ContinuumDAO Forum

Abstract

This proposal seeks DAO approval to establish a legal entity under Ras Al Khaimah’s (RAK DAO) Startup Package, enabling regulatory compliance, institutional partnerships, and operational scalability for our crypto RWA project at a total initial cost of 9,435 AED.

Motivation

1. Regulatory Necessity:
   • Tokenized real-world assets require licensed entities for banking, custody, and institutional collaboration.
   • 87% of UAE-based Web3 projects report faster partnership onboarding with formal incorporation.
2. Strategic Advantage:
   • RAK DAO’s startup-friendly framework reduces incorporation costs by 57% compared to Dubai mainland licenses.
   • Grants access to 130+ medium/low-risk activities, including Blockchain Development (ICT-003) and Digital Asset Management (FIN-112).

Specification

Overview

• Package: Startup Package (3 Visas, 2-Year License)
• Activities: 4 approved codes (2 primary, 2 secondary)
• Compliance: Medium-risk tier alignment

Type of Proposal: Treasury Proposal

• Requires funding from DAO treasury for entity setup.

Scope

• Included:
  • License issuance (RAK DAO)
  • eChannel banking integration
• Excluded:
  • 3 Employee visas
  • Golden Visa eligibility (requires 3-year license)

Success Criteria

1. Entity operational within 14 days of approval.
2. Secure UAE corporate bank account within 60 days.
3. Onboard 2+ institutional partners by Q3 2025.

Timeline/Budget

Ongoing Costs:

• Annual Visa Renewal: [8,000 AED] (Year 2)
• Activity Expansion: [2,000 AED] per additional code

Notes

1. Under the UAE legal system, directors have the authority to override unlawful DAO decisions in specific circumstances.

References

RAK DAO - Company Presentation.pdf
RAK DAO Startup Package.pdf

Given the current development status of the project and the necessity to sustain its presence in the market, it is crucial to secure additional funds for the treasury. These funds are essential to maintain basic operations and to achieve existing milestones. We urgently need to implement measures to increase treasury funding. Concurrently, it is important to accurately track supporter contributions to ensure that community members are appropriately rewarded for their investments.

For the funding required until the mainnet launch, we estimate that an ideal amount would be at least $1 million. This will enable us to complete all necessary audits, recruit additional contributors, and achieve significant milestones, such as integrating more ecosystems and onboarding additional projects, ensuring a 12-month operational runway.

Feedback from researchers and venture capitalists indicates that we also need to enhance our growth capacity across multiple market cycles, both bullish and bearish. This capability is currently lacking in our deck. While RWA present an exciting opportunity, the infrastructure is not yet mature. In addition to developing RWA infrastructure, we must also focus on trends in this market cycle, such as non-EVM chains like Solana, TON, Near, and SUI. Establishing our identity within this cycle is vital for business growth and will lay the foundation for achieving our long-term RWA milestones.

Key action items include:

1. Develop a comprehensive funding proposal that involves DAOs, community members, and venture capitalists, and establish a public funding channel.
2. Continuously update our pitch deck and narrative based on feedback, ensuring it supports growth across multiple market cycles.
3. Onboard more projects for partnerships to increase Continuum's credibility.

Hey @Raini-Ng @kips , thank you for your valuable suggestions and advice for CTMDAO. Below, you will find a detailed breakdown of CTM's current costs and team structure. Please note that the treasury report will be provided by the end of January.

The operation budget for each month:

• 48k for 4 core-contributors
  • MPC core dev contributor
  • C3Caller core dev contributor
  • Project management and operation contributor
  • Ecosystem development contributor
• 20k reserve budget for contributors’ payment with the following type:
  • Research Guild contributor
  • Marketing Guild contributor
  • BD Guild contributor
  • Visual Designers
  • Front-end developer
  • Product contributor
  • Committee payment
  • Other payment reserves
    • Server payment
    • Crypto event expense
    • Crypto event expenses
    • Other operation expense

Deliverables:

• Product Lines
  • CTMMPC
    • Landing page
    • Network dashboard V1
    • MPC nodes mechanisms
    • Test-net by March
  • Caller
    • Landing page
    • Node service register page
    • On-chain account system
    • Test-net by March
  • veCTM
    • CTM lockup
    • veCTM splitting/merging/liquidation
    • Fee reward distribution
  • Funding
    • Industry/competitors funding research
    • CTM content/narrative/deck prep
    • Advisor engagements
    • Backer engagements
    • Seed before Q3
• Guilds:
  • Industry research (Competitors, content generation, strategy research)
  • Marketing operation (Social media account operation, go-to-market strategy generation, campaign operation)
  • BD engagements (project collaborations, major crypto ecosystem engagements, test-net project invitation)
• Other Operations:
  • DAO operation
    • Committee election operation
    • Forum operation
    • Proposal preparation
  • Contributor operation:
    • Contributor recruitment
    • Contributor bounding

Marketing Budget

CTM Testnet Odyssey Campaign 10k
KOL Reaching/collaboration 5k
Content generation 5k

• Article
• Video

Abstract

This proposal seeks to enhance community involvement and gather valuable insights from DAO members regarding two significant funding rounds planned for June 2024 and December 2024. The proposed funding will fuel the development and expansion of our blockchain project, including the completion of public testnets, smart contract audits, blockchain incorporation, dApp onboarding, VC networking, and research into MPC blockchain technology.

