👋 Introduction

Schnoodle is a true trustless and progressive DeFi DAO that bridges key cryptocurrency concepts including meme, yield farming, NFTs, and multichain interoperability.

As an investor in Schnoodle, there are many opportunities for you to gain SNOOD tokens. Simply buy and hold (BARK algorithm), farm via the Moon Farming Platform, or earn via Dework.

Schnoodle was launched in July 2021 by a team classically trained in software engineering and financial markets, and who have extensive commercial and corporate experience in marketing, engineering, and financial industries. Fully based across Europe (from UK to Georgia), most of us are married and have young children, and we're fully doxed.

Schnoodle uses bleeding edge decentralised technologies to form a fully trustless and permissionless ecosystem which we call the (SCE).

The first major component of the SCE is the (FoS). This is comprised of two subcomponents:

1. The (CoS) are the Trustless Autonomous Governance (TAG) and Blockchain Automated Reward Kickbacks (BARK).

2. The (4PoS) comprise our Price Support Mechanism (PSM), Moon Farming Platform (MFP), Fully Autonomous Bridge (FAB), and our NFT Platform (Moontron).

The second major component of the SCE is the (UoS) which is growing constantly, and includes an eleemosynary feature and our SaaS systems which are in development. Our ultimate goal is to help other DAO projects utilise our innovative technology, and grow our DAO platforms through our SaaS systems.

📖 Our Story

"What's past is prologue." ─ William Shakespeare. The Tempest.

Schnoodle's story began when our founder, Jason Payne, also known within the community as Neo, realised that decentralised finance is the key to unlocking sustainable economies and enabling communities to grow and prosper together. However, Jason discovered a problem. The DeFi projects and DAOs on the market are not truly decentralised, and this needed to change.

At the time of launch in the summer of 2021, meme tokens were becoming increasingly popular, with some reaching incredible new heights never seen before in the world of crypto.

That’s when Jason came up with the idea of creating the world’s first truly decentralised, autonomous organisation using a meme backdrop to bootstrap initial adoption. After innovating the bleeding edge technology that created the foundations of our DAO today, Schnoodle Finance and our mascot Krypto were born!

Since the innovation started, it hasn’t stopped. With the release of update after update, our Moon Farming Platform and other disruptive technologies, Schnoodle quickly became the most advanced DAO project in existence.

Although it was great to be the only true DAO on the market, the Schnoodle core team soon realised that it's much more valuable to use our groundbreaking technology to help other DAOs reach their full potential.

This was when a new chapter began, and Schnoodle Finance was rebranded to what we're known as today, Schnoodle ĐAO. Being a meme token was never our true destiny, but it's a part of our story and is something that will always be remembered.

🚀 Mission

Schnoodle is devoted to providing truly decentralised platforms for our community to interact with while helping other projects unlock their decentralised potential through our SaaS (Software as a Service) system.

Ultimately, we want to expand the scope of truly decentralised technology and work towards a more decentralised world where communities can work together and reach new heights.

We believe that decentralising organisations will increase innovation and creativity, allowing members to communicate effectively while working remotely. We aim to set an example of how fair working within a DAO can be, and showcase how powerful it can be to others worldwide.

✨ Philosophy

❓ What is a DAO?

In the real world (IRL), most organisations are run by one or more people who make all the decisions based on what they think is best. But, best for whom? Them, or the people affected by the organisation. This could be a company, a charity, a bank, or even a political body. Yes, there are shareholders and citizens who can vote on changes. But usually, there is a degree of opacity, and no one truly knows how deep that runs. And that opacity could hide a policy that allows the organisation to take drastic action in circumstances the community don't know about. In crypto, we call this a rug pull. In traditional organisations, they exist but are hidden. We've seen this happen many times throughout history, such as banks freezing the accounts of its customers in a crisis, or the government taking the land of its citizens using some obscure law or hidden policy.

A DAO is a Decentralized Autonomous Organization. The clue is in the acronym. A DAO aims to solve the problem of traditional organisations by taking control away from a centralised group of people, and using decentralised technology such as blockchain to ensure full transparency in the form of code (smart contracts). But it also goes a step further by autonomising the way the organisation is run by using code that powers the governance processes.

👺 The DAO Problem

The problem is that true DAOs do not exist, and most DAOs hijack this buzzword to promote themselves as as DAO. From an ecosystem perspective, they run on blockchain, and blockchains tend to run autonomously. However, from a business architecture perspective, they require manual fulfilment of governance through a centralised multisig group. That group must be trusted to be active. Where is the autonomy in that?

📜 Code is Law

We believe a DAO must satisfy the DATA equation:

This means that the architecture of the business logic must itself be decentralised and autonomous, not just the ecosystem that it runs on (e.g., the Ethereum blockchain). This defines the nature of a true DAO: trustlessness. That does not preclude the existence of a trusted centralised element. But it creates a parity between the trustless and the trusted where the code is law, and the trusted group are passive overseers, not executors.

But don't forget, the membership of the trusted group is effectively governed by the code of the DAO as the owners and executors are stored in code and can be changed in code. That means the entire DAO runs by its code. But when an exceptional situation arises (such as a 51% attack or a critical opportunity), the elected trusted group can take action.

