Soda DAO Capabilities
Step by Step DAO Creation with Soda
First the DAO must choose a digital asset or NFT series to use for minting. Then the NFT asset or NFT series to be used is chosen and the DAO specifies how many governance tokens it wishes to mint. The DAO must then decide the governance tokens, the voting rights assigned to the tokens, and who will receive the tokens; basically deciding who can vote for future DAO decisions.
A DAO can decide for voting to be open to all of its Web2 social media followers, meaning they do not require the governance NFTs to participate in decision making.
- Sonet will allow all Web2 users to vote prior to the DAO’s token launch. After the launch, members that want to vote will have to hold a $Sonet token to allow them to make governance decisions. We will integrate the $Sonet token to allow for DAO voting on Polygon, at the DAO’s discretion
A DAO can also make voting exclusive by limiting voting to only those wallets that hold the recently minted governance NFT.
- DAOs can use an existing NFT collection, mint a new collection, or mint copies of a single NFT which will be sent to its members. Only individuals who hold these tokens will be considered DAO members
- For example, if a DAO project partners with us and decides to mint a fresh series of 100 tokens, the DAO then decides which wallets these tokens will be sent to and how many tokens each wallet will receive. The DAO can decide it will have 100 members all with equal voting rights, or fewer members with some members having a greater share
Now token holders are DAO members with voting rights. $Sonet tokens will have an equivalent ratio to all DAO tokens and can facilitate as a middle token across all DAOs launched on our platform. So DAO members do not need to buy so many different DAO tokens.
Additionally, by integrating Web2 media platforms like Facebook and Twitter, Soda allows its DAO partners to include their social media groups as DAO members should the DAO desires. This allows for easier token minting and distribution, ensuring all of your followers are members.
Diagram of Soda’s DAO Capabilities