BrainDAO is the governing DAO of the IQ ecosystem. BrainDAO's mission is to build a more intelligent future through the IQ token, which powers a knowledge ecosystem including applications such as IQ GPT, an AI agent for blockchain knowledge, IQ.wiki, the world's largest cryptocurrency and blockchain encyclopedia, IQ.social, an AI-powered social forum for crypto news and insights, and IQ Code, an upcoming AI product created to assist people in coding Solidity and Vyper sets. The DAO is collectively made up of all IQ token stakers and governs the token.^{[8] [7] [6] [2] [1]}

Overview

BrainDAO was formed in December of 2021 with the mission of building a more intelligent future through the IQ token. The DAO manages the IQ token which powers the IQ.wiki platform. BrainDAO also acts as the treasury of the IQ token and is governed by IQ stakers. BrainDAO is led by Galaxy Brain Navin Vethanayagam and Chief Brain Officer Cesar Rodriguez who manage BrainDAO's team of designers, engineers, and project managers. ^[3]

On November 1, 2023, BrainDAO released IQ v3 which outlines new developments in the IQ ecosystem including the expansion of IQ.wiki, IQ GPT, IQ tokenomics, as well as upcoming new products like IQ.social and IQ Code. As a result of halvening, 1.5 million IQ are minted each day for HiIQ stakers starting from November 1, 2023. ^[11][14]

IQ.wiki

On October 11, 2022, BrainDAO launched IQ.wiki, the world's largest cryptocurrency encyclopedia. IQ.wiki is the flagship decentralized application of the IQ ecosystem. To cater to the growing demand for IQ.wiki to expand beyond just the English language, BrainDAO announced the launch of IQ.wiki Korea in February 2024. Users got the possibility to switch to the Korean IQ.wiki interface and have any article translated into Korean by AI. The team is planning to launch the Korean language support for editing as well as IQ.wiki China.^[15] For more information on IQ.wiki see the IQ.wiki page. ^[4]

IQ Token

On November 1, 2022, BrainDAO implemented the largest update to the IQ infrastructure and tokenomics since its launch in 2018. In addition to the launch of the IQ.wiki platform in October, the team launched BrainDAO.org and the brand-new BrainDAO IQ Dashboard. The IQ stakers also voted in favor of the new tokenomics model with the IQIP-14: New IQ Tokenomics for the New IQ.wiki Platform proposal. The new halvening tokenomics model tripled the rewards for IQ stakers and increased the rewards for early contributors to IQ.wiki over the next 12 months. In addition to providing greater rewards to early adopters, the new model made the IQ token more sustainable with IQ emissions halving every year.^[13] As a result of halvening, 1.5 million IQ are minted each day for HiIQ stakers starting from November 1, 2023.^[14]

On November 1, 2023, BrainDAO released IQ v3, an update and vision document for 2024. With IQ v3, the BrainDAO team plans on continuing to build out the IQ ecosystem. The aim is to expand IQ.wiki and IQ GPT as well as launch new products like IQ Code, the first AI tool for coding for blockchain languages like Solidity and Vyper, and IQ.social, the first AI-powered hub for crypto news which is already live. For more information see the IQ token page.^[11][12]

IQ GPT

IQ GPT is an AI agent for blockchain knowledge developed by IQ.wiki. IQ GPT focuses on providing real-time and contextually relevant information within the blockchain domain.^[10]

In 2023, IQ GPT integrated contents and data sets from platforms such as IQ.wiki's extensive database, DeFiLlama, Frax Docs, Binance Academy, DeFi Protocol Documentations, The Associated Press News, CoinGecko, Flywheel DeFi, BlockBeats, InvestHK and CoinNess.^[11]

In late 2023, the BrainDAO team introduced the IQ GPT Chat, designed to support Telegram and Discord communities involved in cryptocurrency, DeFi, NFTs, and related topics. According to IQ v3, released on November 1, 2023, the team's vision is to build a version of IQ GPT Chat for dapps and websites like decentralized exchanges, DeFi applications, cryptocurrency projects, NFT projects, data platforms, and more. For more information see the IQ GPT page.^[11]

Upon its initial launch, users were onboarded through a waitlist system. However, those staking IQ tokens (HiIQ holders) with a minimum of 100,000 HiIQ balance were allowed early access and could bypass the waitlist.

