Attacking DAO people

It has been nearly three months since I first wrote a small article about BanklessDAO. In less than 90 days, the word DAO has experienced never tepid, to a little bit of heat, and then it has become popular recently. The day before yesterday, the red shirt directly changed the Twitter profile to create a legendary DAO, which detonated the emotions inside and outside the circle.

It is often said that the time density of the blockchain circle is several times that of ordinary industries. According to this statement, the time density of the DAO circle may be several times that of the ordinary blockchain circle. But if you go deep into the DAO, especially the hinterland of the community DAO. You will find that the evolution speed of some DAOs is truly terrifying compared to the speed at which the word DAO catches up.

Have you ever seen an institution that suffers from a major company disease within 6 months of its birth?

Have you ever seen an organization launch a revolution at the bottom of its own organizational structure in a short period of time?

If you are away for a few weeks, come back and have a look. I go? I don’t know each other, there are a bunch of new people, new projects, new channels, new meetings.

And all of this happens widely in various DAOs.

Today I tried to use some messy clips to show the aggressive self-evolution of the DAO people and the DAO field.

Reading this article requires a basic understanding of DAO. Although this article is not written for BanklessDAO, a large proportion of the space is related to BanklessDAO, so a basic understanding of BanklessDAO is required. If you are not familiar with it, please go to the official account to read the articles in September, and then come back to read.

6-month-old institution

In November, BanklessDAO (hereinafter referred to as BDAO) entered the 6th month of his birth, with 1,500 full members and thousands of other members holding guest passes. These people are more or less contributing to the DAO. The discord server has become more and more crowded, and the channels are filled with a lot of information. Not to mention the full server, even if it is a channel, you can’t keep up without watching it in a day.

A core member defined the following questions through interviews with a large number of contributors:

  • Contributing to DAO was once a joy, but now it’s starting to feel more and more like work
  • Contributors begin to feel disconnected from the organization
  • Resources become more dispersed, including capital, labor, and mental attention

Although it is still an attractive paradise for newcomers, the atmosphere is indeed a little different from before. And some of the early contributors who started from day one have already begun to have black bags under their eyes. (Analogously) If this situation continues, problems will occur in the community.

After a series of discussions, everyone came up with a solution. I don’t elaborate on the process, and I just come to the conclusion:

Next, make a significant adjustment to the priorities of the entire organization, slow it down, and establish a three-category workflow

  • Front of House-Externally-facing initiatives to spread Bankless’s mission and drive revenue.
  • Back of House-Internally-oriented initiatives to enable DAO to better organize, develop and coordinate
  • Member welfare-to enhance the culture and atmosphere, so that everyone in DAO can feel more relaxed and have more fun

BDAO used all its budget for external expansion, and starting from the next quarter, this budget has been split into three parts. 50% is used for external projects, 33% is used for self-construction projects, and 17% is used for member welfare.

Internally-oriented initiatives are mainly focused on

  • Better governance and strategy.
  • Talent acquisition and newcomer guidance.
  • Organizational financial planning
  • Coordination between guilds
  • Increase transparency and accountability through tools

Since then, I have seen a lot of discussions and iterative solutions for various existing processes. Establish more effective guidance and accountability. I don’t have the energy to write specific details and the discussion process. To sum it up with the old saying, it is hard to hit the iron, the community develops too fast, and the back-end is not strong enough. evolution!

Member benefits are focused on holding interesting and/or valuable activities and creating an interesting social environment in DAO. A good community is a cohesion of atmosphere and culture. If you lose these, you will end up shouting NB when you go up, and S. B when you go down.

In the past, opening the BDAO community meeting table was full of project meetings, guild meetings, serious and boring. Although the values ​​were highly coordinated, the community gradually became boring. And now, a high percentage of interesting events are beginning to increase, including some performances, mental health support, knowledge lectures, entertainment activities, IRL gatherings, and so on. The community atmosphere gradually changed from serious to relaxed.

Contributors, no investors

One of BDAO’s ongoing discussions is that it hopes to lower the threshold of L1 membership from the original threshold of 35,000 BANK (about 3,000 US dollars) to 10,000. This proposal was rejected during the discussion stage. But one of the core members mentioned him again, and wrote a lot of reasons and cited data to try to get everyone’s approval. Visual inspection will pass this time and will be submitted to the chain for formal voting.

The reasons are as follows:

BDAO aims to act as a permissionless community where anyone can join and contribute. Through membership (holding 35000BANK) and visitor pass (zero threshold) to achieve this goal. However, the current threshold of 35,000 BANK limits many people from becoming full members and leads to excessive reliance on visitor passes.

In the past few months, the number of official members has increased slowly, but the number of visitors who hold visitor passes and obtained more or less BANK rewards has increased rapidly in the past few months. However, most of them can’t get 35000BANK to become full members through contribution in a short time. This leads to frustration and loss of some guest contributors.

Attacking DAO people

Lowering the threshold from 35,000 to 10,000 can effectively improve this situation.

So will the lowering of the threshold cause those more than 1,000 official members to sell redundant BANK and harm the community?

A lot of discussions, just a brief conclusion

  1. Don’t be afraid, everyone is confident in BDAO and thinks it won’t happen. The fact is that most of the contributors who received incentives in the past kept their rewards, and only a few chose to sell because they needed to pay for living expenses.
  2. Contributors>Investors, even if it may cause some selling pressure, this should be done. With more contributors, fear nothing.

Starting from the next season, we will see a BDAO that is more close to the people and has a clearer promotion mechanism from a visitor to a full member.