Motivation

As we progress towards our Seed Round in June 2024 and Series ‘A’ in December 2024, it is imperative to leverage the collective intelligence and diverse perspectives within our DAO community. By soliciting suggestions and feedback, we aim to ensure that our funding strategies align with the interests and expectations of our stakeholders. Additionally, gathering input from DAO members can provide valuable insights into potential opportunities, risks, and areas for improvement.

Specification

Overview

The proposal involves requesting suggestions and feedback from DAO members on the funding plans outlined for the Seed Round and Series ‘A’. Specifically, we seek input on funding amounts, total supply allocation, valuation ranges, minimum purchase requirements, and offer durations.

Scope

• Soliciting suggestions from DAO members through designated channels such as forums, voting platforms, and community meetings.
• Providing clear and comprehensive information about the funding rounds, including their objectives, use of funds, and expected outcomes.
• Encouraging active participation and engagement from DAO members by fostering an open and inclusive decision-making process.

Success Criteria

• Receive a diverse range of suggestions and feedback from DAO members.
• Identify key insights and recommendations that enhance the effectiveness and alignment of the funding plans.
• Strengthen community engagement and satisfaction by demonstrating responsiveness to member input.
• Finalize funding strategies that reflect the collective wisdom and consensus of the DAO community.

Timeline/Budget

• Timeline: The solicitation of suggestions will commence immediately and continue for a period of two weeks.
• Budget: No additional budget allocation is required as this initiative leverages existing communication channels and community resources.

Example

Conclusion

By actively involving DAO members in the decision-making process, we aim to foster a sense of ownership and collaboration, ultimately leading to more informed and effective funding decisions. We look forward to the valuable insights and contributions from our vibrant community as we continue to advance our project together.

I believe that extending the governance process can offer DAO members a better opportunity to actively engage in forum discussions and Snapshot votes. However, it's important to acknowledge that this extension might lead to a slower operational pace. Unless we strike a balance between CTM development and the scale of governance, there's a risk of hindering the overall development speed of the CTM.

Moreover, the higher threshold for the participation rate in the temperature check is aimed at preventing proposals from progressing to formal votes when they haven't garnered sufficient support from our community.

Nonetheless, we should strive to find a more balanced model that accommodates both the extended duration of the governance process and a strict governance participation setting.

Hey @Apxymous thx for the question about veCTM!
Based on the treasury balance and the long-term development contributions, some contributors prefer to mix their payments with veCTM, currently valued at 1:1 to USD. To facilitate their participation in the governance process, we will prioritize the distribution of early vote tokens to these contributors. Additionally, in the near future, ContinuumDAO plans to airdrop the equivalent amount in veCTM to these contributors.

Excellent work, @hal0177 !!! Is there a variable percentage for the penalty component of the veCTM? This is important because individuals may have varying unlock periods in the future. We should consider applying distinct ratios to correspond with different veCTM unlock durations.

Hey guys, here is a suggestion for the fair payment structure for contributors based on the average compensation across various platforms, such as https://web3.career/smart-contract-jobs. Additionally, I have incorporated a matrix that considers the length of working experience, aiming to provide equitable compensation within CTMDAO.

Non-code Rate (NCR)

Basic Payment: $200/day

Crypto Industry Experience Bonus
$ = NCR * (1 + f(n))

Code Rate (CR)

Front-end: $280/day
Back-end: $360/day
Smart-contract: $320/day

Crypto Industry Experience Bonus
$ = CR * (1 + g(n))

This structure not only provides a solid base payment for contributors but also recognizes and rewards the valuable experience gained in the crypto industry over the years. Feel free to reach out if further adjustments or clarifications are needed.

Some questions need your thoughts:

Since we are launching a brand new MPC architecture, we have the opportunity to make an efficient system, fixing issues from the past. The contracts refer to the public code of MC and make corresponding optimizations.

From the current design of the MPC-network, C3Caller. We have several problems that need to be solved:

1. Distinct Node Groups with Varied Functions:

• In the C3 Protocol, the nodes (C3Caller) operate distinctly from CTM-MPC nodes. Each group serves different purposes and utilities. Specifically, C3 Protocol nodes require a team of at least three individuals who can manage them diligently and respond swiftly to any issues.

2. Considerations for Launching a CTM Bridge:

• Flexible Fee Structure: The fee system of the upper-level Dapp Router should be adaptable. It must have the capacity to quickly adjust in response to market fluctuations.
• Dedicated Chain-Integration and Support: Establishing a specialized operation team to provide round-the-clock support and integration services is crucial.
• Liquidity Strategies: We need to focus on securing liquidity sources. This includes venture capital and designing incentives around liquidity tokenomics.

Hello everyone! I would like to nominate myself for the election to the committee.