Nutbox -- The Operating System for Modern DAOs

# Nutbox -- The Operating System for Modern DAOs Nutbox provides out of the box functionalities of building a modern DAO in few minutes, for the emerging and growing Web 3.0 communities. ## 0. Background ### Modern DAOs The modern DAOs are not only for governance purpose. The modern DAOs are the DAOs of the people, by the people, for the people that are **not only commercially feasible, but also bring values to the entire world**. A modern DAO ecosystem that will not only survive but also thrive in the Web 3.0 age should have the below traits: 1. The Web is built as a gift for everyone, as its inventor Sir Tim Berners Lee said ["This is for everyone."](https://twitter.com/timberners_lee/status/228960085672599552?lang=en). In Web 3.0 age, to empower everyone to get back the ownership of the Web, we believe "**DAO is for everyone**". Everyone should be able to start a DAO in minutes with close to zero fees. 2. **DAOs should be able to bootstrap** with available supportive resources for its community, on top of underlying financial and technical foundation within the Web 3.0 ecosystem. 3. **A bunch of profitable, composable and sustainable services could be set up by the DAOs** to benefit the entire Web 3.0 ecosystem world and contribute to the public goods. As a result, DAOs would grow their own values, and bring long-term returns for its members who ever contribute to the DAOs. If the Web 3.0 ecosystem is the new soil, the modern DAOs are the flowers and fruits to be cultivated by the communities in the new age.  ### The Operating System for Modern DAOs The full power of the Web 3.0 ecosystem is not availale to everyone and communities, unless an **"operating system"** is built to make the Web 3.0 resources understandable and usable for its communities. Nutbox starts its journey of helping all the communities and people to benefit from Web 3.0 world, and is now growing into an operating system to make the underlying Web 3.0 resources fully accessible by the modern DAOs. 1. **Nutbox DAOs can be created by everyone with almost zero cost and in few minutes**. 2. **Nutbox DAOs are able to bootstrap with its DAO staking protocol**. 3. To make Nutbox DAOs sustainable, and grow together with the Web 3.0 ecosystem, **Nutbox DAOs are extensible, by installing a number of composable and profitable services**, for not only serving your communities, but also extending the value of the entire Web 3.0 ecosystem. ## 1. Nutbox Protocol **Nutbox Protocol** is the solution for launching, building and diversifying modern DAOs. ### 1.1. Introduction   DAO has been a popular concept in the Web 3.0 world from years ago, but it's hard to reach mainstream adoption due to the challenge of being difficult to understand, launch and scale. Nutbox Protocol resolves these problems by emerging and evolving as the Operaing System for Modern DAOs, with truly undestandble, usable, profitable and sustainable design for everyone. #### 1.1.1 DAO is for Everyone  DAO is a social layer of connecting and empowering people on the Web. To realize the vision of Web 3.0, Nutbox is born with its most important trait of building for everyone. This means every user, builder, creator, and entrepreneur will be able to launch and grow their DAO with Nutbox easily. To be more specific, Nutbox 1. To make it affordable for everyone to launch a DAO. Instead of asking your stakeholders to transfer their liquid funds with risks, Nutbox DAO allows staking to your DAO for producing economic value which requires minimum initial finanical cost. （Instead of DAO fundraising, Nutbox DAO allows participants support their DAO by staking profitable assets to the DAO.) 2. Conceptually understandable DAO concepts without complex economic and governance model at the beginning. Ideally Nutbox should hide the DAO and blockchain concepts, and only display the minimal interfaces for users to interact with whatever they want to call the organization, including "guild", "community", or "group". 