Ink Finance Guide v2

Create a New DAO

A step by step guide to creating a new DAO
How to create a DAO with INK by Quick Starter mode
Only an identity verified user can create a new DAO. This action can be launched from the DAO List View for a Manager Role.
Basic info - DAO name, governance token
Make sure your DAO has a unique name, and an existing governance token (whose native blockchain becomes your DAO’s main blockchain). If your DAO doesn’t have its own token, you can use QUILL tokens as your governance token, and make Avalanche your DAO’s main blockchain.
Organization - staking, sub-DAO, and Badge
Only stakers of your meta DAO's tokens are allowed to participate in governance (proposing, managing, and voting). The meta DAO (or main DAO) creator must create a new staking pool, while a sub DAO creator can either choose the existing staking pool, or create a new one.
If you want to create a new staking pool, make sure you top up enough emission tokens in your connected wallet, as the Web App will extract them. If you are creating a sub DAO, you can negotiate with the meta DAO to have your own staking incentives. However, it is neither required nor typical. To have your sub DAO's own identity and integrity, you only need to create your own Badge and use your meta DAO's staking facility - don't forget your sub DAO is still under the meta token's banner, and you can always ask for incentives as grants to your Treasury!
Badge not only identifies your sub community members, it also effectively protects the community from "whales" who hold large amount of the meta DAO's tokens. Badges are typically earned or granted as rewards in your sub DAO, therefore, someone who merely holds large stake of the meta token cannot participate in the voting in your sub DAO. Once your Manager's identity is confirmed, you can always click Create New DAO, which is always available in a Manager's view.
The Voting Power
The DAO creator needs to specify the minimum total votes and the minimum voting wallets in public voting. These parameters are default values and can be overwritten when your DAO's Proposing Managers make actual Proposals. Votes are counted on the basis of a voter's staked positions of the governance token, when there is no badge requirement. If badge is required, the DAO can specify how to balance the voting power between the staking position and the badge numbers. Currently, Ink Finance only treats badge as an entrance to the voting process, and only counts effective votes based on staked governance tokens.

Step by Step Guide of Create a New DAO

If you already read the DAO creation guide, you can move onto the next step by clicking OK
Once your Identity is verified you can click the button Next Step
Fill in DAO Configuration Details
  1. 1.
    Your DAO's name
  2. 2.
    Staking pool address
  3. 3.
    DAO governance token address
Quick Starter or Full Configuration
Ink Finance provides a Quick Starter mode for users to set up their DAO by just one simple click. Creators also can choose the Full Configuration mode to set up various governance requirements for DAOs:
  • Minimum managers pledges (number of staked and pledged tokens) required for a Manager
  • Minimum effective wallets from the public voters
  • Minimum effective votes from the public voters
  • Choose a voting power for DAO's governance process and proposals
DAO creators can create or import badges when setting up DAOs
Badges are optional for DAO creators to set up an exclusive access for its members on certain proposals. Once a DAO has been created, the full amount of badges will be sent to creators wallet for distribution.
If a user choose Quick Starter mode, the minimum requirement numbers for will set up at 1 with 'Public & Board' voting power, no badges required.
After your DAO is successfully created, you can view the DAO smart contracts.
When you go back to the DAO List View, you can see the newly created DAO among all the ones managed by you.