NFT DAO bound with Token Bound Accounts

rage report for https://daohaus.club/

summary

MolochV3 style DAOs using NFT ownership as member criteria

Basically think of being able to interact with a DAO as a NFT, the NFT is the member account and the owner of the NFT can interact with the DAO just like if you were using a EOA or smart wallet. So imagine your favorite PFP as the actual member, if you transfer or sale the NFT, the membership goes to the new member.

This uses a new standard: ERC6551 (Token Bound Accounts), a bit of account abstraction magic that makes an NFT a smart wallet. Being a part of a standard means we may see support for the extra TBA features by markets and wallets in the future

POC demo

https://www.loom.com/share/371498f8d7254451a684d1d844aeca2d

Wires

notes:

• non transferable shares become transferable (but in chunks). Because they are non transferable they are bound to the DAO at least until ragequit.
• ragequit could automatically forward funds to the owner.
• although bound to the DAO with shares the smart wallet would still work like normal. (unless logic was added to prevent some actions)
• transferable shares - one interesting and potential problem with this is frontrunning transfers. if shares can be transferred right before a sale or something.

front end considerations

Current DAOhaus front end components are setup for EOA or Safe interactions. this would require a new model that probably displays the NFT image as the profile(although these NFTs could hold ens too). Also interacting with the DAO (proposal, voting, delegation, ragequit, etc) would require a wrapper to forwards calls through the proxy wallet. Wallet connect would probably work to route calls

contracts

any standard NFT works, even if it has already been deployed. In the POC a shaman mints a nft, registers it as a smart wallet and gets the new account address, then mints shares/loot to the new account.

potential usecases

• NFT launch - boot strap a DAO with a NFT launch, DAO rights transfer
• DAO roles - diffirentiate Roles, and special permissions in a DAO
• Extended membership Logic - ragequit vesting, power vesting, decay, yeild…
• Multi DAO profile - build a protocol polotician brand
• Games - Profile breeding for more dao power, meow

other trends

along with erc6551 gnosis is coming out with Mech which is a similar idea but using zodiac safe modules as the smart wallet

links

dev call https://drive.google.com/file/d/1sm7iF5msH-3FWMFkNqrNuo4Mj9rFIXYr/view?usp=drivesdk

tweet https://twitter.com/DekanBro/status/1656356662582845442?s=20