DAOrayaki Research | DAO Project——ElasticDAO
DAOrayaki DAO Research Grant:
Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71
Voting Result:DAO Committee Yes
Grant Amount:170 USDC
Category:DAO, DeFi, Governance, Maximum voting power, EGT
Contributor:Jones, 朱莉白@DAOrayaki

ElasticDAO

Name: Jones

Keywords: DAO, DeFi, Governance, Maximum voting power, EGT

Financing:

ElasticDAO current price: $185.94 USD

ElasticDAO current volume: $7.72M USD

Launch date (mainnet): 17 March 2021

Token name: Elastic Governance Token (EGT)

Token type: EGT is issued under the standard protocol ERC20.

Introduction:

ElasticDAO a protocol that focus on fairness between community members founded by a team of DeFi natives with a great experience in different major projects, like PieDAO, MetaGame. The protocol main goal consists in providing balance for the competing interests of different stakeholders cited in different organizations. Both dev teams and the community can possibly build and govern organizations next to each other, there is no need to turning DeFi to a warzone, while fairness can be accomplished. The creators of such a DAO believe in collectivity and collaboration between members, where it eventually leads to an attainable ecosystem. The protocol motivates participants to enhance the community in efficient way by taking positive actions toward the organization, and rewards the active participants for their contributions, while penalizing bad actors for not being active around the community.

ElasticDAO considered the first deployed DAO governed by the Elastic Governance Token (EGT), these tokens fuse positive rebasing with a bonding curve to make sure that the members of such a DAO are the initial and essential beneficiaries. The EGT high demands leads to a value increase, while positive rebasing provides more token receiving for the participants. EGT token can be redeemed anytime with no additional costs or negative rebasing. In addition to that, anyone who contributes to the DAO's objectives is rewarded by the minting of new EGT. This lowers the backing value of each EGT, making EGT more affordable for new members to join ElasticDAO, and promoting more decentralization.

Team members:

The ElasticDAO working area is widely opened and contains several contributors of DeFi natives below we list them along their Discord accounts:

CORE founders:

The core team has extensive experience in major decentralized projects, such as PieDAO, MetaGame, Sushiswap, NFTX, Alchemix, and ESD.

Dan Matthews known under LsDan: ElasticDAO#5166

Chrissu: ElasticDAO#8755

Byzg: byzg#5254

SSDD: ElasticDAO#0001

STAFF members:

AlleyCat: AlleyCat#4282

Ash: ElasticDAO#3691

Nick: ElasticDAO#0007

ElasticDAO governance and incentive mechanisms:

ElasticDAO’s governance approach consists in limiting the wallet’s maximum influence. All participants are seen the same, where opportunities and privileges are accessible and provided for everyone “All for one, one for all”. whether it is a position, time of entry, or even a holding value it doesn’t matter and that is what is known as the “Fair Governance”.

As all DAOs, ElasticDAO released fully decentralized and community-owned with Snapshot as its first voting module, leading to consensus reach with the lowest gas fees possible and the total organization control by its token holders. This indicates that the majority of token holders are the ones to decide whether an update concerns the protocol can be passed or not.

Down below are the required ways to achieve a fair governance:

  • Governance power limitation;
  • Voting encouragement by offering rewarding/penalizing model.

Voting approach:

ElasticDAO is mainly controlled by EGT token holders who play the essential role in submitting and voting on proposals to govern the ecosystem. An off-chain voting solution is used to achieve the voting via a module integrated with snapshot. The votes are then certified by a 9-member multisig.

Maximum voting power:

Limit the voted-tokens by setting a maximal value set by the DAO at launch, where this maximal value is increasable by EGT rebasing, adjustable by ElasticDAO members through a voting process.

Whitelist:

Offering privileges to participants to meet their new requirements and that is by allowing them to create new proposals via the snapshot module, if they meet the required criteria concerning the voting power threshold.

Quorum:

A proposal that holds at least 60% of token holders votes is considered passed as long as it has reached the quorum, with a 50% passing-threshold for eligible EGT voting requirement.

Rewards:

Voting means rewarding, according to the creators no matter what the individuals vote, and whether the voted proposals are going to reach quorum or not, they will always get rewarded. As long as following the possible ways for EGT voting which are: proposal approving, proposal abstaining, or proposal denying. The number of voted-EGT decides the participants reward, where the reward variable is currently 5%, from the other hand the merge of the maximum voting power and rewards dramatically helps to increase the relative voting power of smaller EGT holders.

Penalty:

If a proposal fails to meet quorum, the proposer may require that multisig signers penalize the inactive participants in the previous vote, as long as the previous vote was active for at least 24 hours. At the moment, the penalty threshold is 10%. In this way all individuals will pay attention for proposals providing and suggesting in a fair way and free riders will be removed for their impact on a quorum.

Multisig:

To handle the community and provide a full active-monitorized platform, the creators hand the following responsibilities for the multisig holders: weekly distributed rewards, smart contract calls executions via passing proposals, free riders penalization, guarantee an operational multisig with new EGT refurbishment

Contracts:

Main contracts are provided in the table below:

Name

Address

DAO

0xaaa1f5fc9617195b5aa7fd1bd989d47f9e8d3f82

Token

0x2aa5ce395b00cc486159adbdd97c55b535cf2cf9

Pool

0xc7FF546c6CbC87Ad9f6F557db5A0df5c742cA440

For further knowledge about the ElasticDAO different contracts please visit: https://github.com/elasticdao/contracts

Official Website: https://elasticdao.org

Social Media:

