My name is Graeme Fox - Co-Founder & CEO of Societal. Societal is a parachain project that makes it easy to organize, govern, and grow on-chain communities. On the Societal chain, we are building a streamlined SaaS application that will be the ideal platform to run any Polkadot community’s operations and governance. The projects that can use our platform include the creator economy, protocols, social clubs, gaming, DAOs, and more.
As it stands today, the Polkadot ecosystem does not have the creation, governance, and treasury management tooling that other major blockchain ecosystems do. Additionally, the systems that parachain teams currently have access to have seen a number of governance based attacks.
Here is an informative thread outlining some of these recent governance hacks. Mangata Finance also had a similar governance based attack, where an individual elected multiple wallets into council positions, ultimately controlling the entire council and chain. Information on this case can be found here and here. Darwinia Network also experienced a governance based attack, where the attackers took control of the council and extracted large quantities of tokens. ChaosDAO recently performed a governance attack for educational purposes on Avail, where they were in control of 99.995% of the token supply. These cases demonstrate that there are many types of attack vectors that teams need to be aware of when launching a parachain. This creates a hurdle for new teams building with the Polkadot SDK, and distracts them from building and deploying their core product. Failure to protect yourself from these attack vectors can have fatal consequences for the project and community. Societal’s platform can prevent these attacks from taking place.
What We’re Building
Societal will provide an easy-to-use governance, treasury management, and operational toolkit for decentralized organizations and communities in Polkadot. By building these products, we hope to push the decentralization efforts of the Polkadot ecosystem forward.
We will provide parachains with a range of different governance systems, allowing them to select the system that best suits their community. By providing these governance systems, teams will be able to deploy faster and have better engagement with their communities. As mentioned above, managing a governance system can be a large lift for teams to do properly. With Societal, teams will be able to use our platform to manage their community grants, ecosystem rewards, bounty programs and more, all wrapped together in a single application.
Societal has already completed the majority of the development of our product and will soon be ready to start onboarding users. In the near future, decentralized organizations within the Polkadot ecosystem will be able to manage their governance, treasury and members using Societal.
End-User Product Overview
Track Record/List Of Accomplishments To Date:
- Attended Inaugural Polkadot Blockchain Academy
- Inaugural Polkadot Relayers Secured
- Three Web 3 Foundation Grants — Grant 1, Grant 2, Grant 3
- Accepted to Substrate Builders Program - Chains Track and Completed Milestone 2
- Multiple Polkadot Panel Discussions - Academy Alumni, ETHDenver
- Rococo Testnet Deployment
- Product Walkthrough Videos
- Scytale Academy Graduate
- Accepted to Berkley Blockchain Accelerator 2023
- Cross Ecosystem Engagement Initiatives
In-Depth Project Information:
The Societal team has been committed to building in the Polkadot ecosystem for the past few years, and we hope that the community sees the value in what this project will bring to the table. We would love to hear the community’s input on our proposed project, and are more than happy to answer questions. Chat soon!