Why DAO?
One of the main benefits of a DAO is that they are more transparent than traditional companies since all actions and funding in the DAO are viewable by anyone.
DAO members will be more motivated than company staffs, because most of the DAO members attend a DAO based on their interest, and a lot of company staffs find a job just to feed themselves
DAOs typically are more globally accessible and have lower barriers to entry than companies.
Why Squads?
Squads is collaborative infrastructure for web3 native teams that allows to organize, make decisions and manage digital assets together.
Squads is build on Solana. Solana is the fastest/low cost blockchain in the world and have the fastest growing ecosystem in crypto world, so the Squads will grow with Solana.
Your teams in Squads is codified on-chain, no one can take that away from you. Squad is the ultimate framework for collective ownership of digital assets, which opens up possibilities for trustless joint ventures, collective pursuits and joint asset management. You can voted with your team on-chain.
The investors of Squads are luxurious.
What can we do in Squads
Two types of squads
So you can create two types of squads now.
- Teams (codified on-chain membership, tokenless, member-weighted on-chain voting)
- Multisig (simple multi-signature wallet to manage team assets by requiring multiple signatures to confirm a transaction).
Create squads
You can create the two types of squads at Squads App. The steps for creating a Multisig/Teams squad are mostly the same. Multisig squad is simpler than Teams. I’m going to talk about how to create Multisig and Teams squads.
Create Multisig squad
When create a Multisig squad, the most important step is add multi owners for Multisig squad.
Also you can add owners after create a Multisig squad.
Create a Teams squad
Create Teams squad is more complicated than create Multisig squad.
The user need to set token amount for voting when add members at creating a Teams squad.
Also the owner can add/remove a member after created a Teams squad.
You can set a voting rule when creating a Teams squad, also you can change it after created.
Voting in Teams squad
You can create a proposal for voting in Teams squad at voting page.
You can set your propose title/description/start time/end time/proposal type(now only support single choice vote)/options.
Vault
Assets
You can send/deposit/swap(support by Ray) token in Vault page’s Asset tab.
You can deposit all your asset in your wallet.
When you deposit your asset successfully, it will display in your balance, and you can find the transactions in Tab ‘Recent transactions’.
You can send asset in Vault page, but send asset will be a proposal, this meaning the send asset action also need voting(I will talk about this in send NFT).
NFT
You can send/deposit your NFTs in Vault page NFT tab.
Also the send NFT action will be a proposal.
The send action will be a proposal displayed at Voting page.
So if I want to confirm the send NFT proposal, I can select the Accept option and click the vote button.
Because I set 2 members for my Teams squad, every member has 50% voting right, and a proposal need at least 51% members to participate in the vote. So this proposal need another members to vote.
After members voting and pass a proposal, we need to click the Execute button to execute the action.
Summary
The Squads is a very useful DAO tool in Solana, create and manage a DAO will be simple enough by using Squads.
The investors of the Squads are the best.
The team of Squad is keep going, a lot of new features are in their roadmap.
So we can see more and more DAOs will use Squads in the future and Squads will be the best DAO tool in Solana.