This is a prototype of an idea exploring group memberships using FIO. A DAC or DAO is, at it's core, simply a group with members who elect admins who then (via multisig) govern the group.
For more details on this idea, see: https://fioprotocol.atlassian.net/wiki/spaces/FC/pages/62423205/FIO+Groups
You can view the prototype running here: https://fiogroups.lukestokes.info/
You can view a slide deck presentation about FIO Groups here: http://bit.ly/fiogroups-deck
The basic flow:
- User logs in with Anchor Wallet.
- User creates a group which involves:
- Registering the group FIO Domain
- Registering their member name (FIO Address) on the group domain
- Transfering 10 FIO to create a new FIO Group account
- Adjusting the permissions on that account so they have active and owner control.
- Transferring the domain to the group account.
- Others can apply to join the group which involves:
- Requesting a member name (FIO Address) on the group domain
- Sending tokens to the group treasury to pay for their member name
- Creating an msig for the group admins to approve creating of their member name.
- Members can create a new election at any time if there is no currently active election.
- Members can register as admin candidates
- Members can vote on admin candidates in active elections
- Votes for an election can be counted to determine the new admins for the group
- Election results can be verified which creates a new msig for the previous admins to execute which gives over control of the group to the newly elected admins.
- Individuals can deactivate their accounts at any time.
- Individuals can reactivate a deactivated account at any time.
- Admins can disable an account at any time.
- Only admins can enable a disabled account.