Hey guys, and this is miss a bee here. This is Tyler one of the co-founders societal here. Hi guys, this is David. I run socials and community at SIDLE, nice to be here. Yeah, it's great to have you and then we also have a friend over a coin reference Adrian. How are you?
Hello, look, can you hear me? It's great to have a dance because I often have some technical difficulties and he's a great help. Yeah, so if you would just like to introduce a site, well, I'm just in a few sentences. What is the site?
Yeah, for sure. So societal is an EDM compatible app chain building on substrate. So it's designed for the creation and management of Internet Native communities. We're also deploying a product in top of our chain. We're deploying, are developing a subscription based B2B productivity tool. And essentially the aim is to improve on chain community growth using our unit features.
Yes, sounds interesting. So your launching as a parachain on Polk it up.
Yeah, that is correct. So we've been building in the Polka.Eco system for a while now and since I left the last year, give or take. You know, we are building a substrate and we're actually rapidly approaching our closed our private test sets.
is should be launching in just under a month here. And then we're looking to probably bid for a pair of chain come Q4 here once we do some test and testing, close test net, then an incentivized test net throughout the summer here and then go for that pair of chain slots.
Awesome, so things are found to heat up now in the coming weeks. I look forward to it. So you mentioned what societal is briefly. Could you break that down for us a little bit better so we can understand a deeper level?
For sure. So decided like I mentioned we are building an app chain. The sole purpose of this chain essentially is to create, manage, govern, grow, the internet native communities is kind of how we look at things that includes sales, different gaming guilds, different pair of chains.
You know, kind of the list is endless. You know, everyone says that community is your moat, especially in Web 3, but you know, not a lot of people are building really tools to do that. So my co-founder Graham and I, so he wasn't able to be here today, I apologize for that, but you know, I have a background in different SaaS, Web 2 SaaS kind of.
And then we really see kind of the creation and management of you know, internet native communities as a productivity based tool. So we'll be launching as a SAS model, you know, you've seen a lot of different transactional based models specifically in D5 probably had the most adoption. We're just saying that's the best option, especially.
If you're a fully decentralized protocol, you know, something like make your dollars, just say sort of thing, right? Like there is quite messy and if you look at like we both came from eat as well, right? And if you look at eat, there are so many different
ways to go about that problem. If you have in-house devs, you can build out your own governance contracts. If you wanted to piecemeal it, you could use something like a combination of discord, snapshot, some sort of reputation-based system like coordinate, and the list goes on and on. In our research, there was actually a
different categories of different management tooling that you can actually use. So this is a running grow your community. Really messy, you know, a lot of us I'm sure it's on listening to this caller used to, you know, using all in one platform, let's just say, or like HRM systems I had to say in Web 2, but I want to say it is quite messy.
though, we're still quite early. So that's really the problem we're trying to solve. And the biggest thing as well is that a lot of different communities-- I believe there's 12,000 communities using SnapTrop, which actually in reality is an opting governance system. So it really takes us back to our old web two ways. That makes sense. We're trying to solve for that.
Exactly, we should move away from that and move to all on chain governance. I mean, that's what WebTree is here for. So what type of governance models do you plan to launch with at this? Are you launch phase?
Yeah, so right now we have I believe three or four kind of baits into our test set already built out so we're quite far along from a development standpoint which is actually you know Developing the products I would say this past October so quite a few months now of development the ones that we have kind of first and foremost
I mean, one member, one vote. We actually also retrofitted polka dots. I guess now we've kind of switched over to open gov or just about two kind of thing, but polka dots, you know, with different subgroups that we've all retrofitted. It was actually only usable by a different pair of chains itself in the past. We've actually made it so that we can actually
to use these governance systems for every community, every internet community. In the future as well, we'll adopt OpenGov as well, and there are some awesome things while working on that solution. We're also very focused on IT communities. I kind of come from the NFT scene in the ETH as well back a couple of years ago, and it has
We want to be building out essentially all these different governance systems because it's the same thing as in real life. Like, if you just say one size fits all, it doesn't ever really work. So I want to give communities all the options to really just build out the operating system that they need to run the community.
