The Architecture of SubDAO and The Problems it Solves
We’ve continued to see fresh approaches to blockchain technology since DeFi exploded in 2020. The fervor with which people rushed into the cryptosphere at the start of DeFi could be ascribed to how it is changing the industry. As of October 9th, 2021, the total value of DeFi contracts is more than $204.5 billion. By multiplying the number of tokens in the protocol by their USD value, the total value locked is computed. DeFi’s total figure may appear large, but it is still in the early stages of development.
Similarly, Decentralized Autonomous Organization (DAO) development plays a significant role in shaping the blockchain industry. The DAO’s development history is legendary, with massive sums of money being involved from the start. The DAO was once viewed as a groundbreaking idea, and it garnered ETH worth millions of dollars at its onset, making it one of the most successful crowdfunding campaigns of its time. Although DAO experienced some setbacks at an early stage, it had no bearing on people’s decision to continue exploring the new field.
DAO is quickly becoming one of the most critical components of any project. Creating a DAO isn’t new to blockchain professionals, just as sending a man to the Moon isn’t new to readers of science fiction novels or the general public. However, the ability for anyone to quickly travel between space makes a significant difference! The entire goal of the SubDAO project is to develop and provide a low-cost, dependable, and quick way for anyone to construct DAOs and DApps on various chains. Users and projects can even construct their DAOs with SubDAO and connect them to their DApps without any technical experience.
About SubDAO
SubDAO is a Polkadot-based cross-chain platform created by SubDAO Labs to connect DAOs and DApps. It is powered by Substrate and Polkadot in Web3.0. It’s the infrastructure for maintaining DAO and connecting DApp with DAO.
To deliver specific services, the SubDAO runs as a parachain. Developers will be relieved of the work of maintaining DAOs and creating DApps that are linked to DAOs thanks to the numerous DAO templates and SubDAO Airfone.
SubDAO has made it easy that even without any technical knowledge, the initial governors of a DAO can easily build a cross-chain DAO with just a few clicks. Developers that want to establish DApps can give communities governance by using SubDAO to create a DAO that is connected to the DApp using SubDAO Airfone.
Furthermore, the O!-chain Worker (OCW) provides access to the o!-chain world, allowing SubDAO to access external data rather than just On-chain data, such as stable coin prices, Github contributions, and so on.
SubDAO Network is a DAO administration platform that attempts to give a set of tools to make the formation of DAOs as simple as possible. SubDAO is a Polkadot-based DAO infrastructure that allows any decentralized organization to easily form and operate a DAO. SubDAO not only connects DAO to DApps for cross-chain management, but it also connects Web 2.0 and Web 3.0.
The main concept of SubDAO and the difficulties it addresses
The SubDAO team strongly believes that the DAO is the optimal governance mechanism. Normally, It’s not straightforward to create and manage a DAO, especially one that works across multiple chains. However, the team believes it worked to create the environment for access and develop DAO without serious stress, thanks to Substrate 2.0 and Polkadot.
MakerDAO and The LAO are a few of the several mature Decentralized Autonomous Organizations (DAOs) that are managed in various ways using various tools or platforms. Other tools, such as Aragon, are available to assist governors in the creation of a DAO. Aragon is a project that provides tools for creating and governing decentralized autonomous organizations (DAOs), although it is only available on Ethereum.
SubDAO is a unique project that grew out of previous DAO-related efforts. It is a tool that makes the DAO service more accessible and a Substrate and Polkadot-powered cross-chain DAO creation and maintenance platform for DApps. Despite the existence of several DAO service platforms, it is still a long way from widespread DAO adoption coupled with different challenges, such as high technical barriers, an unsatisfactory user experience, simple and basic DAO functions that are unable to meet a variety of user cases, and the fact that most solutions are focused on Ethereum, to name a few.
SubDAO was formed to address issues that had previously been overlooked by other teams. SubDAO, in my opinion, has the following distinguishing characteristics:
● A platform enabling cross-chain transactions;
● Off-chain data access;
● To establish a customizable functionality for governing a DAO, you don’t need any technical knowledge;
● The user interface is simple to use. SubDAO will continue to add DAO templates in the future, allowing all types of companies to choose an appropriate DAO template for their purpose.
Very importantly, SubDAO’s code is open source, and the smart contract does not store any sensitive personal information.
Since it is based on Substrate, it decentralizes data storage and processing using a distributed computing architecture, and user data is not shared or exposed to other parties. A SubDAO wallet or a Polkadot wallet can be used to manage your private key. The private key must be used to authorize asset management for DAO. Also, subDAO is looking to construct and administer the smart contract library in collaboration with some of the leading smart contract security auditing businesses.
SubDAO Architecture
SubDAO Labs can achieve its goal using cutting-edge technologies such as Substrate 2.0 and the Polkadot. The SubDAO project comprises SubDAO node, Template Library, SubDAO Guard, Asset Vault, SubDAO Airfone, and Front End. Front End is a web interface that allows anyone to engage with the SubDAO network. The Front End will allow users to do things like create a new DAO, define a new DAO template, withdraw personal funds, vote in DAOs, and so on.
● SubDAO Node is a customized chain node for the SubDAO network in Substrate 2.0. It is the foundation of the SubDAO network, containing the same fundamental functionality as a standard chain node but also allowing the OCW (Off-chain Worker) from the Substrate 2.0 Framework to acquire external data required for DAO administration.
● Template Library: The first DAO of the SubDAO network is SubDAO Guard. It comes with basic management features. SubDAO Guard allows any member of the SubDAO network to participate in the governance of the SubDAO network.
● Assets Vault: SubDAO Airfone is an SDK that allows developers to connect their DApps to DAOs that they have developed or that others have created. It will be available initially as a Javascript library, with support for other languages coming later. Developers can utilize the SubDAO Airfone to interface directly with the SubDAO network or to connect their DApps to DAO.
● Front-End: This feature provides a web interface through which anyone can connect with the SubDAO network. All users have to do is browse the webpage created by the SubDAO Labs team or click the buttons in the instructions. Front End will allow users to do things like create a new DAO, define a new DAO template, withdraw personal funds, voting in DAOs, and so forth. NodeJS will be used to create the front end.
Conclusion
A Decentralized Autonomous Organization’s (DAO) purpose is to eliminate human involvement. A model with DAO-like aims can benefit any company. DAOs are the most efficient and equitable business model yet devised. They address the flaws of conventional centralized enterprises and blockchain projects, the former being vulnerable to central points of weakness, middlemen, and conflicting stakeholder interests. A genuine DAO will provide a service without regard for salaries, middlemen, or even profits. As a result of these appealing aspects, an increasing number of projects are entering this industry and contributing to its development.
However, using DAO in any industry comes with a certain risk. The transparency of the code base of smart contracts, how to deal with unethical behavior or code misuse, and an entanglement of the challenges led by the high entanglement of infrastructure and application governance in the blockchain are all challenges for the governance of all blockchain applications.
Though the problems persist for the time being, SubDAO is working to find lasting solutions by pooling all of the industry’s knowledge. There is no doubt that DAOs have a better future ahead of them as they pave the way for new forms of online coordination and decision-making.
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