DARC, Decentralized Autonomous Regulated Corporation

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DARC, Decentralized Autonomous Regulated Corporation

Hey HNs, I am lidangzzz, a core developer and contributor to Project DARC. In simple terms, we have designed two components: 1. DARC is a company virtual machine that can be compiled and deployed on any EVM-compatible blockchain. It includes a set of opcodes and a plugin system. The opcodes correspond to the daily operations and activities of a company, including handling equity (tokens), cash, and designing and operating plugins. Plugins in DARC represent the company's bylaws, contracts, articles, or rules. Each plugin can approve or reject specific situations. Therefore, a DARC with a complete plugin system functions like a conventional shareholder company. Adding, enabling, or disabling plugins also requires adherence to existing plugins and rules. Additionally, DARC supports an infinite hierarchy of tokens. Different tokens are restricted based on voting weight, dividend weight, and different plugins, facilitating the creation of various assets such as Class A/B stocks, bonds, boards of directors, committees, executives, common stocks, preferred stocks, commodities, NFTs, and more. 2. By-law Script is the world's first programming language used to describe and execute laws. Users can operate DARC by writing By-law Scripts or design and deploy plugins. By-law Script features sweet syntax like operator overloading, allowing users to quickly draft various laws for DARC, such as anti-dilution of equity, Bet-on agreements, employee RSUs, employee salaries, employee options, bonds, boards of directors, independent directors, dividends, procurement, subscriptions, and other rules. In summary, our goal is to completely abstract traditional legally registered corporate entities from government oversight. In a world with only blockchain and smart contracts, we aim to abstract the legal system entirely into the DARC virtual machine deployed on the blockchain. We use the plugin system to fully express the consensus and constraints of major shareholders, investors, founders, executives, employees, and customers, transferring the entire operation, legal framework, and consensus of the company to the blockchain. This realization enables the creation of anarchist blockchain business entities to create value and provide services. We are open-source enthusiasts, believing in the power of open source to guide the improvement and security of the DARC project. We have already completed the basic architecture and whitepaper of DARC, but there is still much work to be done. We will release our mainnet and testnet at the appropriate time, allowing developers to test and explore the design and operation of anarchist business entities. DARC repository: https://github.com/Project-DARC/DARC DARC whitepaper: https://github.com/Project-DARC/DARC-whitepaper