You're reading State of the DAOs, a bi-weekly newsletter published by BanklessDAO. Our goal is to curate high-quality content from the DAO ecosystem and deliver it to you in an easily accessible form. You might be curious about joining a DAO, have already jumped in but feel overwhelmed, or you might even be an active, engaged member of multiple DAOs. Wherever you are on your journey, State of the DAOs cuts through the noise and is your TL;DR for getting started, leveling up, and staying up to date on the world of DAOs. 

Author: BanklessDAO Writers Guild (scottyk, frogmonkee, siddhearta)

This is the official newsletter of the Bankless DAO. If you were a Premium Member of the Bankless Newsletter as of May 1st, 2021 you have been subscribed to this newsletter at launch.

To unsubscribe edit your settings here.

What is a DAO: the future of work explained 🤝

Introduction to DAOs

Decentralized Autonomous Organization (DAOs) are digitally native communities that center around a shared mission. DAOs are:

Decentralized, because they’re community-owned, grassroots-driven, and loosely organized (in contrast to a hierarchical, tightly-structured centralized org like a bureaucratic agency or company).

Autonomous, because their shared rules and shared treasuries are encoded and automatically enforced on the Ethereum blockchain.

Organizations, because they’re groups of people that associate and coordinate around specific purposes.

Accordingly, DAOs are a new internet-native way for communities to efficiently and securely coordinate funds and labor. DAOs are simply units of coordination. Any group of individuals can create a DAO to execute their mission with minimal barriers to entry, whether that be to buy and manage a basketball team, create a decentralized Blackrock, or offer services to other DAOs.

Emboldened by a growing sense of collective empowerment, the DAO ecosystem has been surging with activity lately as more and more people discover how these orgs are pointing to new horizons of work in the 21st century.

As a testament to this surge, today DAO treasuries bear ~$7B worth of assets under management (AUM) and somewhere in the ballpark of 1M members, respectively speaking. That’s on the heels of the DAO ecosystem having just turned 5 years old!

“DAOs are here today. DAOs are a worldwide trend & an emerging part of the Ethereum ecosystem. It’s happening! DAOs are already enabling dense P2P networks of value exchange & participation.” — DAOs: The New Coordination Frontier

The crypto industry as a whole is still a ways off from DAOs actualizing their full potential. The original conception of a DAO was code at the center, and humans at the periphery. A DAO is a smart-contract or system of smart-contracts on Ethereum that are autonomous because they have no human dependencies; they operate as autonomous software on Ethereum.

Projects like Uniswap and Compound that start as autonomous protocols and turn into DAOs embody this ethos, but most DAOs lack sufficient tooling to move their decision-making and execution from the social layer to on-chain. But that hasn’t stopped the massive wave of DAOs that embed the values of decentralization and permissionless execution at the social layer.

How do DAOs operate

https://twitter.com/cooopahtroopa/status/1408158533783228416?lang=en

In traditional organizations, decision making happens through top-down hierarchy, with a small group of executives dictating each macro-level decision. DAOs operate through a bottoms-up flow, where decisions are made through community consensus and rely on the perspectives of peers.

This does not mean that every person is necessarily involved with every single decision, but rather that decision-making happens within concentric rings, starting from “soft consensus” and moving towards “hard consensus.”

Soft Consensus: Achieved through some implicit signal of preference depending on scope of impact. (The crowd that yells louder than others to signal preference 🔊 > 🔉 )

Hard Consensus: Achieved through a collectively-accepted signaling mechanism. (🗳️ Turning in a ballot to cast your vote)

DAOs need a combination of soft and hard consensus unless they want to get bogged with bureaucracy (only hard) or divisiveness (only soft). In fact, consensus mechanisms can have both “softness” and “hardness” both.

How does a DAO operate compared to a traditional organization?

