For the third in the series on ICOs, I’d like to cover an extremely promising project that has been gaining a lot of attention over the past few months and has just successfully completed their public sale - DAOstack.

I will be running another series alongside this one, with in-depth reviews of each project. Look out for Badman Reviews!

Check out Badman ICOs #1 - XYO Network Overview
Check out Badman ICOs #2 - Acorn Collective Overview

So what’s it all about?

DAOs (decentralized autonomous organizations) are an idea that formulated in the community near the beginning of crypto and in reality, are almost as old as Bitcoin itself. The main concept involves the theory that, if Bitcoin can remove the necessity of financial middlemen, then companies or organizations could operate without a management hierarchy by utilizing smart contracts and blockchain. DAOs will function similarly to the way a traditional company functions, although rules and regulations will be digitally hardcoded from the get-go and financial data will be permanently entrenched on the blockchain.

Although in theory DAOs have the potential to streamline and innovate almost every industry, they are currently impractical and infeasible in the long term and lack certain components that are critical to success. To counter this, Daostack has created a comprehensive toolkit to fundamentally transform the creation and deployment of DAOs.

To create an organization with the ability to continuously grow whilst also maintaining its coherence of structure requires the creation of a dependable decentralized management system. This is what DAOstack hopes to achieve.

The token sale

The DAOstack platform uses it’s token (GEN) as a currency within the platform and any developer creating a DAO will stake GEN and purchase governance modules with the token. The official token sale began on April 24th and as of May 8th has successfully concluded.

The Project has a total supply of 100 million GEN of which 40 million will be sold in the ICO. The token was priced using a flat pricing structure of 711 GEN equalling 1 ETH which means approximately 40 Million USD was raised during the sale.
GEN is currently an ERC20 token.

How does it work

DAO management will work on a voting system with each parties vote weighted due to the number of tokens in their possession and being staked. This process facilitates a decentralized governance system for the decision-making process of the organization, allowing multiple parties to be involved.

The DAOstack project will operate in the same way. DAOs created through Daostack will require all parties that are contributing to an organization to suggest proposals to initiate the decision-making process and vote for or against these proposals.

DAOstack will feature an ecosystem built from multiple DAOs, each with the ability to interact and communicate with each other. This facilitates collaboration through interoperability and assures that every DAO will be able to maximize its functionality.

The DAOstack toolset (Arc) will feature an open source library of modules and DAO templates which developers can access and use to aid in the creation of their DAO. Arc will be highly scalable and its library will constantly evolve due to its open-source nature, ensuring it remains diverse and relevant as more modules are added.

The platform will include multiple layers of apps and features to allow interaction with the platform:

Alchemy - A DApp to provide an interface for users to access Arc and interact with their DAOs.

Compendium - An archive of all the approved DAOstack governance modules and provide a method of monetization where creators can sell their modules to other developers

Mosaic - A database and search engine of all previously created DAOs, maintained by the DAOstack community. Mosaic will be used as a promotional platform for organizations to pay and promote their name.

Hive - A market to post requests and offers in exchange for tokens. this will promote collaboration where developers can sell their services, resources or expertise that others may need.

The team

The team looks promising with members either having knowledge directly relating to blockchain or experience in software and business development. The CEO Matan Field is a renowned decentralized governance expert and CTO Adam Levi is adept in the technical side of blockchain technology and has over 20 years worth of experience in coding. Both also hold a Ph.D. in Physics and the advisory team features the former CEO of DivX.

The roadmap states releases between Q3 2018 and Q4 2019 for different aspects of the framework. So although the ICO is over, the project will be one to watch over the next two years as it hits its long-term goals and the platform is launched.

For more info about the project, check out the links below to visit the website and check out the whitepaper and if you have any questions you can ask the team directly on their telegram channel. Alternatively, check out the ANN and Bounty threads on Bitcointalk forums.

Links

Website
Telegram
ANN
Bounty