How to set up a DAO

A DAO on Ink Finance platform can be a main (meta) DAO, or a sub DAO. The latter can have a Badge to identify its members. The main and DAOs have independent management structures and voting powers.

1. Open Ink Finance website（https://inkfinance.xyz) and Click「Open Beta 」

2. Connect to the MetaMask wallet. If you haven't one please install one from MetaMask website.

3. Click「Add token」to add all test tokens to your wallet.

4. Click 「TestNet 」to select a blockchain Network. Ink Finance supports Avalanche, Polygon, BSC, and Ethereum testnets (the following guide will use Avalanch testnet as an example).

5. Claim the Avalanch test token as the Gas Fee.

5.1 Click the button 「Alavanche TestNet」in the upper right corner and enter your wallet address to request AVAX test token https://faucet.avax.network

6. Select your Role. If you want to create a DAO or manage a DAO, then select「DAO Manager 」; if you just want to view a DAO or vote in it, then select 「DAO Member」. Here we select "DAO Manager" to continue setup.

6.1 A DAO creator or manager needs to verify ID with social media account (the minimum requirement). Currently, INK only supports verified Twitter account. Please enter the info to complete authentication.

7. Once verified, your social media account will show up in the upright corner. Click「Create New DAO」to start.

8. Configure your DAO's basics

8.1 If you have any questions, you can find the answers in the "User Guide" of Ink Finance. Click「OK」to continue.

8.2 Click 「Next Step」

8.3 Input all required DAO information: 「DAO Governance token」 you can select QUILL or “Other Token” as your governance token (if you are a new project, you need to mint your own token first). 「DAO Name」: enter your DAO name. 「DAO logo」: upload your logo file; if not specified, the system will display the default logo.

8.4 There are two modes in DAO configuration. Quick Starter: If you select this mode, Governance Rules will be set as system defaults. Then you can just click「Create DAO」to complete. Full Configuration: Set up the Governance Rules base on your governance requirements.

Click here to learn more about Voting Mode Tip: All Governance Rules can be modified later via the propose-and-vote process.

8.5 Set「Voters must hold Badge」 You can ask the system to create a new Badge or import one you already have. Ex: INKR is the badge of Inker DAO.

It is important to note that once checked, the voter must have the badge to participate in public voting. If not checked, any voter who stake the DAO token can participate in public voting.

Have to say, this is an innovative feature of Ink Finance.

8.6 Click 「Create DAO」，and confirm it in MetaMask to execute on the blockchain.

8.7 Your DAO will show up via「View DAO List」, once it is successfully created and deployed on blockchain.

9. Add the Badge to your wallet. Click your DAO and click the Badge icon, then click「Add token」 on the Metamask system.

10. Click「DAO Activities」-> 「Governance Rules」, then you can see all the governance information about DAO.

Congratulations! You have successfully created a DAO!