Societal’s features fall into three main categories: Operations, Treasury, and Governance.
Community managed wallets can be set up for a DAO which will be controlled and governed by smart contracts that the organization puts in place. By building with Substrate, Societal is compatible with different token standards such as ERCs, SPL, and DOT native. A DAO can choose which token standard it will use for governance or hold its treasury.
Societal will integrate with lending, borrowing, staking, and insurance platforms on Polkadot to enable active and protected DAO treasuries. This will enable a DAO to seamlessly use these platforms if it so chooses, expanding the capabilities of its treasury. Acala, Parallel, and Composable Finance are examples of DeFi protocols built on Polkadot that Societal would be able to integrate with.
On-Chain Cap Table
Depending on the type of DAO being created, an on-chain cap table (e.g. mirrortable) - coined by Balaji Srinivasan - may be necessary for the organization. An on-chain cap table allows for easy to see token percentage ownership within the DAO. Additionally, on-chain cap tables make it easy to examine voting power, and allows for faster distribution of profits to the members.
Societal will partner with and integrate web3 accounting tools directly into the application. This will make it easy for DAOs to produce financial reports for its members or for end of year tax reporting.
Multisig wallets are the core of DAOs, that is why Societal has its own multisig wallets built right into the platform. No need to create a third party multisig beforehand and import it into the application.
Societal will use cryptographic primitives like zero-knowledge proofs (ZKPs) to enable DAOs to raise and store funds privately. This will protect a DAO from third parties tracking its treasury to see how much capital has been raised and where the capital is going. Private transactions and treasuries will be a gamechanger for investment DAOs that are competing against other organizations for the best opportunities and prevent front running like we have seen with the aforementioned ConstitutionDAO scenario.