Schnoodle aims to fully respect the DATA equation, and this is enshrined in its technical architecture, which forms the first Cornerstone of Schnoodle, part of the Foundations of Schnoodle.

The Schnoodle Community Ecosystem (SCE) is comprehensive, but is structured in such a way as to be easily understandable and digestible by any would-be investor in SNOOD. The following block diagram shows this structure followed by a brief overview of the main parts.

🛸 Technology

A significant component of the SCE is our core technology which comprises the Foundations of Schnoodle formed from the two Cornerstones of Schnoodle and the Four Pillars of Schnoodle. On top of our core technology, we build the Utilities of Schnoodle. You can read about all of this in the following sections:

📚 Backlog

As a DAO, our backlog is completely transparent, and everyone can be a part of it. We consider this the cradle of our community. This means that, as well as earning SNOOD from BARK and , you can also earn SNOOD by completing tasks for Schnoodle. You can view our full backlog and get involved here:

All tasks are typically open to the entire community. This generally means you must be a verified member of our . All tasks typically come with a bounty reward, and anyone can apply to work on a task. However, it is important that you understand the rules around receiving payment, and the following sections outline this.

✅ Task Prerequisites

Before work commences on a task (before its status goes to In Progress), the description should be clear and complete, and should include acceptance criteria (usually a set of bullet points) which will be used to determine if the task is complete. Each task may be discussed in its own thread on Discord by pressing the Discuss button on the task, and each application may be discussed in a private Discord thread with the reviewer(s) by pressing the Discuss application button. Feel free to use this to discuss the task prerequisites with the team, and also while working on the task.

🎭 Social Media

Social media of course forms a huge part of our community, and the community should be actively involved in this. For this reason, any tasks in the with the social media tag may be completed by community members to submit social media posts for the team to then post on our various channels including , , , , and .

The following information should be referred to when making submissions.

Acceptance Criteria

Submissions must include visual content in at least one of the following formats:

• 1280x720 (16:9) also known as or HD

• 1920x1080 (16:9) also known as or FHD

• 720x720 (1:1) if intended for Instagram

Ideally, both 16:9 and 1:1 formats should be included.

The following should also be adhered to:

• Include a caption to go along with the content. All text must be in good English with no typos and correct grammar.

• Include relevant hashtags, and the cashtag $SNOOD for Twitter.

Please see our social media channels for examples of the quality that is expected. Submissions should adhere to our branding guidelines (link below). Our logo, colours, and/or mascot should be used wherever possible.

Approval Process

Visual content should be attached to the submission (file drag-and-drop is supported).

Multiple submissions can be eligible for a bounty. This is not a competition. If your submission is approved, a team member will schedule it to be posted to our channels using Loomly. If your submission is rejected, you can improve and resubmit no problem. Feel free to discuss your submission in Discord using the ‘Discuss’ button on the task where we can discuss why it was rejected and how it can be improved.

Note that if your submission is rejected, you can still see it in the activity feed on the task.

💲 Bounty Payment

The bounty on a task is based on two main factors:

• The size of the task as indicated by the task points. We consider task points to be approximately the following, but this can vary due to complexity of the task, also:

  • 1-2 points: between 1 hour and 1 day of work.

  • 3-5 points: between 2 days and 1 week of work.

The above is based on a medium skilled person. When applying for a task, you should consider your skill level in terms of quality of output when requesting funding. If you are a junior, then you may wish to mark down the stated bounty. If you are a senior, then you may consider marking up the stated bounty, but only if you believe the output would be above expectations.

Based on the above, when determining the bounty, we will apply the following rates:

• Hourly rate of $20-$50 depending on task complexity.

• Daily rate of $150-$400 depending on task complexity.

⏳ Payment Timelock

All tasks have the option for the bounty payment to be timelocked. A user can decide the length of this timelock any time up to the moment they get paid. A timelock will attract a monthly compound interest rate (Timelock Reward Rate, or TRR) which is generally agreed by the community. This value is maintained in Discord as the . Its purpose is to reward loyal contributors to Schnoodle, and to mitigate risk-reward ratio (RRR). Generally, it will be higher at the top of a bull market, and lower at the bottom of a bear market, as determined by the community. The following spreadsheet can be used to help you understand the payments you can expect based on different timelocks and SNOOD price action.

Feel free to download the spreadsheet from Google Sheets link , and follow the instructions given in the spreadsheet to experiment with different figures.

A timelock requires the user to lock their tokens in a farm on our using the Autofarm (AF) feature, a feature we consider to be cool AF. All you have to do to autofarm is enable this on your Ethereum account via the specifying the vesting and unbonding blocks which must total the agreed timelock. All subsequent transfers to your account will then autofarm with these parameters including the payment for your task. You may disable AF after payment if you do not wish subsequent transfers to be autofarmed.

Ultimately, we intend Schnoodle to have many use cases over time, and for the direction of this to be determined by the community (as a DAO) with guidance from the team. But some of our existing utility concepts are covered below.

❤️‍🩹 Eleemosynary

Not a word you hear every day, but Schnoodle is also a coin with a conscience. as part of Schnoodle's benevolent approach to crypto, a small percentage of all transactions are donated to a good cause agreed on by the community. This takes place automatically within the smart contract, and is known as the eleemosynary functionality.

