DAOrayaki Reserach |MetaCartel：A Ecosystem Of Creators and Operators Building Decentralized Applications

DAOrayaki

13 min readSep 8, 2021

DAOrayaki DAO Research Grant：

Fund Address: 0xCd7da526f5C943126fa9E6f63b7774fA89E88d71

Voting Result：DAO Committee Yes

Grant Amount： 240 USD

Category: DAO, MetaCartel, Dapp, Grant Funding and Operational Support

Contributor：Julie, DAOctor @Daorayaki

Chinese Version:https://daorayaki.org/metacartel-yi-ge-you-chuang-jian-zhe-he-yun-ying-shang-gou-jian-qu-zhong-xin-hua-ying-yong-de-sheng-tai-xi-tong/

Project Overview

Project Name：MetaCartel

Project Logo：

Date founded：2018,9

Token Details

Token Name:Chili

Token Symbol:$Chili

Token Contract Address:0x34209A5F702a81B62197dbFc36A48c3FE04aF8d7

Token Type:ERC20

Block Explorer (Link):https://polygonscan.com/token/0x34209A5F702a81B62197dbFc36A48c3FE04aF8d7

Dual Token Model?Yes：MATIC for Transaction Fee

Token Usage Description:

$Chili is an experimental new community token aimed at aligning current and future cartel communities to kickstart collaboration.

In plain English, it’s a new community that seeks to reward collaboration. Over the past few years, They have seen how effective cross-community collaboration is within the MetaCartel Ecosystem. Since then they have been looking for ways to expand that community so they can bring more builders, creators, summoners, and community leaders together to collaborate.

Token Usage:

l gives members access to buy exclusive NFTs.

l receive access to new Discord Channels/Communities.

l receive perks from MetaCartel Ecosystem Projects.

Supply & Consensus Overview

Launch Style:Claim and Stake it

Once you join the Discord:

1. Use the !claim command

2. The Collab.Land bot will DM you a link to both connect your ETH address and Collect your CHILI

3. No gas is required to receive these tokens

4. After you claim your chili the bot will send you a link that will allow you to stake your chili.

5. Once you stake, sit back and enjoy a spicy margarita as you earn your rChili.

*Note: To earn , you will need some Matic tokens to pay a miniscule gas fees.*

Initial Supply:

(Data taken 6/28/21)

l 185,500 CHILI claimed (1M total supply)

l 160,970 CHILI is staked (86.7% of all claimed CHILI )

l Current staking APR is 621% (rCHILI)

Emission Type:

l Target APR: 200% rCHILI (enough to get degens out of bed)

l Total circulating rCHILI: 166,666 by Aug 25th

l Target liquidity percentage: 25% of total supply

l Target liquidity in tokens: 41,666 rCHILI

200% * 41,666 / 12 months = 6,944 rCHILI rewards per month

6,944 * 3 mo. = 20,832 rCHILI to mint

Block Time :

The next cycle begins Sun Jul 25 2021, with another 83,333 rCHILI rewards. By Aug 25th there will be 166,666 rCHILI in circulation.

The rCHILI total supply is 166,666. There are no other discussions to mint more rCHILI at this time.

Recipient Category:

l Builders

l Creators

l Summoners

l community leaders

Short description：

MetaCartel is a ecosystem of creators and operators building decentralized applications (DApps). Dedicated to building and connecting the application layer community of crypto.Helping early teams get to the next level with grant funding and operational support.

Background：

The MetaCartel community started during the September of 2018 as a technical working group around meta transaction technologies, a solution that allows users to interact with decentralized applications on the Ethereum Blockchain without the need to own Ether. This working group consisted of participants from a range of projects including Universal Logins, Gnosis, Status.im, ChronoLogic, SpankChain, Shipl, ENS, Argent, and ETHWorks — all of which, coordinated together through online video calls and offline workshops to standardise technical specifications and solve cryptoeconomic research problems surrounding meta transactions.

MetaCartel Ventures (MCV) is a for-profit DAO created by the MetaCartel community for the purposes of making investments into early-stage Decentralized Applications (DApps). It embodies a community-oriented membership structure and offers radical participation as well as flexibility that is unparalleled by traditional “venture capital fund” models.

