Article Summary, Automatically Generated By AI
About Panda DAO
- Panda DAO aims to decentralize information and put personal data into the hands of the people.
- It is a decentralized media organization that develops decentralized data systems and liberates internet products and human resources from Web2.
- The DAO is community-managed, with token holders owning 100% of the treasury assets.
Product Roadmap
- Panda Media: collects and crowdsources the auditing process of public cryptocurrency information.
- Panda Social: generates word clouds from media data to provide insights into public opinion and sentiment.
- Panda Payment: develops a decentralized payment gateway controlled by a multi-sig contract.
Community Operation Rules</
About Panda DAO: Empowering a Decentralized Future
Embracing the Vision, Crafting the Future
Panda DAO endeavors to decentralize the control of information, empowering individuals to reclaim ownership of their personal data. Furthermore, Panda DAO strives to develop innovative tools for DAOs, enabling more individuals to dedicate themselves full-time to this novel organizational paradigm. Panda DAO transcends the realm of a mere decentralized media organization, as it pioneers the development of novel decentralized data systems and liberates internet products and human resources from the shackles of Web2.
Panda DAO has been community-driven from its inception, and this ethos is further solidified by decentralizing control over the treasury, with token holders possessing 100% ownership of treasury assets. This white paper aims to establish a framework that promotes accountability, discourages malicious behavior, and incentivizes contributors within the DAO. Cyclic elections will ensure that the influence of project initiators or malevolent actors is kept in check. Furthermore, this document outlines the proposal process, review protocols, and voting weights, thereby empowering managers and workers to heed the collective voice of the community.
Product Roadmap: Panda Media Vision
The platform aggregates public cryptocurrency information from a diverse range of online sources, including Twitter, official CEX websites, project forums, government websites, media outlets, and more. Following the collection of this vast dataset, the project will employ a crowdsourced auditing process. Community members will meticulously review and annotate the information, ensuring its accuracy and validity. By harnessing the power of a decentralized community-driven system, Panda DAO aims to create a comprehensive and trustworthy resource that provides users with current and vital information, attention indices, and source credibility, while effectively filtering out fraudulent information.
Panda Social
Upon aggregating vast amounts of media data, engineers employ sophisticated algorithms to distill the information into insightful word clouds. This functionality enables users to instantaneously grasp the prevailing public sentiment, identify the sources driving that sentiment, and track the velocity of its dissemination. Furthermore, a cutting-edge early warning system is designed to alert subscribers in real-time to any significant shifts in sentiment, such as a substantial fluctuation in market trends, thereby ensuring they remain informed and responsive to market dynamics.
Panda Payment
Despite years of blockchain development, a suitable, anonymous, and decentralized payment gateway has yet to be discovered. In a decentralized world, payments are a fundamental necessity, yet most web3-related transactions are still facilitated by Web2 technology. Panda DAO aims to bridge this gap by developing a payment gateway, governed by a multi-sig contract, specifically designed to cater to the payment requirements of web3 projects.
In the decentralized realm of Panda DAO, traditional hierarchical structures are eschewed in favor of a leaderless community, where authority is collectively entrusted to designated Leaders. In the event of necessity, the community reserves the right to democratically elect a new leader through a voting process.
The treasury of Panda DAO will debut with a robust framework of 9 multi-signature keyholders, thereby ensuring a decentralized and secure management structure. The community reserves the right to reassess and adjust the number of keyholders or replace them as deemed necessary in the future.
By default, the decentralized autonomous organization (DAO) will undergo a periodic leader election, with a frequency of once a year.
A snap election can be convened at any time, provided that a majority of community members cast their votes in favour of it.
It is imperative that no individual DAO member concurrently holds both multi-sig and leader roles, as this would constitute a conflict of interest.
Regarding treasury funding, it is imperative that a vote is held, regardless of the amount intended for allocation.
Any modifications to the Panda DAO white paper necessitate the submission of proposals and subsequent community approval through a voting process.
