Realms is a platform built on Solana that provides tools for builders to create and manage their own DAO. Using Realms, builders can create their own DAO, which allows them to manage their members, vote on proposals, and allocate their treasury. Realms provides a user-friendly frontend interface that allows DAO members to interact with the smart contracts that govern the DAO.

Realms is built on top of SPL Governance, which is a DAO and asset-type agnostic standard for building and maintaining DAOs on Solana. This means that builders can create any type of DAO they want, whether it's a multi-sig DAO, an NFT Community DAO, or a community token DAO.

What is a Proposal?

A proposal (in this case, a DAO proposal) is a formal suggestion submitted by a DAO member advocating for a specific action or change within the DAO. Proposals can range from governance structure changes to fund allocation. They're open for discussion, voted on by members, and if approved, executed, often via smart contracts.

Why would I want to create a proposal?

A key strategy for taking part in a DAO's governance and determining its course is to create a proposal.

Some few broad categories that you can present are:

• Governance Proposals: These relate to changes in how the DAO is run. They can include changes to the DAO's rules, voting system, membership requirements, or other governance structures.

• Financial Proposals: These proposals are often related to the DAO's funds or treasury. They could involve deciding how to allocate funds, whether to invest in a certain project, or even changing the DAO's financial strategy.

• Membership Proposals: These could relate to adding or removing members, changing membership rules, or other topics related to the DAO's members.

Remember, these are just examples. The range of possible proposals is as diverse as the DAOs themselves.

This allows you to actively contribute to the community, shape its rules and operations, and help ensure that it aligns with your vision and values. It's a means of speaking up and having an impact in a decentralized, democratic environment.

How do I create a proposal in Realms?

This step-by-step environment was created in a Community Token DAO.

To create a proposal in Realms, follow these steps:

1. Head over to https: app.realms.today/realms and choose the DAO you wish to delegate your governance power.

   

2. After selecting the respective DAO, head over to New Proposal which should be located at your top right of your screen below the Proposals tab.

   

   Make sure you have the minimum governance tokens to create a new proposal.
   You can check what's the minimum on DAO Wallets & Assets > DAO Wallet > Rules.

   

   

3. After meeting the requirements of creating a new proposal you will be prompt with the picture below.

   

   This is the blank 'sheet' you will get to create a proposal, after this the topic of the proposal depends on what you are trying to achieve within your DAO so the transaction that might fill the proposal may vary from person to person.

   In this case we will procced with a simple 'Mint Tokens' proposal.

4. Here is an example of how a 'Mint Tokens' proposal would look like.

   

After completing writing the title and description, you have the option for the proposal to be voted by the council or by the community. After that you hop to the transactions tab and you will be able to select what type of instruction you want for the proposal which in our case is to mint our community token. Destination account should be the wallet you want to be receiving these tokens and for the amount relates to how many you want to mint for that specific destination account.

After completing the proposal go ahead and click add proposal.

5. After completing the proposal, you should be redirected to it and to be able to vote.

   

   This proposal in specific has different quorum, different max voting time and was set to voted by council voting.
   Depeding on which DAO you are creating a proposal for you might get different values for:

   • Quorum

   • Max Voting Time

   • Proposal Cool-off Time

   • Community Vote Threshold Percentage

   • Council Vote Threshold Percentage

   Where can you check this? The same can be checked on step 2 under DAO Wallets & Assets > DAO Wallets > Rules, there you will be able to find all these parameters.

6. After a proposal has passed any DAO member will have the option to execute the proposal which will trigger it to execute the instructions set on the proposal.

   

Need help or have feedback?

We've put together some documentation here, but if you still have questions you'd like answered we’d love to hear from you.

You can reach Realms team via Discord and Twitter.

The web-based user interface is likely your main tool for interacting with the SPL Governance program, especially in the context of Solana's Realms. So, to wrap up this article, we'll provide a short recap of the concepts we've discussed as they relate to this interface.

Previous articles that have been discussed up to this point can be found at the bottom of this article at the Learn More headline.

Creating a Realms

When you navigate to the Realms page , you can see the list of existing realms. Clicking on the Create DAO button presents you with three options to choose from:

All three options present a walkthrough wizard where different default parameters are predefined, and a different set of parameters has to be provided. The Multi-Signature wallet option creates a Realm where only the council is expected to vote, and community is not enabled. The NFT Community DAO option creates a Realm where voting power comes from ownership of NFTs. It is a voter weight plugin that provides functionality for voting power calculation. The Community Token DAO is meant for community-driven DAOs where both the council and community are enabled.

