Proposal for a New DAO on Scroll

Executive Summary

This proposal outlines the creation of a new DAO focused on enhancing the scalability, efficiency, and user experience within the Layer 2 ecosystem. Our mission is to leverage Scroll solutions to foster innovation, support emerging projects, and create a more inclusive and decentralized financial system.

Background

The blockchain ecosystem is evolving, with Scroll solutions playing a critical role in scaling networks by handling transactions off the main chain, thus reducing fees and improving transaction speeds. However, the potential of Layer 2 solutions is far from fully realized. Our DAO aims to bridge this gap by supporting projects and initiatives that push the boundaries of what Layer 2 can achieve.

Objectives

  1. Foster Innovation: Support the development of innovative projects on Layer 2 solutions that can significantly reduce costs and increase transaction speeds without compromising security.
  2. Community Governance: Create a truly decentralized platform where decisions are made by the community through a fair and transparent voting process.
  3. Sustainability: Implement a sustainable funding model that ensures long-term growth and stability of the DAO and its supported projects.
  4. Education and Adoption: Promote the adoption of Layer 2 solutions through educational programs, workshops, and partnerships with existing projects and communities.

Structure

  • Governance Token: Introduce a governance token that enables token holders to vote on key decisions, including project funding, strategic direction, and governance policies.
  • Funding Mechanism: Establish a treasury funded by a portion of transaction fees, donations, and possibly initial token offerings that will be used to fund approved projects and operational expenses.
  • Project Submission and Approval Process: Develop a transparent and efficient process for submitting, reviewing, and approving projects for funding. This will include community discussion forums, proposal vetting by a technical committee, and final approval through community voting.
  • Rewards and Incentives: Implement a reward system that incentivizes participation, contribution, and good governance within the DAO.

Technology and Implementation

  • Smart Contracts on Layer 2: Deploy smart contracts on the selected Layer 2 solution to handle all aspects of the voting process, including proposal submissions, vote casting, and tallying.
  • Result Commitment: After each voting period concludes, the final results will be committed to the Ethereum mainnet. This step ensures the immutability and transparency of the voting outcomes.
  • Bridging Mechanisms: Use established bridging mechanisms to securely and efficiently transfer the voting results from Scroll to Ethereum. This includes verifying the integrity of the results before final posting.

Technical Workflow

  1. Proposal Submission: Proposals are submitted through a Layer 2 smart contract interface (deploy on Scroll), accessible to all DAO members.
  2. Voting Period: DAO members cast their votes on Scroll network within a predefined period, utilizing the low-cost and high-speed environment.
  3. Result Tallying: At the end of the voting period, the smart contract automatically tallies the votes.
  4. Commitment to Ethereum: The final results are then prepared for commitment to the Ethereum mainnet, ensuring they are recorded on a secure and immutable ledger.
  5. Verification and Finalization: A verification process checks the integrity of the committed results on Ethereum, finalizing the voting outcome.

Benefits

  • Cost and Speed: This approach significantly reduces the cost of governance actions and speeds up the voting process, enabling more frequent and dynamic community engagement.
  • Scalability: It allows the DAO to scale its operations without being limited by the mainnet’s transaction throughput and fees.
  • Security and Transparency: While leveraging the efficiency of Scroll we maintain the security and transparency benefits of Ethereum, ensuring trust and integrity in the DAO’s governance process.
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Awesome !!! :heart: :rocket: :rocket: :rocket: :rocket:

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Cool !!! This project is truly impressive with its innovative approach!

:fire: :fire: :fire:

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Good work guys ! lets build :heart_eyes:

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Good idea! how could i join?

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If we receive a grant from the Scroll team.

We are taking over. LFG

Great innitiative, @imterryyy what’s the best way to start contributing to this?

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