- Motivation:
I believe dYdX DAO is very serious about the its Governance Process and involving community in making key decisions as evidently by the amount of work has go into this document (dYdX Governance Process)
I’m a co-founder of Syncvote. I believe our tool can add tangible value to the implementation of dYdX DAO’s governance process without any changes to the current setup. The goal is to let admins and members focus on making decisions instead of getting lost in tech stuff.
- Problem Now:
I see 3 existing problems in implementing dYdX DAO governance process:
-
The proposer must remember all the technical details of the governance process to avoid making mistakes.
-
The proposer has to bounce around different platforms, such as dYdX, for each step of the process.
-
Any solution that could potentially consolidate everything into one platform for consistency and ease of navigation would require the DAO to abandon its current setup and adopt a new one.
-
How We Solve It:
Syncvote is a chrome extension that can provide a unified front-end for any DAO member that wants to make a proposal to dYdX DAO. It acts like a central hub, no more bouncing between different platforms. Members can kick off and handle proposals, watch progress, and move through stages – all in one interface.
Why Syncvote will fit nicely into the current dYdX DAO practice:
-
Non-invasive, there isn’t any new platform to familiarize with, just open the extension and click “start new proposal” to start.
-
The extension works with all the platforms DAO has been using, so you don’t need to make any changes to your current setup.
-
It’s free, our goal is to eventually put every DAO to operate completely on-chain, so until dYdX DAO decides to write data on-chain; it won’t cost you anything.
My co-founder’s created this video to illustrate how the plugin works for a DAO: Syncvote Demo
- Next Steps to Implement:
To implement this transformative solution for dYdX DAO, we propose the following steps:
- After the proposal has been passed, I will convert the dYdX DAO Governance Process into a format compatible with Syncvote. An administrator/coreteam member can help me to follow-up and also check its accuracy.
- After that, dYdX DAO will start announcing to community members on forum, announcement channels on discord and twitter dYdX that they can start using Syncvote extension to make new proposals from then on.
In conclusion, I see this as a straightforward implementation that helps to smooth governance experience for dYdX DAO community members. I would be grateful if dYdX DAO adopts Syncvote.
Thank you for reading my post. I would like to have your feedback on this topic.
Godwin.
Nice to see this being proposed on multiple chains. I also saw your post on the Osmosis forum.
Which made me wonder though, is this only requesting approval to connect dYdX DAO governance with Syncvote? No funding or grants involved?
What is the model for earnings for Syncvote? What are the prospects in terms of further development?
Can you share a bit more information on that?
1 Like
Hello, nice seeing you here,
Which made me wonder though, is this only requesting approval to connect dYdX DAO governance with Syncvote? No funding or grants involved?
Yes, " It’s free, our goal is to eventually put every DAO to operate completely on-chain" (quoted from my proposal)
What is the model for earnings for Syncvote? What are the prospects in terms of further development? Can you share a bit more information on that?
Yes sure.
We think that DAO eventually will need to operate 100% on chain. Having said that, we propose promoting a strategy of 100% on-chain data storage, encouraging storage within the Solana network. Our team is researching and developing mechanisms to generate rewards from this initiative.
If DAO does not like to store data on Solana, we’re also checking out how other chains do things to spice up our approach.
I hope my answer comes right at your concerns. It it’s not, please let me know.
Why on Solana? That is really strange, since we are in a completely different ecosystem which can do storage on chain in the ecosystem as well.
I get the feeling there is an enormous catch to the proposal request…
Thank for feedback. I understand why you feel that way.
Solana is our target now, since we know a mechanism to generate fee without costing fee for DAO. Syncvote will definitely learn more about how to get fee in other chains.
In case DAO does not like to store data on Solana, it is just fine, we still could do it. Syncvote does not own DAO’s data.
Having said that, there is no barriers for DAO to store data their way.
Back to the main purpose of this proposal, is that I think that DAO may need an interface to help community member to follow the designed process easily. From creating proposals, or update information and move proposals to next phase etc.,.
Now, about offering our governance tool for free, that’s all part of our game plan to bring value to the community and build trust. Plus, we’ve got some VC backing us up, so we’ve got the financial stability to invest in projects and tools without worrying too much about quick cash returns.
We’re all about creating value and giving back without expecting an immediate payoff. This kind of approach can help us build strong relationships with your community, and who knows, it might just open doors to cool opportunities and partnerships down the road.
I hope my answers have explained my thought clearly. Is that any concerns to you mate? If yes, please let me know.
Thank you in advanced.
The weird thing about the proposal with puts me off is the introduction of Solana.
You put a thread online on multiple forums in the Cosmos ecosystem, which is a direct competitor (or at least a completely different form) of Solana. The text certainly does not give the feeling that you’ve learned what the projects are about to to tailor the text to the specific project.
And I find it hard to believe there is not a single method of earnings included. Also VCs would like to get an ROI, so money has to come in from somewhere in the end, right?
Thank mate. Solana or Cosmos or any other chains out there is not the scope that the proposal is aiming to. The proposal is talking about a DAO tool.
If DAO needs many tools or platforms to do governance, or do administration tasks, then Syncvote could help by making it into 1 place and automate that process (config by DAO).
Hello mates,
I would love to have some of your comments on the topic. The proposal aims to make the governance process be something easy for every community member to take part in.
Do you think the governance process now is easy enough for everyone to cast a vote or raise a voice?
Hello mates,
I would love to make a product demo to show how Syncvote could really fit into DAO governance.
Can admin or any community members instruct?
I want to emphasize that Syncvote is designed to bring tangible value to DAO operations. I see there’s no feedback and suggestion for a while, so just come again to ask about your thought on Syncvote.
After the last post, Syncvote has improved some UI features to smooth community member’s experience on DAO’s governance. I think that a demo would be a good way to show how Syncvote could fit for Dydx DAO’s operation
Could you suggest any idea on that? I would love to discuss more for DydxDAO,