🖥️ SaaS Systems

Some of the Foundations of Schnoodle will be available as Software as a Service (SaaS) for other DAO projects to use. The inception of this, and how it will integrate into SNOOD, is yet to be determined, but the intention is to allow creation of modular DAOs based on the underlying technology that Schnoodle is based on. These will be the SaaS systems that other DAOs will be able to utilise:

• Governance as a Service (GaaS)

• Bridge as a Service (BaaS)

• Farming as a Service (FaaS)

• NFT as a Service (NaaS)

🪙 Stablecoin (USnooD)

More on this to follow.

🎯 Target Audience

Following the mission and vision of Schnoodle ĐAO, it is only appropriate to detail the type of audience our message will be directed to. Below can be found our main target audiences:

Audience One (Token-Based)

• Male

• 18-30

Interests

• ETH/BSC

• Decentralised finance

• Virtual Hangouts

• Blockchain technology

Audience Two (Token-Based)

• Male

• 30-50

Interests

• ETH/BSC

• Decentralised finance

• Engineering and software development

• Long-term investments

Audience Three (NFT-Based)

• Male

• 18-30

Interests

• ETH/BSC

• NFTs

• Gaming

• Metaverse

Audience Four (Women-Based)

Approaching women-based audiences can be made by reinforcing content through positive female models in the members of the Schnoodle team like Queen Lisa on Telegram. Sometimes we may generate content from her messages on Telegram, to attract this target audience. Another way is to mention noteworthy women in the crypto space such as Randi Zuckerberg, Gwyneth Paltrow, Reese Witherspoon, Mila Kunis, Helen Hai, etc.

• Female

• 18-30

Interests

• ETH/BSC

• NFTs

• Metaverse

👂 How do we want to be perceived?

• Sophisticated

• Advanced

• Light-hearted

• Futuristic

💬 Who speaks for Schnoodle?

Krypto’s name is the name of Superman's dog in the comics, while also being a reference to the word “crypto”, which is a proper adaptation, given the nature of the project and its scope. He possesses all the qualities of our audience at once while remaining impartial in tone when needed.

Krypto is highly focused, futuristic in his thinking, sophisticated in speech and delivery, advanced yet simple enough to be understood, lighthearted when needed, and fundamentally unique. Embracing both the spirit of our team and our audience, Krypto embodies the knowledge and passion for driving through and bringing Schnoodle to the audience in the best possible way.

The most attractive side of Krypto is his quality of making others trust him; his speech is captivating and magnetic, but with a sense of longevity and not the spur of the moment. He gives meaning to his words and always keeps his promises, a true alpha of the pack.

Sometimes the light-hearted side dominates the communication to lighten the mood when the market is volatile. At the same time, he is reassuring to the audience, bringing the attention back to what’s crucial.

Krypto’s passion in life is to make truly incredible things happen. He’s fascinated by the possibilities of technology and is a firm believer in blockchain and cryptocurrency as the future of global finance. He believes that true democratization and accessibility - whether in art, money or other assets - lies in these revolutionizing new fields. And he wants to be a driving force in that journey.

🌐 How does Krypto communicate on the website?

The Schnoodle ĐAO website is where Krypto’s full-fledged personality is seen to shine. He details all the benefits of joining the project and can easily switch between his knowledgeable side and his more fun communication style. His language establishes him as a true expert and a true boundary-breaker, with his ambitious and innovative plans for the future of the Schnoodle ĐAO. Krypto's character's sophisticated, futuristic, and reliable attributes come across throughout the website, and whoever listens to him will feel as if they are about to take a fascinating and different kind of journey.

🔊 How does Krypto communicate on social media channels?

On all social media channels, Krypto is busy building and maintaining a community for Schnoodle, finding those other people who are as convinced of and excited by blockchain, DeFi, cryptocurrencies, NFTs, and memes as much as he is. The people who want to be part of the amazingly enterprising journey he’s captaining with Schnoodle ĐAO. He’s at his highest potential of engagement and conversational level here, although this doesn’t take from him continuing to establish himself as an expert authority on the topics.

He is highly focused on the conversations, spreads trust, and listens to his community’s voice with interest. There is no topic he shies away from, even getting personal at times, especially on the more community-related channels like Discord and Telegram, where being candid is often rewarded. This is what makes him truly unique and advanced; he can incorporate both the nerdy side of him and his outgoing personality in a fun way for everyone.

🗿 Cornerstones of Schnoodle (CoS)

Most DAOs use a governance voting system such as Snapshot for the community to vote for changes. Often, these are off-chain changes, but they can also be on-chain, namely smart contract interaction. All changes must be executed on-chain by the centralised trusted group which is usually multisig controlled. What if enough of the multisig owners disagree with the change to prevent the change happening? What if the multisig owners decide to make a change that the community voted against?

🔏 Trustless Autonomous Governance (TAG)

The first Cornerstone of Schnoodle is its Trustless Autonomous Governance (TAG) system which is a smart contract ecosystem that consists of a complex array of decentralised services, smart contracts, and an oracle for fully trustless and autonomous interaction with and upgradeability of the SNOOD ERC-777 token contract.

Learn more about the architecture of TAG .

