STARCOIN: Design Intent of DAOSpace

Published at July 21, 2022 By Starcoin.


Let’s unlock the next level in a cool way.

Starcoin is to launch an integration product DAOSpace in August. A platform for decentralized autonomous organizations that provide services for human interests.

DAO, a significant form of organization for Web 3.0, has reshaped the way we collaborate, make collective decisions, and distribute resource wealth, and can address the limitations of centralized governance, providing democratized pathways to manage and direct efforts to achieve a wide variety of goals. Open source software, blockchain technology, economic incentives and programmable smart contracts provide greater transparency and trust.

As DAOs gain momentum, the formation of DAOs can be seen as a natural evolution of blockchain-based startups. Creating a structure that is based on transparency and allows members to share ownership of the platform through tokens, will leverage the potential of blockchain.

Although DAO is at an early stage of development, its main strengths and weaknesses have emerged, the strengths compared to traditional forms of organization, DAO may provide a way to achieve greater transparency, trust, adaptability and speed to achieve the common goals and interests of the organization, on the contrary, DAO has many potential weaknesses, high cost and limited DAO-friendly resources or tools, proposals stuck in voting results and lack of DAO implementation practices, governance lack of standardized tools to adapt to different needs also brings the project and organizational inefficiencies and other issues.

The explosion of Web3 also shows a trend of diversified and systematic demand for the platform tools established by DAO, which poses a new challenge to the systematic construction of DAO platform tools. Small-scale DAO application scenarios are relatively flexible, however, the more members and the more proposals will gradually reduce the elasticity of DAO governance, which will have an impact on the motivation and participation of DAO members.

Therefore, Starcoin’s exploration of DAO platform development is to build a decentralized system with people (not power) as the core, based on the decentralized autonomy provided by technology and tools, and the freedom to gather together to maximize the value of the organization driven by the belief of individual rights and interests.

Starcoin’s DAO platform, DAOSpace, autonomous code-driven executability, allows DAOs to reduce bureaucracy and negotiation costs by eliminating the need for permission through smart contracts, which will allow DAO members to vote on the chain to automatically effect execution on the chain.

The goal of DAOSpace is to build a chain-native all-in-one DAO service system for developers to create DAOs that meet their own project scenarios through scalable, freely combinable, easy and flexible plugins.At the same time, it can also provide a simple combination of DApp way, so that ordinary users can also use the built-in system contract and third-party plug-ins to combine the DAO to meet the application of multiple scenarios in a codeless way.

Starcoin is a long-time DAO practitioner that has implemented scalable governance on-chain based on STC voting from day one of the mainnet, enabling users to co-create value in a trusted environment. We don’t want to talk about empowering individuals, because that’s a right that exists. What we do is to provide a platform for people who value individual rights and to assist all superior resources to sustainably provide the support of transparent and fair governance mechanisms.

If interested in how this will start, please join the DAOSpace Telegram group to discuss! Welcome aboard!