And that's exactly I mean a lot of it is trying out these different governance systems and trying to find the optimal one but really in such a fast change in fast pace environment. And you're going to have to be able to adopt fast and move on your feet.
So, um, go ahead. Yeah, this is amazing. I have to say that such a tell is a great project and I want to ask you how the David there is.
What means the Dow for you? The centralized autonomous organization and what is the state of a Dow? You can explain us this please.
Sorry, you're just making sure I'm the right question. You're saying what what is a doubt to us like how do we see doubts? Yeah, for sure Yeah, so I feel like that was you know, I'm part of quite a few doubts myself and the council of a few as well You know, it's become quite a loaded term in the past, you know in our perspective, you know
The end of the word doubts is essentialize autonomous organization. Oftentimes it's not fully decentralized and in other cases as well they're not quite autonomous. There's a lot of centralized power authorities plus these regulatory concerns. Definitely a low-determ. That's why we prefer to look at these things, these groups of people as
that native communities or organizations, right? That's kind of a new terminology that's coming out here. And the reason for that is because, you know, I think we've been doing a lot of research in just like some metrics for you guys. There's 76% of all online users, these are the internet kind of thing, are part of some sort of online community, right? That only has been growing rapidly to pass
10 years or so. So, you know, I do believe very heavily in the Dow Framework or in different Dow Frameworks, but I do believe that, you know, the first iteration wasn't very successful because, you know, if you're building a product, let's just say, you know, I come from a tech background myself, if we have to decentralize, completely decentralize decision-making, well,
building this product and nothing would ever get done. So, you know, the applications are, there's a couple of really great use cases like an investment doubt for instance, to like everyone here on this calling, there's 500 of us here, we wanted to put in, you know, $10, right? You know, we all have an equal votes, an equal share essentially of this money we put in and then we can vote and invest it. I think that#
and you've seen really awesome products like Syndicate coming on and eat where they're fully focused on investment dows to really get way to pull money together and then not have to rely on centralized fund manager to make those transactions. You can do it through smart contracts, you know, code as long as that's kind of the vision of dows.
I think there's a new line of thinking now and it's something that we're starting to believe is in, is that there's the concept of Web 2.5, let's just say, where you have blockchain-based technologies, blockchain governance system, just to really avoid crypto-cambell because of 2008 financial crisis for lack of better term, Bitcoin has created really
is a reaction to the banks just kind of screwing everyone over and putting us into a deep, far below recession, right? So I think like just not to, I know I'm rambling here, but you know, a doubt in me, you know, I prefer not to think of them, the word downing more to be honest with you, but I do think that, you know, blockchain technology is 10X, 100X better than
what came before, even if you look at it at the very essence of it essentially, it's a distributed ledger which is you can't really find the numbers. So going back to your word there, what does it doubt to me? I think that everyone on this call is probably part of some sort of a doubt themselves, even if it's not really labels a doubt. If anyone's in Web Scripts right now,
Now, you know, part of a group or community. So, for instance, right now, you guys all are, you know, part of the community, you know, an internet native community. And, you know, I think that we need better systems to, you know, help us get to that next stage of kind of a, of Dows or our communities, if that makes sense. Yeah, we actually, in the, in essence, we've
2,000 source of solar, the main network, everything is done by on-chain vaults, so that's essentially it though. And then there's also another project built on top of solar called Harmony's Dow, which is, like you said, a decentralized investment fund. I actually sit on the parliament of that. We have around 550,000 of
treasury balance in various different projects and quite a stash of stable claims as well. Well yeah, definitely I think the governance of that doubt could get better. We launched a governance platform where people can put up proposals and they can get voted on iron
know. And the team actually put an idea forward and the community proposed that when I think it's 10,000 or X amount of tokens is one vote. It doesn't mean if you have say 10% of the supply, you don't get 10% of the vote. So this was to try and give everyone a fair
a fair vote, but then a lot of people, some we've seen some people made various wallets and sent funds to these different wallets to get more votes, so it's really quite difficult. Do you have any interesting concepts or ideas on how to really solve some of these difficult issues like
Yeah, that's like a really great point there. So definitely seeing, you know, there's a lot of grandma like to call them, like to call them governance-based attacks, right? There are a lot of ways to essentially fudge the system.
