DAOrayaki Research | DAO Project——DeGate

DAOrayaki DAO Research Grant

Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

Voting Result:DAO Committee Yes

Grant Amount:170 USDC

Category:DAO project coverage,Ethereum Layer 2 DEX, rollup-based solutions, two-tiered system management, Liquidity Bootstrapping Pool, centric-protocols

Contributor:Jones, 朱莉白@DAOrayaki

DeGate

Name: Jones

Keywords: Ethereum Layer 2 DEX, rollup-based solutions, two-tiered system management, Liquidity Bootstrapping Pool, centric-protocols

Financing:

DeGate current price: $0.316 USD

DeGate current volume: $23.43M USD

Launch date (mainnet): March, 7 2021.

Token name: DG is considered to be DeGate’s native token.

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

Introduction:

According to Gulu, the inspiration to build DeGate is the ethos that blockchain itself embodies, where DeGate defined as a DAO-centric protocol of the community, by the community, and for the community. In which, both openness and transparency are guaranteed.

DeGate is a rollup-based L2 DEX, where trading fees are at their lowest and volume liquidity is at its highest. It is expected to encompass a full-set of exchange-related modules but not limited to autonomous-market-making (AMM) functionalities, orderbooks, leverage-capabilities, L1-L2 bridge, fiat on/off-ramps, and initial-offering capabilities.

Team members:

Founder of KEY GROUP Bin Lu (A.K.A Gulu) has been around the crypto industry since 2011 and he is considered to be the one behind the Layer 2 Decentralized Exchange DeGate.

There is not much informations about the DeGate dev team which is KEY GROUP except that DeGate is initially owned and controlled by Home DAO, where this latter designate Council DAO as the decision-making management group, the below members are considered the DeGate administrators according to their Discord server:

Larry Jones: Lary_Jones#5777

MissDeGate: MissDeGate#8045

DeGate governance mechanism:

DeGate protocol governance mechanism follows the community governance, which is conducted by a “two-tiered DAO system”: Home DAO, Council DAO. Although Home DAO hold the right to alter everything about the DeGate protocol, the dev team has a foundational principles by which as a social contract that will not be easily changed. The list below contains these different principles:

- Home DAO is 100% in charge of any losses caused by DeGate protocol’s own lack of care.

- Minimize the tyranny of (token) majority is aimed by Home DAO.

- Ensure the balance between stability and flexibility using a two-tiered DAO system to conduct the governance structure.

Two-tiered DAO system:

Home DAO and Council DAO are considered as the two-tiered system responsible of the protocol governance, where:

o Home DAO has the complete ownership of the DeGate protocol.

o Council DAO is designate by the Home DAO to manage the day-to-day decision-making.

Home DAO:

With the Home DAO being the owner and controller of the DeGate protocol, it became entitled to the revenue generated:

o All generated revenue will be swapped to DG token and hold withing the Home DAO account / treasury.

o DG token will determine the Council DAO members via an election process that considers these tokens as votes.

o Home DAO will provide the necessary funding for the Council DAO along with giving the full right to exercise capital allocation power at its discretion.

o The Home DAO controls Council DAO in a way that it can freeze and withdraw the funds, or to a re-elect a new Council DAO , and that is by holding Council DAO smart contract.

o Home DAO has the ability to vote or any governance proposals with its DG token, where these kinds of proposals are launched by both Council DAO and DG token holders that meets the requirements.

o In short terms, anything includes highly importance will be directly decided by Home DAO. Allowing this will help with the stability and consistency of decision making along with trust collecting.

Council DAO:

When it comes to decision-making Council DAO appears since it is assigned by the Home DAO to manage these decisions.

o Partial rights for the Council DAO to part of the DeGate protocol’s smart contracts.

o Council DAO will take control over the budget received from Home DAO that only concern DeGate operations.

o Achieve a highly competitive market environment to allow the protocol for reacting quickly in the hands of the Council DAO.

o The board members of the Council DAO are elected by DG token holders, while Council DAO decisions are elected by one board member for each vote.

o Hiring employees directly and outsource tasks to outside 3rd parties is considered as one of the Council DAO abilities.

DeGate incentive mechanism:

DG Token Allocation:

The supply for the DeGate protocol from the DG tokens is around 1 Billion, completely owned by Home DAO initially.

- 19.8% Founder Financing: the founding team would obtain the stake of 990.000 USD, by which the tokens will vest linearly over 4 years. The unvested tokens can enjoy the same set of token rights but cannot be transferred.

- 44.0% Incentives: Taking liquidity mining into consideration to provide an allocation for the DG tokens, where the founding team expect that 1/11 of the (44%) would be allocated for token-swap offering to KEY holders (BIHU and MYKEY users). Founders believe that KEY exchange channel will impact consensus constructing and diversify DeGate’s reach.

- 20% for Financing: guarantees a stable continuous growth for raising capital throughout the time. The 20% allocation can either be offered publicly or privately. However, the privately offered prices must be inherited from the public ones. All raised proceeds will be owned by the Home DAO treasury.

