Proposal: Establish a DAO on the xDai network

My understanding is that the process for minting SEED goes something like:

  1. SourceCred evaluates the contributions made and generates a recommendation for what should be minted.
  2. That recommendation is voted on by a DAO.
  3. Once approved, Players are able to claim it.

Having a DAO to control the mint seems like a necessary component.

I am interested is allowing Patrons to onboard via xDai. Part of that is having a token on the xDai network.

There is the bridged version of SEED, xSEED, where SEED is locked on the mainnet and proportional xSEED is minted on xDai. This token has extrinsic value from the mainnet that is not captured when creating a liquidity pool on Honeyswap. xSEED has no more value in that context than any other random ERC-20.

If the value is going to be starting from zero, it makes more sense to mint a new token. A DAO is needed to control the mint, thus this proposal.

There are several options for DAO system. DAOhaus has a nice looking interface. I’ve enjoyed Aragon in the past. Colony is also currently launching on xDai.

I don’t have a definite opinion on which DAO to use or even certainty that one is necessary, but want to propose investigating it if that means having a token that is cheap enough to practically use.

There’s already a sanctioned Moloch instance running on xDai.

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Also, we are a part of the upcoming Colony beta test.

Anything new happening with xDai side of things?