Idavoll Network: We are committed to building a transparent and fair platform
Andy: Good evening everyone, I am Andy, serving as the host of this ZBG Dialogue column.
Andy: The decentralized autonomous organization DAO was born in 2016 and has been off the radar for a long time due to its over-the-top concept. However, the development and experimentation in this area has never stopped; the trend of DAO support is becoming more and more obvious in 2019; the success of Aragon in 2020 ignites the unprecedented potential of DAO, and the DAO track will welcome more and more institutions and users to join.
Andy: Today we will talk to Idavoll Network, the Polkadot Ecosystem-DAO project known as “Polkadot Aragon” in the industry, and how it is driving the DAO track. In short, let’s welcome Idavoll Network co-founder — Alina!
Andy: Hi, could you please give a brief introduction of yourself?
Alina: Hello everyone, my name is Alina. I have once worked as a top-tier strategy consulting at McKinsey, Zurich. In blockchain, I built UniDAO — An Asset Management DAO on Aragon platform, also the first DAO for DeFi management. Afterwards, I joined Equilibrium to start my Polkadot Ecosystem career. In 2020, i founded Idavoll Network to bring the ideas of DAO into Polkadot ecosystem.
Andy: What is Idavoll Network?
Alina: Idavoll Network — is a DAO management platform providing infrastructure and services within the Polkadot ecosystem. It is based on the substrate development framework, which has a modular structure allowing the permitted addresses (users) to create and manage various foundations built on any blockchain.
Andy: What is the function of Idavoll network？
Alina: Alright, any DeFi project on Ethereum will be able to run its heavy governance process on the Idavoll Network (because of scalability issues governance will be expensive and slow on Ethereum) through the Polkadot bridge chain, the DAO. The results of its governance on Idavoll will be executed on Ethereum, enabling various projects to complete decentralized DAO management at very low cost. In a different use case, the Idavoll Network can serve off- chain foundations, combining off-chain data with on-chain rules to complete the governance process.
Andy: What is the governance mechanism of Idavoll?
Alina: When Idavoll Network was launched, it adopted a democratic way to determine token issuance, fund distribution, and network rules. At the same time, Idavoll Network will also adopt on-chain DAO governance, and Idavoll Network will be the first DAO on the chain. This means that through the proposal and voting system, Idavoll Network is deployed on the basis of the on-chain governance mechanism, and the mechanism itself is upgraded by establishing proposals
Andy: Please give us a brief introduce about Idavoll Network Parachain
Alina: Idavoll Network is a Polkadot ecological parachain based on the substrate2.0 development framework. In terms of function, the Idavoll Network is compatible with the account, balance, babe, grandpa, staking and other pallets of the substrate, and shares and ensures the high performance, stability and security of the Idavoll Network. At the same time, the Idavoll Network provides the basic pallet of DAO and provides various foundations. The flexible composition template of pallet to build professional DAO organizations with different attributes. The Idavoll Network also combines the functions of substrate’s offchain worker to provide off-chain data integration, combining off-chain data with on-chain rules to complete the governance process.
Andy: What are the rules for token distribution?
Alina: Idavoll Network is going to issue 2 billion IDV tokens enabling democratic, audible and transparent fund distribution and network rules — for the first time in the cross-blockchain universe.
Token issuance is to pay network operators, that is, verification nodes and ecological operation and maintainers. This includes investments and partners owning 500,000,000 IDV (25%). The ecological incentive has 400,000,000 IDV (20%), which is used for community development, airdrops and subsequent card slot auctions and other activities that are conducive to ecological development. The foundation reserve has 300,000,000 IDV (15%) for the daily operations of the foundation. The team has 300,000,000 IDV (15%), and the team part will be linearly unlocked quarterly within three years after the mainnet launch. Mining includes 500,000,000 IDV (25%), mining is divided into two parts, of which 300,000,000 IDV (15%) is used for governance rewards, as well as participation in proposals and governance rewards; the remaining 200,000,000 IDV (10%) is used for block rewards, participation Rewards for PoS consensus block production.
Andy: Are there any new updates to Idavoll Network in general?
Alina: We have developed a partnership with Trustbase and Shadows Network, which are two other Polkadot Ecosystem projects. Idavoll Network will integrate its DAO community governance modules to the two big interconnected ecosystems of both Trustbase and Shadows. In addition, idavol (IDV) has been connected to the Rococo V1 network of Polkadot as a Parachain.
Andy: What is the future development direction of Idavoll Network?
Alina: At present, we are already in one of the top cryptocurrency exchanges Gate.io listed and subsequently listed on the ZBG exchange. Idavoll Network has also partnered with Ginkgo Bank, one of Korea’s first official corporate group established for the purpose of cryptocurrency exchange.Also, we are currently working on the listing procedure for some big exchanges. We will also start creating liquidity for IDV/USDT trading pair on Uniswap.
The future development direction of Idavoll Network will not only serve various encryption institutions (for example, hedge funds organized in the form of DAO), but also serve real-world organizations (such as United Nations Children’s Fund ) and governments. The Idavoll network can provide services for off-chain foundations, combining off-chain data with on-chain rules to complete the governance process, and is committed to achieving a transparent and fair network platform.
Andy: Thank you Alina for coming to ZBG community and letting us know about Idavoll Network, I believe Idavoll will show its strongest strength on the DAO track, let’s witness Idavoll’s future together!
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ZBG Team
March 16, 2021