Roadmap：

l September of 2018 ：Establish The MetaCartel community

l In late 2018：MetaCartel community came together to build the Gas Station Network, a decentralized network of gas relay nodes.

l February and March of 2019：The community worked on plans of launching of a DApp incubator.

l June of 2019：MetaCartel DAO’s smart contracts were deployed to the Ethereum mainnet.

l July of 2019:the DAO has since raised over 1,100+ ETH and deployed $44,450 to over 13 projects, with experiments including NFT conference ticketing, DAO reputation systems, DeFi based business.

l February of 2020:the MetaCartel ecosystem is its own metaverse of DAOs, working groups, media productions, and teams attempting to build and discover Web 3 usecases.

Organizations and Team Member

Organizations

They collaborate with each other on projects and operate various DAOs including a grants fund where provide funding to adventurers looking to experiment with new dapp usecases.

The key projects :

l Venture DAO: Investment fund that is yet to launch.

l MetaCartel DAO: DApp grants fund with over 60+ DAO members and has deployed over 60,000 USD in funding now to over 16+ projects.

l MetaGame: Massive online coordination game with the aim of incentivizing positive-sum value creation and onboarding newcomers into the greater Ethereum community.

l MetaFactory: Cryptonative eCommerce store platform that lets anyone sell items on a bonding curve with FOMO3D mechanics.

l RaidGuild: MetaCartel’s community-run dev-shop that goes on raids together with a community member to help other projects build dapps.

l DAOHaus: Moloch DAO clone factory that helps you deploy and manage your own Moloch DAO fork today.

l MetaClan: MetaCartel’s cryptonative eSports organisation.

l Shots fired newsletter: MetaCartel’s community newsletter.

l Wizard of Dapps podcast: MetaCartel’s dapp podcast.

Team Nember

l James Young — — Unofficial CTO

who’s experience growing web-based companies since the early 2000s has given him a vast amount of wisdom surrounding the adoption of innovative solutions.Founder of @Abridged_io, Makers of @Collab_land_.

Twitter：https://twitter.com/jamesyoung

l Drew Harding — — Product Strategist

He have been doing startup-based work for well over a decade, primarily through two sister agencies that he cofounded, Neon Roots and Rootstrap, provide web and mobile application services to start-up and early-stage companies.

Twitter： https://twitter.com/DrewHarding

l James Waugh — — Members

James Waugh is founder of Axia Labs and author of The Next Flippening: More DAOs than Tokens .

Twitter：https://twitter.com/BlockchainJames

l Alex Masmejean — — Members

Alex Masmejean, a passionate young blockchain evangelist who “dropped out” of 42 — a private, nonprofit and tuition-free computer programming school created and funded by French billionaire Xavier Niel — to focus on the propagation of Distributed Autonomous Organizations, better known as DAOs.

Twitter：https://twitter.com/AlexMasmej

surrounding community

Governance Mechanism

The Grimoire

MetaCartel Ventures (MCV) will be consists of two key components, including:

l The DAO’s “Grimoire”, a Limited Liability Company Agreement, that constitutes a voluntary, legally binding agreement among the members of the DAO.

l The Delaware Limited Liability Company Act, which is a statute (set of laws) determining the default governance rules and meta-rules for LLCs formed in Delaware.

The Grimoire constitutes a pact among MCV’s members, and the statute prescribes meta-rules about how that pact should be written and interpreted.

Unlike a typical LLC, the Grimoire enables MCV’s governance to become tightly coupled with its Moloch DAO v2 smart contracts.

Off-chain Governance

Off-chain Governance Detailed Mechanism:

Although MCV’s fundraising and asset management will happen on-chain, many of its decisions will be coordinated through social consensus, using “off-chain” communication channels such as group chats, video meetings, and in-person meetings. These interactions help the members develop and evaluate ideas, initiatives and values together long before they a formal proposals submitted to a vote of the members. In the cypherpunk tradition that shaped maxims such as “don’t trust, verify,” the culture of this DAO is one of personal responsibility. Every DAO member will be expected to take an active community role in remaining fully informed about the DAO’s developments and progress.

Actors:

1. Mages

l Mages are DAO members that are considered to be actively participating in the members’ shared management efforts, including activities such as sourcing investment opportunities, conducting deal due diligence and conducting asset management.

l DAO members that are not “accredited investors” must participate as Mages and should be promptly expelled from the DAO if their level of participation falls below their expected managerial responsibilities.

