[1IP-51] Extend 1inch DAO with EIP-4824

Author: amanwithwings

Simple Summary

An opportunity to publish an EIP-4824 compliant daoURI for 1inch DAO and join the ranks of Optimism Collective, Arbitrum Foundation, ShapeShift, Snapshot, Aragon, etc. in advancing the interoperability of the DAO ecosystem.

Abstract

EIP-4824 defines a standard JSON schema for publishing DAO metadata onchain. If this proposal passes, 1inch DAO will adopt EIP-4824 by deploying a new smart contract on the Ethereum mainnet to store its daoURI. This proposal does not involve any transfer of funds or changes to 1inch’s existing smart contracts.

DAOstar, with the support of grants from the Ethereum Foundation, Optimism Collective, Arbitrum Foundation, Gnosis, etc. will assist 1inch DAO in creating its daoURI. Except for gas fees required to deploy a registration contract, the DAO will not have to bear any additional cost or resources to execute this proposal.

Motivation

Today, there are over 20,000 DAOs (source), deployed using different governance frameworks, many with token holders and treasuries on multiple chains. This number is set to increase by orders of magnitude in the next few years. Additionally, with new layer-2s and cross-chain products, the number of DAO-controlled parameters is increasing day by day.

But currently, we lack a robust framework to process DAO data. While tooling providers are doing their best, it has become almost impossible to keep up with the DAO ecosystem. A good litmus test of the present situation is to check the amount of manual labor it takes to add/change data on any of the leading aggregators like Messari, DeepDAO, or Boardroom. As a result, new DAOs, DAO frameworks, and novel DAO data fail to be represented by tooling providers.

EIP-4824 was authored to address this shortcoming. The standard has gained significant momentum in the last year in terms of adoption:

1. Snapshot X, the onchain governance framework from Snapshot Labs has adopted EIP-4824. Going forward, 100s and possibly 1000s of DAOs created using Snapshot X will be automatically EIP-4824 compliant.
2. ShapeShift DAO, Unlock Protocol, and LXDAO recently adopted EIP-4824.
3. Optimism Collective awarded DAOstar a Mission Proposal to ensure EIP-4824 compliance within the Optimism ecosystem. We are currently developing an alternate route to publishing daoURI’s, using Ethereum Attestation Station (EAS).
4. The Arbitrum Foundation awarded DAOstar a grant to streamline the adoption of EIP-4824 and the infrastructure being built on top of it. This grant will support an ambitious regulatory interoperability project that leverages EIP-4824 to build a regulatory interface for DAOs.

On top of this, DAO frameworks including Aragon V3, DAODAO (Cosmos), Moloch v2 / DAOHaus, Moloch v3 / DAOHaus, Gnosis Safe, DAOstack, KALI, Q.org, Power Protocol, and XDAO have either already adopted or have committed to adopting EIP-4824 in the short term.

EIP-4824 has also provided a solid foundation for the Grants Management Standard piloted by Gitcoin; Attestations Standard authored by Avenue, Govern, EAS & funded by Optimism; and for much of the Regulatory Interoperability working group’s initiatives, proving the importance of a DAO metadata standard.

Specification

EIP-4824 defines a standard JSON-LD schema to publish DAO metadata onchain:

{

"@context": "http://www.daostar.org/schemas",

"type": "DAO",

"name": "<name of the DAO>",

"description": "<description>",

"membersURI": "<URI>",

"proposalsURI": "<URI>",

"activityLogURI": "<URI>",

"governanceURI": "<URI>",

"contractsRegistryURI": "<URI>"