You can find all below all three options on how to create each type of DAO thoroughly:
Multi-Signature Wallet

NFT Community DAO

Community Token DAO

When a Realm is created, the main Realm configuration page is presented. When you change some config, it is usually done via a configuration page that ends up creating a proposal. The proposal is a usual way to change the configuration of the Realm and Governance.

Pathway through the UI

1. My governance power - After connecting the wallet, the user can deposit tokens to the Realm and manage their delegation of voting power, withdraw tokens, and check on their created proposals. The My Proposals button shows proposals that the token owner has voted for, including active and unrelinquished ones. The menu names the unrelinquished proposals as Unreleased Proposals. To withdraw tokens, the user has to relinquish all proposals (i.e., Release All button). Even for finished proposals, the user has to do the unrelinquish action to withdraw tokens.

   

2. Params - This section shows the parameters of the Realm and allows for changes. The user can change the configuration of the Realm (stored in RealmConfigAccount) in the top right corner by clicking on Config -> Change Config. All Governance instances are listed below, and the voting settings can be changed by clicking on the Change Config button. There are other tabs on the right side of the list of Governance instances, including Accounts, where the user can list all related accounts to the Governance. The Accounts tab lists the native treasury wallet, ATA token wallets managed by the governance, program accounts or a mint if available.

   

3. DAO Wallets - This section provides a different perspective on the Governance accounts. Importantly, the user can create a new Governance instance by clicking on the New DAO wallet button. The list below the button represents the addresses of the native treasury wallets (every Governance has one). To add an asset to a wallet, the user can click on the Add Asset button at the to right side. A new token account can be crated so. The tabs on the right side of the list of native treasury addresses show a list of processed transactions. The Rules tab provides a way to change Governance parameters (similar to Params subpage), and the Treasury and NFTs tabs provide information about the assets.

   

4. Programs - This section allows the user to manage the upgrade authority of programs and do code upgrades. The New program button creates a new program type Governance (see Different types of governances) and takes management power for the program.

   

5. New proposal - The last section we will touch on is the New proposal screen. Here, the user can create a new proposal that can be chosen from a list of common proposals (such as mint token, transfer, etc.) or pass a base64-encoded transaction as a proposal. The switch Vote by council defines if the proposal will be created as a council or community proposal (a council proposal is voted only by the council and vice versa). At Preview transaction button, the user can check the instruction by simulating it. The Add proposal button then creates a new proposal that is eventually listed on the main configuration page.

   

In this article, we touched on the Realms UI and its main features as to how we can interact with the SPL Governance program and its main concepts.

Learn More

• SPL Governance: A Technical Overview

• Lifecycle of a Proposal: Understanding Proposals in SPL Governance

• Voting in Realms: Locking Tokens and Plugin System

Need help or have feedback?

We've put together some documentation here, but if you still have questions you'd like answered we’d love to hear from you.

You can reach Realms team via Discord and Twitter.

This is part three of a three-part series on creating DAOs in Realms. You can read about the creation of the Multi-Sig wallet here and the creation of the NFT Community DAO here.

What is a Community Token DAO and how is it related to DAOs?

A Community Token DAO (Decentralized Autonomous Organization) is a specific type of DAO that focuses on the governance and management of community-owned tokens. At its simplest, a decentralized autonomous organization (DAO) is a community with a shared bank account. Members of the DAO make decisions in a transparent and decentralized fashion, with smart contracts executing these decisions.

In a Community Token DAO, the governance and management of these tokens are controlled by the community members themselves. Members typically hold the tokens, which grant them voting rights in decisions related to the community, such as allocation of resources, project direction, and other important matters. This ensures that the community has direct influence over the project and its development.

In summary,

• Multisig - simple governance structure with limited number of members and usually 1 vote each

• NFT Community - governance structure where NFTs have governance power

• Community Token - governance structure where fungible governance token is used as governance power

What is Realms?

Realms is a platform built on Solana that provides tools for builders to create and manage their own DAO. Using Realms, builders can create their own DAO, which allows them to manage their members, vote on proposals, and allocate their treasury. Realms provides a user-friendly frontend interface that allows DAO members to interact with the smart contracts that govern the DAO.

