Safe DAO 6551
Our project creates a DAO via the ERC 6551 Token Bound Account standard. Users mint an NFT on our platform, which allows them to generate a unique DAO account. This account can accept any form of assets and has a standalone on-chain transaction history.
Project Description
Our project utilizes the ERC 6551 standard, also known as Token Bound Account, to implement a Decentralized Autonomous Organization (DAO). Every member of this DAO is represented by an abstract wallet. Users first need to mint an NFT on our website. While the NFT itself doesn't hold any particular value, it serves as a mechanism to create an account (6551 abstract account) that stands as a DAO member's representative. This account can receive ETH, ERC20 tokens, NFTs, or any form of asset. Moreover, it maintains a unique, independent on-chain transaction history. This means the history of on-chain transactions can be traded as well. The ownership of this abstract account can be transferred simply by selling the NFT.
How it's Made
We've made use of various tools including Forge-Safe (https://github.com/ind-igo/forge-safe), ERC6551, Safe SDK, and NFTs with SVG URLs to implement our system. Relying on ERC6551, we issue a Soul Bound Token (SBT) to each abstract account. This SBT serves as proof of membership. Once a member possesses an SBT, their address is added to our multi-signature wallet within the Safe environment. In the future, they can utilize Forge-Safe to endorse DAO votes, ultimately executing transactions through the Safe interface.
