Web3 seizure of power: if you don’t issue tokens, we will DAO you

Even if someone has distinguished Web1, Web2 and Web3 with the functional “Read-Write-Own”, in the final analysis, we still cannot know what the Web3 world looks like. Fortunately, this “OpenDAO airdrop incident” is enough to give us a glimpse of the Web3 world.

“If you don’t issue tokens, we will DAO you” has become a popular phrase in the encryption industry at the end of the year. This statement originated from an airdrop by OpenDAO. On December 24, OpenDAO was launched and airdropped Token SOS to all users who have interacted with the NFT trading platform Opensea. The number of tokens obtained is related to the number of transactions and the amount spent by users in Opensea. The deeper the Opensea users, the more SOS they will get.

The SOS airdrop has resonated widely in the crypto market. According to Coingecko’s data, after its inclusion, the time between the highest and lowest SOS price in history was only one day. In just one day, SOS rose from $0.0000014 to $0.00001108, an increase of nearly 800%.

Web3 seizure of power: if you don’t issue tokens, we will DAO you

In addition to users’ desire for airdrops from Opensea, the largest NFT market, the Fomo (Fear of missing out) sentiment triggered by SOS is also related to Opensea’s Chief Financial Officer Brian Roberts’s statement on December 6th that he is “planning an IPO plan for OpenSea.” The news of an IPO that means that Tokens will not be issued has caused fierce dissatisfaction in the community. In order to calm the community’s response, Brian Roberts responded on December 8th: “There is a big gap between thinking about what an IPO will look like in the end and actively planning an IPO. We have no plans to conduct an IPO. If we have one, we will seek community support. participate”.

However, despite the popularity of DAO, OpenDAO is not a DAO in the true sense. From a pragmatic perspective, SOS is a Meme Token. Emotion shapes the value of SOS. People’s expectations for OpenDAO stem from their desire for Web3 and their desire for the profits brought by the Web3 world. In the end, the emotionally charged community chanted the slogan “If you don’t airdrop, we will DAO you” under the lead of OpenDAO.

Even if someone has distinguished Web1, Web2 and Web3 with the functional “Read-Write-Own”, in the final analysis, we still cannot know what the Web3 world looks like. Fortunately, this “OpenDAO airdrop incident” is enough to give us a glimpse of the Web3 world.

Is it Web3 or hype?

The OpenDAO airdrop has once again deepened the encryption industry’s desire for Web3. With the development of time, OpenDAO imitation disks appeared. MetaDAO and GasDAO will airdrop to users based on ETH transaction volume and Gas consumption, respectively. Although both have triggered a certain degree of discussion in the community, the community sentiment of being consumed no longer exists.

Although it is an imitation, we can also see some clues of the hype from the community movement of “DAO” Token-not-issued Web3 Products.” OpenDAO tells a good story. People often think that OpenDAO’s airdrop is a challenge to Opensea and is a kind of pragmatism. Some people expect OpenDAO to cooperate with Binance NFT Market or Coinbase NFT Market to open a new NFT ecological network.

However, as OpenDAO said on its official website, “SOS airdrop is to thank all NFT creators, collectors and markets for nurturing the entire NFT ecosystem. Special thanks to OpenSea for its leadership in promoting NFT transactions. In order to pay tribute, we chose The collectors of OpenSea come to the airdrop.”

Essentially, just like many Meme Tokens will give part of the total issuance to V God, CZ, etc., the fair issuance of OpenDAO is more like retreat, which is why we mentioned SOS as Meme Token above .

A good story does not mean that OpenDAO will replace Opensea, nor can it take away the power that the main body of Opensea has over the product.

Who owns the power?

In the readable and writable world of Web2, the control of a product is controlled by a centralized company. The power of life and death for products is in the hands of some groups. The spirit of Web3 is to deconstruct the center of power with a more open mind, allowing contributors to obtain profits that match their contributions during the process of decentralization.

In Web3 products, the power to control products should be controlled by product contributors, which is why many products reward early users through airdrops. However, as the number of people who use airdrops instead of actually using them increases, Web3 products will also set more complex airdrop conditions to reward in-depth users of the product, as is the case with the airdrops of Terra Name Service.

The airdropped Token can be used to participate in the governance of Web3 products. From the perspective of users, what people expect is not only the profit rewards brought by Token, but also the power of product governance. Governing products through the community is undoubtedly exciting. We can use the analogy of the Web2 unicorn company-if Facebook’s name change to Meta is the decision of all Facebook contributors and the Facebook user community, the feelings brought about by this situation will be extremely shocking.

The rise of community power

The decentralization triggered by Web3 will further promote the prosperity of the community. The function of the community will also be transformed from a product user group to a product benefit-sharing group.

Although people are worried that the decentralization of power will cause product decision-making and other behaviors to be unable to proceed smoothly, this is caused by the insufficient infrastructure of the DAO. With the construction of DAO infrastructure and the development of concepts, the emergence of efficient DAO may become an opportunity for the rise of community power, and it will also be the cornerstone of the real landing of Web3. Aragon, the largest platform for creating DAOs, has begun to promote the layering of roles and decisions in DAOs to further improve governance efficiency.

The essence of the power seizure movement is the rise of community power. The continuous development of the crypto market has promoted the awakening of community awareness. As one of the most important components of the product system, the community hopes to become the owner of power. Under the influence of Web3 ideology, the empowerment of products to the community is continuing.

However, the unconsciousness of many Web3 product power centers is one of the main obstacles to promoting their decentralization. Although the power center at the top of the pyramid is building Web3 products and participating in many on-chain activities, and even they will buy NFTs for social display, their thinking is still in the Web2 era. Just like Brian Roberts, the CFO of Opensea mentioned above, his first reaction when he joined Opensea was to “list Opensea IPO.”

This is also one of the main drawbacks of Web2-an individual or board of directors can have a profound impact on the organization according to its unique authority, even if it is against the interests of most people. In the stock era, the benefits generated by the company’s means of production are usually centralized and cannot motivate most community members.

The emergence of the DAO concept is the beginning of the rise of community power. Open and transparent operating rules and rewards and punishments have shaped a benefit distribution scenario that isolates power centers. The decentralization and flow of power clarify the common ownership and fair distribution of organizational power. In the future Web3 world, the community built by DAO will play a key role in it. And Web3 products that betray the community will eventually be abandoned by the Web3 community.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/web3-seizure-of-power-if-you-dont-issue-tokens-we-will-dao-you/
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