TL;DR: ADAM is an all-in-one platform which smoothes the entire DAO journey. With the audited smart contract modules provided by ADAM, simple and codeless DAO creation and treasury actions are allowed.
How is a DAO governed?
On-chain organisations known as Decentralised Autonomous Organisations (DAOs) have steadily grown in number over the last few years. After the prevalence of crypto, NFT, and metaverse, they have been the most recent trend on Web 3. In order to operate this sort of organisation, communities agree on a set of rules and procedures called DAO governance. The majority of them will operate this DAO independently to accomplish their shared objectives, with each member exercising their own voting rights. However, creating a DAO governance takes expert organisational knowledge and skills.
At this time, there are still a few barriers standing in the way of DAO’s widespread implementation.
1. Expensive Solidity Developer Hiring Rate
A programming language called Solidity is used to create smart contracts for blockchains and because of the popularity of cryptocurrencies, there is now an ever-growing need for developers. According to ZipRecruiter, the typical annual pay is currently between $150 and 160K USD. Mass adoption of DAO would undoubtedly be hampered by such a hefty compensation for these developers.
2. Difficult to Plan Tokenomics and Governance System
In many existing DAO governance systems, a particular percentage of quorum or passing rate is required in the voting in order to make decisions on their operations and tokenomics, such as the amount of circulating tokens and distributions. Without clear instructions and guidelines, these complex factors make it increasingly difficult for non-experts to broadly embrace and build DAOs on their own, even with the assistance of expert developers.
ADAM is the DAO version of WordPress
To solve this, ADAM aims to be the DAO equivalent of WordPress. We developed it with the intention of enhancing the DAO environment, facilitating decentralised cooperation toward a common objective, and ultimately attaining DAO 2.0.
ADAM will offer all-in-one solutions to streamline the DAO formation experience, all the way from creation to execution, in much the same way that WordPress does for website development.
No-code Modules DAO
ADAM offers a variety of modular templates for various DAO kinds, including investment DAOs, society DAOs, and club DAOs. The templates are examined by governance specialists and attorneys, allowing DAO designers to refer to best practices in organisational governance, including voting quorum, passing rate, and DAO tokenomics.
Simply put, users do not need any technical skills or experience to construct a DAO in the ADAM platform’s, with its user friendly and easy to read graphical interface as seen below:
We’ve created a no-code modular framework for creating proposals, which is similar to how DAOs are created. The DAO members can choose from a large selection of proposal templates that ADAM offers and easily modify its details. These are smart contract templates that are created and shown as modules. Members might also swiftly suggest changes for their DAO.
One of the key components of ADAM that can significantly simplify DAO operations is the Budget Proposal, which is one of these kinds of proposals. Keep reading our upcoming article – Budget Proposal, 10x DAO Efficiency – to learn more.