darkfi/doc/src/testnet/dao.md

DAO

On the testnet, we are also able to create an anonymous DAO. Using the drk CLI tool, we have a dao subcommand that can perform the necessary operations.

You can find a script in contrib/localnet/darkfid-single-node/run-dao-test.sh which automatically does all the commands in this tutorial. Just be sure to read the comment at the top of the file first.

Let's create a DAO with the following parameters:

• Proposer limit: 20
• Quorum: 10
• Approval ratio: 0.67
• Governance token: MLDY

You can see what these parameters mean with the help command.

$ ./drk help dao create

Let's create our DAO.

$ ./drk dao create 20 10 0.67 MLDY > dao.dat
$ ./drk dao view < dao.dat

The view command will show us the parameters. If everything looks fine, we can now import it into our wallet:

./drk dao import MiladyMakerDAO < dao.dat
./drk dao list
./drk dao list MiladyMakerDAO

Minting

If parameters are shown, this means the DAO was successfully imported into our wallet. The DAO's index in our wallet is 1, so we'll use that to reference it. Now we can create a transaction that will mint the DAO on-chain, and broadcast it:

./drk dao mint MiladyMakerDAO > dao_mint_tx
./drk broadcast < dao_mint_tx

Now the transaction is broadcasted to the network. Wait for it to finalize, and if your drk is subscribed, after finalization you should see a leaf_position and a transaction ID when running dao list MiladyMakerDAO.

Sending money to the treasury

Let's send some tokens to the DAO's treasury so we're able to make a proposal to send those somewhere. First find the DAO bulla and the DAO public key with dao list and then create a transfer transaction:

$ ./drk dao list MiladyMakerDAO
$ ./drk transfer 10 WCKD {DAO_PUBLIC_KEY} \
    --dao {DAO_BULLA} > dao_transfer
$ ./drk broadcast < dao_transfer

Wait for it to finalize, and if subscribed, you should see the DAO receive the funds:

$ ./drk dao balance MiladyMakerDAO

Creating a proposal

Now that the DAO has something in its treasury, we can create a proposal to send it somewhere. Let's send 5 of the 10 tokens to our address (we can find that with drk wallet --address):

$ ./drk dao propose MiladyMakerDAO {YOUR_ADDRESS} 5 WCKD > proposal_tx
$ ./drk broadcast < proposal_tx

Once finalized and scanned, the proposal should be viewable in the wallet. We can see this with the proposal subcommands:

$ ./drk dao proposals MiladyMakerDAO
$ ./drk dao proposal MiladyMakerDAO 1

Voting on a proposal

Now the DAO members are ready to cast their votes. First lets check the dao vote subcommand usage.

$ drk help dao vote
Vote on a given proposal

Usage: drk dao vote <DAO_ALIAS> <PROPOSAL_ID> <VOTE> <VOTE_WEIGHT>

Arguments:
  <DAO_ALIAS>    Name or numeric identifier for the DAO
  <PROPOSAL_ID>  Numeric identifier for the proposal
  <VOTE>         Vote (0 for NO, 1 for YES)
  <VOTE_WEIGHT>  Vote weight (amount of governance tokens)

Lets use our 20 MLDY to vote yes to proposal 1.

$ drk dao vote MiladyMakerDAO 1 1 20 > /tmp/dao-vote.tx
$ drk broadcast < /tmp/dao-vote.tx

Executing the proposal

Once enough votes have been cast that meet the required minimum (quorum) and assuming the yes:no votes ratio is bigger than the approval ratio, then we are ready to finalize the vote. Any DAO member can perform this action.

$ drk dao exec MiladyMakerDAO 1 > /tmp/dao-exec.tx
$ drk broadcast < /tmp/dao-exec.tx