Castle DAO
The DAO for Fractional Ownership Castles (or Income Generating Assets). Bought in through a bonding curve, managed by owners through a DAO. Reputation and voting weight determined by token balances.
Created on 16th February 2020
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Castle DAO
The DAO for Fractional Ownership Castles (or Income Generating Assets). Bought in through a bonding curve, managed by owners through a DAO. Reputation and voting weight determined by token balances.
The problem Castle DAO solves
Allows for low barrier entry to income generating assets, to give passive income. Creates a sulf-sustaining economy on top of and in service of the DAO. Management and overall ownership is managed in a decentralized way by utilizing a DAO. It also utilizes a novel voting concept as reputation and voting weight is determined by each owner's token balance.
Allows participation and fund pooling, gives the ability for even small holders to earn passive income. Reduces risk for individuals by giving them the ability to exit at any time through the bonding curve (penalized Ragequit). Creates a governance mechanism for all token holders to provide input into any proposals and expenditures: Repairs, property Management services, Renovations, Additional Dividend Distribution, Potential for DeFi applications for DAO controlled Funds, Rent increases or decreases, Purchasing additional assets.
Challenges we ran into
Adapting a mainnet app and developing it on the testnet was a challenge.
- We reached out to the DAOstack team and talked with them about working on their staging environment.
Repurposing old code and taking into account new compiler specs.
- We fixed bugs that arose from outdated logic.
Replacing DAOstack's default reputation scheme with a weighted voting system based on the token economy that used bonded curves.
- We had to add additional logic to our smart contract to mirror two separate tokens - one for reputation (REP), and one for ownership (HBT).
Spinning up multiple DAOs as bugs and contract issues became apparent - DAO contract immutability is tricky in development processes.
- Agreeing to shut down previous DAOs and agreeing on a minimal viable product.
We never emerged from the hatch phase until we agreed to a properly tested DAO.
Technologies used