Use Cases for DAOs
Token-weighted voting is the primary mechanism for member's of a community, where voting power is decided by the user's token holdings.
This however poses multiple drawabacks, with inequalities and security risks being the leading factors.
Metopia offers a new and democratized way of governance called reputation-based voting. Voting power is now customizable and dynamic.
With this new mechanism, the direction of a DAO will no longer be in the hands of large token-holders. It will also incentivize users to be more active in DAO governance.
- Create incentives through customizable voting power
- Through holding period, holding history and traits
- Able to govern with a multi-token governance structure. Users will be able to move away from a pure token-based system and create incentives based on other holdings, such as MetoBadges, SoulBound Tokens, POAPs and other credentials.
- Role-based governance through Discord Roles.
In order to address the issues of equity in the Web 3 space, Metopia recognizes certain communities are unable to utilize some of their most valued members.
This may come in the form insufficient disposable income and lack of technical knowledge in Web 3.
In order to encapsulate the entire Web 3 community we've created the MetoBadge, a non-transferable SoulBound Token, that can only be earned, not purchased.
Through the customized metadata issued by the DAO, they can:
- Act as a membership standard for token-gated communities and events.
- Reward users for activities. Some scenarios include writing articles, participating in events, rewarding loyal users.
- Create a more representative community. Through the multi-token governance strategy, DAOs can customize governance weight through non-purchasable credentials, creating a more diverse representation of the community.
- Issue SBTs to reflect IRL achievements and credentials.
These days, Web 3 communities commonly have multiple tokens, usually in the format of financial assets: ERC-20, ERC-721, ERC-1155.
For DAOs, what is the best choice? Use soulbound tokens to record members contribution, members contribute to earn SBTs as their voting power.
Soulbound token and its utility:
- Membership rights;
- Voting power;
- Credentials & rewards;
- Fee sharing, etc.
The existing governance infrastructure with its one-token-one-vote model does not offer the customizability to balance assets holders and contributors.
Based on non-transferable badge protocol, Metopia offers communities a platform for them to conduct governance, with voting strategies customizable around:
- Multi-token voting with ERC-20 plus ERC-721;
- Vote weight bonus for ownership and holding time history;
- Vote weight bonus for POAP, SBT credentials;
- Voting with contribution proof (eg. SBTs, discord roles) directly.