Commonwealth and the Widespread Protocol had been created out of a rising have to carry totally different on-chain communities and initiatives collectively to facilitate collaboration and governance. It’s a one-size-fits-all protocol for various communities to debate, vote on, after which fund initiatives, all from a single platform. This allows customers and communities to maintain up with proposals, discussions, on-chain occasions, and important initiatives, in order that none are ever missed once more. 

What Precisely is the Commonwealth?

Commonwealth is already utilized by a number of outstanding protocols, corresponding to HydraDX, Osmosis, and Edgeware, together with a few of the largest names in DeFi, corresponding to Polygon and Terra.. Commonwealth is an all-in-one device to carry collectively totally different utilities of platforms, corresponding to Telegram, Snapshot, and Discord, in a single handy on-line ecosystem. This enables for seamless neighborhood discussions, decentralized governance, and treasury administration to be simply managed and facilitated. 

The protocol is already producing vital curiosity and secured investments from ParaFi, Framework, Dragonfly Capital, Balaji, Hashed, AAVE, Set Protocol, Osmosis, Marlin, and Web3 Basis, to call a number of. 

Simplifying Neighborhood Governance 

Commonwealth is making neighborhood governance much more manageable by bringing collectively 4 totally different instruments in a single software. 

• Off-chain polling/On-chain voting – Commonwealth lets you entry all individuals by means of a single platform, no matter whether or not you might be utilizing Snapshot, Native Layer-1 contracts, or COMP Governance contracts. 
• Crowdfund – By way of Commonwealth, you possibly can crowdfund new tokens and neighborhood incentives. 
• An knowledgeable discussion board – Boards on Commonwealth can help you focus on funding and different vital protocol selections. These boards are impressed by Discord, with built-in reactions and markdowns. 
• On-chain notifications – On-chain notifications guarantee you can all the time keep up to date about main on-chain occasions 

Thanks to those options, Commonwealth has a number of use instances. A number of the extra widespread makes use of are the next: 

• Communities – Communities can handle built-in boards by performing as Decentralized Autonomous Organizations (DAOs). Communities may also be divided into personal, public, and gated communities. Non-public communities consist of people who use solely their addresses as their identification whereas constructing initiatives, guaranteeing full privateness. Gated communities are the place token holders can use the tokens to train their vote and govern the discussion board. Public communities are the place the neighborhood carries out all governance relating to the protocol by means of a neighborhood coin. 
• Initiatives – Communities on Commonwealth can provoke crowdfunding campaigns which are just like Kickstarter funding initiatives. 
• Collectives – Commonwealth permits communities to type collectives that may pool capital for any venture right into a fund. 
• Bounties – Customers and communities can create bounties that permit them to earn NFTs and tokens as rewards. 

The staff behind Commonwealth comes with the experience of getting labored on and launched Edgeware, the primary sensible contract platform and decentralized protocol on Polkadot. 

Different Rivals 

Different “protocol administration” options are just like Commonwealth. These work on the identical precept of permitting totally different on-chain communities entry to a protocol, making it less complicated for customers and communities to debate, vote, fund, and frictionlessly take part within the protocol’s governance. A few of Commonwealth’s principal opponents embody: 

• Snapshot
• Tally
• Boardroom.

Whereas these instruments deal with a few of the points with decentralized governance, none of them are as built-in and full because the Commonwealth.

Key Differentiators

Facilitating Governance

Commonwealth was created to facilitate governance and the processes of all appropriate decentralized communities by means of its UI (consumer interface), which is simple to make use of and perceive and absolutely able to dealing with governance. Commonwealth comes with neighborhood analytics, off-chain to on-chain governance, customized branding, and notifications. All discussions on the protocol are performed utilizing threads, just like the functionalities supplied on Reddit. This format of discussions ensures that individuals are all the time conscious of important conversations, questions, and solutions circulating amongst each other. 

Neighborhood Profit

Neighborhood discussions on a single platform be certain that conversations are saved monitor of when transitioning from the ideation to governance part. Funding initiatives additionally turns into simpler by means of crowdfunding, treasuries, neighborhood collectives, and grant packages. Communities within the Commonwealth profit from gaining publicity to 1 one other and the distinctive skills of every neighborhood. If a neighborhood requests a particular skill, different communities on the protocol may also entry it, in the end sharing within the wealth. 

Protocol Silos 

Protocols utilized by communities are sometimes siloed and don’t have options like Markdown, API, and search engine optimisation help. Commonwealth removes the silos that isolate protocols, corresponding to Telegram and Discord, by means of integrations for bridges and webhooks. 

Anytime Entry 

Customers and communities can entry probably the most vital options of the protocol and different on-chain actions like voting and staking, regardless of which platform the protocol is constructed on. Commonwealth has built-in with a number of platforms, corresponding to NEAR, Substrate, Ethereum, Cosmos, and many others. Commonwealth can be particularly designed to be used by open-source initiatives and ecosystems. It additionally ensures and encourages this openness, permitting new members to find their purposes and protocols by means of search engine optimisation.