3. Extremely easy-to-use UX to set up a DAO in 5 mins. By building with the modern PoS blockchains, and with an efficient cross chain communication infrastructure, Nutbox brings the familiar user experience as what they have used to in Web 2.0 age. To form strong social connections, Nutbox DAO also provides pluggable social modules for the community to set up the information and economic systems, such as [Proof of Brain](https://steem.com/steem-bluepaper.pdf) through which a ordinary user can received rewards by sharing valuable or funny posts and comments to the community, just like what we have published on Reddit or Medium. #### 1.1.2 Staking-based Bootstrap   **Staking**, as one way of earning rewards when staying control of your assets, has grown quickly in the past years. Based on the advantage of staking economy, Nutbox Protocol provides a built-in staking economy module that helps DAOs distribute **community tokens** (i.e. **cToken**) to its stakeholders and contributors. Anyone who has staked the tokens( such as DOT from Polkadot, or STEEM Power from Steem) to the Nutbox DAO account or specified target accounts, will receive rewards in the form of **cToken**. Also, any valid contribution to the DAO including development, content creation, etc. will be rewards by the DAO fund, or by the creator economy modules such as Proof of Brain. For instance, 1. By delegating STEEM Power to any DAO project in STEEM community, the delegators will receive liquid cToken rewards. 2. By voting the specified validator supported by the DAO in Polkadot commuinity with DOT, the voters will receive cToken as rewards. 3. By voting the specified parachain in Polkadot's Parachain Slot Auction with DOT, the voter will receive cToken as rewards. 4. By actively contributing to the DAO as content creator, the author will receive cToken as rewards via Proof of Brain economy. With the received staked tokens, the DAO could earn revenues in the form of native token theclients staked by their economy model. The revenues in native tokens will be used for cToken redemption for supporting its value in Dcentralized Exchanges. Following the decision of the DAO, the redempted cToken could be burnt or saved as DAO treasury fund for future usage.  The advantages of the staking model includes: 1. **Minimal Risk for Stakeholders**: Instead of sending funds into DAO directly, the staking economy approach is less risky for stakeholders. The delegators can revoke their staking any time they want. 2. **Easy to Bootstrap**: As long as the DAO and community could produce value with their efforts, the investor or community members could stake to the DAO, to help the DAO to launch with finanical rewards from the staking economy. Nutbox DAOs can also potentially support a mult-chain staking model that stakeholders from different PoS chains will all be able to receive the cToken. Besides, since the staked token is usually locked for a predefined period of time, to extend the value of the current staking economy, Nutbox Protocol also defines one correspoding tradable token (called **tToken**) for the staked token, such as tDOT for DOT as a extensible economy model. Please check out ***2.2 Nutbox Staking Economy*** section for more details about staking economy in Nutbox Protocol. #### 1.1.3 DAO Services and Plugins  The staking economy defines a pattern of bootstraping a financially feasible DAO by staking. In order to create long-term values for the DAO and cToken, the DAO should provide more values to its community and the Web 3.0 ecosystem in terms of DAO services which could be easily set up with built-in or community-built DAO plugins. The Nutbox open source plugin system, provides high flexibility and extensibility to fit into different Web 3.0 scenarios. The Nutbox DAOs could build their own services, as easy as installing Wordpress plugins into their DAOs. The plugins, mostly built in the form of Smart Contracts, and Pallets in Substrate framework. People can be installed and configured by the DAOs to launch their own services easily. The typical DApp plugins include DeFi, Proof of Brain, Social Tokens, NFTs, GameFi, Web 2.0 integratoin, and Public Goods, which we'll introduce in more details about how that works in the ***1.3 Nutbox In Action*** section. #### 1.1.4 DAO Governance  As long as the DAO is set up, everyone owns the cToken will automatically be able to join the DAO governance, and contribute to the decision making process of the DAO, by raising proposals, joining discussions, and voting. A typical example of payout proposal is as below: 1. The DAO contributor submit one payout proposal; 2. The DAO members discuss about the proposal to raise concern or questions, and provide feedback; 3. cToken (or cToken voting power token) holders vote (accept, reject or forfeit) on the proposal; 4. DAO Fund automatically distributes cToken to the receiver of the payout proposal once the proposal approved. One optional cToken voting power could be configured by the DAO members to mapping from liquid cToken (1 cToken represents 1 cToken Power) or cToken in the liquidity pool (1 cToken in the pool represents 2 cToken Power) , etc. ### 1.2. Nutbox Architecture In this section, we'll introduce how the architecture of Nutbox implements the design we described above.  #### 1.2.1 Infrastructure The three pillars of Nutbox's infrastructre are: 1. **Multi-Chain Proof of Stake Networks** (e.g. Polkadot, Steem, Hive, ) that make sure everyone could build the DAOs with high scalability, relatively low cost and great user experience 2. **Staking Economy** that help DAOs launch with feasible and sustainable business model, and low risks for stakeholders 3. **Social Layer** that enables decentralized social network that pay out the values to the content creators instead of the big platforms The underlying blockchain, economy and social infrastructure makes it possible to build a poweful modern DAO ecosystem on top of it. #### 1.2.2 Plugin System As the real-world scenarios of DAOs varies from each other, we intend to build a Nutbox plugin system that enables DAOs to install free or premium plugins to enable different features and capabilities, just like what Wordpress plugins have broght to its ecosystem. We're building the **Plugin Frameworks** with (1) WASM runtime for smart contract, (2) Substrate pallets for different functionalities such as Proof of Brain and Bridge, and working with (3) decentralized storage solutions for decentralized data and content hosting. The typical plugins include pallets for PoB, content, staking, staking factory, contract and bridge. Also, developers are encouraged to build open source plugins to enable more features and capabilities for DAOs. Nutbox will launch a Plugin Economy that rewards the plugin builders based on the usage of their plugins. ### 1.3. Nutbox In Action   In the Web 3.0 world, we're going to witness a wave of great innovations that never happened before. A sustainable cashflow that created by the wave will interact with DeFi, and will inject the true value into the whole blockchain world. We'll demonstrate the examples of DAOs that could be built in Web 3.0 era with the help of Nutbox. #### 1.3.1 A Staking DAO  In addition to the centralized existence of the Staking Providers, is it possible to build another staking world through a decentralized staking platform, like Uniswap does for centralized transactions?  Peanut is such a decentralized staking platform. Peanut is built on the Steem blockchain, which includes three parts: Crowd-Staking, DAO Services, and Governance. Crowd-staking uses a staking mechanism, which is similar to PoW, PoS, and liquidity mining, to start Peanut DAO. Governance enables Peanut to achieve decentralized community governance. DAO services such as Peanut curation program, and Peanut blog, etc., allows the community to provide valuable services to DAO members and a wider range of external users. Relying on these three modules, Peanut has become a sustainable staking DAO. #### 1.3.2 A Community-based DeFi DAO  The infrastructure layer of DeFi has been almost ready, but the integration of DeFi with Communities is still at its early stage. As more and more DeFi projects share the profits with the communities in its protocol, DAOs such as Peanut can create new DeFi services to serve community members and make DAOs to obtain sustainable benefits.  Lido, Stakr, Stafi, Bifrost, etc. are providing liquidity for Staking Token, and launch their Liquidity Staking Token. Staking-based & Community-based DeFi DAOs can provide users with "Staking + DeFi" services, and spread DeFi at a larger scale. #### 1.3.3 A PoB DAO  Proof of Brain (PoB for short) is a fascinating name that is used on the Steem blockchain to distribute rewards to content creators and curators. Based on PoB, people can vote the contents they like, which is weighted by the staked token they held. The PoB network will allocate new tokens to members who submit or curate contents for the communities. As a result, both creators and curators are rewarded. The PoB mechanism incentivizes community building and social interaction through cryptocurrency, provides everyone with an easy approach to join the community, and also realizes the monetization of content assets.  Steem is an excellent case in this field. It combines Staking with Proof of Brain to bring people a decentralized, user-owned social media. Modern DAOs with smart contracts, on the basis of Crowd-Staking and DAO Services, can further accelerate the circulation of content assets (through NFT, etc.), and build a micro-economy for creators. #### 1.3.4 A Social Token DAO  Social Token is an interesting type of crypto assets, which provides creators and entrepreneurs with a new path to tokenize their endeavors, so that this emerging category of asset will generate great economic value.  