☯️What is Accord?

No-code, no-token, pain free dApp. Start tracking contributions for equity & manage governance in your web3 community or startup.

Before Accord

Until now, DAOs have not been trivial to create. A DAO techically resides on a blockchain as opposed to a jurisdiction. So, there is no office to visit or paperwork to file in order to establish a DAO. Launching a new DAO involves creating a new protocol in ‘Smart Contracts’ and issuing tokens on a blockchain. The integrity of the DAO relies on its’ token, the smart contract source code and cryptographic algorithms on the blockchain that provide the mechanisms for voting, consensus decision making, treasury management and equity ownership.

Forming a DAO requires specialist technical knowledge and careful attention to security to minimise risk of bad actors finding vulnerabilities in the protocol which could manipulate voting or gain access to the DAOs’ shared treasury funds. Besides the technical challenges; there are also numerous legal and management complexities that mean many DAOs are DOA (Dead On Arrival) in that they fail to launch or are unusable due to issues in the planning or development.

These challenges are evidenced in that only one in 100+ organisations that claim to be a 'DAO' with the formation of a DAO in their roadmap ever actually establish a true DAO on chain. So, despite their ‘popularity’ and being the ‘future of all types of organsiations’ the fact remains that true DAOs are only being slowly adopted. Approx. 11,500 with $11B in treasury worldwide.

Without Accord, most DAOs are just a large group of people hangling out online taking about their mission but lacking the underlaying incentives or structure to move forward.

Now with Accord

Accord is a DAO operating system. Available in a mobile and desktop app.

Anyone can create a DAO in seconds and onboard co-founders and contributors. DAOs created in Accord are instantly Decentralized Autonomous Organizations.

Contributions are tracked in ‘DOU’ (= DAO Owes yoU virtual currency) to instantly illustrate each member's slice of the DAO as a ‘Cake’ (Pie chart).

The ‘slice’ is the equity in both % and DOU terms which can be ‘Baked’ with a pricing event of a token or share issuance. Through the flexibility of the delayed ‘Baking’, Accord opens up DAO tech to the world to bring decentralized operational benefits for any type of project.

In summary, Accord removes the barriers: psychological, legal, contractual and financial so there is no apprehension to start working with anyone on any project where there is a shared common goal. Using Accord, participants can agree on a set of governance rules and incentive mechanisms that can be enforced by smart contracts, removing the friction points that often delay the start of the project. Accord also adds a layer of trustless transparency necessary for productive collaboration by swiftly and accurately tracking contributions and equity distributions.