When you first hear about DAO, you may think of a fundamental concept in the Chinese philosophy, and, philosophically speaking, that could be right ( 道 [dao]: “way,” “path,” or “course”), but, let’s revisit – through the prism of blockchain.
The main idea of a Decentralised Autonomous Organisation (or DAO) is to have a self-enforcing, open-source protocol that keeps the network safe by using blockchains and smart contracts, which are necessary to reduce transaction costs and help maintain a higher level of transparency.
Network tokens are the only connection between the members of a DAO. These members are not linked by any formal legal contracts. It’s the network’s code that protects the members and their funds. There are no two-sided agreements. The protocol or smart contract is the sole regulator of all the relationships between the users and the network.
DAO Growing Pains: New Problems Need New Solutions
But given the infancy of DAOs, significant vulnerabilities have been discovered in traditional governance systems, utilised by projects like Polkadot, Decred, and EOS, which threaten the integrity of the voting process. Specifically, the token-based voting utilised by traditional DAO models has been shown to be subject to attacks and takeover by plutocracies controlled by wealthy whales.
SpiderDAO seeks to solve this issue by introducing a dual-governance model that bundles hardware and software tools with on-chain and off-chain elements to create a “whale-resistant” governance solution. It provides a unique governance infrastructure layer for a hardware-enabled DAO and can be applied in a variety of use cases.
First, Spider will leverage its well-established presence in the hardware VPN market to create a fully self-governing decentralized VPN (dVPN) called SpiderVPN. A solution that will provide centralized VPN Services with DAO eligibility.
Following the integration of the dVPN, SpiderVPN will offer the ability to tunnel user bandwidth through a decentralised VPN Network. This introduces a whole new level of security to augment traditional VPN services, such as Network Monitoring, IP Filtering /Blocking, Kill Switch Control, Geo Filtering for Gamers, Deep Packet Inspection (DPI), and Ad Blocking techniques.
To reflect this close connection between DAO and dVPN, the economics of SpiderDAO have been carefully fine-tuned to allow token holders to participate on both Networks, allowing active users to partake in DAO governance while reaping rewards from multiple sources.
SpiderDAO – Fair and Resilient Hardware
SpiderDAO will be the main node of the network, building and maintaining the aforementioned services. The ecosystem leverages Hardware, Blockchain, Cryptography, and advanced Liquidity mechanisms to make it as robust and fair as possible. The three main elements, which are the SPDR Token, SpiderConnect Router and Spider DAO, come together to create an ecosystem that is geared towards the community and is built on solid foundations of fair governance.
SpiderDAO will first be integrated with SpiderVPN, which currently has more than 6,000 users in 18 countries, providing owners of the SpiderConnect Routers with access to a decentralized VPN service (dVPN) giving them full online anonymity.
The SpiderDAO network connects some other elements that complete an ecosystem:
- A self-maintaining and self-improving robust Hardware/Software Governance control mechanism;
- Multiple roles as a high-speed VPN tunnel, a DAO voting ticket, and a node in a fully autonomous decentralised VPN;
- A complimentary dVPN service for qualifying users;
- SPDR Token;
- SpiderMarket as a marketplace to buy and sell bandwidth for SPDR rewards;
- SpiderVault redistribution for future propositions;
- SpiderDashboard as a handy tool for monitoring the earnings inside the ecosystem.
SpiderVPN Is the Tool for a Decentralized and Secure Future
The Spider Virtual Private Network will be maintaining a secure and safe operation of the whole system. Military-grade encryption will be used for data transfer. The complete transparency of the code base will be available for full provability; distributed nodes across the globe, enabled by the community, will allow users to choose the optimal servers based on geographic data. SpiderConnect router features will also enable users to benefit from seamless connectivity and full protection from IP leakage, should a VPN fail, all at low prices.
More so, SpiderVPN users will be able to commercialise their bandwidth by reselling unused VPN bandwidth back to the community. The marketplace will be available as an add-on in the SpiderDashboard, which will provide an order book style model of available bandwidth. All transactions on the marketplace will be denominated in SPDR tokens, and participants will be able to perform transactions provided they are connected to the SpiderVPN with corresponding SpiderWallets. A small fee will be charged for all transactions occurring in the marketplace and collected funds will be assigned to SpiderVault for reallocation to community projects.
The team at SpiderDAO says that now users have an opportunity to earn real money while protecting their own data. They have recently started the SPDR Token distribution event, which will run over 12 weeks beginning this December. This Strategic Sale, with a cap of $2 million, will unlock 8.33% weekly. The total supply of 1 billion SPDR will be in circulation by the end of a 5-year period. A large part of the token supply will be released to the growing community at SpiderDAO.
The project has generated a lot of activity already: a 200,000 token Liquidity Pool on Polkastarter sold out within 20 seconds. Moreover, SpiderDAO’s SPDR Token was the first-ever project listed on the new and booming exchange, and it saw a 500% price increase on the first day of trading.
For more information, visit https://spiderdao.io/