Realms is built on top of SPL Governance, which is a DAO and asset-type agnostic standard for building and maintaining DAOs on Solana. This means that builders can create any type of DAO they want, whether it's a multi-sig DAO, an NFT community DAO, or a community token DAO. This article is about creating a community token DAO. For information on other types of DAOs, please refer to the documentation here.

A Community Token DAO is a decentralized cooperative focused on inclusive governance using community-owned tokens, while a multi-sig DAO, often linked to startups, emphasizes managing funds and decisions within a smaller stakeholder group.

Now that we cleared the terminology, let's dive in how to community token DAO.

How to create a Community Token DAO?

Prerequisites: This guides assumes that you are familiar with cryptocurrency and crypto wallets, as a Solana wallet is required to use Realms. Help me setup the wallet.

Now that you have your Solana wallet and some $SOL set, let's keep going.

Go to app.realms.today realms and connect your wallet in the top right corner by clicking on Sign in with Solana. Once you have connected your wallet, hover over it and choose View DAOs, which will open this page for you:

Click on "Create DAO" button and the following wizard will be shown:

Since we are creating a Community Token DAO, click on Community Token DAO option.

1) Choose a name

Your DAO needs a name, so now is the time to choose one.

TIP:
Realms will provide a governance program ID by default, users can add their own customer Program ID under Advanced Options at this step in the community token DAO wizard.

2) Choose the community token

If the your DAO's community have an existing token select "Yes" and provide the address of the community token you would like to use. If the your DAO's community doesn't have an existing token select "No" and skip to step 2.1).

Realms will automatically say if the token address is correct or not.

After completing the step above you will have the option to:

• Transfer mint authority of the token to the DAO.

• Set the minimum number of community tokens needed to manage this DAO.

Recommendation:
Do not transfer mint authority of the token to the DAO till the DAO is not secure enough and also to prevent 51% attacks.

Regarding the minimum number of community tokens needed to manage the DAO it's also recommended to set a very high value since if it's a low value a entity or person can achieve they will be able to manage the DAO and cause malicious attacks or do malicious acts.

TIP:
Realms will set the type of max voter weight to "Supply Fraction" and set the circulating supply factor by "1" by default, users can select which type of max voter weight they wanna use and also define the circulating supply factor under Advanced Options at this step in the Community Token DAO wizard.

2.1) Choose the community token

After selecting "No" you will be prompt to define the minimum number of community tokens needed to manage the DAO.

Realms suggests a minimum of 1,000,000 but there is no universally recommended minimum number of community tokens needed to manage a DAO. The optimal number of tokens and their distribution depend on the specific goals, structure, and size of the community involved.

TIP:
Realms will set the type of max voter weight to "Supply Fraction" and set the circulating supply factor by "1" by default, users can select which type of max voter weight they wanna use and also define the circulating supply factor under Advanced Options at this step in the Community Token DAO wizard.

3) Set approval threshold

In the next step, you are going to set the approval threshold. The approval threshold refers to the minimum percentage of votes required for a proposal or decision to be approved. The default is 60%.

For example, if the approval threshold is set at 60%, this means that a proposal needs to receive 60% or more "yes" votes to be approved. If the proposal receives less than 60% "yes" votes, it will not be approved.

DAOs can set their own approval thresholds, and they can vary depending on the context and the specific rules of the DAO. In some DAOs, the approval threshold may be set very high to ensure that decisions are only made with a broad consensus, while in other DAOs, the approval threshold may be set lower to allow for more flexibility in decision making.

Recommendation:
Starting with a lower approval threshold can provide easier decision-making and flexibility, but may also risk power concentration and susceptibility to attacks. The ideal threshold depends on the DAO's goals, community needs, and balance between efficiency, decentralization, and security.

The specific threshold will depend on the goals and characteristics of the DAO and its community. It can also be adjusted over time based on feedback and experience, as the community's needs evolve.

4) Add council to your DAO

In this step you will be able to create or use an existing token for the DAO's council.

Whether to create a new token for the DAO council or use an existing token depends on the specific goals, structure, and context of your DAO. Here are some factors to consider:

1. Purpose and utility: If the existing token already serves the DAO's purpose and aligns with its goals, using it for the council can streamline governance. However, if a new token can provide additional utility or better align with the DAO's objectives, creating a new one may be beneficial.

2. Token distribution: If the existing token's distribution is fair and representative of the community, it may be suitable for the DAO council. Otherwise, a new token might be necessary to ensure broader and more balanced representation.

3. Community engagement: Using an existing token can leverage the existing community and its interest, while a new token might attract a fresh audience and foster new engagement.

