Creating and Managing DAOs with Syncra: Public Testnet Announcement

Dyku...bB36

30 Dec 2023

What is SYNCRA?

Syncra is a platform that offers DAO-as-a-service for the Substrate network ecosystem, providing seamless integration and a great user experience. It allows protocols to create and manage their DAOs with ease, simplifying the process by offering features like undisclosed voting, treasury management, on-chain actions, and proposal automation.

Syncra has made an announcement for the implementation of Public Testnet. You can see the details on the Syncra X account.

There are several steps you must take to complete the testnet :
➖ Create DAO
➖ Create governance token for DAO
➖ Create proposal
➖ Vote for proposal
➖ If any, submit feedback on Discord.

Step 1 - Create Wallet

Go to Subwallet to get the wallet needed for testing. You can choose Extensions, IOS & Android, or Web Dashboard. For me, I used Extensions in testing.

Create a wallet account and don't forget to save the phrase.

Go to https://testnet.syncra.xyz to register and connect the wallet account you have created.

Step 2 - Get a faucet

You need the necessary tZERO faucet used to perform the task. Follow these steps to get the Faucet.
First click on your account, and copy your wallet address.

Go to https://faucet.test.azero.dev and paste your copied wallet address.

Step 3 - Create DAO

Create a DAO Once you connect your wallet and get the faucet, you can start creating your DAO.

Provide Information You'll need to provide some basic information about your DAO, such as its name, logo, background image, and social media links. This information is used to represent your DAO on the blockchain and make it easily recognizable to other users.

Choose your strategy There are two main strategies to choose from when creating a DAO: PSP22-based or wallet-based. PSP22-based DAOs are based on the PSP22 standard, which allows for the creation of custom tokens that can be used to represent ownership or voting rights in the DAO. wallet-based DAOs, on the other hand, are based on a list of approved wallets that can participate in the DAO.

A. Token Holders If you decide to go with Token Holders strategy, you will be asked to either provide an address of the existing PSP22 token, or create one within our UI.
B. Addresslist In case of Addresslist voting, please provide a list of (AlephZero based) wallet addresses eligible for voting.

NOTE: Please be aware of the fact that selected DAO Strategy (Token Holders or Addresslist), will also impact the available Voting Strategies in the DAO.

Step 4 - Create governance token for DAO

Set up Voting Rules Depending on the strategy you choose, you'll need to provide proposal voting rules and a list of approved wallets for your wallet-based DAO. This information is used to ensure that only approved participants can participate in the DAO and have voting or ownership rights.

Confirm your choices and create your DAO Once you have provided all the necessary information, you can review your choices and confirm your decision to create your DAO. After confirming your decision, your DAO will be created and visible on the blockchain. You can now start managing your community or project through your DAO.

Step 5 - Create proposal

On the DAO page, look for the "Create New Proposal" button and click on it to initiate the proposal creation process.

Select Voting Strategy

Depending on the voting strategy chosen during DAO creation (PSP22-based or wallet-based), you will need to select the appropriate voting strategy for your proposal. The available options differ based on your DAO strategy.

For Token Holders Strategy: You may need to select the appropriate voting strategy that aligns with the DAO's governance structure.
For wallet-based Strategy: The voting strategy will typically be based on the options selected during DAO creation, such as "Basic Voting or Referendum," "Polling with Multiple Answers," or "Approval with Multiple Answers."

Note: What I chose when creating the DAO was A. Token Holders If you decide to go with Token Holders strategy, you will be asked to either provide an address of the existing PSP22 token, or create one within our UI.

Then a display like the image below will appear.

Click Increase allowance of 10,000 SBP (Amount and name of tokens depend on your choice).

Review and Deploy or Adjust

Review all the proposal information you've provided. Ensure that all details are accurate and complete. You can make any necessary adjustments or refinements at this stage.

Step 6 - Vote for proposal

Basic Voting, also known as a Referendum, is a simple and widely used voting strategy.
Participants cast their votes as:

YES
NO
ABSTAIN

Click Increase allowance with SBP "amount" then submit and approve.

Each vote carries equal weight, making it a straightforward way to gauge community sentiment and make decisions.

For further information, you can visit the page below.
Website: https://syncra.xyz
Twitter: https://twitter.com/syncra_xyz
Discord: https://discord.gg/kAZsTE9xKA
Document: https://docs.syncra.xyz

You can also do other testnets below.