The problem DAO Joint Ventures solves

How do two DAOs create a joint venture while retaining autonomy over their treasuries and internal processes? Creating joint venture structures between two DAOs is common, yet high friction. Our platform makes this process simpler and faster, by giving two DAOs a structure in which to collaborate. When two DAOs choose to create a joint venture, they currently have to do this from scratch.

This goal of this project is to use Ethereum smart contracts to orchestrate and automate joint venture deals between DAOs. The high level design goal with this first iteration is to support joint ventures with minimal overhead and maximum aligned incentives while allowing each participating DAO autonomy over their respective treasury and self-direction. To meet these goals, a joint venture token is issued that is fully collateralized by each DAO's pledge offered in their native token.

The newly issued token and minted supply is then distributed according to agreed upon terms. Notably, as part of the joint venture contract execution process, 2 liquidity pools are created by each DAO pairing their own token with the newly issued joint venture token.

Features and Benefits:

1. Joint venture partners retain full autonomy with respect to their treasury and internal processes, while maximally aligning incentives.
2. Newly issued token is fully collateralized with underlying participating partner tokens and fully redeemable.
   Bootstraps liquidity on DEXs.
3. Mintable/redeemable token can be a source of income for the DAO by assessing fees (issuance, redemption). Arbitrage volume emerging when the joint venture token trades below or above NAV may further increase DAO income.
4. Strengthens token economies through shared endeavors and aligned incentives
5. Advances and supports cross-DAO collaborative efforts

Challenges we ran into

Our first idea was to create an anonymous polling platform. We soon found this would be immensely difficult. This project would require zk-proofs in order to be fully anonymous, which we realized late into the night, and was beyond the scope for us this weekend. We pivoted to our current idea.

Because we pivoted, we had a late start - when we finally started writing code we had less than 24hrs to complete the task.

We found issues using tailwind.css, so moved to using ant-design. Coordinating with several people and distributing bite-size tasks to work on in parallel was also a challenge.

Deriving the value of tokens relative to one another requires an oracle, so figuring out the correct proportions of splits was challenging and compromises were made by making certain assumptions. Additionaly, Given more time, valuations would be calculated at time of contract execution to avoid poor price execution.

tickSpacing math at 4:30am!

Making the contract dynamic to support joint venture structures with any number of DAOs was challenging but we got it working!

Project Status

✅ All main contract functions are tested and all tests are passing with correct behavior
✅ Any number of DAOs can structure a joint venture deal. There is no limit to the number of participating DAOs
✅ DAOs may deposit (and withdraw) their tokens to collateralize the joint venture token
✅ When deposit target amounts have been reached, Uniswap pools are created, Arrakis vaults are created, liquidity is deposited to those pools (one pool per DAO Token/JV Token combo), LP tokens and JV tokens are transferred to each DAO treasury
✅ JV tokens (joint venture tokens) are minted using Set Protocol and are backed by deposited DAO tokens
✅ Liquidity splits are dynamic
⚠️ UI is not completely functional
⚠️ Oracles not yet implemented for valuation logic