2. Goblins

l such rights and powers to the same extent as Mages do, despite legally having all the same managerial rights and powers under the Grimoire.

l Although Goblins may still be expelled from the DAO at any time, there is no expectation that Goblins will be expelled for inactivity and lack of participation.For legal reasons, Goblins must be deemed as (“accredited investors”).

l Goblins, despite holding a passive role in the DAO, can also become Mages if they choose, and may go from a Goblin-Mage to a pure Goblin.

3. Summoners

Summoning team members are operational delegates responsible for services around legal, financial and coordination related tasks approved, directed and supervised by Mages. Delegates can be, but not need not be members. Summoners’, tasks may include but are not limited to:

l Coordination

ü Making sure all other DAO members are aware of proposals

ü Making sure the standard of participation is enforced

ü Initiating or encouraging ragekick proposals regarding members that fall below minimum participation

ü Managing notice mechanism to ensure DAO members are notified about pending proposal votes in time to participate

l Entering into approved legal contracts representing the the DAO

l Taking approved actions with respect to off-chain funds/assets of the DAO

l Recruiting service providers such as outside accountants, lawyers, etc.

l Coordinating the DAO’s public relations

l Taking actions to register DAO’s off-chain property, if any

Discussion channel:

https://discord.com/invite/c4HqXp9JnV

Grants Program

Grants Program Details :

Over the last two years,they have also been working hard to build bridges and foster a highly aligned community of projects and teams — making up the surrounding community of MetaCartel.

Grant Program:https://www.metacartel.org/grants

Grants Application Form:

https://forum.metacartel.org/t/guide-how-to-post-a-funding-proposal/74

Grantees list:

Wave I:https://medium.com/metacartel/metacartel-dao-wave-1-funding-9e2beb1fcd8e

Wave II:https://medium.com/metacartel/metacartel-dao-funding-wave-ii-c626d49830aa

Wave I & II:

https://medium.com/metacartel/metacartel-dao-wave-i-ii-progress-and-outcomes-cohort-0-c0360a5da072

Wave III:https://medium.com/metacartel/metacartel-cohort-1-6336cdca05db

Grant Program:

On-chain Governance

On-chain governance detailed mechanism:

The Moloch DAO v2 smart contract standard is inherently well suited to facilitate MCV’s community governance goals by virtue of several features:

1、Membership is permissioned：

l Membership Admission is Permissioned:

Membership for MCV is a permissioned processes which reflects the wisdom of MCV’s existing membership. Before new membership proposals are submitted on-chain and voted on, candidates must be first championed by an existing member of MCV and undergo internal member driven evaluation where various aspects of their membership are considered: culture fit, expertise, legal viability, etc…

l Continuing Membership is Permissioned and Community-Policed:

For a person to continue being a member of MCV, that person must implicitly have the consent of an economic majority of MCV members. Any member may at any time propose that another member be expelled from the DAO, and if that proposal is approved by sufficient other members, the person will lose their MCV shares and governance rights while receiving payment tokens and claims tokens representing the percentage of MCV’s property to which the member is entitled under the Grimoire.

2、Membership Resignation/Reduction is permissionless：

Moloch DAO v2 smart contracts embodies the cypherpunk design principle of “opt-in” and self-sovereign choice, and thus exit from the DAO has been made as easy, trustless and economically riskless as possible. Hence MCV’s members are able to RageQuit at any time with respect to all or any portion of the member’s shares and receive payment tokens and claims tokens representing the percentage of MCV’s property to which the member is entitled under the Grimoire.

On-chain governance reach and Key participants

1、Overview of Membership Rights

Both Mages and Goblins are able to, permissionlessly through on-chain functions interacting with MCV’s Moloch.sol smart contract, do all of the following:

l submit DAO Proposals;

l vote on DAO Proposals;

l RageQuit and receive their percentage interest in each of the DAO’s assets

2、Voting Standards

Proposals are of two types: ordinary and extraordinary.

l Ordinary:

Ordinary proposals include membership admission, membership expulsion, proposed payments to service providers, and proposed investments in other projects. Ordinary proposals are handled entirely on-chain through MCV’s Moloch.sol smart contract. They must be sponsored by an existing member, but may be proposed by anyone. The outcome of proposals is decided by a majority of the counted votes, with no quorum requirement.

l Extraordinary proposals:

Proposals that pertain to MCV’s meta-rules and cannot be handled purely on-chain. If such a proposal is made on-chain and approved without the requisite legal formalities, it will be invalid and will not be honored, and the members responsible should be expelled. Extraordinary proposals require approval by 69% of MCV’s then current shares. Examples of extraordinary proposals include any proposal to amend the Grimoire in any material respect (aside from specified exceptions), sell more than 50% of MCV’s investment assets to a third party, merge MCV as an LLC with or into another business entity, acquire another a majority of the assets or securities of another business entity or other organization or commence or participate in any legal proceeding.

