Difference between revisions of "Debt DAO"
(Created page with "The protocol will allow DAOs to access undercollateralized loans or lines of credit secured by on-chain cash flows, such as DEX trading fees. ==Basics== *Based in: *Started in / Announced on: *Testnet release: *Mainnet release: not live yet (15-4-2022) ==History== ==Audits & Exploits== *Bug bounty program can be found [insert here]. ===Bugs/Exploits=== ==Governance==...") |
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==Governance== | ==Governance== | ||
===Admin Keys=== | ===Admin Keys=== | ||
* From the [https://docs.debtdao.finance/overview/usddebt docs] (7-2022): | |||
''"The core team has control over:'' | |||
# ''DAO partnership funds'' | |||
# ''[[Olympus (OHM)|Olympus]] Pro bonds"'' | |||
===DAO=== | ===DAO=== | ||
* From the [https://docs.debtdao.finance/overview/usddebt docs] (7-2022): | |||
''"There are [[MANY|many]] types of debt products with different management needs so Debt DAO should not have a monolithic [[governance]] structure. The reasoning behind the Marketplace structure is governance minimization and innovation maximization. Which deals get made, interest rates, etc. is all decided directly between lenders and borrowers.'' | |||
''Aspects of the [[Decentralised Autonomous Organisation (DAO)|DAO]] that are governed by [[token]] holders are:'' | |||
# ''Community Treasury'' | |||
# ''DEBT token supply'' | |||
# ''More to come"'' | |||
===Treasury=== | ===Treasury=== | ||
==Token== | ==Token== | ||
| Line 18: | Line 37: | ||
===Token Allocation=== | ===Token Allocation=== | ||
===Utility=== | ===Utility=== | ||
* From the [https://docs.debtdao.finance/overview/usddebt docs] (7-2022): | |||
''"DEBT is a [[utility token]] more so than a governance token. It's a [[Utility Token|utility token]] because in order to participate in the Debt DAO Marketplace, you must hold DEBT [[tokens]]. Holding DEBT tokens and getting access to our community and Marketplace ought to lead to better rates for borrowers and more deal [[flow]] for lenders. Most importantly it gives everyone within the Marketplace access to shared knowledge and tools around the emerging [[Decentralized Finance (DeFi)|DeFi]] lending market."'' | |||
===Other Details=== | ===Other Details=== | ||
==Coin Distribution== | ==Coin Distribution== | ||
| Line 26: | Line 50: | ||
*Built on: | *Built on: | ||
===How it works=== | ===How it works=== | ||
* From the [https://docs.debtdao.finance/overview/what-is-debt-dao docs] (7-2022): | |||
''"Debt DAO is not a single entity but rather an open [https://docs.debtdao.finance/overview/the-marketplace Marketplace] of [[DAOs]] and [[DeFi]] protocols.'' | |||
''Debt DAO's collective focus is to provide the best debt financing to its users in the most efficient way. Through our [https://docs.debtdao.finance/overview/products/line-of-credit Line of Credit] [[contract]], users can receive credit which can then be utilized to finance DAO operations.'' | |||
''Initially, Debt DAO will focus on revenue-based financing. DAOs and [[Defi|DeFi]] protocols with on-chain revenue are our initial target borrowers. This approach to crypto-native credit is enabled by our novel [https://docs.debtdao.finance/overview/products/spigot-onchain-revenue-collateralization Spigot] contract. The Spigot creates more secure loans which are automatically repaid by borrowers in a [[trustless]] manner."'' | |||
===Fees=== | ===Fees=== | ||
===Upgrades=== | ===Upgrades=== | ||
===Staking=== | ===Staking=== | ||
* From the [https://docs.debtdao.finance/overview/usddebt docs] (7-2022): | |||
''"We are currently building out [[Smart Contract (SC)|smart contracts]] to allow a wider variety of lending use cases. DEBT tokens will then be able to be [[Staking|staked]] to debt [[contracts]] to act as a first-loss layer in the event of borrower default. Adding [[staking]] will be optional, on a case by case basis if lenders want additional security.'' | |||
''In return for providing this security, DEBT [[stakers]] will [[earn]] a % of all interest payments on the loan. The % of interest paid to stakers will be dynamic based on the total amount of the loan that can be recovered by selling [[staked]] assets. On top of interest payments in [[stablecoins]] from borrowers. Initially stakers will also earn additional incentives in DEBT tokens from the treasury."'' | |||
===Liquidity Mining=== | ===Liquidity Mining=== | ||
===Scaling=== | ===Scaling=== | ||
| Line 37: | Line 75: | ||
==Their Other Projects== | ==Their Other Projects== | ||
==Roadmap== | ==Roadmap== | ||
*Can be found [Insert link here]. | *Can be found [Insert [[LINK|link]] here]. | ||
==Usage== | ==Usage== | ||
* [https://newsletter.banklesshq.com/p/top-5-tokens-to-watch?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo1MjIyMDY0NywiXyI6ImR6bWdYIiwiaWF0IjoxNjUwMjUxMzc5LCJleHAiOjE2NTAyNTQ5NzksImlzcyI6InB1Yi0xNjAxNSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.ziMb6q-W3JpSxqcjY5Y5oBuYBgWW19cU4z4UbBUgidY&s=r From] [[Bankless DAO (BANK)|Bankless]] (15-4-2022): | * [https://newsletter.banklesshq.com/p/top-5-tokens-to-watch?token=eyJ1c2VyX2lkIjoxMzk3OTAwLCJwb3N0X2lkIjo1MjIyMDY0NywiXyI6ImR6bWdYIiwiaWF0IjoxNjUwMjUxMzc5LCJleHAiOjE2NTAyNTQ5NzksImlzcyI6InB1Yi0xNjAxNSIsInN1YiI6InBvc3QtcmVhY3Rpb24ifQ.ziMb6q-W3JpSxqcjY5Y5oBuYBgWW19cU4z4UbBUgidY&s=r From] [[Bankless DAO (BANK)|Bankless]] (15-4-2022): | ||
