After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

What is DAO? 

The full name of DAO is Decentralized Autonomous Organization, that is, “Decentralized Autonomous Organization”.

The organizational structure of a business entity can generally be a company or a cooperative, and the organizational structure of an encrypted business entity is DAO.

Simply put, the members of the DAO work for a common goal, each member has ownership of the economy and governance, and collaboratively creates and distributes value. Think of it as a cooperative on the chain.

In a DAO, members can put forward their own ideas; after voting for support, establish a workflow; allocate resources to complete the goal.

Does a WeChat group with only 10 people count as DAO?

Arithmetic!

Is a telegram group composed of a DeFi protocol with tens of billions of funds and a group of fund holders a DAO?

certainly!

Regardless of the scale, from the former to the latter, perhaps it was just a small chat that became an idea, then attracted more people, and finally realized it. This group of people kept coming up with new ideas and launching new projects, eventually becoming an economy.

If you want to realize an idea with your friends, or work together to accomplish a fun thing. You can form a DAO. Those who are not familiar with the world of encryption may ask, why not start a company?

This is your freedom.

But I think for the natives of encryption, their first idea is: go and build a DAO. Because it is as familiar and convenient to them as sending a circle of friends. For a person who is used to starting a company, he may first think of a series of things such as management, equity, regulations, and talent recruitment.

This is a comparison between a traditional company’s organizational structure and DAO:

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

Of course, this is only a commercial DAO. You can also establish a non-commercial DAO. For example, if you just share your hobbies with a group of similar people to gain a sense of belonging, then there is no fund management involved, and no need to be on the chain. operate. If one day, you want to make your own taste and interest generate economic value, then you only need to choose some management tools that suit you, and then realize it.

At present, the tools on the market already include organizational structure tools, incentive contribution management tools, group collaboration tools, task release and collection tools, financial management, voting, and so on.

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

It is equivalent to all the functional departments of a company can be realized through tools, you only need to focus on your business.

Look at Ethernet Square on the most well-known is how donor community MolochDAO develop it.

Moloch DAO Research Report

https://mp.weixin.qq.com/s/tEPvcF61jX5vsMEWU_ZClw

After reading it, you will find that collaboration is a great thing. No matter how nonsensical your idea may seem, as long as someone agrees and collaborates, the resulting economic benefits are amazing (check out the Dogecoin community). There are already more than 100 DAOs, managing tens of billions of on-chain funds. Including social, financial investment, service (software, legal, etc.), games. Of course, everyone can see these macro data. The most exciting thing is that their design really highlights the original Internet spirit of freedom and equality. Many projects such as compound, uniswap, etc., the initial design is not even profitable. You should remember that when the uniswap token was issued, 60% of the total supply was allocated to users. As long as you use it once, you can get a UNI airdrop worth 10,000 yuan at that time . Which company will share 60% of its shares with its users?

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

Many people will ask, how do you make money as a DAO?

Please! The native encryption world doesn’t need money at all. Think about the beginning of the birth of the world, people will exchange what they need. The native encryption world also does not require USDT.

There is a community called Bankless DAO whose philosophy is to build a society without a bank system. It has evolved from a media community to a more complex community economy.

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

This is an article written after visiting Bankless DAO. It shows how a self-organized community is like.

BanklessDAO-a valuable sample of decentralized collaboration

https://mp.weixin.qq.com/s/elW0QClGlJs5Mj0Z6k18uQ

The author said that because of this article “DAO For FUN” (their community) Discord swarmed many people. I am one of them. They have already planned to build an island in the meta universe. I want to say that many people are attracted to blockchain and cryptocurrency because of its free and equal native Internet spirit, but when I came in, I found that the industry was full of speculators. The first group of people who came in either took the initiative to leave the public’s field of vision, or closed in their own small circles.

After roaming around the DAO at home and abroad these days, I vaguely feel that perhaps the crypto native project in the Chinese world has just begun. As the underlying organizational structure of a crypto project, DAO is the key to whether it is crypto native or not.