get around these different things. So, you know, it's always a work in progress and I definitely feel through you guys there with when, you know, I think that's really when on-chain reputation comes into play. So, I guess from like a 360 degree view of societal there. So, you know, we are building this, you know, operating system for Internet, Native communities. We are building on-chain
So there's all these things that we're trying to pretty much make things just easier.
and really our whole goal is the UIU X and crypto. It's pretty awful still. I know it's been quite a few years now since really the first wave of products. To your point about one weighted voting essentially, so it doesn't matter if you have $10,000 or $1 in your account, I think the solution to that is reputation-based systems.
One thing that we're really keen to do is utilize different remark pal, let's just say for NFTs where you can kind of start to build your own chain reputation. I won't say I didn't mention it on the side as well, is that one way we're approaching the problem of so many different tools, so many different options. Who's to say, I'm not an expert in the fields. I feel like I know quite a lot, but I think#
I'm not really sure what I'm going to do.
agree to come on board. But essentially think of if anyone is familiar with the Shopify App Store or the Square App Marketplace, very similar concept where, you know, societal is the backbone is the operating system. It is the platform that you guys can run your community on. But if you say I wanted to add a reputation based system to maybe avoid one of these problems that you're talking about, right, we're saying, I myself
for maybe a bad actor, let's just say, had five or six different wallets to get, or maybe even 10 plus wallets to get more voting power. And the specific instance and the parameters you guys have set, maybe we can go to the shopwap store and find an add-on that essentially would solve that problem. So we're not looking to build every single product ourselves. That would take far too long if our
resources. What we want to do is become that home base for Internet and Native communities. So that, you know, SORIC can kind of mix and match, use the site for on-chain governance and different member management and referendums and different voting systems, right? But then on the other side of things, maybe you want to create some sort of or use some
sort of reputation-based system where they can essentially contribute in a positive way to the dower or the community or whatnot. Then you can start to build up your reputation over time. Then maybe that's how you actually can gain more voting power in the future. That's just one example. There's so many different ones.
Hopefully that makes sense. Yeah, that's a good solution. Yeah, that's amazing. I want to ask you about the why you decided to build on substrate poll-covered and not in other language or blockchain, for example, in our solidarity.
That's a really good question. So I mentioned a little bit earlier. So I'm a gram and myself in building on substrate with substrate different substrate based projects for the past couple of years now. Maybe even closer to three years or so now. But the biggest thing for us is that number one, it is really quite an amazing developer kit essentially to build out.
