View all News

Dao Bull Disentangles DAO Deployment

EOSIO Beyond Blockchain Hackathon Winner Announced - featured image

The EOSIO Beyond Blockchain Hackathon ran from March 2 – April 6, 2021. The month-long event challenged participants to develop solutions that integrate cloud computing with EOSIO and to build projects focused on making a significant global impact.

Hosted with partners Google Cloud, Galaxy Interactive, and Mythical Games, the EOSIO Beyond Blockchain Hackathon brought together 1,315 participants from 107 countries to compete, innovate, and build for the future with the power of blockchain and Google Cloud.

This year’s winning submission came from Dao Bull, who created a platform that allows anyone to create their own decentralized autonomous organization (DAO) network in minutes. The teams from Dao Bull and fellow Hackathon finalists, gGoods and Recoverable Online Wallets, also won the opportunity to pitch their projects to Google and

Autonomy for Communities

A DAO is an automated organization that is governed by numerous participants instead of any one central individual or entity. A DAO can provide a community an incorruptible means to manage shared resources, however setting up and managing a DAO can be complicated. Dao Bull reduces complexity and gives anyone the power to build a decentralized infrastructure with the scalability and efficiency of EOSIO and the social and community management tools of Google Cloud.

Callum Dickson, a member of the Dao Bull team and head of UX at Big Picture Software, relates that the team was motivated to supercharge the community building toolbox. “What would happen if these online communities could effectively pool capital? What would happen if they could effectively govern how that capital is allocated, had a higher level of digital asset security than most banks, and a more sophisticated governance architecture than most nations?”

Simone Ruggeri, Dao Bull project manager, describes the project’s ambitions along the lines of a public community garden. While the community remains small, it might make sense for it to be managed by a smaller group of individuals. However, as the community grows and the scale of the garden’s use expands, it can become increasingly difficult for the community to make decisions about how the garden should be used.

Reputation Based Voting

One possible way for a community to decide how to manage public resources is reputation based voting. According to Simone, reputation systems work best as a fix for accountability once communities scale beyond the point where interpersonal relationships play a role in terms of management. Dao Bull gives a community tools to measure participant reputation based on what each individual does for the community.

For example, Dao Bull gives DAO operators the option to mint a governance token, to be given out to anyone perceived as providing value to the community, thereby creating a rewards system to establish and measure reputation.

When the time comes to make decisions that affect the communal space, the governance token facilitates a democratic voting process where the voting power of each community stakeholder is proportional to their reputation.

Joining DAO and Cloud Technology

Dao Bull immediately set out to use EOSIO as a foundation, solving for scalability and resource management issues that senior platforms are currently experiencing. “With EOSIO software, we have been able to let the users create and manage their DAOs without spending a huge amount of fees,” explains Dao Bull team member and blockchain developer Marco Ruggeri.

With lower transaction costs, a wider range of individuals will be able to see their ambitions through by accessing Dao Bull’s community building toolkit.

Dao Bull’s web tool allows anyone to quickly set up their own DAO and adjust the settings for various parameters including stakeholders, voting, resource distribution, governance, and more. A search feature also allows users to browse through the existing DAO project community.

To launch a DAO, one must first follow prompts to link their EOS account. Next, an organization name must be set and a description provided. Following these steps, voting settings must be configured such as the duration for a voting period, and thresholds for support and approval. These settings will affect all proposals on the platform, and it is possible to reconfigure them as necessary.

Once voting settings are defined, information must be entered for shareholder settings, including the number of shares, a share symbol, as well as each shareholder’s account address and balance. Although these settings can also be reconfigured at a later time, at this time it is not possible to alter the value of the total number of shares after it has been set.

Upon completion of the steps prior, it is necessary to review the set up, confirm, and create a new DAO. Dao Bull’s hybrid system uses EOSIO to manage shareholders, financials, and voting features on-chain while features like the forum, event planning, and a file repository on Google’s Cloud infrastructure.

In future iterations of the product, Dao Bull intends to release additional features, including support for payroll, Kanban Boards, social, fundraising, permissions, as well as an application center for third party developers.  We look forward to watching them as they continue to expand the project! 

Building on EOSIO?

Our #BuiltOnEOSIO series showcases some of the amazing projects leveraging EOSIO technology to build a more secure and connected world. If you would like to suggest a project for us to feature please send an email to [email protected] for our Developer Relations team to review.

– Developer Relations team

Important: All material is provided subject to this important notice and you must familiarize yourself with its terms. The notice contains important information, limitations and restrictions, relating to our software, publications, trademarks, third-party resources and forward-looking statements. By accessing any of our material, you accept and agree to the terms of the notice.

Sign up to receive all the latest news & insights from EOSIO