With the improvement of DeFi infrastructure, the micro-economy built on top of social token has been formed, and we have seen a new type of asset class coordinated and dominated by online communities. However, the biggest problem that Social Token DAO faces is how to bootstrap. In the initial stage of its creation, with limited participants and limited services, it is difficult for the micro-economy to reach the threshold and truly move on the track of sustainable development.  In Web3.0, creators use Crowd-Staking to start DAO in a manner similar to liquidity mining, distribute Social Token to tokenize the social capital, and use Governance to turn the community into an effective micro-economy. This will solve the biggest challenge faced by the next-generation Social Token DAO creation platform such as Rally, Tribaldex, Matataki, Socios and Mint.club. #### 1.3.5 A NFT DAO  The innovation of NFT is that it provides a way to mark the ownership of native digital assets (that is, assets that exist in the digital world or originate in the digital world), and this ownership can be stored outside of centralized services. It expands the types of assets on the chain, and provides the possibility of digitization for assets that could not be identified previously.  NFT has been developing rapidly in the past few years, but the value capture by NFT is still a huge problem faced by the whole industry. No matter what the NFT infrastructure, the casting protocol, the liquidity protocol, the DeFi+NFT, other protocol layers, or the NFT application layer, they are all solving the value capture problem of NFT. The NFT DAO created by Nutbox can use PoB mechanism voting and comments to evaluate the value of NFT, and rely on communities to capture the value of NFT. The diverse communities built on Nutbox will not only create a variety of value measurement scenarios for NFT, but also provides richer original digital contents (chain assets) for NFT minting.  From this point of view, PoB DAO and Social DAO based on Nutbox will be an important intermedia for NFT prevailing. DAOs similar to the application-based NFT platforms, such as Yup.io, Nity’s, showtime, Nafter, and only1, can be built on Nutbox. #### 1.3.6 A Game DAO  Axie Infinity makes GameFi well-known, and the "play and earn" crypto games bring a different online life experience to social media platform users. The core logic of GameFi is to provide users with rich consumption content, fair creation platform, reliable economic system, and immersive interactive experience, so users can conduct cultural, social, and entertainment activities on it.  Game DAO is essentially another type of PoB DAO, with content creation, community, and social interaction as its core modules. On Hive, a traditional PoB blockchain, the most widely spread games are Splinterlands, CryptoBrewMaster, Rabona and so on, which make good use of PoB and the community to help the game. Game DAO is also a place where Nutbox, the "Staking + PoB" blockchain, can help. #### 1.3.7 From Web 2.0 Community to DAO  The outbreak of DeFi has brought unprecedented vitality to the whole cryptocurrency market and even the blockchain technologies. The organic combination of "decentralization" and "finance" has allowed the market to experience the charm of the crypto world. However, the crypto world is still too small compared to the traditional Web 2.0. The question is, how to bring the majorities enter the world of Web 3.0 faster?  In order to bridge the gap between the crtyp world and Internet products, a middleware which can seamlessly migrate applications from Web 2.0 to Web 3.0 plays an indispensable role. In 2019, the Nutbox team built the Steem for Wordpress plugin to help wordpress bloggers and Wechat Mini-program creators seamlessly enter the world of encryption. There are many such tools. Share2Steem on Steem allows content on social media such as twitter and instagram to be posted to the Steem blockchain with single click. Mask Network and Fortmatic are also building something similar.  One of the core goals of Nutbox DAO Services and Plugins is to allow Internet applications such as Wordpress, Wechat Mini-program, Twitter, Discord, Telegram, Weibo, Douban, etc. to seamlessly enter the world of Web3.0, and to create a frictionless entry for Web 2.0 users to enter Web 3.0 world. #### 1.3.8 Public Goods The modern DAOs is not only built for the interest its councils and members, but also to help contribute to the public goods of the world such as open source, and open science. One good example of that is the STEMSocial projects launched on Steem / Hive, which aims at rewarding whoever shares valuable STEM (science, technology, engineering, mathematics) knowledge and experience to a borader community. The community not only rewards high quality and original thoughts about science and engineering, but also bring new ideas to the world from best practice by engineers, to latest academic research achievements in quantum physics. Nutbox eventually makes such DAOs to be launched easily with the help of staking and social infrastructure. Besides, Nutbox will also help open source communities on GitHub to kick off their own DAOs to reward the open source contributors, and grow a sustainable open source economy around the world. Comparing to Gitcoin, Nutbox DAOs will be more helpul for measuring and incentivizing the open source contribution via staking and PoB.  ### 1.4. Development Roadmap The implementation of Nutbox is not an easy journey, and it will be divided into three phases（Peanut, Walnut, Donut）, which will respectively fit with different types of Modern DAO and different degrees of scalability. At present, Peanut, the prototype of the staking DAO, has been implemented, Walnut is about to be launched, and Donut is under development. #### 1.4.1 Several different phases  1. Since October 2020, Nutbox has constructed our first DAO Nutbox-Peanut network on the Steem blockchain. It is the minimium prototype of Morden DAO, which contains Crowd-Staking, DAO-service(blogs), and governance modules.  2. Nutbox Walnut network is about to launch. Through a series of smart contracts, it helps anyone to create a staking DAO as simple as to create a trade-pair on Uniswap. Nutbox Walnut Network will support Steem and Polkadot first, it will also support other blockchain in the future.  3. Nutbox Donut network is built using the Substrate framework and is a smart contract platform based on staking and content.Donut network expands the creation type of Modern DAO, to help anyone to create any kind of Modern DAO no code, un-manual, and permissionless. #### 1.4.2 Minimal Modern DAO  Nutbox Peanut network is the first Morden DAO created by Nutbox. Peanut fulfills the decentralized community governance. TVL of Peanut reaches 8M STEEM POWER and the capitalization of the cToken (PNUT) has exceeded 2M USD already. Peanut is created with the following three modules: ![](https://i.imgur.com/z23if9r.png) - Crowd-Staking：In the Peanut community, STEEM POWER (SP for short) holders delegate the SP to the Peanut community and obtain PNUT. Peanut.mine obtains the staking reward from the proxy user SP. In return, Peanut repurchases PNUT on the decentralized exchange, and injects the value into PNUT. - Governance: When the SP delegatees obtain PNUT, 10% of PNUT will be atomatically distributed to Peanut DAO.Fund. Community contributors can submit Proposals to DAO.Fund through the Peanut Proposal System and apply for PNUT rewards. - DAO Services: Community contributors, with the support of Peanut DAO.Fund, have been developing various services and applications for Peanut, and providing services for community members or other users. With the deployment of various services, Peanut obtains continuously growing income, and this part of the income will automatically be controlled by the Peanut.mine account to repurchase PNUT. ## 2. Nutbox Economy Nutbox will have a native token called **NUT**, which is designed to promote the development of various protocols and DAOs in the Nutbox ecosystem. ### 2.1 Token Distribution The Total amount of NUT is 1,000,000,000.The whole NUT will be allocated into five categories as the following chart when the Nutbox mainnet (Donut) is launched. ![](https://i.imgur.com/YexkKDk.png) According to the resources demand of Nutbox, NUT will be issued in two separate ways: 1）45% tokens will be allocated to the institutions, the founder team, the slot-auction fund, and the committee fund. They will be released when various requirements are met. 2）55% of NUTs will be distributed to the ecosystem part, they will be minted and distributed to different pools block by block. 1）Founder team：Nutbox is created by a great team in the Augest 2020. At the initial stage, the team is the backbone of Nutbox project. It is a long-term-oriented, self-driven team with innovation spirit. 20% of their token will be unlocked in 3 months after NUT is launched, the rest will be released in the next 4 years. 2）Institutions：In the beginning, Nutbox’s operation, marketing, and developing tasks need economic resources, Nutbox will use the private token sales to achieve fundraising, as well as to improve our connection to other social resources. This part of token will be locked until some requirements are met. 3）Committee.Fund：The fund.committee is an incubator fund that is used to promote the ecosystem of Nutbox before the DAO matures. 