Soft DAO adopts smart contracts on 6 blockchains, tested by 22K+ users
Soft DAO, a global crypto community focused on supporting high-integrity protocols, has reached more than 22,000 users with contracts tested and supported on six blockchain networks.
Users of Soft DAO developed smart contracts can now launch their communities with sybil-resistance, DDOS protection, and transparent lock-ups.
The Problem
Web3 launches have long been subject to economic, sybil or DDOS attacks. In 2022, we saw several token distributions subject to these attacks, resulting in what community members may claim to be chaotic or unfair token distributions.
For example, Bored Ape Yacht Club’s Otherside Mint lacked surge protection. As demand surged in the launch, it resulted in Ethereum transaction fees costing thousands of dollars per transaction. This resulted in over $150M spent by community members on Ethereum transaction fees and resulted in the Ethereum blockchain becoming momentarily unusable.
Unfortunately, the Aptos airdrop also lacked proper controls. This distribution event lacked sybil-resistance protection; resulting in a single bad actor accumulating the majority of the funds and profiting more than $50 million — all the while crashing the price by more than 40% in one day.
More recently, the collapse of FTX has highlighted the need for transparent and fair lock-ups on-chain. The absence of transparent or fair the lock-ups of the FTX Token (FTT) tokens further enabled FTX to issue the token, covertly re-hypothecate the FTT token, and abscond with funds.
The Solutions
Projects launching token-based Web3 communities can now benefit from the following smart contract primitives supported by Soft DAO:
- Sybil Resistance — Soft DAO primitives enable sybil-resistance to prevent bots from acquiring outsized allocations as seen in the Aptos airdrop.
- Surge Protection — Soft DAO primitives feature a Fair Queue, designed to ensure that network fees stay within a reasonable range during high-demand token distribution events.
- Transparent Lock-ups — Soft DAO primitives allow for both time-based and price-based lockups as well on-chain voting while vesting. This help prevent re-hypothecation of assets and increases transparent lock-ups around projects.
For more information as well as the deployed smart contract addresses, please see https://github.com/SoftDAO/contracts.
Join Soft DAO
The Soft DAO’s mission is to support high-integrity protocols — such as the primitives already deployed for sybil-resistance, DDOS protection, and transparent lock-ups. Projects seeking to launch Web3 communities that fit with the Soft DAO’s mission are encouraged to learn more.
With more than 22K users and 50K Discord members, the growing community welcomes anyone looking to use or contribute to Soft DAO supported primitives.
Rebel Reasonably. Trust Code. Build. Do It Right.
Twitter: https://twitter.com/thesoftdao/
Discord: https://discord.gg/thesoftdao/
Github: https://github.com/softdao/
Forum: https://forum.thesoftdao.com/
Website: https://www.thesoftdao.com/
