Wetin bi DAOs?
DAo na place wey evryon own, organizashon wey blockchain dey control wey dey work towads one shia mishon.
Omo dis DAOs go helep us link one work wit dem wey get di same vibes wey wi get and wi nor go dey look pesin to bag awa moni abi tins wey wi dey run. Dey nor get pesin wey go run us street wit awa moni abi pesin wey go shange de book. Insted, na rules wey dey based on blockchain wey don enta di kode dey yan di way di organizashon dey work and hau dem dey spend moni.
Dey don build dia treasuris in one kain way wey pesin nor fit enta dia moni if dem nor gri yu make yu do am. Desishons dey kontrolled based on proposals an voting make evrybody for the organizashon fit yan, and evrytin dey hapun openly for di chain.
Why e bi say wi nid DAOs?
Omo to bigin organisashon join pipol yu nor sabi nor bi play bikos moni dey involved and yu nor too sabi who all dis pipol sha bi an e go rikwaya trust die. E nor izy to biliv pesin wey yu and am just dey yarn for intanet wey yu nor even sabi wella. Wit DAOs yu nor nid sabi who dem bi, bikos all man go dey run on one kain ethical kode wey evrybody sabi and all man go dey si am and e dey 100% legit and verified.
And e go mek say you fit synergize wit pipol ovaboard and all tins go dey run wella.
One kain komparison
| DAO | One normal organizashon |
|---|---|
| E dey komon say e dey flat, and evrybody get di same pawa. | E dey waka sey na for up, down levels dem dey arrange am. |
| Voting dey important bcus say members suppose vote before any change fit happen. | Based on how e dey set, dem fit demand changes from one person alone, or dem fit offer voting" for Nigerian. |
| Dem kount di votes and di rizut dey waka automatically witout any pesin wey evrybody trust. | If dem alow make wi vote, dem go kount di votes inside, and di outcome of di voting go nid to dey handol manually. |
| Sarvis wey dem offa dey handol automatik, nor bi pesin dey kontrol-am, na so-so desentralizashon (like hau dem dey shia fri money). | If e require pesin to handle am or if e dey controlled by one central system wey fit dey manipulate am. |
| All activity na open book, evrybody fit si am. | Activity na usually private, and e no too dey reach public. |
DAO sample
To make you understand the matter, si smoll way wey yu fit take yus DAO:
- Charity - yu fit accept money from pesin wey dey anywia for dis world and vote wetin una go yus di money do.
- Na we get am - you fit buy things wey we si and di ones wey wi nor si and evrybody fit vote wetin wi go yus am do.
- Fri money - yu fit start associashon wey go gada money and pipol go vote wich biznes dem wan put di money. Wi fit give awa membas di money wey dem pay back.
Hau dis DAOs dey work?
Di tori of any DAO na hin contract wey sharp. na him go tell us the matter wey guide the organization and our money. Once our contract don dey live on Ethereum, nobody fit change am again except say we vote. If anybody try do something wey no dey inside our matter and the code, e go fail. Bikos say the matter sef dey inside the contract too e mean say norbody fit spend money if evrybody nor gri on top. E mean say DAOs no need one single oga. Instead na evrybody for the group dey make the decision and payment dey automatic wen di vote pass.
This one possible becasue of say our smart contract no fit shake once they don dey live on Ethereum. Yu nor fit edit di kode (DAO matter) make anybody nor sabi bikos na evrythin wi go dey si.
Ethereum and DAOs
Ethereum na di pafet foundashon for DAOs for diferen rizin:
- Ethereum consensus dey distributed and them establish am for organization to trust the network.
- Person no fit change smart contract code once e don go live, even the owners no fit change the codes. Dis one deu alow DAO make dem run wit di rule wey dem don set.
- Smart contracts fit send and e fit risiv money. Without dis yu go nid person wey we trust to dey manage group money.
- The Ethereum komunity don show say na team work and no be competition and e don allow different support systems dey quickly.
DAO governance
So many matter dey wey we go consider when you wan govern DAO, matter like voting and proposals work.
Delegashons
Delegashon be like the diferen pipol dey represent the DAO. People wey get token go allo others vote and choose theirself make everything dey move forward.
Popula eksampol
ENS(opens in a new tab) - pipol wey get ENS fit allow pesin wey dey active for di komunity vote for dem.
Automatic transaction governance
For plenty DAOs, transakshon go do well if plenty pipol vote for am.