🐕‍🦺 Blockchain Automated Reward Kickbacks (BARK)

The second Cornerstone of Schnoodle is its sophisticated automated wealth distribution system (inspired by ) known as Blockchain Automated Reward Kickbacks (BARK). Holders receive rewards constantly (without even farming) whenever there's a sell swap. This has been a tremendous success and garnered exceedingly bullish sentiment from the community that Schnoodle is unlike any other rewards-based coin.

Learn more about BARK .

🏦 Four Pillars of Schnoodle (4PoS)

💰 Price Support Mechanism (PSM)

The Price Support Mechanism (PSM) feature was introduced in SchnoodleV6 as a solution to one of the most notable facets of cryptocurrency: volatility. Especially during major market events such as a Bitcoin price correction, or other huge sell-off event. PSM aims to dampen this effect using a simple set of techniques without getting in the way of an open market.

Learn more about it here:

🌔 Moon Farming Platform (MFP)

Our sophisticated and neoteric Moon Farming Platform (MFP) is like yield farming, but far more advanced and fully decentralised. It is the first of its kind with automated regulation of rewards, a gamified yield system, flexible options, and unlimited strategies. It completely breaks the mould of traditional yield farming.

Learn more about it here:

🌉 Fully Autonomous Bridge (FAB)

Schnoodle's goal was always to be EVM-compatible chain agnostic. We have developed a system that allows it to be deployed by anyone on any EVM-compatible chain, and value will automatically be transferable between any two chains. This Fully Autonomous Bridge (FAB) is driven by the Polybridge Infinichain Meshnet Protocol (PIMP), with allows unlimited multichain interoperability.

Learn more about it here:

👾 3D NFT Platform (Moontron)

Still in active development, with our game art partner developing the 3D artwork, Schnoodle's 3D NFT platform (codename 'Moontron') will literally be a sight to behold. It uses a unique concept of backend rendering and dynamic IPFS persistence to allow dynamic minting of fully-customisable 3D NFTs including algorithmic rarity traits.

Go straight to the Schnoodle X DApp via the link below to farm your tokens, or read on to find out more about how it works.

Schnoodle's revolutionary new yield farming concept, introduced in SchnoodleV7, is more advanced than any other yield farming platform in existence, which is why we call it the Moon Farming Platform (MFP). It comprises a DApp where holders may farm their tokens, and a smart contract backend which uses our bespoke Automated Superyield System (ASS) technology. Our amazing ASS is based on three subcomponents:

• Autoregulator: This ensures that yield farming rewards are apportioned based on the ratio of each yield farmer's cumulative deposit to the cumulative total of all deposits. This provides the gross reward, which autoregulates via the _newCumulativeTotal function called on each farming activity.

• Vestiplier: This is a function of the deposit amounts, vesting blocks and unbonding blocks of all yield farmers which is used to calculate a multiplier based on a .

• Gamified Yield Incentivator (GYI): This is the sister functionality of the Gamified HODL Incentivator (GHI) that is part of the Price Support Mechanism (PSM). It is a mechanism whereby the farming fund that is used to reward yield farmers is effectively supplied from a 4% fee (the sow rate) on all sells.

• Lock Factor Governor (LFG): This comprises two settings on the smart contract, namely _vestingBlocksFactor and _unbondingBlocksFactor which are permil (‰) values. These may be changed via the changeVestingBlocksFactor and changeUnbondingBlocksFactor functions. The effect of these is to adjust the vesting blocks and unbonding blocks settings of all deposits dynamically at the point of withdrawal (withdraw function).

💎 Automated Superyield System

The Vestiplier uses a highly sophisticated algorithm that calculates the yield farming reward using the weighted average of the product of the vesting blocks and unbonding blocks (the lock product) where the deposit amount is the weight. The delta between the resultant lock product weighted average (LPWA) and any given deposit's lock product value is then used in a logistic formula to form a sigmoid curve which is used to calculate a multiplier between 0 and 1. This algorithm ensures that the sigmoid curve is always centred around a fair weighted lock product value to provide a fair multiplier which is then applied to the gross reward to give a final net reward that the yield farmer receives upon withdrawing their deposit.

The logistic formula is:

• x is the lock product of any given deposit.

• x₀ is the LPWA.

• k₀ is the ratio of k to the LPWA which controls the shape of the curve. The larger k is, the steeper the curve.

The sigmoid curve parameters k and a may be tweaked via the changeSigmoidParams function depending on the general farm population and the appetite of the community towards smaller and larger farmers.

The following chart shows a typical example sigmoid curve and the effect on the multiplier of adjusting the sigmoid parameters.

Although the algorithm sounds complex, the effect of it is quite simple. The more you deposit and the longer you farm, the greater proportion of the farming fund you receive (your gross reward). This is calculated linearly. And the longer you lock your deposit for both before withdrawal (vesting blocks) and after withdrawal (unbonding blocks) the greater the multiplier will be that is applied to your gross reward giving you your net reward. And to ensure that the farming platform is fair to early yield farmers, the calculated multiplier is locked into a deposit when it is created so that it does not decrease should later farmers choose to lock their deposits for longer and/or use larger deposits resulting in a higher LPWA. Therefore, the APY will not be adversely affected by this.

However, more farmers relative to the farming fund will of course reduce the APY due to the GYI, and vice versa. In other words, more sells causes the farming fund to get bigger which results in all farmers' APYs to increase dynamically. And more deposits causes the farming fund to be more distributed which results in all farmers' APYs to decrease dynamically. This is why it pays to farm for longer as your deposit is aggregated cumulatively on each block by the Autoregulator so that the length of time you've farmed positively affects the proportion of the fund you are rewarded with.

