InterDAO - Your Customizable DAO Tooling
It's time to redefine what "True Decentralization" is for DAOs. InterDAO is the go-to option for an admin system that is truly transparent and accessible for both the project and its community. Learn what InerDAO offers and how to start using it in this blog!
So far, DAOs have been utilized for various reasons, including investing, charity, fundraising, borrowing, and purchasing NFTs without the involvement of go-betweens. However, most DAOs today are not fully decentralized since the decision-making process is not yet automated. As a result, InterDAO was born to bring "true decentralization" to DAO users.
So, what is a DAO?
Decentralized Autonomous Organization, or DAO for short, is an institution's decision-making process based on open-source code and blockchain technology.
A key feature of DAOs is that they are governed by code rather than by people, which means no central authority controls someone who makes decisions for the organization. Instead, decision-making power is distributed among all organization members according to predetermined rules encoded in smart contracts.
What is InterDAO?
InterDAO is a customizable DAO tool on Sentre that helps create and manage your own DAO easily.
InterDAO will be your go-to option for a unified, decentralized administration system that provides transparency and simple access to the project and its community.
What makes InterDAO stand out?
InterDAO offers a solution for creating and managing DAOs with various options based on user's needs and purposes:
- No coding
- Multiple templates
- Manual or automated proposal execution
- Multiple voting mechanisms (stake, lock, vote by token, or NFT)
- Treasury administration
- Revenue sharing for DAO owners
- Three authorization modes: Dictatorial, Democratic, and Autonomous, to your demand.
How to use InterDAO?
It’s super easy to create a DAO! Click here to install InterDAO, then follow the steps below:
Step 1: Click on the "CREATE A DAO" button.
Step 2: Setup your type of DAO.
There are two types of DAO that you can select here.
- Flexible DAO: Allow you to design a DAO specific to your needs, set up your community, and arrange token governance. There are three types of regimes to meet your demand.
- MultiSig DAO (coming soon): There are more than one DAO’s wallet and owner.
After choosing, click continue.
Step 3: Input your DAO information
Enter your DAO's name, description, avatar picture, social media link and click “Continue."
Step 4: Set the rule of your DAO
Choose one of the three regimes to manage your DAO
- Dictatorial: Only DAO owner can create and execute proposals.
- Democratic: The community can create proposals, DAO owner executes proposals.
- Autonomous: The community can create and execute proposals.
Select your token and NTF address, which is used to attend and vote in your DAO.
Total DAO Power
Set the maximum number of tokens or NFTs used to vote in a DAO proposal.
Set your DAO privacy as Public or Private:
- Public: Anyone can see the proposals in your DAO
- Private: Only DAO’s Governance Token/NFT owners can see the proposals
Step 5: Click "Confirm," and now your DAO is ready!
Step 6: Create a proposal on your DAO
Once your organization is up and running, you can create the first proposal by clicking “New Proposal.”
Step 7: Select your template
You may develop your proposal using templates available with Sentre or create your own.
Blank: create a proposal that doesn't execute anything after it's finished and does not make a transaction. This template is used for taking member’s opinion
- Transfer: Create a proposal to transfer tokens from one wallet to another.
- Approve: Allow this wallet to use money with a specific amount in another wallet.
- Create: Create an account to be able to go to Zeta to use its app
- Deposit: Add tokens to the created account
Step 8: Fill out all the information and click “Add New Proposal”
Title: A short summary of your proposal
Description: More detail about your proposal
Proposal Duration: Select the start and end dates of your proposal
Voting Mechanism: Determine the amount of your vote power
- Stake to Vote: One vote equals one power (ex: vote 1 SNTR equal to power = 1)
- Lock to Vote: In this mode, the sooner you vote, the stronger your power.
Power = the amount of vote * time remaining
(time remaining = end time - start time)
Consensus Quorum: There are three types ⅓, ½, and ⅔.
For example, when the consensus quorum is ½
"Vote for" power - "Vote against" power > Total DAO Power2
If the above is true, this proposal will succeed, and vice versa.
Now that you know how to make a DAO and create a proposal to vote on InterDAO, it's time to put your plan into action. Create your DAO today at InterDAO.
About Sentre Protocol
Sentre Protocol is a DApp Store for All Things Solana where:
- Users can install and use their favorite DApps on a single platform;
- Developers and partners can deliver their DApps through Sen Store, fully use available resources and contribute to the platform with no restriction.
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