What is SubDAO? Detailed information about the project and GOV . token

• Overview of SubDAO
• What is SubDAO?
• Basic Features of SubDAO
• How to make money in SubDAO
• Main features of SubDAO
• SubDAO development team
• SubDAO's development plan
• Advisors, investors and partners of the SubDAO project
• GOV . token overview
• What is GOV Token?
• Functions of GOV . token
• Where can GOV tokens be bought and sold?
• Potential of SubDAO project
• summary

Overview of SubDAO

What is SubDAO?

The SubDAO Network is a cross-chain platform developed by SubDAO Labs. This system helps to connect DAOs with Dapps (decentralized applications) on the Polkadot ecosystem. SubDAO will be the primary infrastructure that helps maintain that connection in the Web 3.0 space, operated by Substrate and Polkadot.

SubDAO is built to make it easy for any DAO (decentralized autonomous organization) to create and manage with decentralized governance. SubDAO is committed to acting as a gateway to the Web 3.0 generation by providing blockchain-based digital agreement signing protocols, DAO social networks, asset management tools and tools and services. other add-ons.

SubDAO will operate as a parachain to provide specific services. The diverse DAO models made available with the Airfone DAO ease the burden on developers in maintaining the DAO and creating DAO-linked Dapps.

The founder of a DAO mechanism can create a cross-chain DAO with just a few mouse clicks without any complicated technological knowledge. Dapp developers can empower the community by using SubDAO to create a DAO that is directly connected to the Dapp via the SubDAO Airfone.

In addition, the OCW (Off-Chain Worker) system supports access to real-life data. This makes it possible for SubDAO to collect information such as the market price of stablecoins, new contributions on Github, and other data.

Basic Features of SubDAO

SubDAO is the infrastructure of the Polkadot DAO mechanism. SubDAO will not only connect DAO with Dapp for cross-chain management, but also be the gateway between Web 2.0 and Web 3.0 space.

Through SubDAO's Web 2.0 platform, users can apply the DAO mechanism directly on traditional social platforms. Developers can quickly set up DAO administration features on blockchain, websites, mobile applications (iOS and Android) and even desktop software through SubDAO Airfone. 

In addition, possessing preset templates as well as tools for the ecosystem, SubDAO allows DAO to deploy various Dapp functions such as crypto asset management, credit lending and instant messaging.

The DAO is an ideal governance mechanism for a development team. However, creating and maintaining a DAO mechanism is not easy, especially a governance mechanism that can operate on cross-chain. With the help of Substrate 2.0 and Polkadot, the SubDAO team was able to realize this idea.

Besides, there are many other tools that help administrators to set up a DAO mechanism like Aragon, however, it is only available on Ethereum platform. Meanwhile, SubDAO is different from other DAO projects. The goals of SubDAO are:

• Support for cross-chain
• Provides universal as well as highly customizable features for managing a DAO
• Connecting is easy with Dapp
• Connect to off-chain information.

How to make money in SubDAO

In addition to receiving investment interest in the form of GOV tokens, users with programming and smart contract development skills can participate in creating templates for the contract template library of the SubDAO platform. Developers can then charge their products when other users use their templates, thereby earning a profit. 

Main features of SubDAO

Social network

The SubDAO network is a Polkadot-based DAO management platform, developed on the Substrate framework. SubDAO's goal is to provide tools to support DAO creation, fund management, voting, and customization so that developers who want to create a DAO and members can easily manipulate it. within that organization.

Electronic contract signing service

PolkaSign is a trusted Web 3.0 application for providing digital signature services. PolkaSign uses Substrate's framework running on SubDAO's network for development, providing both blockchain and decentralized storage. 

All details including signatures, signers, lists of signed agreements... are written in the form of smart contracts and are not easily changed or modified. PolkaSign can be replaced with any chain on Substrate and can provide services to any organization that needs to use electronic contracts.

Cross-chain wallet

DAOWallet is a wallet extension for Chrome browser that includes features such as wallet payments, social networking, and DAO administration. It was developed to connect the Web 2.0 platform with Web 3.0. Users can participate in the voting process on the DAO, make transactions with friends, and send congratulatory coins… on Twitter.

DAO infrastructure

The infrastructure of the SubDAO network consists of 4 main parts: SubDAO Node, SubDAO Airfone, smart contract and frontend (user interface). 

SubDAO Node

SubDAO Node is a blockchain node developed on the basis of Substrate. It has the full functionality of a blockchain node and adds the ability to provide off-chain information to the system. At the same time, it serves as the foundation for the SubDAO network.

SubDAO Airfone

The SubDAO Airfone Software Development Kit provides developers with a path to DAOs in the SubDAO network. From there, opening the feature to change the admin interface, helping developers to easily and quickly integrate DAO's administrative features on websites, mobile devices running iOS or Android operating systems. and computer software.

SubDAO Frontend

This is where users will directly interact with the platform. Through the SubDAO Frontend, members of a DAO can directly participate in administration by manipulating the interface.

Smart contract

SubDAO's smart contract is one of the core features of the DAO governance mechanism. By setting up smart contracts, administrative activities will be performed completely automatically without being affected by the intervention of anyone. Currently, the components in SubDAO Smart Contract include Template Library, Asset Vault and SubDAO Guard.