This entire set of mechanics and the constant push-pull between sellers and farmers gives rise to the gamified nature of the moon farming platform where the strongest are rewarded greatly.

🔥 ASS Burner

Those who are observant will notice that there is always a part of every reward that is never used, that is, the difference between the gross reward and net reward. One option of course is to leave this in the farming fund to contribute to the gross reward of remaining yield farmers (the Autoregulator). But this would of course permanently result in a proportion of the farming fund never being used until the last farmer withdraws.

However, this was seen as an opportunity to add an automatic deflationary component into the code. This unused part of the reward is instead burned. Therefore, every withdrawal results in a portion of the circulating supply being burned which are effectively tokens that originated from sells. This feature is called the ASS Burner (bum intended).

♾️ Logo

The Schnoodle logo is an "S" stylised in a way that makes one think of the infinity symbol. It contains two dog paw prints as a nod to Schnoodle's origins a dog-themed meme coin.

Standard

Variation 1

Variation 2

Backgrounds

Banners

Usage

When the logo is used, it is essential that these guidelines are followed to ensure a consistent brand image and clear legibility throughout all applications. The logo must always be free from obstruction and visual distractions. The minimum space around the logo has been defined. This visibly clear space should only change proportionally concerning the two possible logo variations.

• Do not stretch or deform the logo.

• Do not colour the logo with a gradient or any flat colour outside the brand colours.

• Do not place the logo on an image without using a contrasting colour.

• Do not outline the logo.

Size and Typeface

All versions of the logo may be upscaled proportionally to any size. Downscaling is restricted to a minimum size to retain legibility.

• Web: 6.5 mm / 18 px

• Print: 20 mm

• Typeface: Archivo Black

🎨 Colours

The Schnoodle brand colours have been intentionally chosen, so they should not be replaced or altered.

Based on , purple often signifies wisdom, royalty and creativity. It is usually connected with wealth and prosperity, and is also a colour that means respect. When used for branding purposes, it is best associated with "outside-the-box" brands, which is an excellent way to describe Schnoodle.

When using these colours, it is paramount that there is enough contrast between them to allow maximum legibility.

The gradients shown below are composed of the brand colours, and are the only gradients that should be used throughout the branding.

✍️ Typography

The primary font for titles and bold texts for the Schnoodle brand is Archivo, in the style called Black.

The font used for all other texts is Montserrat.

👀 Visuals

The Schnoodle brand visuals have been prepared with the idea to go precisely in line with how the brand wants to be perceived.

The icon style is also set with outlined icons, never filled, and used only in brand colours, gradients or black/white where necessary.

Icons and illustrations can be supplied by brand designers and illustrators when needed.

🐶 Mascot

The Schnoodle mascot is called Krypto, and the following template can be used for various angles when placing on memes or other visuals.

The Matrix theme is heavily used, not only visually, but also as part of the narrative illustrated in the whitepaper, memes posted on social media, the nickname of the founder, and more. The Matrix theme remains present in the brand and will continue to be around in memes throughout social media and the website.

The Price Support Mechanism (PSM) feature was introduced in SchnoodleV6 consisting of three subcomponents that work together to provide algorithmic resistance to major drops in price caused by sudden unexpected and external market conditions, or even ungraceful exits by whales.

🕵️ Sell Swap Detector

When Schnoodle was first launched, all transfers incurred fees. However, this was eventually found to be prohibitive for many of our buyers and existing holders due to the lack of adequate support for fee-on-transfer (FoT) tokens by Uniswap.

To address this, the Sell Swap Detector (SSD) was introduced that detects when a transfer is a sell swap, and to only apply a fee in those instances. This means that buys and even account-to-account transfers do not incur transfer fees! This also has the effect of reduced slippage requirement on buys, and lower gas fees compared to other reflective fee tokens.

📑 Technical Backstory

Schnoodle was incepted by our founder and CTO, Jason Payne, who decided to build Schnoodle because he was disillusioned with cryptocurrencies being released one after the other that had no real innovation, and were mostly copypasta smart contract clones of other tokens with a few tweaks. And those tweaks were typically convoluted layers of abstraction that usually benefited the dev team rather than the community.

And who's your development team?

While we have a small team of frontend and backend developers working on Schnoodle, Jason is the lead developer on the full stack, but the only one who works on the blockchain code - this is for security and quality reasons. He has an extensive track record working for many years in the investment banking industry as a senior software developer (see his ), and currently leads two IT divisions for the largest educational publisher in the Netherlands.

Jason's online name is , and this is where it gets interesting...

Tell me more...

In 2020, a DeFi project known as RFI was incepted by for which the contract code was developed by the notorious developer known as Morpheus. Do you see where we're going with this? 😉 The project became controversial as the code was copyrighted, but he eventually it. The contract can be found .

The key idea behind this code is that it contains a complex algorithm using lots of complex states to "reflect" a different balance to holders that includes a distribution of fees from other transfers. In other words, whenever the token is sold, a fee is charged and distributed algorithmically to all other holders.

Copies of this code were then used as the basis of , and the dog meme coin .