Twitter: https://twitter.com/elasticdao

Discord: https://discord.gg/rbj9MTRX

Medium: https://medium.com/elasticdao

Forum: https://forum.elasticdao.org/

Github: https://github.com/elasticdao

CoinGecko: https://www.coingecko.com/en/coins/elastic-dao

Block Explorer: https://etherscan.io/token/0x2aa5ce395b00cc486159adbdd97c55b535cf2cf9

ElasticDAO项目调研

英文调研人:Jones

中文调研人:朱丽白

调研日期:2021-4-16

关键词:DAO, DeFi, 治理机制, 最大投票权(Maximum voting Power), EGT

市值:

目前币值:$185.94 USD

目前市值:$7.72M USD

发行日期(主网):2021年3月17日

代币名称:Elastic Governance Token(EGT)

代币类型:ERC-20

项目 介绍:

ElasticDAO是一个关于社区成员之间公平性的治理协议,由拥有丰富的DeFi行业,如PieDAO, MetaGame创业经验的团队创立。该协议的主要目标是平衡不同组织中的利益相关者的利益竞争。开发团队和社区都可以构建DAO组织和互相治理,没必要把DeFi变成战场,又可以同时实现公平。

社区创造者相信社区成员之间的集体意识和协作能力,这是一个可实现的生态系统。该协议激励参与者通过对社区采取积极的行为并给予参与者奖励,同时惩罚社区中的不积极且具有不良行为的成员。

ElasticDAO是第一个由EGT代币治理的DAO,这些代币融合了正向供应调整(positive rebasing)和联合曲线(bonding curve),以确保DAO成员的收益。EGT的高需求导致价值提高,而正向供应调整则使社区参与者获得更多代币。EGT可以随时兑换,无需负担额外费用和负向供应调整(negative rebasing),除此之外,任何为DAO社区作出贡献的人都可以获得新的EGT代币奖励。這降低了每個EGT的支持價值,让新成员更容易加入ElasticDAO,促使更多的权利下放。

团队成员:

ElasticDAO是一个开放社区,包含了DeFi领域的资深贡献者。主要成员及Discord账号 如下

核心成员:核心团队在去中心化项目中拥有丰富的经验,如PieDAO, MetaGame, Sushiswap, NFTX, Alchemix, and ESD。

成员及账号如下:

Dan Matthews: ElasticDAO#5166

Chrissu: ElasticDAO#8755

Byzg: byzg#5254

SSDD: ElasticDAO#0001

工作人员:

AlleyCat: AlleyCat#4282

Ash: ElasticDAO#3691

Nick: ElasticDAO#0007

ElasticDAO治理和激励机制:

ElasticDAO的治理方法包括限制钱包的最大影响力。所有参与者平等,每个人都可以获得机会和特权。社区秉持的理念是“人人为我,我为人人”。对于社区成员的所处地位,参与时间,甚至是持有价值都不重要,这就是所谓的“公平治理”。

和所有的DAO一样,ElasticDAO是完全去中心化的社区,将Snapshot 作为第一个投票模块,以低gas和代币持有者治理,促成共识达成,这表明代币持有者决定着社区协议的更新。

通过以下方式实现公平治理:

  • 治理权力限制。
  • 通过提供奖励/惩罚模式进行投票鼓励。

投票方式:

Elastic DAO 主要由 EGT 代币持有者管理,在提交治理生态系统的建议和投票中具有重要作用。投票采用链下投票方案,通过snapshot模块实现投票。投票结果由9人组成的多重签名组确认和审核。

最大投票权(Maximum voting Power):

通过在启动时设置一个最大值来限制代币,这个最大值可以通过EGT供应调整(rebasing)来增加,由ElasticDAO成员通过投票来调整。

白名单:

向参与者提供特权,以满足新的要求,如果满足投票权阈值,既允许他们通过snapshot模块创建新的提案。

法定人数:

只要提案已达到法定人数,且提案至少60%的代币持有者投票,通过率达到50%,便视为已通过。

奖励:

根据创建者的说法,投票即是奖励,无论成员投什么票,以及投票的提案是否达到法定人数,只要遵循EGT的投票方式:提案批准,提案弃权或提案拒绝。都将获得奖励。 已投票的EGT的数量决定了参与者的奖励金额,而当前的奖励变量为5%,另外,最大投票权和奖励的合并极大地提高较少的EGT持有者的相对投票权。

惩罚:

如果提案未能达到法定人数,则提案者可以要求多名签名者对先前投票中不活跃的参与者进行处罚,但改提案的投票活跃度必须超过24小时。同时,惩罚阈值为10%。这样,所有成员都会以公平方式对提案进行关注和建议,考虑到法定人数的影响,不积极参与的成员将会被撤销。

多重签名:

为了管理社区并提供一个完整的主动监控平台,创建者将以下各项职责交给了多重签名持有者:每周分发奖励,通过智能合约执行通过的提案,不积极参与者受到惩罚,通过持续更新EGT确保多重签名运转。

合约:

主要合约地址见下表:

Name

Address

DAO

0xaaa1f5fc9617195b5aa7fd1bd989d47f9e8d3f82

Token(代币)

0x2aa5ce395b00cc486159adbdd97c55b535cf2cf9

Pool(矿池)

0xc7FF546c6CbC87Ad9f6F557db5A0df5c742cA440

欲知更多可访问:

https://github.com/elasticdao/contracts

官网: https://elasticdao.org

社交媒体:

Twitter: https://twitter.com/elasticdao

Discord: https://discord.gg/rbj9MTRX

Medium: https://medium.com/elasticdao

Forum: https://forum.elasticdao.org/

Github: https://github.com/elasticdao

CoinGecko: https://www.coingecko.com/en/coins/elastic-dao

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