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Cabal Protocol

The Cabal Protocol is a DAO that subsidizes hackers' trips to destination hackathons.

Cabal Protocol

Created At

ETHGlobal New York

Project Description

Cabal Labs is an organization of individuals who thrive in the tech industry and LOVE to hack! Our goal with the Cabal Protocol is to give any hacker the chance to hack at a destination hackathon in a Cabal Hacker House. We provides housing and subsidies towards trip expenses. The Cabal Protocol creates a secure treasury, governance, and member subsidizing system by using SAFE, Unlock, and Smart Contracts.

When a Verified Cabal Member (Unlock Credential NFT) is accepted to go on a trip, they mint a TRIP TICKET NFT that gives them access to a trip portal. They can then submit an expense report (flight tickets, trip expenses) which triggers the creation and proposal of a Safe transaction. The admins of the Safe Treasury can then confirm or deny the transaction that subsidizes the hacker for their expenses. The subsidies given to the hacker are calculated by their membership tier, available trip liquidity, and API's like Skyscanner for flight cost estimation.

Once the transaction is confirmed by the Safe threshold or more, the transaction can be executed. Upon execution, the subsidies will be sent to an escrow smart contract that will release the funds once the hacker sends at least 95% of their hackathon winnings to the escrow account. If hackathon rewards are greater than hackathon costs, the difference is split between hackers and the Cabal Treasury to fund future hackathons.

The system allows for cyclic subsidized hackathons for Cabal Labs members. Our goal is to extend beyond global hackathons to hosting sponsored destination hacker houses for hackers to find potential co-founders, VCs, and become more applicable for tech jobs.

How it's Made

The CabalDAO is a pioneering decentralized initiative designed to empower young professionals, primarily from the technology sector, by simplifying their access to hackathons and specialized technology events. Recognizing the challenges faced by many in securing opportunities and resources, CabalDAO provides a structured and transparent framework for engagement.

At the heart of CabalDAO's operations is the ability for event organizers to propose new hackathons or tech gatherings. This democratizes the event landscape, allowing for a diverse array of events that cater to varying expertise and interests. Once an event is proposed, participants can seamlessly apply for inclusion. This streamlined application process not only lowers the barriers to entry for newcomers but also ensures that dedicated and passionate professionals can consistently find events matching their skills and passions.

A unique feature of the CabalDAO is its integration with the Unlock Protocol. Each proposed event is not just a listing; it's given a distinct identity in the form of an Unlock instance. This instance serves a dual purpose. First, it acts as an escrow, safeguarding funds allocated for the event. These funds are used to manage the event's expenses, reward distributions, and participant refunds. The escrow mechanism instills trust among participants, ensuring them that their efforts and contributions will be fairly rewarded.

Second, the Unlock instance provides a level of exclusivity and security. Each event's unique identifier ensures that only genuine and relevant participants can access event details, apply, and receive benefits.

Central to the DAO's operations is its primary smart contract. This contract is the operational backbone, handling crucial tasks like managing memberships, keeping a detailed record of all events, allocating funds for approved events, and overseeing the entire process of reward distribution and refunds. This systematic approach ensures that the DAO runs smoothly, with all processes being transparent and verifiable on the blockchain.

An integral part of the CabalDAO's ethos is its community-driven approach. Membership within this DAO is not just nominal; it's symbolic and functional. Members are identified through specific NFTs provided via the Unlock Protocol. Holding this NFT is akin to holding a badge of honor, signifying the member's commitment to the DAO's goals. It also acts as a verification tool, ensuring that only genuine members can propose events, apply for participation, and engage in other DAO activities.

Lastly, we used the SAFE Dashboard to create the Cabal Treasury and built create/propose transaction, confirm transaction, and execute transaction functions using the SAFE{core} protocol toolkit.

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