So, lemme guess. Neo wanted to kick Morpheus' ass?

In analysing this code, Neo noticed that there were numerous inexcusable flaws that simply indicated laziness and haste on the part of the devs. Absolutely no care had been taken to ensure holders were given the best deal in terms of gas fees and potential ruggability. There are functions that allow the contract owner to include and exclude addresses from the fee process at will. How is this fair to other holders? And the code for SAFEMOON was compiled with Solidity 0.6.12 which was already over 7 months old at the time of launch when Solidity was already at version 0.8.1. This may not sound hugely important, but it takes very little effort to use a more recent version, and this would have afforded some code tweaks that would result in less gas fees for holders.

Not only that, but the devs didn't even enable optimisation on deployment (as can be seen at the top of the contract page). Again, highly lazy, or just plain incompetence, and it's the holders who suffer.

HOKK was released more than a month later and made no such improvements. Just a straight copy of the RFI code, and another marketing campaign to get another batch of unsuspecting dog meme coin hunters aping into their dog poo coin.

OK, sounds like a gravy chain, but dogs love gravy on their food, right?

Perhaps, but Crufts dogs like gourmet. So, Neo got to work and set out to revise Morpheus' reflective algorithm stripping out any superfluous code, and ensuring that he would use the best techniques, practices and leading-edge technologies the blockchain space has to offer. And so, Schnoodle was born, like a cute little puppy ready to take on the world.

🧾 Smart Contracts

As already mentioned, existing RFI-based tokens and meme coins use archaic technologies and lazy or bad practices. And by 'archaic', that's unnecessarily using technology that's been superseded more than 6 months prior, and in blockchain, 6 months is of course a very long time.

🛡️ ERC-777 Standard

This is why Schnoodle uses the latest library which is a respected and established base on which any Ethereum smart contract worth its salt is based upon. Schnoodle goes a step further and leverages the preset contract ERC777PresetFixedSupplyUpgradeable which provides OOTB standard functionality, namely operators to send tokens on behalf of another address—contract or regular account—and send/receive hooks to offer holders more control over their tokens.

Hold on! Does this make Schnoodle the only ERC-777 dog meme coin in existence?

As far as we know, yes. And ERC-777 is fully backward-compatible with the , and therefore includes, by way of the OpenZeppelin base contracts, standard ERC-20 functionality such as transfer, approval, balance, total supply, and basic token details functionality, as well as burning and upgradeability of the contract (more on that ). This means that holders can be sure that the base contracts that Schnoodle subclasses are tried, tested and even audited.

And the way the contracts are deployed is as separate files under the same contract (not flattened), which makes it easier for you (if you want to) to focus on the actual business logic of the Schnoodle smart contract, and not have to worry about the basic standard functionality containing a potential exploit or other hidden "easter egg". What you see is what you get, basically.

Great you're using the latest tech. What about the Schnoodle code itself?

🏁 Latest Solidity

Indeed. Well, the Schnoodle smart contract is compiled with the latest version of Solidity (0.8.14 at the time of writing the last update) to ensure maximum efficiency in terms of gas fees, and to eliminate any possibility of known bugs in the compiler potentially leaving the contract open to exploit (unlikely, but the safety of holders' funds is Schnoodle's absolute priority, no matter how remote any given risk is). By way of a simple example, take the RFI code that SAFEMOON and HOKK both use:

sub is a SafeMath function to eliminate overflow errors. In the latest versions of Solidity, this gas-intensive operation simply isn't necessary anymore. And it means the temporary assignment in memory of x prior to calling sub is also not necessary because the subtraction assignment operator can be used which is already optimal without the optimiser running on it further (which, as noted earlier, the RFI-based tokens don't even enable). So, this is what Schnoodle does instead:

Same outcome, way simpler, far less gas. And quite simply, beautiful, lean and clean.

That sounds much better for holders. What about the algorithm itself?

🐕‍🦺 BARK Algorithm

The RFI algorithm comprises a lot of complex proprietary code which obfuscates the business logic. The RFI algorithm stores two sets of balances for holders: their true balance (_tOwned), and their reflected balance (_rOwned). Neo's code strips away this complexity and instead leverages the existing provisions of the OpenZeppelin Contracts, namely the ERC777Upgradeable contract, to store all reflected balances.

So, where the original RFI algorithm performed an effective burn on the total reflected supply by doing a subtraction in the code, Neo's code performs a true burn using the OpenZeppelin code directly on the recipient's reflected balance. The BARK algorithm therefore becomes simple but smart, and operates in both the transfer and balanceOf functions, as thus:

transfer

This comprises two transfers. One from the sender to the recipient, and one from the sender to the eleemosynary fund.

Each of those transfers is followed by a burn on the receiver's reflected balance:

balanceOf

• amount is the amount of tokens being transferred whether the main or eleemosynary amount.

• reflectedTotalSupply is exactly that, but is effectively reduced on every transfer due to the burn.

• totalSupply remains constant as this represents the total SNOOD supply and is never reduced by the algorithm.

The BARK algorithm basically ensures that transfer fees are dynamically redistributed to holders proportionate to their respective balances relative to the total supply. The algorithm rewards loyalty, so new holders will only benefit from the redistribution of transfer fees after they become a holder.

