What's A DAO? 👽

Many people have many opinions!

Are you one of those people? Would you like to earn riches, fame, and glory for your opinion? Then rejoice! Your time to shine starts now. Inspired by something @pet3rpan said sometime somewhere, we’re having a competition for the best 500 word description of DAOs. Recommended topics to cover include, but are not limited to:

  • What is a DAO?
  • Why do DAOs matter?
  • What’s next for DAOs after fancy-multisigs?

Your DAO descriptions will be judged by the Just DAO It DAO. Anyone is welcome to contribute, and and when you do you’ll be able to participate in the judging submissions. The rough guide for tributes is 1 DAI = 1 JDI, however, you can offer tribute in any the following tokens:

If there’s a DAO token you’d like to see added to the tribute list just drop a comment in this thread and we’ll see what we can do!

The rough expectation is that we will be accepting submissions until the end of the month (Dragon Quest :dragon_face:) and then we’ll pick a winner. The winner will then become part of (or at least have a stake in) many DAOs :eagle: :globe_with_meridians: :crossed_swords: :honey_pot: :sparkles: :octopus:

Feel free to ask questions, share drafts, and submit submissions here in this thread!

Note: this is being cross posted to many many places to get as many people involved as possible. If you see an awesome submission, please link to it in other threads so that everyone can check it out:

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DAO is a organizational concept found in Bitcoin and in the ancient cyperpunk movement. DAO stands for “decentralized autonomous organization”. In DAOism, Bitcoin was the origin of the whole DAO universe. DAOists believe that everything in the human economy from ideas to concept to products & services, will come from a DAO and will be managed by a DAO. When a DAO disappears, it’s energy (or community ) will be absorbed and/or re-birthed in a different DAO.

The DAO is a community force that can’t be named or described, which is the natural harmony within the community and the way the community lives together. DAOists think that if someone let go of egoistic intentions, they would be able to “move effortlessly” and create harmony with humans, animals, plants, and everything else. This harmony is the ultimate goal of DAOism.

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Wrote a brief draft about DAOs in my opinion. Sharing it here too.

What a DAO is

A DAO is an autonomous organization governed by hardcoded rules that lives on the internet,

  • with access to a shared pool of assets and funds that is managed remotely
  • with the control being distributed among it’s members
  • coordinated by achieving collective consensus.

What a DAO is not

A DAO

  • is not an organisation with the control being held or governed by a single authority.
  • is not run by a set of rules passed by some board of directors.
  • cannot live offchain.
  • is not managed with hardcopied agreements or official papers.
  • won’t have it’s assets & funds directly or solely managed by a single entity.
  • cannot pass on rules or decisions without acheiving greater consensus.
  • will not impose hierarchical authority over it’s members.

How a DAO is implemented

A DAO (Decentralized Autonomous Organization) is mainly built with the help of web3 technology, ethereum. And a DAO is characterized mainly by this 3 dominant, distinct and unique characteristics,

  1. Autonomous
  2. Distributed
  3. Decentralized

A DAO is made autonomous by the use of smart contracts that is precoded with a set of rules for running a DAO without any manual human intervention.

A DAO is made distributed by providing uncensored access to it’s resources, assets and funds for all of it’s token holders.

A DAO is made decentralized by eliminating sole control over it’s actions and achieving consensus through the distribution of voting rights to all of it’s members.

2 Likes

Congratulations @Saimano!

You seized the day and submitted a thoughtful and awesome essay. You win!

As a the winner of the What’s a DAO 500 word essay contest you will receive:

  • 1 C19 token: This makes you a member of the Collab19 DAO, a DAO to support projects fighting COVID19. You’ll then (after you create an account and transfer your token) you’ll have access to the DAO members only chat where you can discuss and vote on proposals!
  • 10 SEEDs: :octopus: :octopus: :octopus:
  • 50 HONEY: You can now have one of the 1Hive tokens! You may or may not be able to use this token to open signalling votes and/or get cash money, but you can definitely drop into the 1Hive Keybase chats to ask! (FTR 1Hive is the awesome team behind Gardens)
  • 1 DRT token: This entitles you to either 3 1 hour DAO consultations, 2 pages of writing on DAO related stuff, or help launching your own DAO!
  • 11k DONUT tokens: TBH I’m not quite sure what these are. I found them on Uniswap and thought they had to do with /r/ethtrader, but now I’m not so sure.
  • 465 ANJ: You can stake ANJ to participate in the Aragon Court: a decentralized subjective dispute resolution service.
  • 0.015 MKR: MKR is used for MakerDAO’s governance.
  • 172 MANA: Decentraland has a DAO, so you get some MANA!
  • 209 GEN: DAOstack tokens! Not sure what they’re for, but they’re yours!
  • 10 DAI: May or may not be worth 10 dollars.

What address would you like your JDI token shares minted to?


Note: you’ll earn full control of the Just DAO It DAO and all it’s assets (the DAO related tokens that aren’t non-transferable membership tokens). Sometimes all of the tokens don’t show up in the Redemptions UI, but you can check the Agent on Etherscan to verify all the tokens the DAO holds.

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Oh! Wow! Thanks @burrrata That’s unexpected. I will ping you back after going through those token details :slight_smile:

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