Please describe your proposed solution.

Our proposed solution is an open-source, on-chain DAO governance framework tailored for the Cardano ecosystem. We aim to address the limitations of existing governance systems by providing a comprehensive and technically robust solution.

Our approach is rooted in the principles of openness and transparency. We have carefully analyzed current governance models and drawn inspiration to design a solution that is accessible to all types of communities for various types of projects, regardless of their technical background. To achieve this, we aim to develop a user-friendly interface for proposal submission and voting, ensuring a seamless and intuitive experience for users (a similar was done for WingRiders).

The core of our solution revolves around leveraging the transparency and security of the Cardano blockchain. Proposals are stored on-chain as part of transaction metadata, ensuring immutability and eliminating the possibility of manipulation. To optimize data storage and minimize on-chain bloat, we utilize the InterPlanetary File System (IPFS) to store detailed proposal versions securely, similar to how NFTs are represented on Cardano.

Voting power is determined by counting all of the voting tokens tied to the user’s wallet. They don’t need to be locked and may be kept in configurable sources such as wallets, farms, boosts, liquidity pools, and vesting. Each of these sources can be configured to weigh differently when determining the voting power, so tokens held in wallets can be weighted more than those in vesting contracts for example.

A robust backend infrastructure aggregates blockchain data and provides REST endpoints for accessing vital information such as proposals and votes. It seamlessly connects to other services like aggregators and explorers to fetch additional data required for validation and verification processes.

The frontend component of our solution is designed to be customizable and white-labeled, allowing projects to integrate this governance framework seamlessly into their existing platforms. This approach ensures a consistent and user-friendly experience while maintaining the individual branding and look& feel of each project.

This solution aims to establish Cardano as a leading chain for running the governance of DAO protocols utilizing decentralized and transparent governance, fostering trust and collaboration among community members of each protocol as well as between protocols themselves. This solution empowers projects by offering a reliable and auditable governance system, enhancing their reputation, and attracting more community participation & co-creation from both established and emerging projects.

How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

1. Advanced Features: This solution offers advanced features compared to existing governance systems on Cardano. It ensures transparency, trust, and audibility through its full on-chain nature, decentralized collection and counting of votes, including audibility of the vote count by anyone, and of course, utilizes the security and immutability of the Cardano blockchain.
2. Collaboration Management: This solution provides an effective collaboration management platform for a project to organize its community intentions and actions. It enables proposal submission, discussion, and voting processes, empowering community members to actively participate in the decision-making of any project that implements the solution.
3. Distinct Advantage: Our project introduces new and innovative tools to give Cardano a distinct advantage in the market. By providing an open-source, robust, and customizable governance framework, we enable current and future projects to leverage decentralized decision-making and strengthen their level of decentralization and the overall Cardano ecosystem's value proposition.

The impact of our solution extends beyond funding the creation team. It brings tangible benefits to the Cardano ecosystem, including:

1. Increased Community Engagement: This solution will attract and engage more communities, projects, and individuals to actively collaborate using Cardano DAO governance tools. This will enhance community participation, foster decentralized governance, and strengthen the Cardano community as a whole.
2. Enhanced Ecosystem Strength: By offering a reliable and auditable open-source governance solution, we contribute to the overall strength and maturity of the Cardano ecosystem. The availability of a comprehensive governance solution will attract new projects and drive innovation not only in the governance area but as well be a foundation for further development of automated decentralized management of dApps.
3. Problem-Solving: Our solution addresses the key problem of decentralized trustless governance in the Cardano ecosystem. It eliminates the need for projects to independently develop their own governance systems, saving time, effort, and resources. This streamlines the process and prevents faulty developments, leading to increased efficiency, higher trust, and better utilization of resources for projects.

How do you intend to measure the success of your project?

We will measure the success of our project based on the following key metrics outlined in the challenge:

1. Number of Communities Engaged: We will track the number of communities that actively collaborate using our Cardano DAO creation tools. This metric demonstrates the adoption and utilization of our solution for community governance. The higher the number of engaged communities, the greater the impact of our project.
2. ADA Transaction Fees: We will monitor the amount of ADA generated from DAO transaction fees after implementing our solution. Our goal is to exceed the allocated fund amount provided by the challenge. This metric reflects the economic value and sustainability of DAOs using our governance framework.
3. Number of DAO Toolsets/Frameworks: We aim to contribute to the growth of DAO operations by providing a comprehensive toolset/framework for managing and governing DAOs. Our goal is to have more than one toolset/framework available, offering a variety of options for organizations to choose from.

