DAOrayaki Research | DAO Project——ElasticDAO：
DAOrayaki DAO Research Grant：
Fund Address: DAOrayaki.eth
Voting Result：DAO Committee Yes
Grant Amount：170 USDC
Category：DAO, DeFi, Governance, Maximum voting power, EGT
Keywords: DAO, DeFi, Governance, Maximum voting power, EGT
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.
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.
The ElasticDAO working area is widely opened and contains several contributors of DeFi natives below we list them along their Discord accounts:
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
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.
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.
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.
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.
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.
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.
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
Main contracts are provided in the table below:
For further knowledge about the ElasticDAO different contracts please visit: https://github.com/elasticdao/contracts
Official Website: https://elasticdao.org
Block Explorer: https://etherscan.io/token/0x2aa5ce395b00cc486159adbdd97c55b535cf2cf9
关键词：DAO, DeFi, 治理机制, 最大投票权(Maximum voting Power), EGT
代币名称：Elastic Governance Token(EGT)
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。
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。
Dan Matthews: ElasticDAO#5166
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):