Summary
EIP-4824 defines daoURI, a standard JSON schema for publishing DAO metadata on-chain. If this proposal passes, Treasure will adopt EIP-4824 by deploying a new smart contract on the Ethereum/Arbitrum mainnet to store its daoURI.
Today, there are over 20,000 DAOs, deployed using different governance frameworks, many with token holders and treasuries on multiple chains. This number is set to increase by orders of magnitude in the next few years. Additionally, with new layer-2s and cross-chain products, the number of DAO-controlled parameters is increasing day by day. EIP-4824 establishes a robust framework to process this data.
EIP-4824 provides two main value adds:
- It allows you to access any info about the DAO from an on-chain location, in a global format (irrespective of governance structure or chain): This point is about ensuring interoperability with the larger web3 ecosystem. At present, it takes a lot of manual coordination to add or change data in any of the leading aggregators. As a result, new DAOs, DAO frameworks, and novel DAO data fail to be indexed. daoURI solves this issue by providing a standard interface to publish and consume DAO data. Outside of the standard specification, Treasure may also publish a treasureTagURI, a URI returning trusted service providers or major delegates, etc. to enrich its on-chain information availability. DAOstar will provide the development resources necessary to build a daoURI for treasure.
- It provides a base layer for building other public infrastructure: we are presently building an opt-in Regulatory Interface and Tax Standard for DAOs with the support of the Arbitrum Foundation; a Grants Management standard with Gitcoin and an Attestation standard with EAS, Optimism, and others. EIP-4824 functions as an effective base layer for these public infrastructures and more.
The standard has gained significant momentum in the last year in terms of adoption:
EIP-4824 was adopted by Snapshot X. Going forward, 100s and possibly 1000s of DAOs created using Snapshot X will be automatically EIP-4824 compliant. ShapeShift DAO, Unlock Protocol, and LXDAO recently adopted EIP-4824. DAO frameworks including Aragon V3, DAODAO (Cosmos), Moloch v2 / DAOHaus, Moloch v3 / DAOHaus, Gnosis Safe, DAOstack, KALI, Q.org, Power Protocol, and XDAO have either already adopted or have committed to adopting EIP-4824 in the short term.
We are supported by the Arbitrum Foundation, Optimism Collective, Ethereum Foundation, Gnosis, Aragon, Radicle, MolochDAO, MetaCartel Ventures, The Graph, and many other members of DAOstar One.
Proposal
To enrich the on-chain information availability on Treasure and to make it easier for existing and future tools to seamlessly interact with the DAO, we propose adopting EIP-4824.
Specification
The standard JSON-LD schema defined by EIP-4824:
"@context": "http://www.daostar.org/schemas",
"type": "DAO",
"name": "<name of the DAO>",
"description": "<description>",
"membersURI": "<URI>",
"proposalsURI": "<URI>",
"activityLogURI": "<URI>",
"governanceURI": "<URI>",
"contractsRegistryURI": "<URI>"
}
We invite community feedback on each subURI for a potential daoURI for Treasure. General suggestions:
- membersURI can return all Snapshot voters;
- governanceURI can link to Treasure’s governance doc;
With the help of the Arbitrum Foundation grant, DAOstar can help customize any of the subURIs or add any additional data that the Treasure community may be interested in including in its daoURI.
The DAOstar register page provides a simple interface to generate a daoURI. daoURIs hence generated are automatically stored to IPFS.
Execution
All we are trying to do is store the daoURI onchain. Though there are multiple ways to do this (through ENS text records, EAS, etc.), the current easiest way is to deploy an EIP4824 registration contract to store the daoURI. This proposal assumes the usage of this method.
If passed, Treasure will execute the following call to the EIP-4824 Registration Factory (0x2Dac5DBbF1D024c1E0D9c92D3AeDa7618e15aDd7 on Ethereum Mainnet (the Registration Factory is being deployed to Arbitrum), to complete the registration, setting Treasure DAO as admin:
Call EIP4824RegistrationSummoner.summonRegistration(salt, daoURI, manager, contracts, data)
New clones are deployed to predictable addresses using the message sender and a bytes32 value combined as a salt.
In summary, this is an extremely low-risk proposal that’ll take us one step closer to true interoperability within the DAO ecosystem. This proposal does not involve any transfer of funds or changes to Treasure’s smart contracts. Other than gas fees required to execute the transaction, this proposal does not require additional expenditure of resources from Treasure. DAOstar stands to provide all assistance necessary to smoothen the adoption of EIP-4824.
This initiative is made possible through an Arbitrum Foundation grant that has funded DAOstar to assist DAOs on Arbitrum in adopting this standard. We have begun engaging with DAOs on Arbitrum, and the first DAO to approve this proposal is Lodestar Finance, which recently voted in favor of EIP-4824. We look forward to receiving valuable feedback from the Treasure community on this initiative.
As additional references, please refer to:
- EIP-4824 adoption by ShapeShift DAO using SafeSnap.
- EIP-4824 adoption by Unlock DAO using Tally/Governor.
Proposal TO-DOs:
- Finalize a daoURI for Treasure. If the DAO does not want to add any additional data at the moment, we can go with the standard specification.
- If the proposal passes, deploy a registration contract to store Treasure’s daoURI.
Voting Period
Voting commences now, ending Friday, March 8, 2024 at 17:40 UTC (unix timestamp: 1709919600 - copy and paste here to see local time).
Voting Eligibility
- The following holders of MAGIC can vote:
- (A) Stakers in the Harvesters or the TreasureDAO Governance Staking contract, and holders of MAGIC-ETH SLP on Arbitrum One.
- (B) Holders of all listed Magicswap LP tokens and stakers in Beefy’s mooSushiMAGIC-ETH vault or Balancer’s 50% MAGIC / 50% USDC weighted pool.
- gMAGIC will be calculated on a 1:1 basis in (A) and 0.5 ratio in (B) (50% of MAGIC amount)