Additionally, we will measure the impact of our project in terms of time and resource savings for developers. By providing a ready-to-use, audited, and customizable DAO governance framework, we aim to reduce the development workload for protocols and projects. The number of development hours saved by utilizing our solution will be a tangible indicator of the efficiency and cost-effectiveness we bring to the ecosystem.

By tracking these metrics and demonstrating the positive impact on community engagement, economic value, adoption, and efficiency gains, we aim to showcase the value and significance of this solution to the Cardano ecosystem.

Please describe your plans to share the outputs and results of your project?

Firstly, we will document this solution's outputs, including the open-source code, technical specifications, and best practices. These resources will be made available on public repositories and developer platforms, ensuring easy access for the Cardano community and other interested parties.

To spread the project's outputs over a reasonable timescale, we will adopt a multi-pronged approach:

1. Documentation and Guides: We will create detailed documentation and user guides that provide step-by-step instructions on how to implement and integrate our governance framework. These resources will be shared on our project website, developer forums, and relevant community channels.
2. Partnerships and Collaborations: We will seek partnerships with key stakeholders in the Cardano ecosystem, including projects, development teams, and blockchain organizations. By collaborating with these entities, we can promote the adoption of our governance framework and leverage their networks to reach a wider audience.
3. Research and Development: The results generated from this solution will serve as valuable insights for further research and development activities. We will analyze the feedback and usage data from the implementation of our governance solution, identify areas for improvement, and contribute to the ongoing evolution of decentralized governance solutions on Cardano.

What is your capability to deliver your project with high levels of trust and accountability?

As Wingrinders, a leading team in the Cardano ecosystem, we bring a wealth of capabilities and expertise that make us best suited to deliver this solution with high levels of trust and accountability. Our proven track record, community connection, and existing DAO governance implementation of our DEX demonstrate our capabilities.

1. Technical Expertise: With our extensive experience in developing and operating one of the most important DEXes on Cardano, we possess deep technical expertise in blockchain and smart contract development. We understand the intricacies of the Cardano ecosystem, including its governance mechanisms, and can leverage this knowledge to create a robust and secure open-source DAO governance solution.
2. Proven Track Record: Our successful track record in building and maintaining a leading DEX demonstrates our ability to deliver high-quality projects. We have demonstrated our commitment to excellence, user satisfaction, and community engagement through our previous work. This track record instills trust and confidence in our ability to deliver on this proposal.
3. Community Connection: Through our existing DEX platform, we have built strong connections and relationships within the Cardano community. We have a deep understanding of the community's needs, challenges, and aspirations. By leveraging our community connection, we can actively engage stakeholders, gather feedback, and ensure that our open-source DAO governance solution meets the specific requirements of the Cardano ecosystem.
4. Governance Expertise: Our experience in implementing and operating our own DAO governance system positions us as experts in this field. We have firsthand knowledge of the challenges, opportunities, and best practices in decentralized governance. By open-sourcing our solution, we aim to share our expertise with the broader Cardano community, empowering projects and fostering a culture of transparent and community-driven decision-making.

In terms of fund management, we have established processes and protocols in place to ensure proper financial management and accountability. Our financial management practices include maintaining transparent records, conducting regular internal audits, and having full capability to adhere to financial reporting standards. We recognize the importance of managing funds properly and will take all necessary steps to ensure responsible and trustworthy fund management throughout the project.

What are the main goals for the project and how will you validate if your approach is feasible?

The main goals of our project are to enhance and improve the existing DAO governance solution that we have successfully implemented within our Wingrinders community. We aim to open-source our solution and make it available to the broader Cardano ecosystem, thereby promoting transparent and community-driven decision-making processes.

To validate the feasibility of our approach, we can leverage our existing implementation as a proof of concept. The fact that we are already running and utilizing our DAO governance system within our community demonstrates the viability and effectiveness of our solution. We have witnessed firsthand the benefits of decentralized governance and the positive impact it has on community engagement and decision-making.

In terms of implementation, we plan to refine and enhance our existing DAO governance framework by addressing any limitations, improving user experience, and ensuring seamless integration with other protocols and projects. By open-sourcing our solution, we will invite feedback and collaboration from the wider Cardano community to further validate and refine our approach.

Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1: Refine and Enhance DAO Governance Framework

• Tasks: Evaluate existing governance framework, identify limitations, gather community feedback, and define improvement areas
• Timeline: 2 month
• Success Criteria: Updated and improved governance framework, incorporating feedback from the community
• Projected Cost: ₳90,000

Milestone 2: Open-Source Solution and Documentation

• Tasks: Prepare the solution for open-sourcing, ensure proper documentation and instructions for implementation, establish a dedicated repository
• Timeline: 2 month
• Success Criteria: Open-source solution available on a dedicated repository with comprehensive documentation
• Projected Cost: ₳190,000

Milestone 3: Community Engagement and Collaboration

• Tasks: Engage with the Cardano community, promote the open-source solution, gather feedback, and foster collaboration with other projects and protocols
• Timeline: Throughout the project timeline
• Success Criteria: Increased community engagement, active collaboration with at least 3 other projects or protocols
• Projected Cost: ₳55,000

Milestone 4: Pilot Implementation and Testing

• Tasks: Conduct a pilot implementation of the open-source solution, gather user feedback, and perform comprehensive testing
• Timeline: 2 months
• Success Criteria: Successful pilot implementation, positive user feedback, identification and resolution of any issues
• Projected Cost: ₳155,000

Milestone 5: Finalization and Project Delivery

• Tasks: Address any remaining issues, finalize the solution, prepare for widespread adoption, and deliver the completed project
• Timeline: 1 month
• Success Criteria: Finalized solution ready for widespread adoption, project delivered on time and within budget
• Projected Cost: ₳76,000

Project Management Approach:

• The project will be managed using an agile methodology, ensuring flexibility, adaptability, and iterative development.
• Milestones and tasks will be tracked using project management tools and communication channels with stakeholders, with regular progress reporting to monitor the project's status.
• Risks and challenges will be identified and managed proactively, with contingency plans in place to mitigate any potential issues.

Please describe the deliverables, outputs and intended outcomes of each milestone.

Our proposed solution for the "Open-Source On-Chain DAO Governance" aims to provide superior tools and platforms for DAO infrastructure on the Cardano blockchain. By offering a comprehensive suite of features and functionalities, we will empower DAOs on Cardano with effective collaboration management, distinct advantages, and robust governance capabilities. This will enable Cardano to be at the forefront of the emerging trend of DAOs, ensuring that the ecosystem is well-prepared for the future. The success of our solution will be measured by the number of engaged communities using Cardano DAO creation tools, the amount of ADA generated from DAO transaction fees, the adoption of Cardano as the governance/management chain by DAOs, and the availability of multiple DAO toolsets/frameworks for DAO operations. This will ultimately contribute to the growth and expansion of Cardano's vibrant DAO ecosystem.

Please provide a detailed budget breakdown of the proposed work and resources.

The proposal budget will be used to cover the cost of engineering and community engagement/collaboration.

Project duration is estimated at 8 months, considering that not all FTEs will be working full-time.

Resources:

Solution Architect 15

FE Dev Senior 65

FE Dev Junior 20

BE Dev Senior 65

BE Dev Junior 20

Community Mgt 15

PM 15

Total Budget: ₳566,900

Who is in the project team and what are their roles?

WingRiders engineering team, powered by Vacuumlabs, is composed from experienced professionals in blockchain technology and software development. Our teams stand behind projects like Adalite, Yoroi wallet, firmware for hardware wallets Trezor and Ledger (bringing them to Cardano), blockchain explorer for Emurgo and a whole plethora of FinTech products.

How does the cost of the project represent value for money for the Cardano ecosystem?

Firstly, by investing in the development of superior tools and platforms for DAO governance, the project will provide Cardano with a competitive edge over other blockchain networks. This will attract more users, communities, and organizations to adopt Cardano for their DAO needs, leading to increased network usage and transaction fees. Secondly, the project's cost includes the expertise and resources required to build robust and reliable DAO infrastructure, ensuring the security and integrity of governance processes. Lastly, the long-term benefits of having a thriving DAO ecosystem on Cardano, with effective collaboration management and advanced governance capabilities, outweigh the initial investment and contribute to the sustainable growth and success of the Cardano ecosystem.