Build your own chain, so many different palettes. The palettes system is awesome. I'm not the technical founder here, that would be Graham. But just from the highest level, one thing that we really disliked really in Web 3 is that if I wanted to go, so let's just say we're building to SIDLE on as a layer 2 Ethereum based
chain called a governance scaling solution in a sense. So maybe a good example of the MAT or even just a little to like polygamist to say. So say we decide I'm part of the Sora, with the party you guys essentially are this community. Say we don't want to deal with different gas feeds, which obviously was a problem during the bull market. I'm like, okay, let's go use a side
and L2 essentially, which is connected intrinsically to the main kind of each chain. Now the problem with that though is that what we've seen and I'm part of quite a few different groups as well that kind of went through this problem and the reason why we both sitle is that we want to maybe we'll redeploy our DAO or whatever onto this L2 chain that
We should be penalized having to go and buy another token to pay for gas for the decision making of our group essentially. So the way that we've engineered is that, in this case, we will be a revenue generating product where the community itself and the treasury
will pay a monthly subscription fee, so software is a service subscription, and then everyone on the actual platform, all the community members like within us, we'd actually be able to just do everything on chain gas free. So we don't have to buy the sial token itself. The only thing that's going to be happening is that we're paying or that the
the trade itself is paying for the subscription service. That's another thing that's really only possible to substrate and being the control of the price structure of your own chain. We have a similar solution, well a different solution for that. You can actually swap to Zool
or without needing any gas and the XO or token so you can just bring any token to the SOAR network and then pick up some Zorvoid your there you don't have to get up from the sex first or anything like that once you have some money on the chain you can just swap the XO or for and pick it up when you're there so that's our solution for that gas issues
I was going to ask, what's your solution to stop spam so you're going to have gasless transactions? Yeah, so good questions. So like, docks and spam and so on like this. So I'm really have to run the
parameters on that one, but the idea there is that we'll have filtering systems so people can't just spam hundreds of transactions essentially, so I'll make sure that the throughput is enough to handle that. So not quite there yet, from a live chain perspective, that's not going to be something that we're going to be obviously monitoring and everything.
Yeah, interesting. So can you just break it down from me again? Say what we wanted to use the title for Farming's Dow because we like the tools you built for the government structure. How would we go about that when it is launched in the coming weeks?
Yeah, so good question. So this first kind of phase I was actually going to ask you guys in the end of the call, but how you kind of brought it up. So right now we have I believe six design partners across different and a team communities, you know, protocol levels, so you know, both each and also substrate based ones as well. So we're kind of trying to do so. Why do
net for this kind of space. So, you know, we'd be very happy to kind of have you guys on board to test the product in about a month here. But, you know, from, from your eyes example, see if there's an existing token contract, you know, totally easily easier, I would say, sorry, with substrate-based, if you guys are substrate-based kind of thing. Yeah, so simple.
contract essentially, no code setting up kind of things, so the admin is of the Dow essentially, I don't know if you guys have, obviously a councilor which sounds like you do or a parliament like you mentioned, it be as easy as essentially it would take you less than five minutes essentially to kind of onboard onto the test set basically which is
closed door right now and then you'll be able to use everything that we built thus far sort of thing. You know, it will be token gated of course, right? So like there will be a checker essentially if you're community or you down members essentially have the token that kind of grants them access there. And it's as simple as you would not take all members would not to paint a gas. So we're really trying to
I'm sure you can sense a theme here. Really trying to make it as user friendly. These are experiences from this possible essentially. So, to simplify a little bit, you'll just, if we go to your network, you'll just check our wallet on SoR network, make sure to require the amount of tokens are there. And then if it matches, then you're from it to vote.
Yeah, that is correct. Yeah, so the setup process will take like I mentioned, you know, maybe less than 10 minutes. It's kind of thing for just to get the chat. You guys right onto the platform and then yeah.
So I just have one last question. You think it'd be any difficult because so difficulty as sore as a live network. It's not a paratrain. No, it's a style pop firm. We will be able to use by like I'm
mentioned. We retrofitted the Polka.gov V1 essentially right like the first governance system that we've been using for quite some time now to be readily available for not just the pair change now. It will be available for all communities. It doesn't matter if you're a pair change, a social group, a DAF essentially building
And I think that if you think about it, anything that's like tokenized or in the future, maybe not even tokenized, we think it's not a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or a tokenized or#
is a better option to use the tech that we're building essentially. So, no, there's no issue with that and we'd be happy to have you guys afford. We've done quite a lot of stuff in the last few years. >> That's awesome. >> A little while here, we went through on Accelerator last fall, LR Ventures, when you're kind of building that out, so I'll raise a little bit of capital there.
