The FVM Imaginarium: Bringing DataDAOs to the Next Level with FVM
The launch of the Filecoin Virtual Machine (FVM) is quickly approaching, but there are already amazing projects in development. The FVM Imaginarium Campaign is putting the spotlight on the teams who are building incredible use cases and introducing new opportunities and concepts on FVM.
Decentralized Autonomous Organizations (DAOs) are distributed entities with ownership and governance represented by on-chain activities and participants. With Filecoin’s storage network capabilities to store large amounts of data and data being essential today, there is a huge opportunity for DAOs to organize around stored data. These are known as DataDAOs for the curation, governance, usage and distribution of useful data. With FVM adding programmability to storage, DataDAOs are in a prime position to unlock valuable data-related solutions and services.
Lagrange DAO is a DAO for data value realization and decentralized science (DeSci). It provides data sharing and analytic spaces for DeSci. Lagrange Spaces allow researchers to use public infrastructure for storing, sharing, creating, rewarding, and disseminating scientific knowledge fairly and equitably using the Web3 stack.
It’s made up of four parts: dataset, model, space, and revenue sharing. In Lagrange DAO, researchers can upload the dataset and models to their workspace and share it with the community. Users can share the benefit with the data and model contributors.
According to the team, they are “aiming to provide a self-sustainable data ecosystem driven by the community.”
GlacierDAO is working to solve the problem of source code preservation. The team aims to build a DAO that opens the replication of Git repositories that contain code deemed to be of public interest. In addition, it will allow users to pool funds together in order to fund the replication of these repositories on the Filecoin network, while also rewarding users who show alignment with community values by giving them higher voting power on repository curation.
GlacierDAO plans to be completely run by smart contracts on the Filecoin network without requiring accounts with admin privileges. Because of this, the curation or repos, storage deals, and rewards distribution will be handled entirely by the smart contract.
SPN DAO is a DataDAO that enables consumers to turn credit card transaction data into assets, allowing them to have direct control over the use and monetization of their data (e.g. banks looking for credit card data).
The data that DAO members contribute is encrypted and published to IPFS. The IPFS CID is encrypted on-chain and is referenced in the metadata of a Soulbound Token (SBT) that represents DAO membership. Only an “admin NFT” owned by a DAO admin wallet is authorized to decrypt the content of the data which is obtained through IPFS. Payments with Filecoin or Polygon are sent to holders of the DAO membership SBT immediately after decryption.
The team looks to approach challenges such as the reliability of data encryption by developing future iterations. This includes a later plan that will open the ability to store a decryption key in a Gnosis multi-sig and enforce collecting a certain number of approval signatures for decryption.
Kangaroo is a DataDAO starter kit which allows anyone to create a DAO, distribute ERC-20 tokens to the DAO members, and can enable voting on the preservation of data and file sets. Members can stake tokens to vote for the preservation of a specific set of data, submit a data set for members to vote for, pay storage providers with governance tokens, and vote on the upkeep of storage providers while offering rewards.
The team stated that Kangaroo’s goal is “to be the de facto factory to create DataDAOs on the Filecoin Blockchain. We are keen to build this project further so that different DAOs can leverage our smart contracts to support the governance of persistent decentralized file storage.”
Shale is working to bring cloud computing to Filecoin and enable Storage Providers to leverage existing storage power for computation and directly compete with other cloud storage providers such as AWS and Google Cloud. Public users will have the opportunity to rent computing instances from Storage Providers and access Filecoin+ storage deals through a local network.
The team is hoping to attract AI companies and researchers to utilize the “cheap GPU resources in the Storage Provider network and consume the large data in storage deals.” Shale boasts a Layer 2 marketplace on FEVM with offline protocols and SDKs.
Building your first DataDAO on Filecoin
For those wondering how to build a DataDAO on Filecoin, here is a template to get started today on Filecoin’s Ethereum-compatible virtual machine. To stay up-to-date on the latest FVM news, be sure to follow Filecoin on Twitter, and keep an eye out for more from the FVM Imaginarium!