Squads Beta Launch Announcement

Published on: 23.10.2021

Squads Team is excited to announce the two versions of Squads are coming to mainnet and Devnet on November 9.

📌 Squads v0.1 mainnet beta

Squads v0.1 mainnet will act as a multi-governance client for the Solana ecosystem facilitating decentralized on-chain voting for already established communities.

If you have already launched a token on Solana or have successfully completed the NFT drop, you can register it with Squads through the special admin tooling we have set up. After that, your token holders or NFT owners can connect their wallets to Squads and vote on the existing proposals or create new ones.

Squads v0.5 will finally allow the already established DAOs on Solana to have the missing governance client for on-chain voting and all their token holders need to do is just connect their wallets to Squads and vote!

📌 Squads v0.2 devnet beta

On the same day as v0.1 gets to mainnet, they are going to release v0.2 to devnet which will have all of the DAO primitives (deployment, voting, treasury) combined in one interface.

This version of Squads allows for deployment of private DAOs (the ones where the DAO controls the membership and needs to vote on adding/removing members). When these Squads are deployed, a mint of governance tokens occurs but they remain locked in the program dedicated to that Squad and are not liquid or transferrable.

These Squads could be used by gaming guilds or other large communities that do not have a token issued as well as being suited for smaller groups looking to coordinate for co-investment, freelance or hackathon participation.

Finally, Squad members will get access to the Vault (DAO treasury) which can be used as a multisig wallet controlled by governance, allowing Squad members to deposit and withdraw assets subject to a vote being passed.