🏛️DAO & Governance
Providing rules, directions, boundaries & order in the Crypto ecosystem
DAO - Decentralised Autonomous Organisation. Member-owned communities without centralised leadership. Collectively owned and managed by all members of the organisation with no central leadership. DAOs are run and governed by the rules set in a smart contract.
What IS a DAO?
Key terms:
Governance token - SPL-Token that allows token holders to vote and submit proposals to a DAO. These SPL-Tokens are treated as "shares" in an organisation.
VC Fund - Venture capital fund. These funds fund private ventures & startups. In the context of Solana Startups - VC funds negotiate and purchase SPL Governance tokens.
Voting - voting on proposals submitted to the DAO. Voting power is usually based on the number of Governance tokens a wallet holds or their tenture holding these tokens.
Proposals - Specific actions and decisions proposed by DAO members to be voted on and executed.
Treasury - Community wallet which contains the Solana, Tokens & NFTs owned by a DAO. Usually a treasury is controlled by all members of a DAO. A treasurer can also be elected to mange the treasury.
Committee - Key members of a DAO that have voting & proposal power.
DAO VS Traditional Organisation
Benefits of a DAO
Easy to setup
No central leadership means responsibility is shared among members
No single member requires to work more than other members
Risks of a DAO
Governance attack - using governance power to “play/take advantage” of the system
Hiding business secrets/operations from competitors is a lot harder
Example Solana DAOs
Below is a list of DAOs currently listed on realms.today
Yield Farming DAO - Yieldvile - People need to come every day and harvest their yield. Yield Farming DAO have setup a Gamified version of staking
Family & Friends DAO - association (registered in the UK as a registered company) allows you to have a legal structure for your DAO & your DAO can own assets. Everyone who is a member
The Sanctuary - place where the “fix” rugged collections
GRAPE protocol - create discord based community for Realms. First dao to bridge the gap between realms.solana with Discord
Le DAO - NFT collection DAO - creating & investing in a curated list of NFTs
DAO - realms.today CIVIC (KYC for DAO members) Identity
Community token DAO - Governance token DAO (SPL token) To create CIVIC KYC (know your customer) - create new proposal & chose CIVIC from “transaction” drop down
Making a proposal - “Execute instructions” (custom transaction)
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