Currently, very recently we got accepted the Berkeley Blockchain Accelerator, which they run once a year, and I think that 400 applicants this year, they only 11-16 teams. It's working with them, and they've been awesome so far. The main focus there really is to take the summer here, starting in May, really refine these
the first test net, you know, with hopefully 10 plus partners. Maybe you guys as well, which is not interested. And then what we'll do as well is we'll be running an incentivized test net as well, you know, in the latter half of the summer there, all leading up essentially to the pair chain bids right there and, you know, go from there and launch our live product.
That's all. Yeah. Yeah, sounds exciting. I definitely like to be involved in the testing. For sure, it's something I'm actually quite passionate about because it's really what I got into cryptocurrency is that they trust in government and their decision-making, decentralized decision-making.
That's what brought me to crypto. So yeah, it's really my really why I'm here. And there was an interest in talk at the Saudi economic forum. We had a guy on he he called himself a recovering politician, uh, Terrell Borucius, his name. And a lot of what he talked about was was that the actual people who are running for governor
usually who want to be politicians are usually not the people that you want to govern they're not usually the type of suitable people to govern they're usually more ego-tistical and self-driven and stuff like that so he proposed to use a certification-based government so I
out of, you take a random selection of the populists or out of your community and you pay them for their time and they get together and do the research and maybe we would help us in researchers and that group, if it's randomly selected and there's enough people in it, it will represent the wider community.
That's super super interesting. I think governance might not be the sexiest topic I would say in a sense, but I'm sure everyone is called in one way or another has been affected by some sort of governance based mishap, even looking from a high level example, like look at SPF, all these things could have been fixed.
using some sort of Web 3 or like blockchain kind of empowered governance based system, right? So that's something we're both passionate about at the site of building out and I think that we're finally ready from a dot-summit perspective as well to roll out that next generation of products, services, essentially.
that we'll hopefully drive new entrants into the space. New entrants using blockchain technology, right? I think that's why we might have lost the plot maybe in a sense back in during the bull market when money was rolling, money was free essentially, but now we've been building kind of in-science for a while and then we really just started kind of putting ourselves out
the world and I do think that the world needs something like what we're building in the side. So happy guys, happy guys on and we have a telegram channel so we'll look forward to getting your feedback. It sounds like you guys are quite knowledgeable about the space as well and so all that feedback is going to be valuable to build something really for communities. By communities for communities is kind of how
I think society can make governance sexy again because all of the current governance steps, a lot of them, they're very ugly and awkward to use. So I really think you can revolutionize the space and make it interesting again. A quick question, who designed your art because it's very beautiful.
Thanks. I'm pretty directed by myself, but the actual designer of the very talented designer that we know. I'm pretty smart. She's based in Ukraine, but yeah, kind of the art direction was, you know, the whole idea is a whole thing. Excuse me, a society three, right? Kind of a plan went through in a sense, but, you know, very
kind of a little bit like painting a line of solar punk in a sense right where like we do envision yeah there's crypto's born from like the crypto punk you know manifesto and you know very anti-authority and anti-authoritarian kind of rule which is you know I still really really vibe with that and everything and I think we all do but I think that you know there's enough doom and gloom
and in the space and in the world in general, we're really trying to bring a little bit of a fresh take. As you can see there, we're trying to bring forward more of a utopian future using our blockchain. That's exactly the two-guturistic utopia. It's quite a contrast to some of the other artists seen recently about
The futuristic world economic forum world we're going towards. So it's an interesting direction. That's right. I can't have that point. So that REC there posts this right in. We will be launching a quite limited NFT plane line of see essentially it will be that REC there, but a little bit of animation on it.
It's quite beautiful. That's actually a campaign we'll be rolling out in the next couple weeks here. So I mean, everyone is going to call if you want to fall societal. We'll kind of probably have a time all next week. We'll explain more in detail next Thursday there. But that'll be something that will be a quick form scenario essentially. And then it'll be a manifold claim essentially.