In a traditional organization, ABC Incorporated develops a marketing plan. It was drafted by ABC Inc.’s Product Marketing Manager with some input from other departments. It then goes to the VP of Marketing for edits and finally up to the executive suite for a final approval. Upon approval from the higher ups, the VP will coordinate with his/her team to execute on the plan.

XYZ DAO also has a marketing plan. It was voluntarily drafted by two people, one with a couple months of product marketing experience and the other with 25 years in marketing. It was then proposed on a public forum with a dedicated Discord channel for discussions. At this stage, members with a variety of backgrounds, some in marketing and some not, all participated with criticisms, suggestions, dissent, and support.

The final step is to redraft the original proposal until there is majority support before moving on to a snapshot for tokenholders to vote on.

The takeaway? Same outcome, completely different process. One that empowers individual members to act with the support of their peers.

DAOs and the future of work

Catalyzed by COVID-19, the labor markets have been subject to what economists are calling The Great Resignation. The main takeaways (aside from retail workers being treated like 💩 - again) is that the change to remote work has changed how employees view when, where, and why they work.

Despite the stress the pandemic put on the average working-class individual, the repeated furloughs, remote work, and quarantine requirements gave people the chance to live their lives. To spend time with family, cook new and exciting meals, go on long walks, and pick up new hobbies. The pandemic reminded everyone that there was a world outside of work. And in the digital age of work, is it any surprise that people want their lifestyle to determine their work, not their work to determine their lifestyle?

DAOs represent this shift in thinking. People in DAOs work at their own leisure, whether that’s five hours a week or fifty, at one DAO or three. In fact, the majority of contributors within a DAO at part time, which inverts the usual model found in traditional organizations. And guess what? Shit still gets done.

Need more money? Work more. Need more time? Work less.

It doesn’t stop there. The future of work doesn’t mean only working your own hours, but it also reflects the meaning behind that work. DAOs are digitally native communities that center around a shared mission. That mission isn’t marketing fluff. Unlike incorporated companies that have financial obligations to shareholders, DAOs can activate around a more diverse set of goals that are not necessarily financially motivated. Combine meaningful missions with flexible working hours and people find themselves wanting to contribute, rather than being compelled to contribute.

How to get started

A helpful mental model to use is that while startups source talent, by way of job boards, interviews, and a robust hiring pipeline, DAOs crowdsource talent from their community. People self-organize into niches based on what excites them and collectively begin to explore those ideas collectively. It is the DAO’s responsibility to enable new entrants to contribute and execute their ideas.

In some cases, DAOs are gated by token requirements, but most are open for anyone to join. In most cases, the entry point is usually a Discord server, where 99% of activity and conversation occur. From there, each DAO has their own onboarding flows. (This is a problem space for most DAOs. Onboarding is often chaotic, but we’re starting to see best practices emerge.) For example:

Index Coop onboarding on a rolling basis with their weekly New Joiners calls

RaidGuild onboards through a cohort of recruits every season

Gitcoin onboards members directly into their existing workstreams

An easy way to plug into a DAO is to attend their regular community calls or other beginner-friendly meetings. Feel free to join Bankless DAO’s weekly community call every Friday at 11am EDT or peek at the Beginner-Friendly Calendar below!

Actions steps

📖 Read The Ultimate DAO Report by Bankless DAO x Gitcoin DAO

🙋 Join the Bankless DAO Discord to see how you can help us help the world go bankless!

🎧 Listen along to any regular DAO calls that may interest you

DAOs at a Glance 

Composable Membership and its Role in Generating Social Capital

Author: Andrew Hong

Exploring ways that communities move away from simple token-based membership, Andrew Hong identifies three key factors in creating composable memberships with the goal of creating long-term social capital:

Access is discovery, permissions are responsibility, status is weight.

In Web3, services will form around membership, rather than membership around services (Web2).

Designing membership systems that improve ownership of decisions and build in allowances for trust, experimentation and flexibility within a community.

In the near future, composable memberships will not only shape communities, but also the ecosystems and platforms those communities operate in as well. 