Vote Weighting Rules: Token-based Voting Allocation: 80% of the Total Voting Power
Work Group Vote Weighting: Fifteen Percent (15%)
Leader Vote Weighting: A modest yet significant 5% allocation.
Vote Weighting: A Democratic Approach to Consensus
Vote Weighting Token Voting Type: Token Voting encompasses two distinct categories: veToken voting and unstacking token voting. Notably, both types are accorded equal weighting, with the sole distinction lying in the disparate earnings they generate.
Token holders who participate in staking are rewarded with additional tokens. Annually, the DAO distributes a dividend to veToken holders. Notably, staking does not relinquish voting rights; instead, the veToken community operates its own distinct voting system. Upon expiration of the staking lock period, any veToken balance is reset to zero. For instance, if customer A stakes 100 Tokens, they will receive 100 tokens in return, and once the staking lock period expires, their veToken balance will revert to zero.
Panda DAO has carefully crafted its tokenomics to prevent whales from exploiting the treasury for personal gain. This design also mitigates the risk of voting errors. Furthermore, the transparency of the voting process is ensured, with all results publicly disclosed, including the votes cast by the Work Group and Leader. The Work Group comprises treasury multi-sig roles, auditors, developers, and other essential staff members.
Token Distribution and Economic Roadmap: The inaugural token allocation of Panda DAO is outlined as follows:
DAO Fundraising: 50%
The Project Development Team: 12% (released linearly)
The Content Auditing Team: 6% (released linearly)
Leader: 4% (released linearly)
Columnist: 6% (released linearly)
Other Team Expenditures: 12%
PeopleDAO Funding: 5%
LP Pool: 5%
The Linear Distribution model operates on a 1-year cycle, with 1/12 of the total allocation released monthly. This releasing mechanism expires after a 1-year period.
Panda DAO is poised to embark on a fundraising endeavor, seeking to amass 500 ETH via JuiceBox. Notably, a 5% allocation of the accumulated funds will be donated to the PeopleDAO community, serving as a testament to their instrumental role in the project’s inception. This benevolent gesture will enable PeopleDAO to further nurture and support a diverse array of DAO ecosystems. It is worth noting that the entirety of the raised funds will be disbursed in a single transaction, with no provision for linear unlocking.
The token’s sale price is set at 1 ETH equivalent to 500,000 tokens. Following the fundraising period, Panda DAO will determine and issue the corresponding token supply based on the funding received.
To guarantee a fair and decentralized distribution, Panda DAO has implemented a safeguard to prevent token concentration in the hands of a select few, which could lead to centralization. To this end, the funding channel will be closed 24 hours after the funding surpasses 500ETH, upon which the tokens will be minted and released.
The Project Development Team In the inaugural phase, 12% of the Token allocation will be designated for the development team, wherein 3% will be uniformly distributed amongst all developers, and the remaining 9% will be disbursed based on the outcome of an internal vote, with all voting results to be publicly disclosed.
The Content Auditing Team: Unveiling Transparency through Collective Insight
The content auditing team will meticulously sift through vast amounts of information, distilling it into actionable intelligence. To ensure utmost transparency, the identity of each auditor will be publicly disclosed. Panda DAO aims to enlist a diverse pool of over 1,000 auditors who will dedicate their spare time to this collaborative endeavour.
On a monthly basis, Panda DAO will allocate token rewards to auditors in proportion to their auditing accomplishments, as determined by our advanced analytical search model.
The evaluation criteria encompass, but are not restricted to:
Tripartite Emphasis: 1. Expedient Auditing; 2. Unimpeachable Audit Quality; 3. Comprehensive Audit Coverage
Columnist: At present, Panda DAO does not operate its own newsdesk. Instead, our data is aggregated from publicly available internet sources, serving as a foundation for our articles. To incentivize columnists, Panda DAO curates hundreds of blogs, articles, videos, and other content on a monthly basis, followed by a voting process. The weight of these votes determines the Token rewards allocated to each author. By adopting this approach, Panda DAO aims to attract an increasing volume of high-quality content.