4. Economic factors: Consider the potential impact on token value, inflation, and overall token economics when deciding between using an existing token or creating a new one.

5) Invite council members

In this step you will be able to invite council members to the DAO by using their Solana wallet address.

As mentioned in Realms, Council members can supervise and moderate DAO activities. It’s recommended to always create the council for DAOs in their incubation stage to prevent governance attacks or accidental losses of assets managed by the DAO.

6) Set your DAO's council approval threshold.

By setting your pre-determined council threshold you will be able to pass council proposals depending on how much is the threshold percentage.

7) Review

After following this steps, you should have something similar like the image below:

Recommendation:
Make sure to review all info and double check if everything is correct.

Then just click Create Community Token DAO, your wallet will pop up asking for signature. Approve it to create the tokens and deploy the DAO.

After the transaction is complete, you'll be redirected to the DAO's page.

And that's it. You created a DAO. 👏👏👏

Need help or have feedback?

We've put together some documentation here, but if you still have questions you'd like answered we’d love to hear from you.

You can reach us via Discord and Twitter.

Realms provides a platform for builders on Solana to create a DAO, manage their members, vote on proposals, and allocate their treasury.

Whether you are running a multisig, NFT community DAO, or community token DAO, Realms has the tools and integrations to help your community flourish.

Realms serves as the frontend for SPL Governance, a DAO-type and asset-type agnostic standard for building and maintaining DAOs on Solana.

What is Delegation?

Delegation (in this case, governance power) refers to the process of assigning control or management rights of your governance power to another user. By delegating, you can entrust the management of governance power to someone else while still retaining ownership.

Why would I want to delegate my governance power?

Delegating your voting rights can be useful for various reasons, such as:

• Lacking time or expertise to research and make informed decisions on proposals.

• Trusting someone else who has more experience or knowledge to vote on your behalf.

• Temporarily being unavailable to participate in governance voting.

• Delegating to a hot wallet makes the setup and governance participation more secure.

How do I delegate my governance power in Realms?

To delegate your tokens for governance voting in Realms Solana, follow these steps:

1. Head over to https://app.realms.today/realms and choose the DAO you wish to delegate your governance power.

   

2. After selecting the respective DAO, head over to My governance power which should be located at your top right of your screen.

   

3. While being in the My governance power tab, connect your wallet of choice if you didn't do it before and at the Delegate tokens panel write below in the text input box which wallet you would like to delegate your governance power.

   Click Delegate and procced with signing in your wallet the confirmation to delegate your governance power to the selected wallet.

   

   You must copy the wallet address into text input box to be able to delegate.
   
   A Solana address's length varies from 32 to 44 characters.

   

   Always double check the wallet you are assigning to delegate!

   

4. After delegating your governance power, the wallet that received the delegated governance power should have an UI looking like this.

   Below the My governance power tab it should have a Your Delegates tab.

   

5. Everything should be working correctly if all the steps were done as indicated.

   

   Q: Can I delegate my governance power to multiple wallets?
   A: No, only 1 wallet.
   
   Q: Can the delegate withdraw my tokens?
   A: No.

   

   If there is no need anymore to delegate your governance power simply reverting the proccess is enough.
   
   Go to My governance power from the delegate account and click on the cross sign which will prompt a confirmation in your wallet.
   
   After this, the wallet holding the governance power should be not delegating anymore to any other wallet.

Security considerations for delegating tokens

When delegating tokens, it's essential to consider security aspects, such as:

• Ensuring that your private keys are securely stored and not shared with anyone.

• Verifying the wallet address of the delegate before initiating the delegation process.

• The delegate might not vote as per your preferences or expectations.

Socials

https://app.realms.today

Realms

https://discord.com

Join the Realms / SPL Governance Discord Server!

Check out the Realms / SPL Governance community on Discord - hang out with 1,180 other members and enjoy free voice and text chat.

https://github.com

GitHub - solana-labs/governance-ui

Install Anchor if you don't currently have it installed. navigate to the switchboard_v2 directory within switchboard-core and run anchor test. This will build switchboardv2 and run the addin-tests.ts script, which will set up a realm, governance, queue, oracles, permissions, and proposal.

toly 🇺🇸

@aeyakovenko

Setup a dao! Then you won’t be alone in your bewilderment

wizard for nft DAOs app.realms.today/realms/new

and guide for manual setup docs.realms.today/DAO-Management…

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16:21 • 7/02/2023