I'm probably gonna do on ETH just for now just because everyone has an ETH wall kind of thing, but there will be some future utility that will probably be baking onto it. I can't say too much now, but anyone just loves the art. It's something I quite love as well. Feel free to give us a follow and that will be something we'll be running and starting in May here.
Awesome bro, I'll see you there for sure. One more question from my side and will the site of these plant launch are talking and covenants open? Yeah, there are so there will be a token likely won't launch it directly right away. You know, it'll likely be in Q4 like you wanted next
the token actually launches. There will be an SCTL token as well. I don't want to obviously just for the chain security number one, but there will be other utilities baked in. So one cool thing that we're doing at the token as well is I mentioned that Shopify App Store for Web 3. Essentially the Web 3 App Store there, it's actually on our website and any product I believe there's a lock up of it.
Essentially, all these different apps that will be essentially able to deploy on our smart contract layer is the incompatible, like I mentioned. So, I actually have to state this style token. So, kind of a similar, we kind of took a lot of experience from the Parisian model itself, Saking.Rate to get kind of slots, essentially, very similar concepts. So, utility will be there as
as well like the styles I'm going to be able to use for the monthly subscriptions for just kind of rate essentially when we start calling revenue and a few other utilities as well. So yeah, that will be in the future and we'll also be like I mentioned running an incentivized test and everything like this. So yeah, lots of lots of things cool things on the pipe come before.
Awesome, bro. I'll be there for sure. We have quite an unallowing vision. I would say building the utopian future. You use the building, the governance tools and we're trying to build the economic system and yeah, in a few years we'll get there. So what you said is the town hall on Thursday meeting.
Yeah, so that announcement will go out Hey David probably in the next maybe tomorrow thing for when that is Yeah, well next Thursday we usually go monthly town hall, but you know a lot of really cool things a couple things we can't do yet But that'll things will come to light pretty soon here. I'm excited things for the dot equals the stem and so on and so forth Yeah, town halls
usually when we have the best communication with our community, but if you guys want to pause the title as well on socials, you'll see everything as well. Everything as well. It comes out. Awesome. So if anyone in the community in the audience has any questions for the guys if you want to put up your hand, you can get a chance to jump in. That's average
for me that was a beautiful overview of the project and I'm looking forward to the future. Adrian any more questions? Yeah just one it's about the Wall Street grants I see that you have the second face completed and you can tell us more I see medium article so that's cool.
Yeah, so we've actually secured uncompleted to two or three hundredth and grants. A lot of that was to do actually with I mentioned earlier retrofitting, you know, gubby once he's me to be useful by more than just the parachains. I was kind of what we were doing there and also building out a UI to interact with, you know, the open
We also have a Poker.TraderPosal probably coming out pretty soon here. Just to build up more tech that we believe the ecosystem, the dots on me, because it's in needs in a sense there. And the other things that I mentioned I can't really share just yet. But yeah, it didn't hard at work. We have an awesome Dev team, great CT.
and a few other guys that are developing the product and everything. We're wrapping things up here as we get closer and closer to product launch. I mean, I feel for you now. I mean, the media as well. If you guys were more interested, there's a nice tutorial as well on both completed grants as far as possible.
Yeah that's amazing. Yeah for me there is no more question if any of the community wants to make one. It goes amazing to me is social. Yeah. I want to see that that that that that soon.
Yeah, that's everything. Everything. Yeah, it was great to meet you now. I'm sure we'll cooperate more in the future.
That was good guys, looking forward to getting you guys on board on the test side and we can make an even better product. I appreciate you guys' time and everyone coming to listen and I will still be seeing more of us quite soon.
Okay, thank you very much. Adios everyone. Thank you all for joining and we will see you again next week with another awesome dot-sign project. And I love you. Yeah, enjoy a week and week everyone. Adios. Adios amigos.