Please describe your proposed solution.
Extend our existing DAO infrastructure to enable Agora DAOs to stake treasury assets to Stake Pools to further decentralize and secure the Cardano Network. We will make this possible for non-technical users by creating a proposal template for DAOs create a proposal that will stake treasury assets to a Stake pool after going to a community wide vote for approval.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
Success for this challenge states “There are no better ways to manage your DAO than to use Cardano DAOs.” By extending the Clarity DAO infrastructure (<https://projectcatalyst.io/funds/9/f9-daos-less3-cardano/clarity-dao-infrastructure>) to enable DAO treasuries to stake to SPOs we are continuing on our mission to create the best DAO tooling in the web3 ecosystem.
Empowering DAOs to stake their funds directly to Stake Pools promotes further decentralization of the Cardano network. By enabling DAO treasuries to participate in the staking process, we aim to increase overall stake and allow DAOs to earn yield by staking, thereby reinforcing network security and fostering a more robust ecosystem. This solution aligns with our commitment to embracing decentralized governance principles and actively contributing to the advancement of the Cardano network.
These integrations will also help improve the key metrics of the challenge by increasing the number of communities and projects engaged in collaboration using Cardano DAO creation tools, increasing the amount of ADA coming from DAOs transaction fees, increasing the number of DAOs that use Cardano as a governance/management chain, and increasing the number of DAO toolsets available for DAO ops.
How do you intend to measure the success of your project?
To measure the success of our DAO-Owned Staking Key project, we will track the following metrics and key performance indicators (KPIs):
Adoption and Participation:
- Number of DAO treasuries actively utilizing the DAO-Owned Staking Key feature to participate in DeFi protocols.
- Rate of adoption among different types of DAOs (e.g., industry-specific DAOs, community-driven DAOs).
Total Value Locked (TVL):
- Total value of assets staked by DAO treasuries in stake pools using the DAO-Owned Staking Key feature.
- Growth rate of TVL from DAO treasuries participating in staking through the implemented feature.
Return on Investment (ROI):
- Calculation of staking rewards earned by DAO treasuries using the DAO-Owned Staking Key feature.
- Comparison of ROI for DAO treasuries utilizing the feature against alternative investment options.
Security and Trust:
- Number of successful staking transactions conducted by DAO treasuries using the DAO-Owned Staking Key, without any security incidents or breaches.
- Feedback and satisfaction levels of DAO treasuries regarding the security and reliability of the feature.
Community Engagement:
- Level of engagement and feedback from the Cardano community regarding the DAO-Owned Staking Key feature.
- Participation in community forums, discussions, and feedback channels related to the implemented feature.
- Incorporation of community suggestions and improvements into future iterations of the feature.
Ecosystem Growth and Decentralization:
- Number of new stake pool operators (SPOs) onboarded due to increased stake delegation from DAO treasuries.
- Percentage increase in the total number of stake pools as a result of the involvement of DAO treasuries.
- Analysis of the impact on Cardano's decentralization metrics, such as stake distribution and pool diversity.
By monitoring and analyzing these metrics, we will assess the effectiveness and impact of the DAO-Owned Staking Key project. This data-driven approach will enable us to make informed decisions, identify areas for improvement, and ensure the long-term success and growth of the feature within the DAO infrastructure.
Please describe your plans to share the outputs and results of your project?
We are committed to transparently sharing the outputs and results of our DAO-Owned Staking Key project with the community and stakeholders. Our plans for sharing include:
Documentation and Guides:
- We will create comprehensive documentation and user guides that explain the functionality and benefits of the DAO-Owned Staking Key feature in a non-technical manner.
- These resources will outline step-by-step instructions on how to utilize the feature and participate in staking using the Clarity platform.
- The documentation will also cover the process of creating on-chain proposals using the Clarity platform and highlight the automatic execution mechanism upon community approval.
Community Engagement:
- We will actively engage with the Cardano community through various channels, such as forums, social media platforms, and community meetups.
- We will host dedicated Q&A sessions and webinars to address questions, provide clarifications, and gather feedback from the community regarding the DAO-Owned Staking Key feature.
- This engagement will foster open dialogue, encourage participation, and ensure that the community remains informed and involved in the project.
On-Chain Proposals and Voting:
- Leveraging the capabilities of the Clarity platform, we will create an on-chain proposal detailing the DAO-Owned Staking Key feature and its implementation.
- The proposal will include all relevant information, such as the benefits, technical details, and expected outcomes.
- Community members will have the opportunity to review and vote on the proposal directly on the blockchain, ensuring a transparent and decentralized decision-making process.
- If the proposal receives community approval, the execution will be automated, and the DAO-Owned Staking Key feature will be implemented accordingly.
Regular Updates and Reports:
- We will provide regular updates and progress reports on the implementation of the DAO-Owned Staking Key feature.
- These updates will outline milestones achieved, key insights gained, and any adjustments made based on stakeholder feedback and community engagement.
- The reports will also include relevant metrics, such as adoption rates, TVL growth, and community sentiment, to showcase the impact and success of the project.
By employing these communication and engagement strategies, we aim to foster transparency, community involvement, and accessibility, enabling both technical and non-technical users to understand and actively participate in the DAO-Owned Staking Key project.