InvesDAO
Join investors motivated for the same cause, fund the most ambitious ideas & watch them generate wealth for you!
The problem InvesDAO solves

Decentralizing Real-World Startups

The Problem

DAOs or blockchain based decentralization has been limited to only crypto based projects. DAOs are supposed to be the executors and without complete government support DAOs will never be able to go off of blockchain.

Our Solution

InvesDAO allows its members to create decentralized fund raise campaigns for different themes. Innovators then propose their ideas that can make the world a better place and their investors rich! Once a fundraise campaign has chosen the most-promising proposal, InvesDAO turns the org into a legal venture. A legally recognised entity, real-world startup, with a 3-member board, with one decentralized board member, innovator and InvesDAO.

What makes InvesDAO Unique?

  • With DAO, the creator (& team) and InvesDAO owning 49%, 49% and 2% of the legal identity's equity, Board of the legal identity becomes highly decentralized.
  • At least 2 of the 3 parties will have to collude in order to cheat the one left and with our game theory based approach, none have the incentive to cheat:
    • InvesDAO's intrinsic value increases as more and more startups get successful. Being unfair ruins its reputation and is bad for business.
    • Board would want proposal that increases shareholder value, hence, in everyone's favour.
    • The innovator doesn't get direct access to the funds and needs the board's agreement for that, they can't possibly cheat.

How does InvesDAO help DAOs Scale?

  • This fund raise campaign is in itself a DAO which is not dependent on its parent, InvesDAO. This facilitates forming independent DAOs with their own tradable ERC20 tokens.
  • InvesDAO gives a legal backing to the investors making the project highly secure and trustable. More trust => more contributors => IMPACT AT SCALE

InvesDAO provides a place for every type of investor and will break ground for innovation through introduction of even more functional DAOs with real-world interaction

Challenges we ran into

Making DAO smart contract that are independent yet coordinating with a parent

Our approach to it: We built our smart contracts from scratch taking motivation from multiple prominent smart contracts from teams like Aragon, 1Hive Gardens. While this is an ever-involving problem, our contract is too! We'll continue refining our contract to fulfill our goals.

Figuring our the tokenomics and incentivizing participation

Our approach: We brainstormed and laid out the participants' roles to incentivize every participant to fulfil their duties to the best of their abilities. InvesDAO gains intrinsic value by forming more startups which have value in the real-world.

Making modular smart contracts

One of our smart contract exceeded the 24576 bytes code limit and couldn't be hosted however it's functionality was shown and tested through hosting it's children smart contracts through remix. We were able to build a Proof-Of-Concept but not a production level application. Contracts will be broken down into smaller.

Adding In IPFS Right on the website

Proposals are not very informative and hence a detailed version is allowed to be seen from a resource on ipfs or through a social media thread dedicated for the proposal. While social media thread just had to be hyperlinked, for ipfs we had to access Textile.io's bucket APIs to store and access data. Here, we haven't encrypted the data so anyone can view the uploaded proposals as shown in the picture. Our ipfs link is: /ipfs/bafybeihhefbgyspnjbk2koxt36lwgoclwr2effuvmbbvuxtxpizwaedhd4.

Making our final frontend submission as good as our design

While we couldn't make the finished product look stunningly beatiful, we did build a skeletal frontend. But, fret not, we've uploaded images that show our delightful to look at intended design! Brownie points? xD Our design is inspired by 1Hive Gardens.

Updates
  • Created ProjectDecember 13, 2021 10:49 AM2 months ago

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