As the distribution of rewards to holders is completely automated within the smart contract on the blockchain, we call this the BARK algorithm. Blockchain Automated Reward Kickbacks. Kickbacks because it's the only word we could think of to make it into a dog-related acronym.

Very neat indeed, but does that mean liquidity providers are also subject to the same rules?

Yes, spot on. The lack of exclusion functions means that even the LPs and the liquidity tokens themselves are subject to the exact same fees and rewards system.

This effectively results in a completely fair ecosystem where anyone holding SNOOD tokens for as long as Schnoodle remains a going concern continues to be rewarded. And we will cover that in more detail as we talk about it becoming a true DAO in its future roadmap to ensure that Schnoodle grows for as long as the community wants it to.

So, you launch Schnoodle and add liquidity to Uniswap. How do we know it won't be rugged?

🔐 Locked Liquidity

Unlike other dog-themed and RFI-based coins, Schnoodle is intended to be trustless. This means that there is no requirement for you to trust that the team will do what it promises, as we ensure that everything is in the code. This ensures that you have the confidence to use Schnoodle without being concerned about promises not being fulfilled.

This is why we lock the initial liquidity for a minimum of 6 months in our SchnoodleTimelock contract which is based on the tried-and-tested OpenZeppelin contract. We hope by that time, there will be enough LPs to make the pool liquid enough for this to no longer be a concern. But if that's not the case, then we will of course lock our liquidity for another 6 months before the first 6 months lapses. And we will advertise this on all our channels including .

Locked liquidity for 6 months gives peace of mind for holders, and eliminates ruggability even further.

🔏 Locked Pool Tokens

Schnoodle uses the standard to allow us to deploy as many SchnoodleTimelock contracts as required. These are known as minimal proxy contracts, or simply "clones", and are created through our SchnoodleTimelockFactory contract. As well as liquidity, we use these clones to lock the community reserves. This is an extremely gas-efficient method to create timelock contracts, which means we can lock tokens from the community pool later for individuals such as influencers who will help promote Schnoodle.

Schnoodle is now truly destined to be man's best friend.

I'm sold. But you said something earlier about upgradeability...

🤖 Upgradeability

Yes. Well, the idea is that the state of Schnoodle on launch is not the do all and end all. While we have gone to painstaking measures to ensure the initial Schnoodle smart contract has everything it needs to function as a fully tested production-ready coin, we have big plans for Schnoodle because we believe it will change the face of dog-themed tokens into something far greater than others trying to join the gravy train.

We have made it upgradeable.

But the blockchain is immutable. Upgrading a smart contract means all holders must undergo a token swap, right?

Not quite. Using the OpenZeppelin contract, Schnoodle leverages the pattern whereby a proxy contract is deployed. All interactions with Schnoodle go via this proxy, and if you view the proxy contract on Etherscan, you will notice two additional buttons on the Contract tab: Read as Proxy and Write as Proxy. These show the ABI of the underlying implementation contract (Schnoodle) to which there is a link on the respective 'proxy' pages.

The beauty of this is that the Schnoodle smart contract can be upgraded in the future without changing the contract address because the proxy contract never changes. And due to the immutability of blockchain, the existing state can never be changed. We can only add new state.

And the linchpin to the proxy contract and the implementation contract is a third contract known as the ProxyAdmin contract. It is through this contract that all upgrades are conducted.

Wow; sounds great. But doesn't that mean you could change Schnoodle under the community's feet, aka a rug pull?

Well, that's where we've gone the extra mile (we're halfway to the moon right now, to be fair). Read on to learn about our Trustless Autonomous Governance (TAG) system.

👁️ Trustless Autonomous Governance

⏱️ Timelocked Governance

Governance has been implemented into Schnoodle in the form of the SchnoodleGovernance smart contract which implements the ERC-165 standard.

Awesome. How TF does that work?

This is basically a smart contract that derives from the OpenZeppelin TimelockController base contract. During deployment of SchnoodleGovernance, ownership of both the Schnoodle contract and the aforementioned ProxyAdmin contract is transferred to it so that any changes or upgrades to the Schnoodle contract are delayed by a minimum time period so that holders can view the change/upgrade on the blockchain before it becomes effective. If holders don't like it or find a problem with it, they can take action straight away, or we can cancel the change/upgrade.

I just buy dog tokens, dude; where do I even go to check pending upgrades?

Granted, it's not a simple out-of-the-box method, but once you know how, it's pretty easy, and you get to learn a little about browsing the blockchain on Etherscan. Just follow these steps:

1. Go the .

2. Select a recent transaction with method Exec Transaction and view its logs. If the logs include an event called CallScheduled, then this is a scheduled contract interaction. The next steps outline how to decode this log.

3. You will see in the target field an address. This is the contract being interacted with, and will resolve to the

Armed with the above, you can now view any pending upgrade before it is executed and becomes live. Once an upgrade is executed, this will appear as a CallExecuted event in the logs.

Cool. But you can still ignore us if we don't agree with an upgrade, right?

🔑 Multisig Protection

We would never do that. But as an additional layer of protection, we have added multisig to the process using . This means that upgrades cannot happen without multiple parties signing the change. Under the covers, SchnoodleGovernance is deployed with the proposer and executor of actions on the contract set to our where multiple signatory wallets are required for signing contract interactions such as upgrades. This protects you the holder against unilateral decisions or, even worse, leaked private keys like .

