FireDAO Ecosystem

Introduction

The write-up highlights the publication of a paper titled "Decentralized Society: Finding Web3's Soul" by Vitalik Buterin, E. Glen Weyl, and Puja Ohlhaver, which had a significant impact on the global crypto world. Inspired by this paper, the RainbowCity Foundation decided to launch FireDAO, aiming to conduct a social experiment in exploring the Web3 Soul and the Bit Civilization. The paper discusses the need for a native Web3 social identity system to address issues such as wealth concentration and governance vulnerability. They introduce the concept of "Soulbound Tokens" (SBTs) held by accounts or wallets called "souls" as a means to represent commitments, credentials, and membership relationships. FireDAO is built on the Arbitrum One chain and serves as a social DAO organization based on PID and FID Soulbound accounts. It acts as a community-driven on-chain autonomous economy and a Web3-native DID identity protocol. The authors express gratitude to thought leaders like Vitalik Buterin, E. Glen Weyl, and Puja Ohlhaver for their insights.

Vision

In ancient times, humans endured long periods of darkness and suffering. Prometheus, moved by their plight, stole fire from the sun god Apollo to bring warmth and light to humanity. As punishment, Prometheus was chained to a mountain, enduring various hardships. The stolen fire brought light and warmth to humanity, similar to the creation of light in the Book of Genesis and the convergence of rainbow colors. In 2009, Satoshi Nakamoto created Bitcoin, igniting a new civilization built on mathematics and algorithms. This "Bit Civilization" is distinct from previous civilizations and is explored in the Web3 realm. Bitcoin is compared to Prometheus' stolen fire, bringing new light to human civilization. The Web3 world and DAO organizations represent the essence of this "Bit Civilization" and will shape future human civilization. The FireDAO is introduced as a means to sustain and fuel this evolving civilization. Participants in the FireDAO ecosystem are called "Rainbow Warriors" embodying the spirit of Satoshi Nakamoto and Bitcoin.

Mission Of FireDAO

FireDAO believes in a future "Bit Civilization" built on mathematics and algorithms, with Bitcoin serving as the catalyst. The Web3 realm and DAO organizations are considered integral to this civilization. To sustain and grow this civilization, a constant supply of fuel is needed, which is the purpose of FireDAO. The goal is to ignite the "spark" of the "Bit Civilization" and pass on wisdom through this social experiment. The vision is to establish a global DAO collaborative system that transcends boundaries and creates an on-chain super economy. The core principles of openness, fairness, decentralization, and transparency guide the creation of FireDAO and aim to set a model for global DAO organizations.

Expansion Of FireDAO Ecosystem

FireDAO is an autonomous social organization known as a DAO, driven by the concepts of PID and FID Soulbound accounts. Its primary objective is to establish a community-led on-chain economy. By utilizing various types of SBTs and calculating an "on-chain reputation" score, FireDAO aims to create a native Web3 on-chain DID identity protocol with the Soul Account at its core. In the initial phase of expanding the FireDAO ecosystem, the primary focus is to construct a comprehensive Web3 on-chain DID identity system. The goal is to rapidly reach 100,000 minted PIDs and 10,000 minted FIDs, positioning FireDAO as one of the most influential global DAO communities. As the number of PIDs and FIDs continues to increase, the Web3 identity protocol will serve as the fundamental infrastructure for the entire Web3 world. This protocol can be seamlessly integrated by any crypto project, within or outside the FireDAO ecosystem, facilitating transparent and open interactions among community members and various Web3 products. These efforts align with the scenarios outlined in the research paper authored by Vitalik Buterin and others.

How To Join

Users can obtain a FirePassport and a PID through the registration contract, granting them basic participation rights in the ecosystem. By minting a PID, users also gain access to the FireDAO forum for discussions and contribution to the global social system. To prevent spam accounts, a small ETH registration fee is charged for each PID. FireSeeds are passed on within the Web3 encrypted community, and possessing a FireSeed allows users to mint a FireSoul account and generate an FID (Fire Identity). This makes them a full participant as a Rainbow Warrior in FireDAO. The FireSoul account serves as the Soul Account for official DAO members, stored as an ERC721 token that cannot be transferred. It contains different SBTs that reflect the member's community behavior and contributions.

Community Governance

FireDAO is an autonomous economy driven by community participation and ownership. Each community member has a sense of ownership and participates in collective decision-making through referendum voting. The governance token, FDT, grants ownership rights within the FireDAO community. Unlike traditional DAOs, FireDAO's governance activities revolve around the FireSoul Account. The community will establish a community governance DAO as the highest governing body. Each official member holds a Soul Account and is assigned an FID, which represents their "on-chain reputation" (FRT). The number of FRT determines voting rights for community governance. Members without an FID have limited rights within the FireDAO ecosystem. Initially, RainbowCity Foundation governs the FireDAO community in a centralized manner, but an interim management team is formed for global community governance. As FireDAO's development progresses, authority will gradually transition to the community governance DAO, enabling decentralized governance through community referendums.

Introduction Tokenomics

This introduces the tokenomics model of FireDAO, which follows a "3+2+7+1+X" structure. In the early stages, more than 10 different tokens will be utilized to support and expand the on-chain economy. Community behavior badges tailored to specific ecosystems will be established later on. FireDAO's goal is to become a self-sustaining, continually circulating, and growing on-chain super economy that embodies the essence of encryption. Additionally, FireDAO will serve as the native on-chain DID identity protocol for the entire Web3 world. The "3" in the model represents three ecosystem tokens: FireDAO Governance Token (FDT), FireDAO Incentive Token (FLM), and FireDAO Identity Token (FireSeed).

Roadmap

For More Information About the Project:

Website: http://www.firedao.co/

Twitter: https://twitter.com/FireDAOlab

Telegram: https://t.me/FireDAOEN

YouTube: https://www.youtube.com/@FireDAOlab

BTT Link: https://bitcointalk.org/index.php?action=profile;u=2247475

Author: abeexy