4）Slot-Auction Fund：Since Nutbox is going to connect to Polkadot as its parachain, the Slot-Auction fund is used to reserve tokens for the slot auction of Polkadot. When Nutbox mainnet is online, the rest 55% of NUT can be mined block by block. Their allocation is shown in the following chart: ![](https://i.imgur.com/scIzRqY.png) 1）Collator Reward：As a substrate based chain, the record of transaction needs collators； 2）DAO.Fund：DAO fund is used to incubate projects related to the Nutbox community by proposal system; 3）Community&Services reward：Incentive services and components created on Nutbox, it will support the whole communities and Nutbox project constructions. 4）Content reward：The content system, which incentive system is derived from Steem's PoB, rewards the contents production, curation and social interactions. ### 2.2 Nutbox Staking Economy When NUT is staked on the blockchain, the user will receive NUT POWER(NP). One NUT can be converted to NP instantly. Holding NP will endow their holder governance right, content voting right, and capital income right. However, it will take 28 days to convert NP to NUT. Nutbox operates on the basis of one-NUT, one-vote. In this model, individual with more NP account balance，has more influence over the Nutbox network contribution judgment. In this way, members have a financial incentive to vote in a way that maximizes the long term value of their NUT. #### 2.2.1 Validator & Collator Rewards As a blockchain, Nutbox needs a group of validators (solo chain) or collators (parachain for Polkadot) to provide high quality and large scale services. NP holders own the right to vote who will be selected as validator or collator. In return, validators and collators will share their income (10% of total NUTs) with their supporters. #### 2.2.2 DAO.Fund DAO.fund is used to incentivize community members to participate in community construction, which is under the control of Nutbox proposal system. Only when the proposal is approved, the contribution rewards will be granted. #### 2.2.3 Community & Services reward Community & Services reward is a incentive mechanism focus on Nutbox eco-community and service developer. Every DApp service may have an operator account. NP holders as nominators can join in the vote process to the DApps, For every DApps, Nutbox will calculate a weight parameter: $$\sqrt{NP}(\alpha+\beta f(cToken)+\gamma g(tToken)+ \theta h(rank_{DApp}))$$ In the formula, NP is the sum amount of NP votes to the DAp $f(cToken)$ equals 1 if the community have distributed their community token, otherwise equals 0. $g(tToken)$ is the standardization of community tToken amount: $$ g(tToken_i) = { tToken_{i} \over \max_{j=1...n}(tToken_{j})}$$ $h(rank_{DApp}))$ is the negative logarithm of popularity rank of DApps created by the community. $\alpha,\beta,\gamma,\theta$ is the parameters can be altered by DAO proposal system or DAO.committee (if NUT is not launced). Moreover, operator account is able to set a commission ratio to share the reward with participants. It will encourage much more developers, communities, users to participate in Nutbox ecosystem. #### 2.2.4 Content Rewards Part of NUT will allocate to community members who produce public contents and join social interactions. As long as the contents upvoted by NP holders, both the creator and curator (people who hold the NP and upvote the content) will be rewarded by NUTs. The more NP held, the more weight will be gain. Furthermore, the reward of the content will be shared between the creator(75%) and the curator(25%). meanwhile, as a service developer, if creator use their client interface to broadcast the contents, the developer will share 5%-20% of return. ### 2.3 Value Capture NUT seize the value created by Nutbox in Four ways: 1）Exchange Intermedia: As a exchange Interrmedia, Nutbox can connect to every DAO's application scenario. In some of them, only NUT is allowed as a sort of exchange intermedia. 2）Resource Fee: On the Nutbox network, behavior such as the transaction, staking or unstaking, need to pay NUTs as a commission. 90% of them will be burnt immediately, the rest will flow into DAO.fund. 3）Resource Credits: Users will gain Resource Credits(RC) when staking NUT. RC is the resource to broadcast contents, upvotes, or send message. 