Beyond the token distribution outlined above, Panda DAO will also set aside tokens for other teams, including operational teams and full-time partners. This allocation falls under the purview of the community treasury, with specific use cases to be proposed by the community itself. Furthermore, the community retains the flexibility to propose alternative uses for these tokens, extending beyond team members.
LP POOL: Initially, Panda DAO will allocate 5% of our token supply to the Liquidity Pool, thereby facilitating market circulation and catering to investors in the secondary market. The resulting fee revenue will be channeled into our treasury.
To mitigate the risk of impermanent loss, the community will adopt a batch deposit strategy, thereby ensuring that the proportion of ETH in the liquidity pool remains below 10% of the total funding amount.
PeopleDAO Funding: As a pioneering funder and contributor, 5% of the Token allocation will be reserved for the PeopleDAO community, acknowledging their pivotal role in governing subDAO. This strategic move will further solidify the bond between PeopleDAO and subDAO, fostering a unified community of shared interests.
The leader of PandaDAO will be a full-time employee, receiving token rewards on a linear, monthly basis. In the event that a proposal to replace the leader is approved, the token compensation will be terminated for the incumbent leader and transferred to the new leader.
The Funding Plan outlines the allocation of raised capital to cover essential expenditures, including server rentals and API connections, comprehensive safety audits, partnership fees, marketing initiatives, and the initial development of the LP Pool. The monthly server rental cost is estimated at $999. As Panda DAO progresses to its later stages, the organization will expand its server capacity and establish a backup server to ensure seamless operations. The safety auditing process encompasses a thorough examination of contract code, organizational operations, and code logic to guarantee the security and integrity of the system. Furthermore, a high-performance CDN server will be necessary to mitigate the risks of DDOS attacks and other common SQL and XSS vulnerabilities. The late-stage product development will also necessitate additional server resources and bandwidth expansion. Additionally, Panda DAO will provide competitive salary packages and token option rewards to its full-time employees. These endeavors will require substantial funding to ensure their successful implementation.
The Allocation of DAO Treasury Revenue: 40% for the Buyback of PandaDAO Tokens, 10% as veToken Dividends, 5% for the Purchase of $PEOPLE Tokens to be Sent to the PeopleDAO Treasury, and 45% Reserved for Other Digital Assets. *Note: This Refers to Treasury Revenue, Not Funding for the DAO. The Treasury Revenue Encompasses LP Fees, Product Charge Profits, Advertisement Income, and Other Sources.
Treasury Revenue Distribution and PandaDAO Token Buyback: The community will allocate 50% of the Treasury’s revenue to repurchase tokens, thereby funding the incentive program for the forthcoming year and capturing value for the PandaDAO token. The token’s primary objective is to replenish the incentive pool for long-term contributors, including the project development team, content review team, columnist team, and other teams. This approach enables Panda DAO to sustain its economic plan. In the event that the token premium becomes excessively high, resulting in insufficient token storage in the Treasury, the incentive plan can be implemented using alternative assets, such as USDC, ETH, WBTC, and others.
The dividend mechanism is designed to incentivize community engagement, whereby 10% of the Treasury proceeds will be allocated to reward individuals who participate in staking their tokens. Notably, VeToken dividends are primarily determined by the time-weighted staking duration and the total number of staked tokens.
Purchase $Token to Empower PeopleDAO: A Beacon of Decentralized Governance
Establishing a precedent, ConstitutionDAO has paved the way for decentralized autonomous organizations (DAOs). Notably, PeopleDAO has received early backing from PandaDAO. Alongside PandaDAO and AssangeDAO, these projects are built upon the principles embodied by the $PEOPLE token, which represents a fundamental consensus. By donating 5% of its resources, PandaDAO demonstrates its commitment to giving back to the PeopleDAO community without straining its finances. For every $PEOPLE token purchased, the PeopleDAO community can initiate proposals for burning or other incentive programs. In the future, the PeopleDAO community may establish its own revenue streams, such as a LaunchPad. Until then, the DAO community must come together to support one another, and later, the community can submit proposals for changes or cancellations as needed.