}

A daoURI is simply a link that points to information on 1inch DAO, compliant with the above-defined schema. We make the following suggestions regarding subfields:

name: 1inch DAO

description: The 1inch Network (https://1inch.io/) unites decentralized protocols whose synergy enables the most lucrative, fastest, and protected operations in the DeFi space by offering access to hundreds of liquidity sources across multiple chains. Currently, its product offerings include the 1inch dApp, 1inch Aggregation Protocol, 1inch Liquidity Protocol, 1inch Limit Order Protocol, P2P Transactions, and the 1inch Mobile Wallet. The 1inch Network is composed of three distinct groups of stakeholders: the 1inch Foundation, the 1inch core contributors, and the 1inch DAO. Voting on the DAO is through the 1INCH token, a governance token, that was initially distributed to the community of 1inch Network users in late 2020. The 1inch DAO has control, among others, over liquidity protocol instant governance; aggregation protocol instant governance; 1INCH token; 1inch Network revenue stream; and 1inch Network DAO Treasury.

membersURI (uses Boardroon’s API): https://services.daostar.org/api/v1/boardroom/members/1/1inch

proposalsURI (uses Snapshot API): https://services.daostar.org/api/v1/snapshot/proposals/1inch.eth

Here is a sample daoURI based on the above suggestions: https://snapshot.4everland.link/ipfs/QmQMFqk15EPz4ot5vR8RW3K24t14fb4Aj9G1pujwnoBYXA

DAOstar can help customize any of the subURIs or add any additional data that the 1inch community may be interested in including in its daoURI. We specifically invite comments and feedback from the broader community on this. The DAOstar register page provides a simple interface to generate a daoURI. daoURIs hence generated are automatically stored to IPFS.

Execution

If passed, 1inch DAO will execute the following call to the EIP-4824 Registration Factory (0x2Dac5DBbF1D024c1E0D9c92D3AeDa7618e15aDd7) on Ethereum Mainnet to complete the registration, setting the 1inch DAO treasury multi-sig contract as its admin:

Call EIP4824RegistrationSummoner.summonRegistration(salt, daoURI, manager, contracts, data)

New clones are deployed to predictable addresses using the message sender and a bytes32 value combined as a salt.

During registration, an additional manager can be set, possibly delegating the responsibility to a working group within the DAO or DAOstar. Setting a manager ensures that daoURI updates do not need to go through governance every single time. It can also be left blank (set to 0x0000000000000000000000000000000000000000) and managers can be added/removed later as needed. Managers can update daoURIs but do not have permission to add new managers or admins. We foresee daoURI updates to be infrequent.

To set more than one manager or admins (for example, the DAO treasury and a DAO working group as admins, and DAOstar as a manager), the DAO needs to make an additional transaction after the registration contract is deployed.

Roles & Access Control

Upon deployment, the registration contract is initialized with a DAO address and an optional manager address. The DAO address should be the contract that can execute arbitrary onchain transactions as instructed by the DAO members through the governance process. For 1inch DAO, this is the DAO treasury multi-sig on mainnet at 0x7951c7ef839e26F63DA87a42C9a87986507f1c07.

Admin role is granted to the DAO address on initialization. This role allows the address to grant and revoke roles.

An additional Manager is set by the initialization function. This role allows the address to update the DAO URI but not to modify roles.

Simulation Results

Given a salt of 0x9729472110010000000000000000000000000000000000000000000000000000 and a msg.sender of the 1inch DAO treasury multi-sig (eth:0x7951c7ef839e26F63DA87a42C9a87986507f1c07), the registration contract is deployed to 0xea38b005a0b1fdd4293d98c99c26593e81bbfbd1

As additional references, please refer to:

1. EIP-4824 adoption by ShapeShift DAO using SafeSnap.

2. EIP-4824 adoption by Unlock DAO using Tally/Governor.

Rationale

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Information regarding the proposal rationale can be seen in the original forum post. It was pruned from this proposal to stay within the Snapshot 10,000 character limit.

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Considerations and Summary

In summary, this is an extremely low-risk proposal that’ll take us one step closer to true interoperability within the DAO ecosystem. This proposal does not involve any transfer of funds or changes to 1inch’s smart contracts. It also does not require additional expenditure of resources from 1inch DAO. DAOstar stands to provide all assistance necessary to smoothen the adoption of EIP-4824.

Given the importance of standards and the improvements they bring to the web3 ecosystem, we urge everyone to provide their feedback on this proposal.