Hey BAO Finance Community,
I’m the Governance Researcher on the StableLab team, and we recently launched DAOmeter, a maturity rating system for DAOs.
The goal of DAOmeter is to serve as a public good by providing an effective method of evaluating and benchmarking the maturity levels of various protocols. This is achieved through a scoring system that encompasses key categories within protocols, such as Community, Voting, Documentation, Security, and more.
Based on our evaluation, BAO Finance has earned a maturity score of 63%.
We noticed that BAO did really well in the category of “Documentation” and “Treasury”. However, we did find that the protocol does not have delegation and that proposal data does not get stored on chain. Have you considered implementing these features in the past? We believe that such features can enhance the performance of the protocol.
As we’re committed to the continuous improvement and development of this tool, we’d love to hear from the broader community. Please feel free to share your thoughts, suggestions, and insights with us as we work to improve the DAOmeter scoring system.
Cheers,
StableLab
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Firstly I’d like to say thank you for your time and review of our DAO’s operation!
As for on chain proposals, we have been exploring implementing a new system called Governor Charlie. We are researching and seeing how it may be implemented into our operations.
Thank you for this review !
I would like to open the discussion about the audit score in the Security section.
Bao Finance participate in a Immunefi program (bug bounty) since late 2021 and many whitehats hacker battle tested and submitted bug reports.
It is true our codebase hasn’t been audited by renowed audit firm, but we crowdsourced this aspect to one of the most known decentralized program used by hundreds of protocols.
Even though I personally believe this program makes us being audited “continously”, I believe its not accurate to give a score of 0 on that aspect since efforts and procedures are in place.
As for on-chain governance, this is indeed something we want to move to, as stated in our annual roadmap ([BIP-23] 2023 Bao Annual Roadmap)
Finally, as a personal opinion, I would try to find a good balance in the voting section in order for protocols that hasn’t any delegates in place to not be hit with a total of 50% score on that section. (If there’s no delegates, its sure they aren’t compensated. Is that worth 10 points ?)
I really appreciate the review and the willingness to connect with DAO. Looking forward for more interactions and feedback !