''"While the protocol is not yet live, [[the DAO]] recently struck a deal with [Redacted] Cartel, for a [https://modern-end-7c6.notion.site/Redacted-x-Frax-Credit-Facility-c02643152d314eb4af78244400f5f171 $5 million] revolving line of credit."'' | ''"While the protocol is not yet live, [[the DAO]] recently struck a deal with [Redacted] Cartel, for a [https://modern-end-7c6.notion.site/Redacted-x-Frax-Credit-Facility-c02643152d314eb4af78244400f5f171 $5 million] revolving [[LINE|line]] of credit."'' | ||
===Projects that use or built on it=== | ===Projects that use or built on it=== | ||
| Line 51: | Line 89: | ||
==Team, Funding and Partners== | ==Team, Funding and Partners== | ||
===Team=== | ===Team=== | ||
*Full team can be found [here]. | *Full team can be found [https://debtdao.finance/about/ here] (1-8-2022). | ||
===Funding=== | ===Funding=== | ||
* [[Dragonfly Capital Partners|Dragonfly Capital]] lead [https://twitter.com/theblock__/status/1553876020452884481 $3.5 million seed round] for Debt DAO (1-8-2022). | |||
===Partners=== | ===Partners=== | ||
* Launched with [[Olympus (OHM)|Olympus]], [[Frax Finance (FRAX)|Frax Finance]] and [[REDACTED (BTRFLY)|REDACTED Cartel]] as [https://debtdao.finance/ partners] (1-8-2022). | |||
==(:== | ==(:== | ||
Knowledge empowers all and will help us get closer to the [[decentralised|decentralized]] world we all want to live in! | Knowledge empowers all and will help us get closer to the [[decentralised|decentralized]] world we all want to live in! | ||
Latest revision as of 10:14, 1 August 2022
The protocol will allow DAOs to access undercollateralized loans or lines of credit secured by on-chain cash flows, such as DEX trading fees.
Basics
History
Audits & Exploits
- Bug bounty program can be found [insert here].
Bugs/Exploits
Governance
Admin Keys
- From the docs (7-2022):
"The core team has control over:
- DAO partnership funds
- Olympus Pro bonds"
DAO
- From the docs (7-2022):
"There are many types of debt products with different management needs so Debt DAO should not have a monolithic governance structure. The reasoning behind the Marketplace structure is governance minimization and innovation maximization. Which deals get made, interest rates, etc. is all decided directly between lenders and borrowers.
Aspects of the DAO that are governed by token holders are:
- Community Treasury
- DEBT token supply
- More to come"
Treasury
Token
Launch
Token Allocation
Utility
- From the docs (7-2022):
"DEBT is a utility token more so than a governance token. It's a utility token because in order to participate in the Debt DAO Marketplace, you must hold DEBT tokens. Holding DEBT tokens and getting access to our community and Marketplace ought to lead to better rates for borrowers and more deal flow for lenders. Most importantly it gives everyone within the Marketplace access to shared knowledge and tools around the emerging DeFi lending market."
Other Details
Coin Distribution
Technology
- Whitepaper or docs can be found [insert here].
- Code can be viewed [insert here].
Implementations
- Built on:
How it works
- From the docs (7-2022):
"Debt DAO is not a single entity but rather an open Marketplace of DAOs and DeFi protocols.
Debt DAO's collective focus is to provide the best debt financing to its users in the most efficient way. Through our Line of Credit contract, users can receive credit which can then be utilized to finance DAO operations.
Initially, Debt DAO will focus on revenue-based financing. DAOs and DeFi protocols with on-chain revenue are our initial target borrowers. This approach to crypto-native credit is enabled by our novel Spigot contract. The Spigot creates more secure loans which are automatically repaid by borrowers in a trustless manner."
Fees
Upgrades
Staking
- From the docs (7-2022):
"We are currently building out smart contracts to allow a wider variety of lending use cases. DEBT tokens will then be able to be staked to debt contracts to act as a first-loss layer in the event of borrower default. Adding staking will be optional, on a case by case basis if lenders want additional security. In return for providing this security, DEBT stakers will earn a % of all interest payments on the loan. The % of interest paid to stakers will be dynamic based on the total amount of the loan that can be recovered by selling staked assets. On top of interest payments in stablecoins from borrowers. Initially stakers will also earn additional incentives in DEBT tokens from the treasury."
Liquidity Mining
Scaling
Interoperability
Other Details
Oracle Method
Their Other Projects
Roadmap
- Can be found [Insert link here].
Usage
"While the protocol is not yet live, the DAO recently struck a deal with [Redacted] Cartel, for a $5 million revolving line of credit."
Projects that use or built on it
Competition
Pros and Cons
Pros
Cons
Team, Funding and Partners
Team
- Full team can be found here (1-8-2022).
Funding
- Dragonfly Capital lead $3.5 million seed round for Debt DAO (1-8-2022).
Partners
- Launched with Olympus, Frax Finance and REDACTED Cartel as partners (1-8-2022).
(:
Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!
Making these free wiki pages is fun but takes a lot of effort and time.
If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
