To make DAO collaboration possible on Cardano we will need project mentors, institutional support, and out-of-the-box governance tooling. Our goal is to make Summoning a DAO on Cardano as easy as filling out a web form for templated applications or highly customizable if the organization should be more nuanced.
ADAO has put together a specialized working group made up of experts in various related fields from within the organization that will lead and further develop Project SUMMON. These experts will offer development support, knowledge experience, access to ADAO resources, and guidance to ensure community and project needs are met as tools and regulations progress.
V1 functionality for SUMMON on-boarded projects will be:
- On-Chain Functionality for blockchain organizations via Native and or Plutus scripts.
- Decentralized Treasury management and Governance Frameworks.
- Security, through open source code, internal and external independent audits.
- Development and organizational support.
- Educational community support, to promote best practices within new formed organizations.
In addition to the on-chain tooling ADAO will create a Stiftung non-profit foundation in the legal jurisdiction of Liechtenstein. This jurisdiction has been chosen because of its progressive recognition of digital assets, favorable regulation of non-profit activities, and high commitment to the rule of law.
By having an organization dedicated to mentoring new groups and developing tools for them to use the Cardano Ecosystem will be greatly benefited. In the past few months since it was formed, ADAO has already become a major contributor to the Cardano DAO community.
ADAO has developed partnerships with Liqwid Labs and Cardano Sounds to co-create open-source code repositories together. ADAO has also partnered with Rats DAO and the Smart Contract Audit Token to build customized governance systems.
All repositories developed by ADAO are open source and available for use and modification by other developers.
Main challenges for success are Cardanos lack of open source DAO tooling. Although there are many projects proposing "DAO tooling" nothing user friendly has yet to be delivered or open sourced, because of this many decentralized projects ignore Cardano and choose to build on other blockchains. Thanks to the open source work of groups like ADAO, Liqwid Labs, and Mlabs we are starting to see open source tools, libraries, and applications come online that can help us overcome these challenges and make Cardano the go to blockchain for DAOs and Decentralized community projects.