SpiderDAO Supported by Polkadot to Build World’s First Hardware DAO!
Dear Community,
We have been equally excited and humbled by the response to the SpiderDAO vision. Over the recent weeks, we have secured several strategic partnerships that, we believe, will meaningfully contribute to the development of our project.
We are particularly enthusiastic about the support from Polkadot and Kusama, Polkadot’s Canary Network. Building our ecosystem on top of the interoperable Polkadot parachain has many benefits, including security, speed, and scalability. We will also utilise the Kusama network to experiment with our technology and for testnet deployments.
Furthermore, the SpiderDAO development team is currently in the process of applying for the Substrate Builders Program. Substrate is an open-source framework that allows developers to build any blockchain, whether independent or connected to the Polkadot network. Participating in the program would give our team a headstart in developing the Polkadot parachain and the off-chain hardware elements of the SpiderDAO. It would also considerably speed up the development time while allowing us to take advantage of the Polkadot Network’s shared security. In return, the SpiderDAO team will be contributing to the Substrate Developer Hub by offering our hardware DAO as a hardware governance pallet helping expand the Substrate Ecosystem.
We are working on securing further strategic partnerships and bringing together an experienced group of investors who can add value to the project.
What we are working on
On the development front, the first service in the SpiderDAO ecosystem will be the SpiderVPN. It combines the hardware DAO concept with our existing VPN business, delivering a decentralised router-based VPN product for our users.
Secondly, token economics are an essential part of our project. Our native token, SPDR, will underpin the ecosystem and provide multi-layered utility. Those staking SPDR will be able to participate in the DAO and will also receive free access to the SpiderVPN. The liquidity mining program will commence following the Token Generation Event, distributing 60% of the SPDR supply to liquidity providers.
Token Utility Summary
SpiderDAO
SpiderDAO proposes a set of tools bringing privacy and security to today and tomorrow’s internet users.
To do so efficiently and sustainably, SpiderDAO’s team set a robust new standard for DAOs that will withstand the adversity that such a mission implies.
To mitigate the shortcomings of current DAO frameworks, SpiderDAO leverages a multi-layered governance setup based on hardware and software tools on top of a Fair & Resilient Hardware-based DAO built on Polkadot.
Polkadot
Polkadot will enable a completely decentralized web where users are in control.
Polkadot is built to connect private and consortium chains, public and permissionless networks, oracles, and future technologies that are yet to be created. Polkadot facilitates an internet where independent blockchains can exchange information and transactions in a trustless way via the Polkadot relay chain.
Polkadot makes it easier than ever to create and connect decentralized applications, services, and institutions. By empowering innovators to build better solutions, we seek to free society from its reliance on a broken web where its large institutions can’t violate our trust.
You can find more information about SpiderDAO on our website or by joining our community on Telegram. Also, head over to the Polkadot site to learn about the project and their innovative multi-chain network.
Thanks for reading and welcome to the SpiderDAO community!
