Following our earlier partnership announcement with Syncra, we are excited to reveal more details about our work together.
Syncra is a user-friendly platform that’s streamlining Digital Autonomous Organisation (DAO) creation. Its no-code solution means that anyone can create and manage a DAO with just a few clicks.
DAOs are one of the most impactful use cases for blockchain. These are organisations that choose to operate via a governance model, allowing large communities to vote on how a blockchain platform operates — for example, allocating funds and making changes to the protocol. However, since voting on public blockchains is visible, voter integrity cannot be assured.
Together with Syncra, we will bring privacy and security to the process of governance to enhance the integrity and autonomy of voting.
Syncra x COTI: Enabling Private and Secure DAO Governance
Syncra will integrate with COTI’s privacy layer to offer users privacy throughout the governance process. COTI’s privacy features extend to complex, multi-party scenarios, enabling encrypted vote policy, strategy, and voting power calculations.
The integration will be conducted in several stages. The initial phase will see Syncra’s contracts deployed on COTI Testnet and include support for token-based DAOs and wallet-based DAOs.
The second phase will see COTI’s functionality integrated with Syncra’s Governor Module. This module allows DAO members to create proposals that outline suggested actions or changes. It will then manage the lifecycle of these proposals, from initiation through to the final voting phase. A Timelock feature adds a delay between the conclusion of voting and the execution of approved proposals, providing additional transparency and giving the community time to review decisions before they are enacted on-chain for further security. With COTIs privacy features in play, community members can use the Governor Module with end-to-end privacy, safe in the knowledge that their choices will be securely taken into account without revealing them to any third parties.
In the final stage, Syncra will deploy on COTI’s Mainnet, bringing DAOs from across the wider Web3 community into the COTI ecosystem. COTI’s capacity to serve Privacy-on-Demand will enable DAOs across all major blockchains to leverage its privacy features.
Syncra: The One-Stop Shop For AI DAOs
DAOs are a critical part of the way many Web3 organizations are run and managed. However, there are technical overheads to setting up a DAO, as it involves working with smart contracts and ensuring robust security to avoid governance attacks.
Syncra plans to leverage AI to streamline decision-making and automate a number of different processes, reducing overheads. AI agents will be able to help automate treasury management and allocate resources based on rules defined by the DAO. They will identify potential inefficiencies or risks entailed in governance processes and suggest optimizations.
Syncra also plans to use AI to assist users in understanding governance proposals by summarizing key information and predicting potential outcomes. Additionally, it can also give personalized recommendations on how users might vote based on their past preferences or community sentiment.
Syncra is already committed to enabling private voting, giving DAO members greater confidence and freedom to express their true opinions about how their organizations should be run. The addition of COTI’s technology to its platform will expand the range of options available to Web3 communities through COTI’s MPC. In particular, COTI’s growing community of builders will be able to use Syncra for DAO management, benefiting from a native option on COTI’s L2 that is low-cost, scalable, and versatile enough to meet all needs.
Find out more about Syncra at https://www.syncra.xyz, or follow the project on X.
For COTI updates and to join the conversation, be sure to check out our channels:
Website: https://coti.io/
X: https://twitter.com/COTInetwork
YouTube: https://www.youtube.com/channel/UCl-2YzhaPnouvBtotKuM4DA
Telegram: https://t.me/COTInetwork
Discord: https://discord.gg/9tq6CP6XrT
GitHub: https://github.com/coti-io
