken into three layers, so too can DAO. The layer to be tackled in this paper is ‘organisation’; to structure the DAO participants in such a way that is fair, well incentivised, and understandable.

The following paper details the foundations of that organisational structure. It is the first in a series of papers that together will deliver ‘SingularityDAO Governance’.

SingularityDAO Governance Proposal: Organisation

The proposal explained

In order to fully understand the proposed update, we strongly suggest reading the paper linked above.

Below will be a very high-level explanation of the paper.

DAO participation tiers

DAO tiers will determine the level of benefits received from participation within the DAO. These will be similar to the previously proposed launchpad tiers, with a couple of optimisations to better suit the overall Governance model that is being created.

What do DAO participants receive?

• Access to DynaSet fees
• Enhanced staking rewards
• Early and guaranteed access to the Launchpad
• Additional governance rights
• Generate SREP
• Customisable (advanced) dashboard ‘Pro mode’
• Access to DynaLab
• Reduced Bridge Fees
• Exclusive NFT Benefits
• Discounted DynaSet performance fees
• And more…

How to participate in the DAO?

Users will be able to lock their SDAO into ‘Vaults’ — Current bonded staking will be one version of vault: The ‘Epoch Vault’, alongside a second ‘Dynamic Vault’ with lower rewards but available to enter at any time.

Upon locking their SDAO tokens, a reputation score will be generated and applied to the user’s address, this will be known as SREP (SingularityDAO Reputation). Alongside locking SDAO, users will also be able to lock other tokens within the ‘Dynamic Vault’, such as LP tokens, DynaSet LP, and even VSDAO. By locking these tokens, users will generate additional SREP based on not only the number of tokens locked, but also the length of commitment. Rewarding long term DAO participants is of utmost importance.

Tiers will be unlocked by a combination of both SDAO and SREP, with SREP being the more important factor.

Briefly mentioned above is something called VSDAO. This will be an LP token that represents 1:1 the SDAO a user locks within ‘Epoch Vaults’. This token will have a number of interesting features that will be detailed closer to the time, however, the most relevant one to DAO Governance is that if users choose to do so, they will be able to lock their SDAO in the ‘Epoch Vault’, receive VSDAO, then proceed to lock their VSDAO in the ‘Dynamic Vault’ to maximise SREP.

For far more details about all of the above-mentioned items, we direct you once again to read this paper.

The vote

We would like to direct all discussion and debate to the ‘Governance’ channel within the SingularityDAO Discord, feel free to join us to share thoughts, insights, and ideas about the upcoming vote.

The vote itself will be held on Snapshot and will include all ERC-20 and BEP-20 SDAO Governance Tokens held within wallets, LP pools, bonded and unbonded staking. We will not be including tokens within dynSING for governance votes.

As there is only one proposal, this vote will consist of three options; ‘Yes’, ‘No’, and ‘Blanco’.

With a ‘Yes’ vote the proposal will be accepted and development will begin, a ‘No’ vote will reject the proposal, and a vote of ‘Blanco’ tells us that you feel the proposal needs more work.

The timeline

• Announce Vote: 1st June 2022
• Vote Begins: 16th June 2022, 18:00 UTC+0
• Vote Ends: 20th June 2022, 18:00 UTC+0
• Results Announced: 21st June 2022

SingularityDAO Governance

This vote is the first of what will be a number of proposals put forward over the coming weeks and months. As such, this should not be viewed in a silo, but as one layer of what will become a sophisticated and highly advanced governance and decentralisation upgrade to the SingularityDAO protocol. For that reason, not all features detailed in this proposal will be released simultaneously, some that require further development related either to governance or decentralisation will come as development progresses.

Alongside organisational structure, we will release papers on technical decentralisation and governance mechanics, with the end result of putting the control of the project into the hands of the DAO. This will be a long journey, but one we are dedicated to and excited to have you all join us.

To stay up to date on all of this, please make sure to join our social channels.

Telegram Community
Discord
Twitter
YouTube
Announcements Channel
Facebook
Instagram
Medium
Reddit

And of course, Subscribe to our newsletter.