Badman Reviews #3 - DAOstack and The Future of Decentralized Organizations
The Badman Reviews series expands upon the projects covered in my Badman ICOs series giving a more in-depth look at the aspects that matter when deciding whether to invest in a project. The third project to be covered is DAOstack.
Brief
DAOstack aims to provide a fully featured platform to aid in the creation, deployment, and maintenance of DAOs (Decentralized Autonomous Organisations). The framework will feature development tools, along with a marketplace, data repository, and apps designed to accommodate smooth interaction with DAOs created on the platform. For a more detailed explanation of DAOstack and how the project works click here to read my DAOstack project overview.
Hype
Daostack is a project that is well known in the current ICO scene has a moderate social following, with about 5.0K twitter followers, 26.0K telegram members and 260 subscribers to r/DAOstack. Although these numbers might seem low compared to some of the other projects out there, DAOstack has not distributed a large airdrop and thus does not have an artificially inflated following with people ready to dump upon release. The website looks great and presents project specifics really well.
The project has been featured in (Forbes,Yahoo Finance and The Merkle) and has high profile partnerships including Gnosis and Sapien among others. DAOstack is also rated highly across all ICO comparison sites, including a medium-high interest from ICODrops, 4.8/5.0 from TrackICO and a 3.9 from ICOBench which would be higher if not for the low social profile.
Competition
The only comparable project in the space is Aragon. Aragon is using the blockchain to develop DAOs, although this is where the comparison ends. DAOstack has a number of fundamental advantages:
Open Source - DAOstack is an open source economic and governance framework, allowing adaptability and upgradability as the community sees fit. This means DAOstack can provide governance to any different kind of organization and ensures relevance as more modules are supported in future.
Superior Technology - Aragon was released with plans to provide a DApp before later deciding to develop a platform to complement it as an afterthought. DAOstack, in comparison, has built their platform from the ground up with multiple layers of functionality and backed by years of research and development, featuring their DApp (Alchemy) as a fundamental aspect of the framework. This approach gives DAOstack the edge and creates a far more useful product comparable to an entire operating system rather than just an application.
Token Functionality - The GEN token has a plethora of interesting use cases and is required for the majority of interactions with the framework. This gives the token great intrinsic value and due to the staking mechanism, the token should grow as the platform grows. This ensures that should the project become a success, the token will follow.
Tokenomics
The GEN token is primarily used to promote proposals for voting within the ecosystem. Holders can stake for or against a proposal; if they are in the majority they are rewarded with more GEN and if not, they lose their staked GEN.
GEN will also be the primary currency for DAOstack ecosystem; used for contributor rewards, as payment in the module marketplace, and as tender for investments in DAO projects built on the platform. Statistics are below:
-Total Supply: 100 million GEN
-Public Sale Hard Cap: $30 million
-Available for Sale: 40 million GEN (40%)
-40% mintable in the future
-10% team/advisers
The hard cap will be allocated 33% ($10 million) for development and 66% gradually released to the Genesis DAO. The Genesis DAO will advance the DAOstack ecosystem and will be used to invest in proposals related to the development of the project.
Team
An overall strong team comprising of experience and ability.
CEO Matan Field is a renowned expert in decentralized governance who has given two TED talks and multiple interviews. CTO Adam Levi also has a Ph.D. in physics and experience gained from two decades of programming and coding. Josh Zemel stands out as well. He has marketing history with Equifax, Toyota and Blue Cross Shield.
The advisory board looks competent, with Yoni Assia - founder and CEO of eToro, Martin Köppelmann - Co-Founder and CEO of Gnosis and Jordan Greenhall - Co-founder and ex-CEO of Divx & Co-founder of MP3.com.
Summary
The DAOstack project seems to have gone under the radar to a certain extent which I personally think is great. This project is a hidden gem and one that I will personally contribute to both upon launch and further throughout development.
It is a project that has the potential to disrupt society in a huge way if DAOs eventually take off and will be leading the field in terms of development until then.
The project has just completed a sold-out public sale and, it wouldn’t be a surprise to see a steady increase in growth and adoption after the platform development is completed.
Links
Thanks for reading, you can follow me here or here to check out my blog: Badman Crypto (Phil Stephenson)
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ETH: 0xea5924b2a0b977604c9dd02fd4723cf92767a083
NEO: AWoF9Jaj4UchBG9iTkL54NjM6UgoX9yTpW
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STOPI really wanted to join. I even accepted terms and conditions and recieved email inviting me to purchase. But i was in vacation and did not check internet regularly, so when i checked it was already sold. Sale went really fast!