2022 will be the year of the DAO.
Everyone will be starting or joining one.
Here's what you need to know:
1. What is a DAO?
DAO stands for Decentralized Autonomous Organization.
It is a web3 structure for a business or organization.
2. Who can start a DAO?
Anyone can start a DAO.
It does not have a top-down hierarchy.
It is inclusive and open for everyone to participate.
3. How does it work?
The rules of the DAO are all coded in smart contracts and open source.
What the organization does is fully transparent.
Decisions are made through grassroots voting of DAO members.
4. Examples of DAOs
In theory, any organization can be a DAO.
Investment DAOs and Grants DAOs can fund projects.
Collector DAOs can collect NFT digital arts and other collectibles.
Social DAOs can provide a certain social circle for their members.
Img @Cooopahtroopa
5. How to Form a DAO from Scratch
Core members with mission and vision.
Attract the initial dozens of early contributors.
More people join and spin-off the 1st community-driven working group.
Organization continues to grow, specialized groups are created.
Img @pet3rpan_
6. What DAO Ops Might Look Like
Img @nichanank
7. DAO Infrastructure
DAO frameworks provide technology tools for creating DAOs.
A DAO can be created with turnkey solutions like Colony, Syndicate or Aragon.
Or pick and choose from individual solutions for each functional component and combine them.
Img @nichanank
8. DAO Infrastructure 2
1. The initial team starts on Discord
2. Distribute DAO-specific tokens to members
3. Do governance using Paladin
4. Funds from grants, token sale, or member dues can be managed by MultiSafe
5. Members working for the DAO compensated via Disperse
9. Challenges
a. Onboarding. DAOs need to be more accessible to non-cryptos and non-developers.
b. Voting governance can be improved.
c. Measuring and compensating member contributions needs improvement.
d. The legal and regulatory status of DAOs is yet to be clarified.
10. The Best Way to Get Involved
The smartest way to learn about DAOs is to join one.
Learn how, in this episode of DAOn the Rabbit Hole hosted by @ddwchen with guest @chaserchapman.
twitter.com/ddwchen/status/1467891585928949768?s=20
11. The Realities of Working for a DAO
Get the facts on the ground from @_kinjalbshah founder of the investment DAO @KomorebiFund.
Around the Block podcast hosted by @katherineykwu and @jmart_199.
youtu.be/dc_vie35T3c
12. Organization Legos: The State of DAO Tooling
Get an indepth look at DAO structure in this article by @nichanank
medium.com/1kxnetwork/organization-legos-the-state-of-dao-tooling-866b6879e93e
13. Building and Running a DAO:
Why Governance Matters by @tarunchitra
future.a16z.com/building-and-running-a-dao-why-governance-matters/
14. DAOs, A Canon
Your platinum resource from @a16z
by @smc90 @ZoranBasich @guywuolletjr
future.a16z.com/dao-canon/
15. DAOs are the Future of Work and Community
It's still early days, but DAOs will become the way we all work, socialize and connect.
It's not too soon to get learning about them.
This thread was based on an article by Charles Shen:
inweb3.com/what-is-a-dao/
I write about how to live your best life in web3 and the future. Follow me @MishadaVinci for more.