Inspiration

When the creator of rDAI (redeemable DAI) asked me to integrate rDAI into Kickback (my event management dapp), I was hesitant to do so because any small change could potentially inject bugs. I can buy smart contract insurance to cover the risk such as https://www.nexusmutual.io but I have to pay high premium. That's when I came up with the idea of offsetting insurance cover cost with rdai compound interests.

What it does

The DAO in general holds a large amount of money which will have higher security risk. The hack idea is to integrate rDAI into a DAO so that the contract can earn 11% interests from DAO and we use that money to buy smart contract insurance from Nexus Mutual to offset the risk.

How I built it

We forked Moloch smart contract for smartcontract and subgraph and Pocket Moloch for the frontebd

Challenges I ran into

  • Moloch frontend documentation was out of date. I was initially try to configure Moloch frontend, but had all sorts of problem, so switched to frontend of Metacartel DAO.
  • Nexus mutual does not have test environment

Accomplishments that I'm proud of

We didn't give up.

What I learned

  • How Moloch works
  • How RDai works

Deliverables

Our deliverables are all the customisation of the existing projects. To make it clear what we worked on, we will link to the certain commit or PR

What's next for Offset Dai

If this works as intended, we will modify MolochDAO and deploy as OrochiDAO to collectively manage sponsorship for DevCon5 side events.

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