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Configurations and parameters

When creating a DAO, you will be required to input parameters outlining the DAO. Read this section carefully to understand the different aspects of a DAO.

Updating parameters

After creation, general parameters can only be updated using a DAO configuration proposal.

General parameters​

All DAOs require the following configuration parameters:

Name​

The name of your DAO. This name will be public and appear on the DAO page.

Logo URL​

The URL of a logo image.

Use this section to input your social media handles and URLs. Social media is a great way for DAOs to build and update a community.

Governance configuration​

In addition to the parameters above, all DAOs require the following governance parameters.

Threshold​

The percentage of yes votes required to pass a proposal.

Number of Yes votesYes +No votes≥Threshold\frac{Number\,of\,Yes\,votes}{Yes\, + No\,votes} \ge Threshold

Quorum​

The minimum number of staked tokens, NFTs, or multisig votes that need to vote for an election to be valid, expressed as a percentage of the total staked token supply. Proposals that don't meet quorum fail, regardless of the vote outcome.

Number of Yes votes+No votes+Abstain votesTotal possible votes≥Quorum\frac{Number\,of\,Yes\,votes + No\,votes + Abstain\,votes}{Total\,possible\,votes} \ge Quorum

Unlocking period​

The period of time it takes for a staked token to become unstaked. Tokens in the unstaking phase cannot be used to cast a vote. Once the unstaking period is over, the owner can claim them.

Vote duration​

The period of time during which a user can vote on a proposal. When a proposal is created, the vote duration starts. Once the vote duration is reached, the votes are tallied and the proposal either passes or fails. No votes can be cast after the voting period.

Specific parameters​

Different DAOs will require specific parameters according to the DAO's type.

Multisig parameters​

In addition to the general parameters, multisig DAOs contain the following specific parameter.

Weight and threshold​

When creating a multisig DAO, each owner's wallet address is input along with a weight. The weight specifies the voting power of a wallet. A wallet with a weight of 20 has twice as much voting power as a wallet with a weight of 10. You can think of weights as the number of votes given to a wallet. Transactions are considered fully signed and will pass when the combined weight of the signers is greater than the threshold percentage of the total weights.

Combined weight of signed membersTotal weight of all members≥Threshold\frac{Combined\,weight\,of\,signed\,members}{Total\,weight\,of\,all\,members} \ge Threshold

Example:

A multisig DAO creates a proposal. The multisig has 5 members and a threshold of 66%:

  • wallet1 weight=30
  • wallet2 weight=10
  • wallet3 weight=15
  • wallet4 weight=25
  • wallet5 weight=20

In this example, the total_weight is 100. To pass, the wallets that vote to sign would need a combined weight greater than 66.

If wallets 1-4 vote by signing the proposed transaction, their combined weight would be 80, and the proposal would pass.

80100≥66%\frac{80}{100} \ge 66\%

NFT DAO parameters​

In addition to the general parameters, NFT DAOs contain the following specific parameters.

NFT Name​

The name of the NFT you want to create.

NFT Symbol​

A Symbol for your NFT. This is usually 4 letters or fewer.

NFT Minter​

The address for the NFT minter contract. Enterprise does not supply an NFT minting contract. This contract must be provided by the user.

Using an existing NFT collection

You can make a DAO around an existing NFT collection by inputting the NFT address of the existing collection. Anyone in possession of the NFTs in that collection can be a member of the DAO.

Token DAO parameters​

In addition to the general parameters, Token DAOs contain the following specific parameters.

Token Name​

The name of your new token.

Token Symbol​

A symbol for your new token. Usually a maximum of four characters.

Decimals​

The number of decimal places your token should be generated with. This defines the smallest possible unit of the token. For instance, a single decimal place will mean the smallest unit of your token will be .1.

Initial token distribution​

To mint the new DAOs token, you must specify an address to send the token to, and an amount of the token to mint and send. You can add multiple addresses and amounts. Once a DAO has been created, the original genesis distribution of the token cannot be changed.

Using an existing Token

You can make a DAO around an existing token by inputting the existing token address. Anyone in possession of the existing token can be a member of the DAO.

Description​

A description of the token.

Logo URL​

A URL for the token's logo image.

Marketing Owner Address​

The wallet address of the marketing owner. This wallet can change a DAO token's marketing information, such as the description or logo.

Project​

The name of your project.

Updating configurations​

The General Parameters of a DAO can be updated by creating and passing a DAO configuration proposal.