DAB DAO

What Is DAB DAO

DAB DAO is Decentralized Autonomous Bank DAO. It is to redistribute and allocate the authorities and votes to the holders of all deposit tokens(DPT).

Why DAB DAO

Goal

Democratic vote to execute the privilege functions.

Needs to achieve

1. Need to be able to update the contracts: mainly formulas.
2. Need more than 80% of the support rate to be able to modify DAB’s ownership(Move to another DABDao).
3. Need more than 80% of the support rate to be able to modify formulas.
4. Need more than 50% support rate to be able to accept DAB’s ownership(to be autonomous).

How To Achieve DAB DAO

Implementation

A proposal contract that implements the Proposal Abstract Class, which can run a privilege function on DABDao after gaining a support rate that exceeds the threshold, and then upgrades the original contract.

In the process of voting, the voting DPT will be converted into a temporary Vote Token(VOT), and this token is controlled by the Proposal Contract, the voters can redeem their DPT from proposal contract by destroy their VOT after the proposal ended, either succeeds or fails.

If a proposal contract want to execute the DABDao privilege function, then the proposal needs to have a certain proportion of DPT. Such a mechanism can avoid the a DPT vote twice.

Steps

1. The first step is to implement an proposal contract for a specific goal, set the duration and the target DABDao function and the new proposed replacement contract.
2. And then propose the contract to the DABDao Contract, the process needs to transfer a certain amount of DPT(proposal price) from the proposal contract to the DepositAgent to avoid misuse of propose function in the DABDao Contract.
3. After the proposal contract proposed, voters can vote the proposal by vote function of the DABDao Contract, each DPT is a vote.
4. If the amount of votes in this proposal reaches the threshold that can execute the target privilege function in DABDao before vote stage ends, then the function on the DABDao can be executed. Otherwise, it fails. either the proposal fails or succeeds, it will enter the redeem stage.

Test DAB DAO

Tests are included and can be run on using truffle and testrpc.

brew install npm
npm install -g truffle
npm install -g ethereumjs-testrpc

Prerequisites

node v8.1.3+
npm v5.3.0+
truffle v3.4.5+
testrpc v4.0.1+

Testrpc

Test in the development period.

To run the test, execute the following commands from the project’s root folder.

npm start
npm test

Dev

Test in real private network

To migrate the contracts to the network, execute the following commands from the project’s truffle folder.

geth --dev --rpc  --rpcport 8545 --rpcaddr 127.0.0.1 --rpcapi="eth,net,web3" --unlock 2e1609032a6e71eac236c6487c4dc3e0aaee3c9f --mine --minerthreads=1
truffle migrate --network dev