Core Positioning

A modular governance and community management platform aimed at solving the problem of fragmentation across chains and protocols. Its vision is to become the "governance layer" of the Web3 ecosystem, allowing DAOs and communities to manage all their activities across multiple blockchains in a unified interface.

I. Core Summary and Investment Logic

Core Investment Theme:

Common targets an increasingly severe pain point in the Web3 space: governance fragmentation. As projects deploy smart contracts on multiple chains, utilize various DeFi protocols, and hold multiple asset pools, governance becomes extremely complex. Common aims to be the ultimate operating system for DAOs by providing a unified "governance inbox," modular governance tools, and a cross-chain execution layer. Investing in Common essentially means investing at the intersection of "specialized DAO tools" and "cross-chain interoperability."

Current Status:

The project has launched its mainnet, the token $COMMON has been issued, and it has established deep collaborations with several mainstream DAOs and chains.

II. Technical Architecture and Innovation

Common's tech stack is designed to seamlessly connect governance decisions with cross-chain execution.

Modular Governance Modules:

• Composability: DAOs can combine different governance modules like building with Legos, for example:
• Voting Module: Supports token-weighted voting, one-person-one-vote, quorum voting, etc.
• Fund Management Module: Multi-signature wallet integration, flow payments, budget management.
• Contributor Management Module: Credential gating, contribution tracking, compensation distribution.
• No-code/Low-code Setup: Lowers the barrier for creating and managing DAOs.

Cross-Chain Execution Layer (Core Innovation):

• Problem: A DAO with a treasury on Arbitrum, deploying NFTs on Ethereum, and participating in DeFi on Solana needs to vote separately on different platforms like Snapshot, Tally, Realms, leading to a disconnect between decision-making and execution.
• Common's Solution: Through its cross-chain execution layer, DAOs can initiate a vote on Common, and the results can directly trigger actions on any supported chain. For example, a single vote can simultaneously approve: funding a grant on Arbitrum, upgrading a contract on the Ethereum mainnet, and depositing assets into a lending protocol on Solana.

Universal Inbox:

Provides ordinary members with a unified interface to view all governance proposals, tasks, and updates that require their participation or attention, greatly improving user experience.

III. Token Economic Model ($COMMON)

$COMMON is the utility token that drives the Common network, governance, and ecosystem.

Core Functions of the Token:

• Governance: Holders can vote on upgrades to the Common protocol itself, the use of treasury funds, etc.
• Protocol Fees: Some premium features or high-frequency usage may incur fees paid in $COMMON, which may be burned or added to the treasury.
• Staking: Stake $COMMON to earn a share of the platform's revenue or enhance voting weight within the ecosystem.
• Access Credentials: Holding a certain amount of $COMMON may serve as a credential to unlock specific premium modules or services.

Token Distribution and Release:

• Total Supply: 1 billion (1,000,000,000 $COMMON).
• Typical Distribution Ratio:
• Community and Ecosystem (~40-50%): Airdrops, grants, liquidity incentives.
• Team and Advisors (~15-20%): Typically have a longer lock-up period.
• Investors (~20-25%): Private round investors.
• Treasury (~15-20%): For future development and operations.

V. Risks and Opportunities

Opportunities (Upside):

• Real and Intensifying Market Pain Points: As a multi-chain world becomes the norm, the demand for cross-chain governance tools will grow exponentially.
• First-Mover Advantage and Partner Barriers: Collaborations with giants like Aave and Arbitrum not only provide use cases but also serve as trust endorsements, making it difficult for new competitors to quickly replicate their partner networks.
• Composability Potential: Modular design allows Common to integrate more tools and services, potentially becoming one of the entry points for Web3 work in the future.
• Clear Revenue Model: Charging large DAOs through a SaaS model (Software as a Service) provides a clear path for value capture.

Risks:

• Competitive Risk: Existing giants like Snapshot may retaliate by developing or acquiring similar functionalities. Blockchain-native protocols (like the Uniswap Foundation) may also develop their own solutions.
• Technical Execution Risk: Cross-chain messaging and smart contract calls are inherently complex, posing security vulnerability risks; any incidents could severely damage credibility.
• Market Risk: The DAO tools sector relies on the overall prosperity of the DAO ecosystem. If the DAO model itself does not develop as expected, Common's growth will be limited.
• Token Value Capture Risk: If most of the platform's features can be used for free, or if fees are not captured by $COMMON, the utility value of the token will diminish.