Overview of the proposal submission

In the Moloch v2 smart contracts, there are 8 proposal types which must pass a voting and grace period, similar to Moloch v1, including:

l Membership admission proposals

ü A DAO membership applicant’s tribute funds are escrowed in the Moloch.sol smart contract as their membership proposal passes through voting and grace periods

ü When the DAO proposal passes, the DAO membership tribute funds are moved from Moloch.sol into the GuildBank, where a non-transferable membership interest will be minted and assigned to the newly approved DAO member.

ü “Membership” proposals can also offer cryptonative tokens (instead of shares) as payment. Legally speaking, these are not membership proposals but simply a mechanic for receiving payment from the DAO for some property or service.

● Membership expulsion (GuildKick) proposals

ü Possibility #1: If the member has not voted previously voted “YES” on any proposal that is still pending (eg. being voted on or already approved but in the grace period), then the target member will immediately be rageQuitted with the same effect as if the target member had rageQuitted voluntarily (eg. member receives all RageTokens and RageClaims, pro rata).

ü Possibility #2: If the member has voted “YES” on any proposal that is still pending (eg. being voted on or already approved but in the grace period), the member cannot be force-rageQuitted immediately (for the same reason that we do not allow members to voluntarily rageQuit in the same circumstance), therefore, the member is “jailed”.

● Jailing & Ragekick

ü Until the proposals that the Jailed member voted “YES” on are processed, they are Jailed and cannot vote upon any other proposals. Essentially, the GuildKicked member is no longer a full member, but is stuck holding a pure economic claim to the relevant RageTokens and RageClaims for a period of time before it actually receives the distribution.

ü Once all of the relevant pending proposals have been fully processed, any member can call the “RageKick” function on the target member, or the Jailed member can call the “RageQuit” function on themselves. Either action will trigger the appropriate distribution of RageTokens and RageClaims to the target member.

ü In the unlikely, but possible event that the target member is blacklisted from receiving a particular RageToken (as in the hypothetical explored above under “RageQuits”) and does not “safeRageQuit” soon enough (within 2 weeks), the target member will require a “bailout”.

● Bailouts

ü In a guildKicked member has been sitting in jail for too long (more than two weeks), their “YES” approved proposals were processed, and haven’t SafeRageQuitted, they may be bailed out. This means their funds are “bailed out” to a multisig smart contract controlled by a group of trusted members and/or summoners, who act much like receivers or trustees in a legal proceeding. The Grimoire will require that this trusted group work to distribute the RageTokens and RageClaims to the exiting member.

● Token whitelist proposals

● Investment proposals

● OTC/Trade proposals

● Rant proposals

Technology

Overview of Technology and Network:

Moloch DAO v2 smart contracts are dependant on the external ERC-20 smart contracts controlled by third parties, MCV’s intention is for the DAO to mainly manage its assets via its on-chain smart contracts to limit administrative overhead, the main key technical components of the DAO being:

l GuildBank:

The DAO smart contract (GuildBank.sol) manages the tokens of the DAO. These funds are used for investments by the DAO in other projects, payments to service providers of the DAO, or for membership redemptions to members who RageQuit or are expelled.

l Claims tokens:

Claims token contracts (ERC-1843) are smart contracts that allocate claims on the future revenue that is deposited into the claims token contracts via specific ERC-20 tokens. Instances of the claims token contract allows the DAO to represent either revenue-generating assets or non-cryptonative assets such as SAFTs which are not live yet, and equity stakes in traditional companies.

l Off-chain:

Off-chain assets used for purposes of paying service providers are held in the LLC’s bank account, with its ownership of companies secured through legal contracts.

Primary GitHub Repo

Address：https://github.com/metacartel

Smart Contracts

Description：Moloch DAO v2 smart contracts

Media Link

Official website:https://www.metacartel.org/

Medium:https://medium.com/metacartel

Twitter:https://twitter.com/meta_cartel

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