Other Treasury Assets The Treasury’s diverse portfolio encompasses stablecoins, ETH, BTC, and other digital assets. The utilization of these assets can vary widely, ranging from strategic investments in external projects to stablecoin farming initiatives. Notably, the deployment of Treasury assets is a community-driven decision, as managers and workers do not possess absolute authority over the allocation of funds, ensuring a collaborative and transparent approach to resource management.
PandaDAO’s primary revenue stream stems from its flagship product, Panda Media, which specializes in internet network information screening, filtering, analysis, and push alerts. The project’s founder, Panda, plans to introduce premium features, including alerts for trending keywords, critical information alerts, advanced search functionality, and more. Furthermore, Panda DAO will develop additional premium products, generating substantial revenue for the Treasury. Beyond user payments for these products, Panda DAO will also accrue revenue from LP pool investments, Treasury stablecoin farming, investments, advertising, and other sources.
In the event that Panda DAO lacks a multi-sig Treasury, PeopleDAO’s multi-sig Treasury will assume responsibility for overseeing the entirety of financing outcomes and residual tokens.
The assets will be seamlessly transferred to the Panda DAO Multi-Sig Treasury upon confirmation. Notably, People DAO’s multi-sig is comprised of 9 individuals, democratically elected through an open election process, thereby guaranteeing absolute fairness and transparency.
One of the community’s guiding principles is that any utilization of Treasury assets must be subject to a vote, encompassing financing, capital migration, and every aspect of capital allocation. This approach effectively prevents the personal misappropriation of funds.
Code Security Following the financing, Panda DAO will embark on a comprehensive code security audit of ERC, to be undertaken by a reputable security organization. Upon completion of the initial product iteration, we will initiate a thorough security overhaul of the entire product, encompassing, but not limited to, server security, front-end and back-end code security audits, architectural security assessments, and logical vulnerability security reviews.
Proposal Posting, Review, and Voting Process: A Comprehensive Framework
Any token holder is empowered to submit a draft proposal to Panda DAO’s Discord channel. To facilitate this process, Panda DAO provides a proposal template for reference. The community convenes weekly to deliberate on active proposals, with Discord moderators expertly guiding the discussion. This inclusive conversation involves stakeholders such as PandaDAO multi-signers, administrators, leaders, full-time staff, and other workers, who undertake an initial internal vote on the proposal. If the proposal secures more than 60% approval, it advances to a public vote, determining whether it should be implemented. Notably, the community can only approve one proposal per week, ensuring the efficient implementation and tracking of proposals.
All proposals will undergo a three-stage voting process, comprising Snapshot voting (utilizing unlocked tokens), veToken voting, and Dework voting (involving workers and Leaders). As the ve system is currently under development, the DAO will initially employ Snapshot and Rework voting. Upon completion of development, the ve system will be submitted to the security team for a thorough audit, followed by its official launch.
The primary motivation behind the design of this proposed system is to mitigate the risk of approving proposals that lack broad community consensus. Furthermore, our goal is to create a system that empowers even those holding a modest number of tokens to make meaningful contributions towards the adoption of valuable proposals.
In the unlikely event that PandaDAO’s project endeavors do not come to fruition, a contingency plan is in place to ensure fairness and transparency. In the event of project failure, the community will be empowered to initiate a proposal, and if approved, a refund process will be promptly initiated to ensure that stakeholders’ interests are protected.
Panda DAO will conduct a comprehensive valuation of its assets, encompassing those held in the Treasury, at the specified time. A snapshot of wallet addresses invested in the DAO will be captured simultaneously, ensuring a fair and equitable refund for all stakeholders.