Vite Builder DAO

Seeking community feedback

Published in

Vite Labs

4 min readSep 30, 2021

To foster ongoing organic development on the Vite ecosystem, Vite Labs is actively exploring the idea of creating a Vite Builder DAO. After our internal discussions, we are excited to share this concept with the Vite Community. At the moment, we plan to launch the DAO after the creation of the DAO tools for governance purposes. While we are finalizing this process, we welcome all your constructive feedback.

Name

Vite Builder DAO

Mission

To foster ongoing organic development on the Vite ecosystem

Membership of the DAO

The DAO is an invitation/recognition only organization, all DAO members are the Builder DAO token (for example $VUILD) holders. They must meet one of the following criteria to be a DAO member:

They have created some project on Vite before or are currently building on Vite
DAO members can be developers, graphic designers, video/audio professionals, etc.

The $VUILD Token

$VUILD token is a social and governance token of the Vite Builder DAO
It is an exclusive token that only verified wallets can hold
All token holders must be verified builders within the Vite ecosystem
The token can be transferred between all verified wallet addresses but cannot be transferred to other wallets
Each member of the Builder DAO will be given 20 tokens upon verification
There is no upper limit of the issuance of the $VUILD token
Bounty winners will get $VITE as monetary rewards plus more $VUILD tokens to signify their contribution to the Vite ecosystem
The recommended incremental token distribution is 20 $VUILD

Builder Council

The managing (as opposed to the governing) body of the Vite Builder DAO is the Builder Council. Its main function is to foster ongoing organic development on Vite by

Facilitating ongoing bounty creations. Bounties can be created through the following steps:

Proposal Process — Given the funds available in the DAO treasury, the Builder Council can determine the number of Bounties to fund during that Bounty Cycle ( normally 1 month). The Builder Council can then solicit ideas from the DAO to come up with a list of Bounty Proposals. When the number of Bounty Proposals exceeds the number of Bounties to fund, Voting Process is required to determine which Bounty Proposals get funded.
Voting Process — The Builder Council may invite the Vite Community to vote on the list of Bounty Proposals. The top ones will be selected as Bounties for that cycle.

Maintaining the Builder DAO SBP
Managing the DAO treasury
Distributing the Bounty rewards ($VITE) to winning developers
Verifying builders and distribute the $VUILD tokens to DAO members

Builder Council Organizers

Members of the Builder Council are called Organizers
At any time, there can only be 5 Organizers
Organizers will be listed on Vite’s official website for transparency
Organizers can go by aliases if their public profiles are such and they wish to remain anonymous
The minimum term of an Organizer is 6 months
The inaugural Organizers will all be members of Vite Labs. As the DAO grows, new Organizers can be slowly introduced to the Council

Builder DAO SBP

The DAO SBP is maintained by the Builder Council. All of the block rewards of the DAO SBP go directly into the DAO treasury.
Vite Labs will stake for the creation of the SBP and vote for the SBP to ensure its top 25 spot to maximize its block rewards.

Builder DAO Treasury

The Builder DAO treasury holds and distributes two tokens — $VITE and $VUILD
$VITE as monetary rewards to the winning project developers
$VUILD as the social and governance token of the DAO

DAO Governance

The DAO Governance will transition from centralized governance slowly towards decentralized on-chain governance model. This requires tools to be developed on Vite to facilitate votes, asset custody, etc.

The desired tools are:

DAO tools for snapshots, proposals and voting
Multi-sig wallet for treasury funds custody and management

DAO Program #1 — The Ongoing Bounties Program

This is the key program of the Builder DAO. Bounty projects are funded by the DAO treasury and are published on a monthly basis. All published bounties will have base rewards in $VITE and $VUILD.

These bounties are all defined tasks. Any builders can submit an open task at any time but these submissions won’t have a base reward. The Builder Council can allocate discretionary rewards to quality open task submissions.

If one winning project is created by multiple builders, they split the $VITE rewards. But they each will get the equal amount of $VUILD for their contribution.

The judging of the bounty submissions can be conducted through a DAO vote or Council vote.

DAO Program #2 — Project of the Quarter

On a quarterly basis, the DAO can host a “Project of the Quarter” event, in which all $VITE holders can vote for the most useful tools/bots/projects of the past quarter. The winning project(s) will get bonus rewards in $VITE.

All projects created during that period of time are eligible for entry, these include all open tasks submissions and bounties listed by the Ongoing Bounties Program.

DAO Roadmap

Step 1 — The creation of the DAO tools

Step 2 — The official launch of Vite Builder DAO

Step 3 — DAO operations & governance

Official: https://www.vite.org/

ViteX Official: https://vitex.net/

Twitter: https://twitter.com/vitelabs

Vite Forum: https://forum.vite.net

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