Update/Vote: A $SOFT Token

[Stupoorcycle]

Soft DAO Governance Token

The SOFT DAO is currently governed by a Gnosis Safe multisig. We think it would be in the DAO’s best interest to adopt the use of a token which will provide better tooling for governance.

The Token

Name: SoftDAO

Symbol: SOFT

Total supply: 1B

Features

• ERC20
• ERC20Votes
• ERC20Permit

The token is deployed and verified here: Soft: SOFT Token | Address 0xfe3b138879d6d0555be4132dcfe6e7424e257a2e | Etherscan

Note that all tokens have already been transferred to the DAO here: Ethereum Transaction Hash (Txhash) Details | Etherscan

Governance

The SOFT DAO can elect to adopt this token by voting with its Safe, or reject it by sending all tokens to the zero address.

Future Work

In order to use a token like this for governance, the DAO should consider these steps:

• Adopt an on-chain governor like: Introducing OpenZeppelin Governor - OpenZeppelin blog
• Distribute the token more broadly
• Reduce governance risks from a freely transferrable token, e.g. with
  • soulbound voting rights
  • lockup periods during which token holders may vote but not transfer their tokens

[KomaRick]

[yoza]

[Krendelyok]

Nice proposal, ser! Keep it up, I’m impatiently waiting to start my work here

[DRAMA]

@Stupoorcycle

Governance

Governance is one of the most important part of DAO for a participant. Glad to be a part of a history!

[DMITRY]

Great! Let’s just do it!

[NikolayS]

[memeka]

@Stupoorcycle Hi will the token be audited?

[Stupoorcycle]

The token itself is just a basic ERC20 token contract and won’t require an audit.

Any additional smart contract work (sale or deployment) surrounding the SoftDAO token will be audited wherever deemed appropriate/necessary, Yes.

[memeka]

@Stupoorcycle Will there be an ama session?

[Conqueror]

Absolutely we need this. Lets do!

[Eshwar]

Looking forward to it

[scott]

cool.
will the criteria for airdop (if any) also be discussed?

[getter34]

[Vision24]

I completely concur with the governance token model but it would have been good if it can be bridge to other low gas fees sidechains like Arbitrum, Optimism for easy transaction.

Meanwhile the governance voting power should come with a locking period and if possible a Rev shares for token holders.

Also let it have a burning mechanism to reduce supply in other to increase token value.

[Denizzz]

It’s a good news! It’s cool - the project run smoothly;)

[ApeinShape]

birth certificate (:

[Stupoorcycle]

We’re planning a few, absolutely

[Stupoorcycle]

Also just published, will be submitting Proposal for adoption next week: Genesis Governance. Fix DAO governance by prioritizing… | by Chris Walker | Oct, 2022 | Tokensoft

[memeka]

Great, I didn’t even think it was planned