Coincidentally, FWB continued to discuss similar things in the past period and tried to design solutions. Compared with BanklessDAO, FWB has never positioned itself as an unlicensed club. In their view, it is very important to ensure that everyone’s spiritual home is not affected by a large influx of people through the joint screening of the community. However, FWB does not want to build a club for the rich, but through committee screening to build a high-quality, sufficiently dispersed, and enthusiastic community. But with the increase in prices, the threshold of tickets has begun to prevent more contributors from this background from joining. So they also have considerable energy to open up more opportunities to brothers and sisters who have no money but have power without damaging the rights and interests of the holders.

Our governance structure has failed

This has nothing to do with BanklessDAO, but happens in a DAO called indexcoop. This is a DAO that promotes a product through the power of the community, but readers do not need to know and understand the indexcoop product. About a few weeks ago, they released a PPT on future planning, which stated shockingly “our governance structure has failed.”

Attacking DAO people

It’s too late to explain and conclude.

Indexcoop used to rely on a large number of on-chain votes for governance. The problem is that contributors feel that they are working, but they have no influence and no trust. They have to initiate a vote for everyone to confirm.

On the other hand, a considerable number of vote holders did not specifically participate in the contribution, and they don’t know what everyone is doing. A large number of frequent votes have consumed everyone’s enthusiasm for voting, and the number of votes is very low.

It’s time to make a change.

Simply put, introduce more soft consensus and reduce voting hard consensus. At the same time, there will be more community elections for core contributors, empowering everyone based on different contributions, but there are restrictions. So as to achieve a balance between contributors and stakeholders. The specific new plan is a very complicated plan, so I won’t go into details.

Because this is a nuclear bomb level evolution, a hugely complicated process has been developed, and it will lead to a large number of personnel and job changes. The community needs about 70 days to complete this evolution, and it is currently halfway in progress. When the process is over, it is expected to see a new DAO that has been reborn.

Both the budget system and the process system have been impacted

BDAO’s funding arrangement relies on quarterly plan to arrange and execute. The budget and purpose of each quarter are fixed (but some budgets will be reserved for unpredictable circumstances). At the same time, BDAO has a relatively mature application process for budget application and use.

But something happened more than a month ago, and an accident happened. There is a proposal (the specific proposal is not important), which did not strictly follow the standard process of the community, and the discussion was not sufficient, but the proposal was submitted to the chain for official voting, and it passed. This proposal is not a malicious proposal. The starting point is good, but his controversy is still relatively large. Although he finally passed it, it was the most divided proposal in the history of community voting.

The final conclusion is

  1. This proposal did not follow the process, did not fully discuss it, and exceeded the budget. This is not correct.
  2. But after the vote, we respect everyone’s vote and implement it, even if it has broken through the original budget system. Because this also represents the opinions of the community.
  3. Our process and decision-making system need to be refined and reformed to deal with more unexpected events.

In the process of reforming, a lot of wonderful discussions were generated. Eventually a plan was formed.

When the new DAO is in progress

DevDAO has also been introduced to everyone before, this is another group of fierce people, and has absorbed a lot of successful essence of BanklessDAO and FWB in the organization method. They passed the vote for Season0 27 days ago and officially entered the two-month season 0.

What I said earlier is that they have encountered a problem. They have not encountered a major problem, after all, they are very new. Not much to say, just go to the project status diagram.

Attacking DAO people

Well, this is a list of projects organized 27 days after the official start of construction. There is no need to talk too much nonsense, this picture is enough to illustrate the problem.

Concluding remarks

There are many observations of various discussions and evolution, but I think the few clips shown above are enough to show the attacking DAO people and the self-evolution of DAO.

All organizations need to constantly evolve, otherwise they will be abandoned by the times. But if the evolution of most commercial organizations is due to external factors, such as competition, market changes, and policy changes, only a few people can participate in evolutionary decision-making, and they are always restricted by core stakeholders. Then almost all the evolution of DAO is endogenous evolution, a large number of members driven by the same values ​​have participated in this process, and the speed is amazing.

Observing the self-evolution of DAO and the thinking that arises during the evolution process, discussing (chao) theory (jia) is a very interesting thing, and it is also the most encouraging thing I have encountered in participating in various DAOs. Working in a traditional company for more than ten years, I have led the acquisition of others, and have also experienced company mergers, delisting, acquisition by international PE, then sold, acquired by domestic capital, and sold again. During this period, due to changes in various external factors, the team has also experienced countless reorgs, but in my opinion, no reorg can really solve the problem. This is not evolution, it’s just shuffling, bold, lucky, chicken thief, good ability, shuffled better or at least not shocked, unlucky, not hugging the thigh, relatively dumb, Be marginalized out.

In DAO, all evolution is the crystallization of the unknown problems encountered in the exploration of the new world and the thinking of the community, which embodies the power of the community and the power of values. These evolutions make me believe that they will get better and better.

BDAO, which has just been born for 6 months, can already develop to this level, and it is still evolving rapidly every day. DevDAO, which has just started running for 27 days, has started so many projects. If you give them 5 years, will they really become a powerful giant organization while maintaining its values ​​and original aspirations? Such DAOs are not one or two, but hundreds, and soon there will be thousands, tens of thousands, or even more.

Will the best of them disrupt the existing business order and organizational structure in the future?

Is there a problem with DAO? Of course there is, and there are so many. But new things are problematic, and there are no opportunities where there is no problem. With the evolution speed of various DAOs, most of the problems will eventually be solved, thus ushering in the era of DAO.


This article is a bit hard-core, because of personal energy reasons, there is no way to systematically sort it out. The writing is rather messy, so everyone can read it.

Posted by:CoinYuppie,Reprinted with attribution to:
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