Popula eksampol
Nouns(opens in a new tab) - for Noun DAO, transakshon dey automatik if e don reach one kain numba of vote and na positive, as far as say di foundas nor yus veto pawa.
Multisig governance
DAO fit get plenty plenty people wey fit vote, e fit be say na 5-20 people wey dey active dey share the money wey dey the wallet(people wey dem know for public). After we vote na the multisig signers go execute wetin we don vote for.
DAO laws
In 1977, Wyoming na hin invent the LLC wey dey protect entrepreneurs and e dey limit their liability. Na recently them push the DAO law wey establish legal status for DAOs. Nau na Wyoming, Vermont, and di Virgin Islands get DAO laws.
Popula eksampol
CityDAO(opens in a new tab) – dem use Wyoming's DAO law take buy 40 acres of land near Yellowstone National Park.
DAO membership
Difre models for DAO membership na im dey. Membership fit ditamin hau pipol go vote and some oda important part of di DAO.
Token-based membership
Dis one nor get pamishon, evrytin dipend on di token wey wi dey yus. We fit trade most of these token for decentralized exchange. You fit win oda tokens from liquidity abi anoda pruf of work. At all at all if you get the token, you go fit vote.
Dem dey use am govern big decentralized protocols or tokens.
Popula eksampol
MakerDAO(opens in a new tab) – MakerDAO's token MKR dey available for decentralized exchanges and anyone fit buy am and e go get voting power for maker protocol future.
Share-based membership
Share based DAOs dey more permissioned but dem dey open. Anybody fit submit proposal say e wan join the DAO, dem fit offer different thing whether na work abi token. Shares reprisent voting pawa and membership. Membas fit komot at any taim wit dia own shia of di treasury.
Dem dey use am for more organization like charities, worker collective and investment club wey dey human focused. You fit govern protocols and tokens too.
Popula eksampol
MolochDAO(opens in a new tab) – MolochDAO dey focused on giving Ethereum projects money. Dem go ask for proposal to join so them fit evaluate if you get the kapital and expertise to make good decisions about dia grantees. Yu nor fit just but enta to di DAO for open market.
Reputashon-based membership
Reputashon show proof of participation and give voting power in the DAO. Inlike token or share based membership, reputation based DAOs no dey transfer ownership or contributors. You no fit buy reputation, you no fit transfer am and dem no fit give you so you gats work for the reputaion when you participate. Onchain voting na permissionless and people wey wan join fit submit proposals to join the DAO and dem fit ask to receive reputations and tokens as a reward in exchange for their contributions.
Dem dey use am for decentralized development and governance of protocols and dapps, but organization like charities, clubs dey use am too.
Popula eksampol
DXdao(opens in a new tab) - DXdao na global sovereign collective building and governing decentralized protocols and application since 2019. Dem dey leverage reputation based governance and holographic consensus to coordinate and manage funds, e mean say person no fit buy their way into influencing its future.
Join abi start DAO
Join a DAO
- Ethereum community DAOs
- DAOhaus's list of DAOs(opens in a new tab)
- Tallt.xyz list of DAOs(opens in a new tab)
Start DAO
- Summon DAO with DAOhaus(opens in a new tab)
- Start Governor DAO with Tally(opens in a new tab)
- Create Aragon powered DAO(opens in a new tab)
- Start colony(opens in a new tab)
- Create DAO with DAOstack holographic consensus(opens in a new tab)
Further reading
DAO artikols
- Wetin be DAO(opens in a new tab) - Aragon(opens in a new tab)
- DAO handbook(opens in a new tab)
- House of DAOs(opens in a new tab) - Metagame(opens in a new tab)
- Wetin be DAO and wetin dem dey use am for?(opens in a new tab) - DAOhaus(opens in a new tab)
- Hau yu fit start DAO-powered Digital Komunity(opens in a new tab) - DAOhaus(opens in a new tab)
- Wetin be DAO?(opens in a new tab) - Coinmarketcap(opens in a new tab)
- Wetin be Holographic Consensus?(opens in a new tab) - DAOstack(opens in a new tab)
- DAOs no be corporations: where decentralization in autonomous organizations matter by vitalik(opens in a new tab)
- DAOs, DACs, DAs and More: terminology guide wey no complete(opens in a new tab) - Ethereum Blog(opens in a new tab)
Videos
- Wetin be DAO inside crypto?(opens in a new tab)
- Shey DAO fit build city?(opens in a new tab) - TED(opens in a new tab)