TL;DR
STP aims to optimize the current state of Decentralized Autonomous Organizations (DAOs). It offers solutions to streamline existing fragmented DAO tooling, create DAOs without coding knowledge, and manage DAOs more efficiently. Ultimately, a holistic DAO ecosystem would lower fees and increase transaction speed to promote adoption.
Introduction
Decentralized autonomous organizations (DAOs) are community-led, transparent, and fully independent entities that run on the blockchain. DAOs are typically built on layer-1 networks, and due to scalability limitations they inherit from these blockchains, activity on DAOs can often be slow and expensive.
In addition, although there is an abundance of DAO tooling in the market, the crypto space remains fragmented across multiple chains and tools. As DAOs continue to gain traction, it’s important to ensure a smooth and efficient onboarding process for projects and users.
In 2021, STP launched Verse Network, a full suite of native tools and infrastructures facilitating efficient decentralized decision-making for users, communities and organizations to streamline the creation and management of DAOs. Through Verse Network, users can access a suite of no-code DAO tools to launch and manage their DAOs on the blockchain.
How does STP work?
STP offers solutions for DAO creation, management, as well as governance using their all-in-one DAO tool, Clique.
Clique helps alleviate the fragmentation of DAO tooling by providing a comprehensive dashboard for users to manage all their activity across multiple DAOs. It also helps to sync information & updates from multiple DAOs. As the number of DAOs continues to grow, members can streamline their workflow using Clique, maximizing their efficiency with a better user experience.
Here are some other ways Clique can be used:
DAO creation
Clique provides a full suite of no-code tools and infrastructure for projects to build DAOs in the Verse ecosystem. All aspects of DAO creation can be executed directly on Clique, including:
Selection of a template for DAO creation, including Membership DAO, Project DAO, and Investment DAO
Issuance of new tokens and bridging existing tokens for cross-chain capabilities
Implementation of custom token distribution schedule with reserved token allocation
Customization and execution for whitelist and public sale
Issuance of DAO token for governance
Clique offers templates that work for DAOs across different use cases and industries while still providing users with options for additional customization. Using Clique, projects can maintain high flexibility in creating their on-chain DAO without the need to create smart contracts. Projects are able to have a say in token creation, token distribution, and public sale, as well as configure the governance structure of the DAO. This includes rules for minimum holdings for a variety of governance and DAO mananagent activities such as proposal creation and voting.
DAO management and governance
Once a DAO is created and launched on Clique, the decentralized app (DApp) also allows community members to browse, govern, and socially participate in their projects through an aggregated dashboard. Appointed managers can also oversee and track their DAO’s governance and social activity. Managers can analyze activity metrics in comparison to other DAOs. In turn, DAO members are able to view DAO contributions and track activity in the DAOs they chose to join.
Below are DAO management features on Clique accessible to DAO managers and members:
Accessing an aggregated dashboard to manage all followed DAOs, created DAOs and asset holdings for the user.
Browsing all featured or followed proposals and social posts.
Browsing ongoing events across the universe of DAOs on the Verse, including pinned and attended events.
Viewing DAO participation, including voting on proposals, social interaction through discussion forums, public profile tracking, etc.
For managers, overseeing and tracking DAO governance and social activities across all members, and analyzing their activities compared to other DAOs.
Monitoring active participation among members
Apart from token holdings, Clique also allows members to observe how active other members are by tracking various key participation metrics. This includes voting frequency, number of proposals made, social posting, analytical work, token management, and so on. With Clique, DAO members can track all of these activities, as well as future DAO proposals and events in the streamlined dashboard.
Cross-chain governance with Data Bridge
The Verse Network’s Data Bridge enables cross-chain governance for DAOs. The Data Bridge serves as a cross-chain synchronizer to communicate data and voting results between the DAO’s original chain (Ethereum) and Polygon, where Clique is located.
On the Polygon chain, the governance contract allows users to create and vote on proposals. The voting power of a user is determined by the snapshot of their token holdings at the time a proposal is created.
Validator nodes store historical data and snapshots from Ethereum as a certificate in order to deliver user signatures on Polygon. The certificate includes the corresponding token holdings of each user. Users can create and vote on proposals using their signature, with each unique signature being validated by the contract.
What is STPT?
The native token of STP is called STPT. Token holders can use STPT to vote for governance proposals related to its ecosystem and future development. STPT is also used to access the full suite of tools on Verse including Clique and Data Bridge.
Closing thoughts
STP is working towards an inclusive DAO ecosystem that can be used by anyone. The suite of tools available on Verse Network allows for easy DAO creation and management as it aims to unify the DAO space and encourage adoption.