SecureSECO DAO

What is a DAO?

DAO stands for Decentralized Autonomous Organization, which means it is an organization that manages itself without central authority. Governance of the DAO is conducted through the creation of proposals that members vote on to make decisions for the DAO. All of this is mediated by a set of programmable rules contained in smart contracts, which are deployed on the blockchain.

For more information on DAOs, see this Aragon blog post (opens in a new tab).

Why do we need a DAO?

The DAO for SecureSECO will enable the monetization of the data provided by SearchSECO. The funds received that way can then be used to reward contributions to SearchSECO, thereby providing an incentive to make such contributions.

The main reasons for using a DAO for this purpose are the following:

• Transparency: The DAO is fully transparent, since all of its operations are recorded on the blockchain. This is crucial in dealing with trust data, to avoid giving large corporations the chance to poison the well.
• Trust: The DAO is managed by the ecosystem itself, which means that it is not controlled by a central authority.
• Maintenance: The DAO is self-sustaining, since it is able to generate funds through the monetization of data.
• Innovation: The DAO enables community contributions to expand the DAO's functionality.
• Flexibility: The DAO is able to adapt to changing circumstances, since it is governed by a set of programmable rules, and the governance structure can be changed on the fly.

How does it work?

Nobody owns the SecureSECO DAO, except the community itself. The DAO is governed by a set of smart contracts, which are deployed on the Polygon blockchain. Decisions for the DAO are made through the creation of proposals that members vote on.

People can query the SearchSECO database to obtain trust data about Github repositories of their choosing. In doing so, they will pay a small fee depending on the amount of data being queried. This fee will be paid in SECOIN tokens, and will be sent to the DAO treasury. The treasury is used to reward people for running SearchSECO miners, and for contributions to SecureSECO.

Where to start?