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.
What is DAO governance?
Decentralized Autonomous Organizations (DAOs) are on-chain organizations which have continuously increased in number over the past few years. They have been the latest trend on Web3 after the virality of crypto, NFT, and metaverse. DAO governance is the rule and methodology that communities agreed to run the organization. Most of them will run it autonomously to achieve a wide variety of common goals, with their members using their respective voting power in the decision making process. Yet, building a DAO governance requires professional organisational skills and knowledge. There are still a few obstacles on the path to the mass adoption of DAO at the current stage:
1. Expensive Cost of Hiring Solidity Developers
Solidity is a programming language used for building smart contracts on blockchains. Thanks to the popularity of crypto that raises the demand for developers. The average yearly salary is currently at around $150-160K USD per year, according to ZipRecruiter. Such a high compensation would definitely be a hurdle to mass adoption of DAO.
2. Difficult to Plan Tokenomics and Governance System
In the governance systems of many existing DAOs, a certain proportion of quorum or passing rate is required in the voting to make decisions in terms of their operations and tokenomics, such as the number of circulating tokens and distributions. Without specific standards and guidance, these complicated parameters would induce an obstacle for the non-experts to widely adopt and create DAOs themselves even with the help of solidity developers.
ADAM is the DAO version of WordPress
We came up with the idea of ADAM to improve the current ecosystem of DAO, making decentralised cooperation towards a common goal easier and smoother, and eventually achieving DAO 2.0. To address the barriers above, ADAM is here to provide an all-in-one tool for DAO enthusiasts or even non-experts who simply want to build their own communities on Web3. Just like how WordPress has been doing to help websites start and grow, ADAM will provide all-in-one solutions to smooth the experience, from DAO creation to operations.
No-code DAO Modules
ADAM provides multiple modular templates for different types of DAO, e.g. Investment DAOs, society DAOs, club DAOs. The templates are reviewed by governance experts and lawyers, enabling DAO creators to take reference from the best practices in organizational governance, such as voting quorum, passing rate, DAO tokenomics.
Simply put, users could create a DAO in the graphical interface of ADAM platform by directly picking the options shown below, without the need of any coding knowledge or expertise.
Similar to DAO creation, we’ve made the Proposal creation process a no-code modular format. ADAM provides a wide variety of Proposal Templates for DAO members to choose and adjust its details easily. These templates are smart contracts which are built and shown in modules. So members could propose changes for their DAO within minutes.
Among these types of proposals, the Budget Proposal is one of the core features of ADAM, which can make DAO operations way easier. To know more, stay tuned to our next article — Budget Proposal, 10x DAO Efficiency.