Currently, existing on-chain voting mechanisms have a tendency to descend into plutocracies whereby the wealthy who have the power to accrue more tokens, have the biggest say at the detriment of smaller token holders.
Existing on-chain voting methods can lead to vote-buying, which has led to the rise of “Dark” DAOs. The foundations of the vulnerability stem from the low barriers to entry for malicious actors (whether individuals or larger entities) to skew the democratic voting process by buying up large amounts of tokens to achieve an unfair share of the voter's rights and influence the decision making in an unfavourable way.
“Whales” (very large token holders) can gain an unfair voting advantage which allows them to skew elections in their favour simply by accumulating large amounts of governance tokens
SpiderDAO greatly enhances the DAO concept by introducing a dual-governance model which bundles
together hardware and software tools with on-chain elements, providing a “whale-resistant” governance solution.
SpiderDAO is underpinned by the Polkadot consensus mechanism and utilises a network of hardware routers
deployed by DAO participants as a “ticket” for election voting
To qualify for a vote in the SpiderDAO, the participant must have a compatible Hardware Router connected to the Spider Virtual Private Network with SPDR tokens staked. One SpiderConnect router equates to one vote with safeguards in place to ensure hoarding of hardware devices is instantaneously detected by the network.
SpiderDAO transfers the voting eligibility rights from solely the token to a dual off-chain - on-chain mechanism. This makes it more challenging for large entities to disproportionately influence the elections without incurring significant costs.
SpiderDAO will first be integrated with SpiderVPN which currently has over
6,400+ international users active across 18+ countries. It will provide owners of the SpiderConnect Routers with access to a decentralized VPN service (dVPN), granting full online anonymity and a host of premium features.
The Spider Treasury will be created to accumulate 2% of crypto proceeds generated by services utilizing the SpiderDAO, the first of which will be SpiderVPN. These funds will be used for continuous improvement of the Spider ecosystem, with eligible DAO participants able to submit and vote on proposals to fund successful projects.
The SPDR token is the cornerstone of the SpiderDAO ecosystem, designed to capture value creation within the network and enabling the development of a fair, robust and self-sustaining ecosystem.
The Spider ecosystem leverages Hardware, Blockchain, Cryptography and advanced Liquidity mechanisms to make it as robust and as fair as possible. The three core components are; the SPDR Token, the SpiderConnect Router and the Spider DAO system itself. All three come together to create an ecosystem that is geared towards a community built on the solid foundation of fair governance. In turn, the SpiderDAO will develop safe, secure innovative products and services for use on the internet for now and well into the future.
Our Leadership Team have been working together for a combined total of five years, in that time they have worked on diverse and innovative projects, all with proven track records. This record encompasses work in both the VPN Industry and Router design at SpiderVPN. Our team are also experts in their own fields with well over 10 years of experience in hardware and
blockchain ecosystems respectively.
Nathan is an experienced entrepreneur
specialized in IoT development and operations, Skilled in management of onsite and remote IT Help Desk Administrators and Developers. He has been successfully overseeing SpiderVPN since 2017. He also managed the full oversight of multiple projects from start-up to completion.
Before joining SpiderDAO, Marwan was the Director Of Engineering at adam.ai he contributed to the development of various technology solutions. He also worked as the Tech Lead at Wide Networks Solutions, experience in wide range of tech desktop and mobile apps, embedded systems, fintech and AI.
Acting as Project Manager and working with teams of Developers and Administrators. Anas has a background in hardware engineering, full network stack development and computer science working with embedded systems for Open Source network/entertainment Operating Systems design. Previously worked for A-Solutions,
Pensil Media, FuboTV.
Pierre holds a Master of Engineering in
Computer science from a French Engineering School, he joined the cryptocurrency exchange Gatecoin in 2018 to oversee the development of the
European office as Blockchain Partnerships Manager. After that, he Co-founded Atka advisory.
Alexander is the Business Development Manager at SpiderDAO. He has a background in Business Development and finance for the past 10 years with several successful exits under his belt.
He is successfully overseeing Industrial
and Car Rental operations since 2013,
growing these businesses to over 200+ employees and Multi-Million Euro Turnovers. He worked on many crypto community projects helping with growth and engagement. In parallel, he was actively involved in crypto trading and mining operations since 2015 in which he gained a great deal of knowledge about the crypto-verse and the inner workings.