INK Finance Sprint 2

In our previous demo, we have shown how the representative of an organization can construct a bare-bone Genesis DAO from the scratch, either with their own governance token or with INK’s platform token QUILL. This DAO comes with a default Proposing Committee.

In our second preview,w we show how a user can browse through the list of DAOs running on the INK platform, what the Committees look like, and all the open proposals posted by these DAOs to be voted on. In this demo, a legit Member of a Proposing Committee can make a Proposal to govern Off-domain business (things that are out of the reach of INK).

Try the Sprint 2 Demo:

https://betaapp.inkfinance.xyz/#

It is important to know that Ink Finance is designated for financial governance, therefore in this demo, we are showing how a DAO can make proposals with numeric features. When our Products Module is completed, you shall see that many quantitative elements of a Financial Proposal can be constructed, such as the percentage holdings of an ETF, liquidation threshold of collateralized debt, and so on and so forth.

In our next demo, we will show how the community can vote on their DAO’s proposals. When the public rejects a proposal, they have a chance to object to any specific quantitative measures (too high or too low), so that the DAO will have a clear indication of how to modify the next proposal.

For an on-domain proposal, once the public vote is passed, INK smart contracts will take over and automatically execute the passed Resolution. For example, if the Resolution is to adopt an off-chain asset as eligible collateral, this DAO’s internal Procedural Contract will trigger events for the Risk Committee and Audit Committee to set in motion, producing detailed quantitative elements for further voting. This process eventually will lead to an off-chain asset being secured and under the DAO’s custody. Then the financialization will take place, resulting in the issuance of one or more on-chain Non-fungible Financial Products, which can be rights-backed tokens, collateralized debt, or funds.

Stay tuned for our continuous update on the progress of Ink Finance.

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