PhoenixDAO —Building the DAO: Development Update
Hello community.
We’re close to hitting our biggest milestone to-date!
Even before the launch of PhoenixDAO back in May 2020, the core team had been setting out ambitious goals to launch a custom developed DAO platform set to put PhoenixDAO at the forefront of innovation.
An in-depth look into the DAO can be found in our earlier article First Look: Building the DAO.
Our end game is to become a leading, fully decentralized organisation within two years from launch and we’re on course to achieve this but as the saying goes ‘Rome wasn’t built in a day’.
It is paramount that the DAO platform is well architected and built to be secure and sustainable for many years to come given, how pivotal it will be within the ecosystem. To ensure that no mistakes are made, we are launching the DAO in phases. This also allows you, our community, the chance to start participating in the future of PhoenixDAO sooner rather than later.
Phase 1 is set to be fully functional, however, Phase 1 will see the Core foundation team holding the keys and therefore the DAO will not yet be at the ‘fully decentralized’ status, one step at a time. We have a number of strategic reasons for taking this approach which ultimately benefit you and the project;
- Bad actor prevention
- Smart contract refinement
- Auditing
- Load testing
When building state-of-the-art innovative solutions, going too quickly can have major repercussions. Blockchain is still a relatively new technology and building a DAO platform in this space takes the “level of innovation” to new heights.
DAO Development update — Phase 1 build
Stage 1
Smart contract Development: 100% Complete
- Architecture design
- Submit proposal functionality in DAO contract
- Deposit ALT functionality in DAO contract
- Change proposal status functionality in DAO contract
- Issue funds functionality in DAO contract
- Withdraw funds functionality in DAO contract
- Withdraw collateral functionality in DAO contract
Back-end Development: 90% Complete
- Architecture design
- Database design
- API breakdown and documentation
- Development
Front-end Development: 80% Complete
- 80% of front end development was completed at the outset, during the API integration with the front end, our development team started fixing up a few bugs with the responsiveness of the dApp to enable users the ability to use the dApp on any device.
Stage 2
Integration Of Front-end And Back-end: 80% Complete
- API integration and testing
- UI refinements
Stage 3
Contract and API integrations: 60% Complete
Phoenix DAO ADMIN keys: 80% Complete
Our vision and goal, whilst extremely ambitious from the outset, was to launch the PhoenixDAO project and bring phase 1 of the DAO platform to our community within a single year…tireless hard work, amazing teams and the fantastic efforts of our community mean that our ambitions are becoming a reality!
“When”…at this point we are not going to be releasing any specifics on dates however, what we can tell you all is that October is where we hit our initial development milestone, and when the Phoenix DAO platform will begin internal testing!
Let the fun begin!
