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Version: 0.1.x

Creating DAOs

Creating a DAO is a great way to leverage the power of blockchain technology to manage a community or a project. Here's a step-by-step tutorial on how to create a DAO using Syncra platform:

  1. Connect your wallet: Before creating a DAO, you'll need to have a wallet that can connect to the blockchain. You can use polkadot{.js} wallet extension to connect to Syncra dApp.
  2. Provide Information: Once you have connected your wallet, you can start creating your DAO. 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 recognisable to other users.
  3. Choose your strategy: There are two main strategies to choose from when creating a DAO: PSP22-based or whitelist-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. Whitelist-based DAOs, on the other hand, are based on a list of approved wallets that can participate in the DAO. Also, you can choose to create your own custom strategy. More on that in link here.
  4. Provide token address or list of wallets: Depending on the strategy you choose, you'll need to provide either your new PSP22 token details or a list of approved wallets for your whitelist-based DAO. This information is used to ensure that only approved participants can participate in the DAO and have voting or ownership rights.
  5. 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.