Navin Vethanayagam, Chief Brain of IQ.wiki, said in a comment to CoinDesk:

"Reading through a 1,000 word encyclopedia entry to answer a question is difficult and time consuming for users, and the GPT-4 search engine solves that as users can simply ask a question. At the same time, by making information search easier, the search engine, called IQ GPT, helps fight misinformation and makes onboarding easier for new traders."^[10]

IQ.social

IQ.social is an AI-powered social forum for crypto news and insights. IQ.social was launched by BrainDAO in November 2023 and is powered by the IQ token. The platform is a part of the IQ.wiki ecosystem, featuring IQ GPT, IQ Code, and IQ.wiki.^[11]

The platform is governed by HiIQ stakers who curate and rank all of the articles submitted to IQ.social. IQ.social was announced and launched as part of the IQ v3 update in November 2023.^[11]

IQ stakers can add articles and vote for the content of interest by liking an article. If a pending article receives two or more votes and has a HiIQ score of over 100k, it automatically gets published on the homepage of the platform. The HiIQ score of an article is determined by the total HiIQ balance of the users who favored the article. For more information see the IQ.social page.^[11]

IQ Code

IQ Code is an upcoming AI product powered by the IQ token to assist people in coding Solidity and Vyper sets.  IQ Code was announced as a part of the IQ v3 update by BrainDAO in November 2023. The platform is a part of the IQ.wiki ecosystem, featuring IQ GPT, IQ.social, and IQ.wiki. The platform is set to go live in 2024. For more information see the IQ Code page.

BrainPass

BrainPass is set to be introduced in 2024 as a part of the expanding IQ ecosystem, aimed at amplifying the utility of the IQ token. It will be structured as a subscription service, granting individuals and organizations improved access and enhanced features across a spectrum of AI tools in the ecosystem.^[11]

Subscribers of BrainPass will gain access to enhanced functionalities in various services such as IQ GPT, IQ Code, and IQ.social, and will also have editing privileges on IQ.wiki. Enhanced features for services like IQ GPT may encompass increased rate limits and access to forthcoming integrations related to blockchain and cryptocurrency market data. Additionally, BrainPass membership gives access to specialized integrations like Telegram and Discord bots for eligible project team members in the ecosystem, with eventual exclusive access for projects that engage in IQ staking.^[11]

IQ Gauges

BrainDAO is developing the IQ Gauges system to determine which projects will receive part of the token emissions. Inspired by Curve Wars’ impact on Frax, IQ Gauges aims to enhance the IQ token's value by encouraging projects to direct emissions to their respective token pairs. IQ Gauges will also integrate a vote market, allowing HiIQ stakers to participate in voting, with potential incentives from projects seeking favorable votes.^[11]

Since IQ gauge emissions are fixed and halve annually, governance can decide to allocate part of the protocol's cash flows or IQ tokens to gauge rewards in the future. This assurance encourages HiIQ stakers to lock their tokens for up to 4 years. Users who stake their tokens in a gauge contract can earn higher annual percentage rates (APR) based on their HiIQ holdings. Additionally, those who lock their deposited tokens for a specific duration receive an extra boost, allowing them to stack both boosts to maximize their APR.^[11]

