As the number of DAOs and their active contributors is growing, so does the challenge of attracting new members to join the ecosystem, rewarding them for their work with a fair share of the DApps cash flow, and aligning them with the DAOs long-term vision.
While legacy companies manage salary payments and equity rewards based on legal contracts, decentralized anon DAOs use smart contracts. Basing a payments streaming platform on smart contracts allows us to automate DAO contributor payments, while benefiting from the transparency and composability of the crypto ecosystem.
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a decentralized payments streaming platform that allows any DAO to automate their contributor payments, and their token vesting schedule.
Furo is Open Source and built in a modular way, to allow anyone to modify the DApp to plug in to their existing DAO tooling. As first integration, we add Furo to our token launch platform MISO — allowing anyone to launch a new token community, fund it with liquidity that in turn rewards contributors to upgrade the project.
Here is what you can do with Furo:
🤖 Automated DAO payments and vesting
Payment streams: Furo lets you set up payment and salary streams for contributors: DAOs usually pay their members on a pro rata basis over a fixed time period, which represents a regular admin job. Furo aims to free DAOs from such processes, by automating them using smart contracts that distribute funds linearly over a set period of time, while giving admins full control over updating the streams.
Token vesting: To align contributors around shared goals, DAOs usually issue vested tokens to their contributors — similar to startup options in the legacy startup world. Usually, they recreate and redeploy their own vesting contracts. Furo saves them that trouble, by giving them a slick UI to easily see their vesting schedule and progress.
Integrations and composability: Furo minimizes admin work by integrating with your existing DAO or DeFi tooling — Eg. Auto-swap tokens when claiming salaries. The DApp also allows users to create different types of streams, such as streams which cannot be canceled.
MISO integration: Furo is also complementary to our other products like MISO, where projects can lock their salaries or create a vesting for the team. This brings more transparency around the project’s treasury and hence a smoother auction.
NFT positions: Furo tokenizes each stream receiver’s position as a NFT. This allows our users to utilize their future payments in lending and borrowing money market protocols, to eg. borrow stablecoins against their stream.
Passive income: All Furo sub-products are built upon Bentobox. All the capital stored in Furo will earn yield for the users. Providing much more capital efficiency than competitors.
Multichain: Furo will also be Multichain, like all sushi products, catering to users across all EVM compatible chains, like Ethereum, Arbitrum, Polygon and Avalanche.
Sushi ecosystem: Furo is fully Open Source and integrated into the Sushi ecosystem.
Bento TVL boost: Every stream deposited into Furo boosts TVL for Bentobox, providing more capital for deployed strategies. This will enrich the Bentobox ecosystem and ultimately benefit all Sushi users.
👉 Use Furo at https://sushi.com/furo !
👩💻 Develop with Furo
Furo is fully customizable. It can be tailored to any DAOs or user’s needs, with support by Sushi core engineers. Read more about developing on top of Furo in our documentation at https://github.com/sushiswap/furo
📱 How to use Furo
Here are two examples on how to use Furo:
User Bob has 2m USDC he wants to convert to TOKEN, the problem he is facing is that on almost all Dexes there’s a lot of slippage. Aside from slippage he also can’t find any exchange where he can connect his XYZ wallet with.
Furo solves these problems by automating your token trades: Furo lets me take my salary out every 30 days and invest it in Kashi. It also works with more complex strategies like, taking my salary out every 30 days, and putting it as collateral on Abra, taking a loan out of it, and adding the assets to Kashi.
🦄 Comparison
Compared to similar onchain streaming services like Sablier, Furo is both optimizing the code base and providing a more advanced feature set. Furo is made more composable, by tokenizing each streaming channel as a NFT. This NFT allows Furo users to utilize NFT lending and borrowing markets to further automate their streaming processes.
Here is how Furo compares to similar services:
🚧 Roadmap
After our code audit and user testing is done, we will host bounties for improving Furo and integrating it with other DAO tools. To make it widely available to DAOs, we will integrate Furo into Gnosis Safe.
Sushi is building a comprehensive DeFi ecosystem with AMM, leverage & margin trading platform, token launchpad and NFT artist platform. Follow our socials to keep up with our product launches and find out more on how you can make the most of your cryptocurrency assets with Sushi’s secure and powerful DeFi tools!
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