OpenDAO tool
OpenSwap recently submitted a proposal for a Harmony grant to build a new smarter DAO. The DAO will have it's actions managed through automated and dynamic smart contracts. This could be considered a multi managed dynamic contract manager with user consensus.
The official proposal can be found here: https://talk.harmony.one/t/openswap-dao-opendao-developement/8164
What does this mean? As the DAO is managed by users designated as ‘Angels’; the Angels will have the ability to submit dynamic contract execution through a voting platform. If approved, the action will be executed automatically. The functions controlled by the automated smart contracts include treasury actions (send transfers, add liquidity, wrap tokens, farming rewards, executing trades, job management, etc), decentralized exchange controls (add farms to protocol, change farm coefficients, etc), and management of the DAO (declare new function calls, change the quorum and total votes needed, etc). With the ability to add additional functions to the DAO, this is truly limitless. Additionally, these functions add a level of security to the DAO and require the elected quorum to approve and execute the action immediately.
The proposal includes the creation of the OpenSwap DAO as proof of concept.
Furthermore, this includes the ability for future DAOs to use the same tech in their creation. The ability to create new DAOs will be open to anyone on any chain.
Last modified 8mo ago