DeFi, GameFi, NFT and adjacent projects share conceptual simplicity with operational complexity. DAOs, which have emerged as the perfect Web3 governance and management structure are another example of the blockchain ecosystem’s ‘simple to explain, hard to implement’ characteristics. The complexities of DAOs are even more daunting for non-tech native groups which could benefit from smart contract based governance structures.
Enter The Summon Platform, announced today by the Zug, Switzerland based not-for-profit Summon Association. Promising all the benefits of full or partial governance DAO structures in a remarkably easy to implement package.
During today’s launch, Adam Rusch, PhD, president of the not-for-profit Summon Association said,
“The Summon Platform is a comprehensive solution for DAO creation and management. Summon empowers high-functioning DAOs to flourish with never-before seen ease of establishment and management.”
The Summon Platform will launch in the fourth quarter of 2022, initially on the Cardano blockchain and cross-chain soon after, said Thomas DiMatteo, co-founder and operational lead of The Summon Platform technology developer Summon Labs. DiMatteo, a well-known technologist in the Cardano ecosystem who goes by the nick ‘TCT’ said, “The Summon Platform enables truly decentralized, truly autonomous and powerfully simple organizations for tech, business, finance and not-for-profit communities.”
“The Summon Platform fills a gaping void,” said Matthew Bowen, co-founder and general counsel of Summon Labs, “In practice, DAOs are currently accessible only by technology teams, such as software development and DeFi projects. DAOs are difficult for the general business and finance community to establish, to say nothing of community-based organizations. With The Summon Platform, organizations of all kinds finally have a rich and flexible toolkit to explore and implement their own full or limited DAO structures, leveraging the integrity of the blockchain.”
Riley Kilgore, a rockstar smart contracts dev and co-founder/technology lead of Summon Labs substantial architectural background materials available. Kilgore said, “The Summon Platform will allow individuals of any technical level to summon their own transparent, on-chain DAOs, and invite others to join by exclusive invitation or permissionless enrollment. By utilizing Cardano’s Plutus-Core, and a strong understanding of off-chain programming code, The Summon Platform allows for decentralized coordination and governance. Additionally, the Summon team brings to the table several valuable enhancements to NativeScript and typical DAO setups, empowering users without experience writing smart contracts to create DAOs of any shape or size.”
DAO insiders already understand the power of governance and utility tokens in the implementation of a DAO’s decision-making process. The Summon Platform’s governance token, $SUMMON is teased to enable “innovative utility purposes”, and will be offered on-chain in Mid-August, according to Adam Rusch. A Cardano-based Initial Stake Pool Offering (ISPO) is also planned once The Summon Platform is fully launched and operational, expected in Q4 this year.