- 9% Business development: this slice is designated for the compensate partners in exchange for their different services, management, or any other type of collaboration. The underlying allocation has the sale possibility via structured products to strategic partners and that is for a long-term interest. All raised proceeds will be owned by the Home DAO treasury.

- 5.2% Reserve: reserved for Home DAO in case of things getting out of hand or instant needs.

- 2% Liquidity Pool: grant half of the allocation to an AMM pool at the Founder Financing round valuation of ~5 million USD to bootsrap day 1 token liquidity, while the other half redistributed into the same pool for further liquidity. All raised proceeds will be owned by the Home DAO treasury.

Contracts:

Name

Address

DG Token

0x53c8395465a84955c95159814461466053dedede

Home DAO 

0x7b0d44d5b2ef3a8b168fafdcc321fab0d9d5d08c

Council DAO 

0x6eca0c220bb8005155f2903dbed2b43c6fa7c208

Home DAO Buffer Wallet

0xCf08f5cf85B074Bb1094bdC6007C785D885F8893

Home DAO Buffer02 Wallet

 

0xd20f696cA51f7dF2701C5e3D5fc9F418E2603a49

 

DeGate Deploy Wallet

0x32dd5d24de1527b0D195A3490d21179BA327B1F4

 

Control Address 01

0xf5020ADf433645c451A4809eac0d6F680709f11B

 

Control Address 02

0x440Ad9580f9D29E384C4d2a1c36c6928fb4e1392

 

Control Address 03

0xB7093FC2d926ADdE48122B70991fe68374879adf

 

Control Address 04

0xC715b8501039d3514787dC55BC09f89c293351e9

 

Control Address 05

0x407587649Ea87D3a142329fC5Fb1B866ee417C8A

 

Control Address 06

0x3Cd51A933b0803DDCcDF985A7c71C1C7357FE9Eb

 

Founding Team's Vesting Wallet

 

0x3C1752445A6238cbb1107E4EdCeF5F71488f86E3

 

For further knowledge about the DeGate contracts-metadata please visit: https://github.com/MetaMask/contract-metadata

Official Website: https://degate.com/

Social Media:

Twitter: https://twitter.com/DeGateDex

Discord: https://discord.gg/JbuE4xbz

Medium: https://medium.com/degate

Telegram: https://t.me/degate_public

Telegram (CN): https://t.me/degate_chinese

Github: https://github.com/degatedev

CoinGecko: https://www.coingecko.com/en/coins/degate

Block Explorer: https://etherscan.io/token/0x53c8395465a84955c95159814461466053dedede

DeGate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:

EthereumLayer2DEX,rollup-basedsolutions ,two-tieredni system management,Liquidity Bootstrapping Pool,centric-protocols

市值:

目前币值:$0.316USD.

目前市值:$23.43MUSD

发行日期:2021年3月7日

代币名称:DG

代币类型:ERC-20

项目介绍:

据GULU(DeGate 幕后创始人)介绍,构建DeGate的灵感来自于区块链技术所具有的特点和精神。DeGate是以DAO为组织形式的协议社区,凡事以社区为中心,并由社区决定,使得公开性和透明性得到保障。DeGate是基于以太坊Rollup二层网络的去中心化交易协议,交易费用低,交易流动性高。功能模块将包含自动化做市商交易、订单簿交易、杠杆现货交易、跨层桥接、法币兑换通道、初始代币分发平台。 目前重点关注的L2 网络为Optimism、 Arbitrum 和zkSync,但并不排除其他。

团队成员:

核心团队创始人BinLu(A.K.AGulu)自2011年以来从事加密行业,被认为是DeGate的幕后创始人。目前没有太多关于团队信息,DeGate最初由HomeDAO拥有和控制,CouncilDAO受HomeDAO委托,负责日常运行的决策和执行。根据Discord平台发现,

以下成员DeGate的管理员:

LarryJones:Lary_Jones#5777

MissDeGate:MissDeGate#8045

DeGate治理机制:

DeGate协议的治理机制遵循社区治理,由双层DAO机制组成:HomeDAO和CouncilDAO,尽管HomeDAO有权对DeGate的一切做出改变,但是以下初始共识作为社会契约不应被轻易改变,我们称之为共识原点。包含以下几种不同的原则:

  • HomeDAO对于由DeGate协议的自身过失引起的损失对外承担100%的赔付责任
  • 杜绝多数币的暴政。
  • 采用双层DAO的治理机制,使得治理模式兼具稳定性和灵活性。

双层DAO机制:

  • DeGate协议的治理由双层DAO机制组成:HomeDAO和CouncilDAO。
  • HomeDAO是DeGate协议完全拥有者。
  • CouncilDAO受HomeDAO委托,负责日常运行的决策和执行。

HomeDAO:

HomeDAO是DeGate协议的直接拥有者和控制者,并获得协议产生的收入:

  • 收入通常转换为DG代币的形式保存于HomeDAO账户。
  • HomeDAO通过DG代币投票选举产生CouncilDAO的成员。
  • HomeDAO会授权CouncilDAO以一定数额的资金预算,由CouncilDAO代为行使财政权。
  • CouncilDAO的智能合约受制于HomeDAO,即HomeDAO有能力冻结CouncilDAO并提取CouncilDAO的资金,即罢免CouncilDAO,并设立新的CouncilDAO。
  • HomeDAO通过DG代币对议案进行投票来制定决策,CouncilDAO和DG代币持有者均可发起议案,后者发起议案有最低支持的DG代币数量要求。
  • 简而言之重大事务应由HomeDAO直接裁决,有利于DeGate协议保持稳定性和一贯性,并取得外界的信任。

CouncilDAO:

CouncilDAO受HomeDAO委任负责日常运行的决策和执行。

  • CouncilDAO在DeGate职能合约中拥有部分权利。
  • CouncilDAO拥有HomeDAO授予的预算资金,负责DeGate的日常运行。
  • 为了使DeGate协议在激烈的市场竞争中获得快速应变的能力,成立CouncilDAO。
  • CouncilDAO理事会成员由DG代币持有者选举产生,理事会成员以一人一票的民主方式制定CouncilDAO的决策。
  • CouncilDAO既可以直接雇佣员工,也可以将事务承包给外部组织完成。

DeGate激励机制:

  • DG代币分配:
  • DG是DeGate的原生币,总量为10亿,由HomeDAO初始拥有。
  • 19.8%初始融资:HomeDAO以99万美元的价格出售给创始团队,该部分DG代币分4年线性解锁。未解锁部分的DG代币除无权自由转移外,享受完整的代币权益。
  • 44%运营激励池:考虑到流动性挖掘,为DG代币提供分配,预计1/11(44%)的DG代币将用于向币乎和MYKEY持有者开放兑换,团队认为KEY的兑换,是为了构建共识以及扩大DeGate的规模。
  • 20%融资池:为保证DeGate运转所需的资金,该20%代币既可以在公开市场上出售,也可以私下出售,私下出售的价格应以公开市场的价格为基准。融资所得归HomeDAO所有。
  • 9%商务拓展资金池:用于激励生态中的其他从业方与DeGate展开紧密合作,该部分资金既可以以即时兑付的形式支付给合作方,以换取合作方的服务或商品;也可以以远期期权的形式供合作方购买,使得合作方长期与DeGate保持利益一致。商务拓展资金池产生的收益归HomeDAO所有。
  • 5.2%预备池:由HomeDAO按需灵活调配。
  • 2%流动性池:以增强DG本身的流动性。首期做市投入1%(1000万枚)DG,做市的起始估值与出售给创始团队的估值保持一致,即500万美元总估值。剩余1%(1000万枚)的做市DG代币预计将于初始做市开始之后的若干星期内投入做市。该部分代币所得均归HomeDAO所有。

合约:

Name

Address

DG Token

0x53c8395465a84955c95159814461466053dedede

Home DAO 

0x7b0d44d5b2ef3a8b168fafdcc321fab0d9d5d08c

Council DAO 

0x6eca0c220bb8005155f2903dbed2b43c6fa7c208

Home DAO Buffer Wallet

0xCf08f5cf85B074Bb1094bdC6007C785D885F8893

Home DAO Buffer02 Wallet

0xd20f696cA51f7dF2701C5e3D5fc9F418E2603a49

DeGate Deploy Wallet

0x32dd5d24de1527b0D195A3490d21179BA327B1F4

Control Address 01

0xf5020ADf433645c451A4809eac0d6F680709f11B

Control Address 02

0x440Ad9580f9D29E384C4d2a1c36c6928fb4e1392

Control Address 03

0xB7093FC2d926ADdE48122B70991fe68374879adf

Control Address 04

0xC715b8501039d3514787dC55BC09f89c293351e9

Control Address 05

0x407587649Ea87D3a142329fC5Fb1B866ee417C8A

Control Address 06

0x3Cd51A933b0803DDCcDF985A7c71C1C7357FE9Eb

Founding Team's Vesting Wallet

0x3C1752445A6238cbb1107E4EdCeF5F71488f86E3

欲知更多访问:

https://github.com/MetaMask/contract-metadata

官网: https://degate.com/

社交媒体:

Twitter: https://twitter.com/DeGateDex

Discord: https://discord.gg/JbuE4xbz

Medium: https://medium.com/degate

Telegram: https://t.me/degate_public

Telegram (CN): https://t.me/degate_chinese

Github: https://github.com/degatedev

CoinGecko: https://www.coingecko.com/en/coins/degate

Block Explorer: https://etherscan.io/token/0x53c8395465a84955c95159814461466053dedede

欢迎提交你的DAO研究到邮箱:daorayaki@dorafactory.org,瓜分10000USDC赏金池!欢迎访问DAOrayaki官网(daorayaki.org)

详情请参考:

Dora Factory支持去中心化DAO研究组织DAOrayaki

历史文章:

DAOs的设计再思考:信任与决策权、风险、剩余索取权的分配

DAOrayaki首发| SEC.gov代币安全港提案2.0

深度回顾币安智能链BSC Grant HackerLink第一期

Futarchy | 价值投票,对赌信仰,用钱说话,口说无凭

平行世界|DeFi无缝集成全球最性感资产—BTC,特斯拉和茅台

「激进市场」和二次方投票 | 用市场本身去监管市场