4）Governance: NUTs are used as voting power, to let NUT long-term holders express their opinion in governance decisions via referenda. NP holders have the right to choose committee members, to decide the DAO.Fund allocation, to judge the contributions of Community and DApps. ## 3. Nutbox Governance Our governance experience on Peanut and other blockchain practices have been proved that a pure decentralized governance faces some problems：the governance participation is always low and staking behavior is not optimal. Nutbox build a decentralized governance engine (DAO.fundation) and a representative governance engine (DAO.committee) to balance the pro and con. ### 3.1 DAO.Fundation DAO.Fundation is controled by NP holders, which is also the final authority source of Nutbox. DAO.Fundation has the ownership of DAO.fund, can pay the various costs and expenses of Nutbox ecosystem development with the NUTs in DAO.fund through the Nutbox Proposal System. ### 3.2 DAO.committee Since DAO.Foudation is a decentralized governance, which means efficieny is always questioned. In order to adapt to the changing environment and support community contributors better, daily affairs will be handled by DAO.committee. DAO.committee member are voted by NUT POWER holders. Once the members of the committee are elected, they serve a one-year term and are subject to community supervision. DAO.committee will hand over all rights and interests to DAO.Fundation at the right time to realize Nutbox's complete decentralized governance. But before that, DAO.committee makes decisions on behalf of the community and controls the use of Committee.Fund, but significant decisions still need to be submitted to DAO.Fundation for processing. ### 3.3 Nutbox Proposal System Nutbox started community governance in a decentralized manner through the Peanut Proposal System from the Peanut phase. Nutbox will inherit this tested solution. This allows NUT POWER holders to control the agreement, and the agreement and financial management can only be updated with the approval of the NUT POWER holder. #### 3.3.1 Process The governance process starts with the submission of a proposal, and the community can discuss the proposal. Any individual or organization that meets the requirements can submit a proposal. Holders of NUT POWER can vote on the proposal after full discussion. If the proposal snapshot is passed and can be directly executed through the standard contract, the approved action will be executed immedietely. If code deployment is required, after the code is developed, it will be deployed after auditing and re-governance voting. #### 3.3.2 Prerequisite Before submiting the proposal, the user must stake 1000 NUT to the DAO.committee, and the 1000 NUT will be refunded after the proposal passes the preliminary review. The transfer amount will not be refunded if it does not meet the basic requirements. VOTING POWER can be set according to the situation: 1) Each pledged NUT is equivalent to 1 VOTING POWER; 2) Each NUT in the NUT-ETH pool or NUT-DOT pool is equivalent to 2 VOTING POWER; 3) Indicators determined by other communities . Threshold of proposal approval: (consent vote minus veto vote)/(all candidate vote)>30%. ## 4. Timeline * 2020.08-2020.12：A staking DAO based on Steem and Tron blockchains —— Nutbox.peanut network goes online * 2021 Q1：Support for Nutbox.peanut network，and Nutbox Slot Auction launches Polkadot ecological testnet Rococo * 2021 Q2：Nutbox Slot Auction launches Kusama chain，Supporting parachain slot auctions * 2021 Q3：Nutbox Walnut Network goes online * 2021 Q4：Nutbox Walnut Network support parachain like Crust,Phala and Astar * 2022 Q1：Nutbox Donut Network pre-test goes online * 2022 Q2：Nutbox Donut Network goes online，and participate in the polkadot parachain slot auction * 2022 -：Nutbox Donut Network supports more PoS Chain Community to build Modern DAO ## Reference 1. Coopahtroopa, [DAO Landscape](https://coopahtroopa.mirror.xyz/_EDyn4cs9tDoOxNGZLfKL7JjLo5rGkkEfRa_a-6VEWw), June 25th, 2021 2. Linda Xie, [A Beginner’s Guide to DAOs](https://linda.mirror.xyz/Vh8K4leCGEO06_qSGx-vS5lvgUqhqkCz9ut81WwCP2o), March 13th, 2021 3. Nutbox Team, [Intro to Nutbox](https://www.yuque.com/guazi-v0ora/gpx7db), July, 2021 4. Nutbox Team, Nutbox Whitepaper [v0.3.2](https://shimo.im/docs/vTPcHyrjQh9Jtr88) / [v0.3.3](https://shimo.im/docs/ZA7E7kiAquwxiuS4) / [v0.3.4](https://shimo.im/docs/XD6y8HpkDVrtXHR9), July, 2021 5. Wordpress, [Wordpress on GitHub](https://github.com/WordPress) 6. Vitalk Buterin, Bootstrapping a decentralized autonomous corporation ([part 1](https://bitcoinmagazine.com/technical/bootstrapping-a-decentralized-autonomous-corporation-part-i-1379644274) / [part 2](https://bitcoinmagazine.com/technical/bootstrapping-an-autonomous-decentralized-corporation-part-2-interacting-with-the-world-1379808279) / [part 3](https://bitcoinmagazine.com/technical/bootstrapping-a-decentralized-autonomous-corporation-part-3-identity-corp-1380073003) )