This all sounds really complicated. Explain again, like I'm a 2-year-old dog.

Right. So, the Schnoodle smart contract is deployed to the Ethereum blockchain along with three other contracts:

• TransparentUpgradeableProxy: All interaction with Schnoodle is done via this proxy.

• ProxyAdmin: Any upgrades can only be done via this contract which is owned by...

• SchnoodleGovernance: This executes 'upgrade' calls on ProxyAdmin but only after a minimum time period has elapsed (set in the contract). And this contract can only be interacted with by our Gnosis Safe address.

In the event of an upgrade, the following steps take place:

1. The new Schnoodle contract version (say, SchnoodleV2) is prepared with the proxy (this means it's not yet active, but ready to activate).

2. Then, the scheduled upgrade is signed off by the multi-signatory wallets at the and broadcast to the blockchain.

3. After the minimum required timelock has elapsed as per SchnoodleGovernance

With this comprehensive and highly sophisticated process, it now means we have two solid layers of protection for our holders: upgrade timelock protection and multisig.

I love it. But I still have a niggle. What if the whole team mutinies or goes rogue?

Well, in reality, this would only happen if we were savagely attacked by flesh-eating dog zombies, and we turned into said dog zombies ourselves bent on destroying all humans. But we hear you. Enter, Schnoodle DAO...

🚘 Trustless Autonomy

Besides BARK, this is one of the key features of Schnoodle that makes it the first true DAO of the blockchain where upgrades are only permitted if the holders vote in favour of them. This is a fully automated process that really puts the 'A' in DAO.

This makes use of the Reality Module, which is part of the within Gnosis Safe, through which any upgrade proposals must be made. This acts as the linchpin between two other platforms known as and .

Wow! Three more blockchain platforms in the mix. Schnoodle really is the dog's bollocks, right?

Right. But they all serve an important purpose. Our is where any holder over a defined threshold can make a proposal for anything (not just upgrades), and then the proposal can be voted on by holders. This voting mechanism is off-chain thus saving you gas. Voting is free unlike many other quasi-DAO platforms such as Aragon, DAOstack, Colony and Compound.

Free as in beer? But doesn't that come at the expense of a measure of decentralization?

Right. Which is where Reality.eth comes in. This is essentially a very cool escalation-game-based oracle that SafeSnap uses to allow trustless, on-chain execution based on the outcome of the off-chain votes.

The science bit... (Huh? I thought we'd passed the science bit!)

The Schnoodle Snapshot space is connected to the Reality Module using the Gnosis SafeSnap plugin via the Snapshot space settings where the address of the Reality Module is specified.

Umm, OK. So, can I finally make a proposal? 💍

Yes! Proposals to execute an upgrade (on ProxyAdmin), which can be done by anyone including you, can now be made via Snapshot where off-chain votes are gathered. Once voting has closed, a question is placed on Reality.eth asking if the proposal passed. This question is posed for 24 hours before the outcome may be finalised. The question may be answered by anyone with the placement of a bond in ETH.

If the vote is in favour and the Reality.eth question confirms this, Reality.eth can then be triggered (via a button in Snapshot, by anyone) to execute the upgrade via Gnosis Safe (which, as explained earlier, is connected to ProxyAdmin via SchnoodleGovernance which is the owner of ProxyAdmin which can therefore only be interacted with by our Gnosis Safe account).

This sounds brilliant! But aren't you worried about holders making a dog's dinner of everything?

Well, with great power comes great responsibility. But that power needs to be earned. So, in the beginning, while everything is autonomous, if we could see that something really bad was about to happen (e.g., an upgrade with a serious flaw that no one noticed, or some sort of holder 51% attack), then the multisig owners can step in and intervene during the 24-hour cooldown period and prevent execution of the upgrade. The admins of the Snapshot space may also delete proposals at any time.

Conversely, if we noticed something bad could happen due to a bug or a sour agreement with a community member or partner, for example, the multisig owners can interact with the contract or deploy an emergency upgrade to prevent this and protect the community.

Phew! OK, but then it's still not really fully decentralised then, is it?

Not fully, but once the team are confident that the holders are responsible, and there are enough of them to prevent malicious attacks, then the team will increase the multisig requirement and invite trusted and impartial community members to be additional multisig owners in Gnosis Safe to act as stewards. And also introduce a community-driven mechanism to change multisig ownership at any time via the DAO process. The team will also remove themselves as individual admins from the Snapshot space, and make the admin into a single multisig community account.

At this point, Schnoodle becomes the world's first truly progressive DeFi DAO, and we really put the 'D' in DAO.

Oh, wow. I'm so excited, my tail is wagging like a metronome!

For comparison, there are several well-known projects such as Yearn, Sushi, Balancer, Aave, DIA and Synthetix that use Gnosis Safe and Snapshot to gather off-chain votes, with a team "promise" that they will execute proposals voted for.

By using SafeSnap on top of this, Schnoodle becomes completely autonomous once a proposal goes in. This puts Schnoodle technologically way ahead of all the aforementioned projects, not to mention other meme coins. We are the first truly trustless and progressive DeFi DAO on the blockchain! And once multisig ownership becomes completely community-driven, then Schnoodle becomes truly decentralised and autonomous. 🚀