Suppose, you want to do an encryption project, and you first register a company in the certain islands, and then recruit partners, HR, market operations, and so on. Your business may also be related to crypto assets, but this behavior seems to be less crypto native.

Some people say that native is not important, just make money. Do what you want to do if you make enough money. This kind of thinking is beyond reproach, and I have actually held this kind of thinking in the past two years. The market allows speculators, and the original Internet spirit itself is only supported by a small group of people.

But if you hate the existing capitalist economy and yearn for a more free and equal society, although from the perspective of human history, a truly free and equal society is difficult to achieve. In any case, any exploration in this direction should be encouraged.

Especially enthusiastic entrepreneurs, may wish to start with DAO. Uniswap , Compound and MolochDAO have multi-billion dollar donation plans. Instead of looking for venture capitalists with a project financing PPT, it is better to go to these communities to apply for donations.

Ok, let’s write about my feelings about visiting DAO, because I position myself as a creator, so I focus on creator-related DAO.

For example: Forefront, Bankless, GCR, DuckstarDAO, as well as domestic DAO For Fun and unknown DAO

Forefront is a media DAO that focuses on social tokens and DAOs. The website has been very mature. It contains almost all DAO and personal social token projects, as well as their token price data.

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

 Among them is a project called Yup https://yup.io/, “Collect everything about you, share your taste, and turn it into money.”

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

For example, many people in Douban like to collect funny emoticons, and the collection she created will be liked, favorited, commented, etc. by many people. In Yup, when someone likes or comments, the creator will get Yup tokens. The more people like it, the more Yup tokens they will receive. The act of liking and reposting will also be rewarded by tokens. The latest price of Yup is $0.28.

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

There are also entrepreneurs who issue coins to themselves, hoping that the holders will bet on his development potential:

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

On the surface, Forefront is actually no different from traditional media websites. The only difference is that it is a decentralized autonomous organization.

This is their work page: 

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

It can be seen that different channels have been set up in VALUE, and the curation channel is full of news links about curation:

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

 Daos is full of news links about Dao:

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

 After that, they will be summarized to the off-daily channel together, and then uploaded to the webpage:

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

Because the most important thing for a media is to produce content, Forefront’s main content is from external websites, as well as writer incentive programs:

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

However, there seems to be no “agenda setting” part of traditional media in Forefront’s work, so there is no page for voting decisions.

Bankless also started from the media. Now that it has more businesses, its proposal voting page will be more abundant:

After visiting more than a dozen DAOs: Chinese encryption native project may have just begun

It depends on how they work, see the article above.

BanklessDAO-a valuable sample of decentralized collaboration

https://mp.weixin.qq.com/s/elW0QClGlJs5Mj0Z6k18uQ

I have visited two domestic DAOs, DAO For Fun and unknown DAO, they are in the just-established stage. It’s just that everyone just got together because of such a desire to collaborate, but they haven’t found a specific business yet. But the core team is also quickly building a framework and recruiting members. The group is very hot, and it is very exciting to feel the different atmosphere.

In short, it is a feeling after shopping, next summer may belong to DAO. It may be a bit big to say this, but I still think that following the investment philosophy of finding value creators in the traditional world, to nugget in the foggy encryption world, you still have to find a crypto native. I want to ask what its value is. I want to say that exploring a new economic model is not creating value? And go back and take a look at those hot projects, which one is not crypto native, and which one does not have the spirit of native Internet.

Let’s stop here this time. Next time, I may look more specifically at what specific innovations or problems you have in governance decisions, fund management, and incentive rules and frameworks.

But I’m not sure when the next time.

Because for me, I will treat such innovative forms as DAO and DeFi as a social movement. I still devote myself to creation and live my life quietly, but I can’t ignore them. I will not be all in it like a revolutionary martyr, but I am willing to speak and act for the world I yearn for.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/after-visiting-more-than-a-dozen-daos-chinese-encryption-native-project-may-have-just-begun/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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