Treasury

BrainDAO manages a portfolio of Ethereum, IQ tokens, stablecoins, blue chip NFTs, and other digital assets By September 2022, the BrainDAO treasury amassed over $2 million in Wrapped Ethereum and over $5 million in total assets. By February 2023, BrainDAO's treasury had reached a value of over $15 million. ^[9] The IQ token is backed by the BrainDAO treasury and the treasury is fully governed by IQ token stakers. In October 2023, the BrainDAO’s treasury has acquired 2,100,000 sFRAX through Frax Finance’s ERC4626 staking vault. Staked FRAX was released in October 2023, and as of writing, BrainDAO holds $2.1M sFRAX which is now the 4th highest in its treasury and the 6th largest staker in sFRAX. BrainDAO's treasury has been diversifying its portfolio, including holdings of other sFRAX stablecoins through the Time-Weighted Average Market Maker (TWAMM) on Fraxswap, along with other notable assets such as sfrxETH, cvxFPIS, cvxFXS, sDAI and more. By November 2023, BrainDAO's treasury had reached a value of over $20 million. ^[7]

NFTs

In March 2022, IQ stakers passed a proposal to diversify the BrainDAO treasury by acquiring Blue Chip NFTs titled IQIP-10: BrainDAO To Acquire Blue Chip NFTs to Distribute NFT Derivatives and Intellectual Property to IQ Stakers. ^[5]

In May 2022, BrainDAO made its first Blue Chip NFT acquisition Bored Ape #9665, a rare 4T pink fur Ape who the DAO named BrainApe who serves as the mascot for BrainDAO and IQ.wiki.^[3] BrainApe is officially owned by all IQ holders and BrainDAO is able to use the ape's IP to create derivatives for IQ stakers. BrainDAO is also able to mint and claim NFTs reserved for BAYC holders. ^{[4] [5]}

IQ stakers also voted to give Bored Ape #9665 the name BrainApe. The community voted to name the ape with their HiIQ from the following options: BrainApe, BrainiesApe, BrainyApe, and High IQ Ape. ^[4]

In August 2022, BrainApe became available for licensing on feature.io, a Web3 studio and licensing platform that has worked with Coinbase, Netflix, and more. BrainApe can earn licensing fees for BrainDAO by becoming the star of the film franchise, videogame, TV series, clothing brand, or advertising campaign.^[4]

In November 2022, BrainDAO announced that it had acquired two additional NFTs as part of its Blue Chip NFT diversification strategy. The DAO acquired Pudgy Penguin #2614.

In a blog post, the DAO explained:

Pudgy Penguins are some of the cutest blue-chip NFTs designed with the values of love, empathy, & compassion. Pudgy Penguins launched in July 2021 and quickly rose to prominence getting covered in a New York Times Column just one month later. The collection has grown rapidly over the last few months with the launch of a media arm, physical toys, and a clothing line after the collection. In July 2022, they became one of the first NFT projects to use SoulBound tokens, issuing their own SoulBound token truePengu to celebrate the first birthday of Pudgy Penguins. The Pudgy Penguins' positive vibes and mission of accelerating Web3 innovation through IP utilization and community empowerment is a perfect fit for BrainDAO and the IQ token. The mission and vibes align well with IQ.wiki’s goal of becoming the hub for crypto knowledge and education. We chose Pudgy Penguin #2614 specifically for his baby pink skin and rare pink turtleneck trait.

The DAO also acquired the Hashmask Gnostic. In a blog post, the DAO explained why they acquired the Hashmask:

Hashmasks were one of the first generative art NFTs to gain traction. The collection launched in January of 2021, with 16,384 unique digital portraits, created by over 70 artists globally. Unlike most NFTs, where the rarity of all traits is set out by the creators, Hashmasks have two layers of scarcity: the creators provided an explicit set of traits to provide general guidance to the consumer but also created implicit traits that have not been explained by the creators. The most unique trait of a Hashamask however is its name since no two Hasmasks can have the same name. Holders can give their Hashmask a name by burning Name Change Tokens (NCTs). We chose to acquire the Hashmask Gnostic specifically for its name. The word gnostic means relating to knowledge and comes from the Greek word gnostikos, meaning "knowing" or "able to discern”. Our Hashmask Gnostic is a symbol of BrainDAO’s commitment to knowledge.