bitsong

Prop 36: Fund DAO DAO Deployment

A DAO DAO deployment on BitSong will enable community-driven media and collaboration, such as DAO record labels, streaming services, artist curation, and more.

About DAO DAO

With DAO DAO, BitSong projects and communities have immediate access to best-in-class DAO tooling without needing to build their own governance modules, smart contracts, UI, and more. Try it today: https://daodao.zone

Our mission is to build better, more flexible governance systems. Getting governance right is crucial to the success of decentralized communities, protocols, and entire blockchains, and DAO DAO makes it as easy as clicking a few buttons to experiment with and scale governance infrastructure.

Today, over $300M is managed by 5,157 DAO DAO DAOs across 9 chains (and growing). Our smart contracts and UI have been battle tested by 11,838 proposals encompassing 32,795 unique DAO members for over 2 years. Over $1M (and many, many hours) have been put into the necessary research and development, as well as the perfection of each feature, with a solid chunk devoted to numerous security audits.

The biggest features we aim to bring to BitSong:

  • Token DAOs, NFT DAOs, and Membership (multisig-like) DAOs
  • Beautiful UI for making proposals, voting, and exploring DAOs
  • Cross-Chain Accounts via Polytone
  • Vesting and Retroactive Payment solutions
  • Sophisticated organizational structures using SubDAOs and Authz

And much more:

  • Treasury spends and swaps
  • Staking management
  • Veto and approval flows
  • NFT creation and management
  • On-chain, governance gated key / value store
  • Proposal inbox
  • Customizable DAO widgets
  • DAO Press: publishing tools for a DAO-run blog, official communications, and more
  • Bulk actions import
  • Smart contract management (instantiate, execute, migrate, update admin)
  • DAO-run validators (check out ours here: https://daodao.zone/dao/juno185hgkqs8q8ysnc8cvkgd8j2knnq2m0ah6ae73gntv9ampgwpmrxqc5vwdr)
  • Push and email notifications
  • Native mobile support
  • etc.

Our immediate roadmap include:

  • Staking rewards
  • Voting with locked vesting tokens
  • Voting delegations
  • Treasury rebalancing management

Polytone Interchain Accounts and Queries

In addition to DAO DAO contracts, BitSong will receive Polytone to allow for accounts, smart contracts, or DAOs on BitSong to control accounts on other chains, and vice versa.

We are excited for the new possibilities that will be unlocked for developers and the wider BitSong community. For example, a smart contract (or DAO) on another CosmWasm chain can control an account on BitSong to sell or purchase music. BitSong teams can also use it to manage outposts across the Interchain. Moreover, Polytone includes an easy to use Interchain Queries implementation, allowing for smart contracts on other chains to reliably query information from BitSong.

Audits

Codebases

DAO Contracts: https://github.com/DA0-DA0/dao-contracts

DAO DAO UI: https://github.com/DA0-DA0/dao-dao-ui

Polytone: https://github.com/DA0-DA0/polytone

Custom Support

DAO DAO’s Token DAOs are currently configured to work with the standard token factory module made by Osmosis and used across the Cosmos. BitSong on the other hand uses a custom SDK module: x/fantoken.

In order to support this, we will create a new DAO voting module, similar to our existing dao-voting-token-staked contract, in order to fully support the BitSong ecosystem.

This includes support for existing BitSong Fan Tokens to run DAOs, and it will be released as soon as available.

Ask

In exchange for all this, we ask for 2,000,000 $BTSG vested over 18 months (starting from when this proposal passes) instead of our usual upfront fee—since BitSong is a small ecosystem with limited liquidity. This serves to align our projects long term and alleviate the financial burden of a DAO DAO deployment. We believe DAOs are crucial to the sustainable expansion of the BitSong ecosystem and are happy to provide access to sophisticated tooling in this early stage.

The entirety of the funds will be transferred to a BitSong team wallet (bitsong166d42nyufxrh3jps5wx3egdkmvvg7jl6k33yut), which is then responsible for initiating the vest.

We plan to deploy both membership-based (multisig) DAOs and NFT-based DAOs immediately and begin the custom Fan Token work in parallel. We will release support for Fan Token DAOs as soon as the new contracts are ready.

Included in this ask is the promise of future security and feature upgrades, as well as ongoing support. Each new deployment incurs significant ongoing support and maintenance costs. We aim to provide ongoing, high-quality support, which is built into our fees.