Club Creation Guide


- 17/08/2022

Club Creation Guide

All users can create or join existing clubs based on their preferences. By creating a club, you automatically become the club founder and gain the associated rights.

Click on the ‘Create club’ button and start your journey!

Create Club

There are 7 steps in creating your club.

We’ll guide you through them!

STEP 1: Basic Information

The first step in creating a club is entering some basic information and choose whether anyone is allowed to apply for membership in your club or you as the club’s founder need to invite new members.

Additionally, you can also connect your club with social networks and upload an image that will represent your club.

Insert Basic Information

Click on the ‘Next step’ and you will proceed to the governance configurations.

STEP 2: Governance Configuration

Governance configuration is related to how members’ voting and ownership rights are distributed and configured.

Choose one of the three offered models and clik on the ‘Next step’ to proceed with the club creation. governance models

STEP 3: Role Configuration

Each club consists of both mandatory and optional roles. Based on the chosen governance configuration, you will have different visuals shown.

In deposit-based clubs, the voting power of each member will depend on their contribution to the club’s Treasury, as well as their financial rights.

Choose the roles you want to have in your club by selecting them.

Role configuration

In a role-based configuration, members’ voting power is determined by the amount of votes you assign to each role in this step, while their financial rights are correlated to the deposits made during the fundraising stage, same as for deposit-based club.

In case you’ve chosen the NFT-based club configuration, you will first need to provide the mint address of the NFT collection you want to build your club around. Only minted collections that follow Metaplex token metadata standard v1.1.0 can be used for the NFT-based clubs*

Here you will also need to determine the total votes available for voting on your club’s proposals. Members voting power is determined by the number of NFTs from the chosen collection they have in their wallet.

When voting on proposals, they will need to select the NFT(s) from their wallet for the platform to approve their vote.

NFT-based clubs

In the next step, you will also be able to choose the roles you want to have in your NFT-based club.

* NFT governance model are built using the NFT voting plugin of SPL governance. The plugin grants governance power to NFTs based on the Metaplex Certified Collection they belong to. Metaplex supports certified collections from version 1.1 of the standard. Only certified NFT collections can be used for the NFT-based governance model.

STEP 4: Add Members

The next step in the club creation process is adding members. The club founder can add new members by entering their PublicKeys and assigning roles.

Voting power of each member will be determined based on the chosen governance model.

Add members

When members are added, invitations will appear to the users whose PublicKeys were provided. Once the invitations are accepted and transactions are signed, the users become members of the club.

STEP 5: Fundraising Configuration

The next step in the process of creation your club is defining the fundraising configuration.

The founder can set up the Cap for club’s treasury. Once the predefined hard cap/amount is reached, the fundraising is finished.

Fundraising configuration

At the moment, the maximum amount that can be fundraised is limited to 200 SOL.

This step can also be skipped and defined later.

STEP 6: Voting Configuration

In order for proposals to be executed, users need to vote. The club founder therefore needs to decide on the following configurations:

Voting configuration

This is the configuration that will be used for all of your future proposals if you do not set specific voting configurations.

Set the percentage of ‘accept’ votes that needs to be reached in order for a proposal to pass. Additionally, you need to define the maximum voting time. Note that the voting time can be set in the range from 7 to 30 days.

Withdrawal configuration

For the purpose of withdrawing funds and distributing the withdrawn amount, the club founder needs to set up the approval quorum and max voting time. If the voting configuration is not specified for the withdrawal proposals, the above set configuration will be used.

Trade approval configuration

Specific approval quorums for different investment ranges can also be defined as seen below. This voting threshold means that for each of the specified ranges, a different % of the approval quorum is needed.

In case you do not specify this configuration, the general voting configurations will be applied to your proposals.

Voting configuration

STEP 7: Club Preview

Before creating your club, you will be able to preview the club and the chosen settings. Each of the configurations can be edited at this point.

For the purpose of creating your club on Solana blockchain, you will be charged a Solana transaction fee that costs roughly 0.00025SOL.

Once the club is created, you will see all the details displayed as seen below:

Club Preview

You can also view your club’s details by clicking on the character icon in the top right corner.

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