Idavoll Network: Bringing Back Decentralization to the DAO on Polkadot Ecosystem
Why is it interesting?
Well, there is a reason why Idavoll is named after a magical valley, which Scandinavian gods used to take meetings and sign deals (probably). It is the first and only cross-chain DAO (decentralized autonomous organization) protocol, where different blockchain ecosystems composed of users, tokens and dApps (decentralized applications) can meet and interact with each. Idavoll solves the problem of interoperabiltiy and also provides the framework for real-life organizations on the blockchain to solve disputes and act as governing bodies.
This is the essence of Idavoll DAO enabling its members to set up resource allocation rules, build consensus and voting mechanisms, etc., all organized with a unified smart contracts logic. As ancient gods used to divide their responsibilities to better rule the universe, organizations working on Idavoll protocol (companies, open source projects, NGOs, foundations, hedge funds…) will be able to delegate decisions to its members, control their activities and rule our disputes, while staying completely on the decentralized chain. It’s a self-sufficient universe, where each organization can renew itself and maintain its identity forever.
So 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. For example, 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.
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.Stay tuned for the Polkadot mainnet launch in Q2, 2021!