• The Template Library is an important component of the SubDAO network. It contains many pre-programmed smart contract templates for many different organizational models. All users have the right to create new templates according to their needs. Available templates include a voting feature template, a fund management feature template, a VC (venture capital) template and a few more.
• SubDAO Guard is the native DAO administration version of the SubDAO network. It provides basic administrative features. All members of the SubDAO network can participate in the governance of the platform through the SubDAO Guard feature.
• Asset Vault is a smart contract that provides the basic features of asset management for each DAO. In parallel with the sample library of available DAOs, the Asset Vault feature helps to manage all types of assets. These include assets needed to initialize a DAO, assets loaded from administrators, and several other types of assets.

SubDAO development team

Initiating a DAO mechanism is not a new concept for those who have entered the world of blockchain. This is similar to the fact that putting a man on the moon is no longer a fantasy. However, getting people to go from the earth to the moon and back to earth easily is a huge difference. 

That's also the concept the development team wants to exploit: Build a fast, cheap, and reliable network to get people to travel back and forth between the moon and earth, or even as far as Mars and Earth. So SubDAO was born as a similar solution that makes it possible for anyone to initialize DAOs and Dapps across chains.

The founding team of SubDAO Labs are people who are extremely passionate about Web 3.0 technology. They come from a variety of backgrounds, from full-stack programmers, project managers to early crypto advocates.

Key members of the SubDAO project development team include:

• Sang Tran: He is the Founder of PolkaWarriors, DotMarketCap.com and an Investment Partner at Illusionist Group.
• Tony Montana: He is the Founder of PolkaWarriors, DotMarketCap.com and Illusionist Group.
• Humphrey: I'm the Investment Advisor of paka.fund.
• Owen: I used to be a Partner of Stafi.io as well as a Business Partner of Wetez.
• Dajun: Dajun has more than 12 years of programming experience and has worked at Alibaba for 4 years. He is also a core development engineer for Wetez and StaFi.io.

SubDAO's development plan

State 1

In phase 1, the development goal of the SubDAO project was to complete all the proposed features and provide basic voting functionality for all DAOs. In the first leg, the features will be tested by a number of users, including:

• SubDAO Node with off-chain data access
• Template Library with basic features
• Security mechanism SubDAO Guard
• Default voting template
• Asset Vault
• Frontend.

Phase 2

During this period, more DAO templates will be integrated into the platform such as fund management templates and templates for VC investors. In addition, the SubDAO Airfone toolkit will be added so that developers can easily connect DAOs to their Dapps.

Stage 3

This is when the SubDAO network begins to provide services for all DAO models with specially tuned ones. At the same time, the project will launch a new version with a lower price for users. 

The integration of off-chain data collection functions through the OCW system will be built on the Substrate framework and validated by the development teams. The OCW data will be aggregated from sources contributed on GitHub. 

Ultimately, the big goal of the development team is to provide an essential foundation with the open source software development toolkit - Open SDK, to build a strong ecosystem on Polkadot.

Advisors, investors and partners of the SubDAO project

SubDAO has officially successfully raised capital from units such as Hypersphere, Huobi Ventures, Kernel Ventures, OKEx Blockdream Ventures, CMS Holdings, Signum Capital and many others. 

In addition, there are individuals including: Early members of DCG Group, former development director and founder of Massari – Ryan Selkis, founder of Mask Network – Suji and others. 

Financial investment from entities and individuals is very important as a strategic resource for the development of the SubDAO project.

GOV . token overview

What is GOV Token?

The GOV token is the native token of the SubDAO network. The name of the GOV token is an acronym for Governance, which means governance mechanism. The total number of GOV tokens is 1 billion tokens with an expected annual inflation rate of around 5%.

Functions of GOV . token

• Gas Fees : GOV tokens will be used to pay for DAO system functions, including initialization, voting, transaction execution, and other operations on the SubDAO network.
• Governance: GOV token holders will have the right to vote for all activities related to the governance and operation of the SubDAO system. Such activities include operational decisions, referral rights, system upgrades, council elections, changes to policies and incentives in the system, and some management features. other logic of the system.
• Rewards: GOV tokens will be rewards for staking functionality through Governance Minting programs as well as rewards for network activities.
• Payment costs for services and products: SubDAO will have 2 versions, General and Professional, of the Template Library, to meet the needs of organizations that administer DAOs from basic to advanced, including many types. (from the decision-making mechanism to the governance mechanism). SubDAO network funds will also be used to support and reward developers who come up with new smart contract templates. In addition, the system allows them to charge users different GOV token fees depending on their product investment.

Where can GOV tokens be bought and sold?

Currently GOV tokens are not sold on any exchanges. The SubDAO project intends to deploy on MoonRiver and see it as the first step to cooperate with other Parachains.

Potential of SubDAO project

SubDAO allows users without much technical knowledge to create DAOs easily. In addition, the project helps to connect DAOs with Dapps on Polkadot, supports cross-chain as well as connects to off-chain information. 

This is the solution to optimize costs as well as free up effort for organizations that want to apply the DAO mechanism to their apparatus. That is also the difference of SubDAO that helps the project to go beyond other DAO projects on the market.

summary

SubDAO has completed multi-million dollar funding from dozens of organizations including Huobi Ventures, OKEx BlockdreamVentures, CMS, Hypersphere, and several others. The founding team of SubDAO includes former IBM Corporation engineering team leaders and many well-known developers from Polkadot. SubDAO promises to be a potential project in the future.

Readers can get more information about the project through the following media channels:

Website | Project Information | Twitter | Telegram | Medium

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