Organization Legos: The State of DAO Tooling

This comprehensive article by Nichanan Kesonpat presents a deep dive into organizational design and the growing suite of web3 native tools available to enable large scale human coordination. In it, she presents three main challenges all DAOs face, whether they are protocol, investment, community or even NFT DAOs:

How to lower the barrier to meaningful contribution.

How to maintain operational efficiency as they decentralize.

How to coordinate decision-making at scale.

In order to meet these challenges, she then explores each category of tools available today, including— contribution management, compensation, decision making, treasury, analytics, and DAO frameworks.

Sushi and the Founding Murder

The fascinating story behind SushiSwap. Part manhunt, part trial by media, and part murder, the full saga covers: 

The mark. Uniswap’s remarkable innovation, and critical vulnerabilities.

The plan. How and why Sushi was founded.

The heist. Chef Nomi’s ingenious maneuver to bring liquidity to the new exchange.

The murder. A founder on the lam, and how DAOs mete out justice.

The aftermath. The establishment of a headless organization.

The future. Where does Sushi go from here?

Ecosystem Takes

DAOs: The New Coordination Frontier

A first of its kind, GitcoinDAO and BanklessDAO partnered together to create this comprehensive survey of people who work for DAOs in order to help us understand how DAOs can coordinate better for long-term strategy. Here are some of the key takeaways: 

DAO creators are a global cohort, though a vast majority of the 422 surveyed reside in China and the United States.

DAOs are incredibly easy to spin up with over 200 represented. Contrast this to corporations that require articles of incorporation, legal expertise, and approval.

Of the 223 DAOs surveyed, BanklessDAO, GitcoinDAO, Index Coop, DAOSquare, and dOrg were heavily represented.

DAOs were diversified between NFTs, social, investments, protocols, services, and grants.

A majority of responders were between 20-40 years old and skewed 80% male.

Most survey respondents were in 1 or 2 DAOs, but for the minority who were in 3-6 DAOs, feeling pulled in many directions was a real problem.

Participants have a feeling of fulfillment, meaning, and purpose not found in traditional organizations. Ownership fuels empowerment. Being able to be at the bleeding edge of tech and culture is also a draw for some.

There is much left to invent/discover in the world of DAOs. Compliance, coordination, benefits, recruiting + retainment of talent, income volatility are all large unsolved problems.

"Imagine the ultimate marriage of technology, community, capital, ownership and purpose. That is a DAO." - @nanexcool

DAOs May Be the Future of Work, but Don’t Bet on Them Being the Next Big Asset Class

Author: Andrew Thurman

If you want to ape into a new token, it's important to clearly understand the incentives and economics surrounding that investment. Are DAOs, and their governance tokens, a good asset class for VC's to come in and scoop up? This article makes that case that they are NOT. If you want to invest in a DAO, then invest your time and labor. Not your money.

DAOs Have a Long Way to Go

Author: Daniel Roberts

Katy Perry once quipped about DAOs, "your hot 'n you're cold, you're yes and you're no, you're in and you're out, you're up and you're down". 

Obviously, she didn't really say that about DAOs, but Daniel Roberts basically did. This is the disillusioned take from an insider who sees that there is still lots of room for the industry to grow.

Tokenomics - Three things Creators need to know before making a Social Token for their community

Author: Eliot Couvat

Social tokens are the life blood of a DAO, incentivizing its members to perform the functions that need to get done to drive value for the community. Take a deep dive into some of the best practices for designing the tokenomic engine driving this new organizational paradigm.

On Nathan Schneider on the limits of cryptoeconomics

Author: Vitalik Buterin

Governance is complicated and so too is Economics. No one should ever go into a Vitalik blog post and not set aside plenty of time for philosophical thinking intermittently throughout. This article will make you question the core building blocks of DAOs as Vitalik systemically digs into tokenomics and their role in adjudication and its network effects for the health of a DAO ecosystem. This isn't a light read, but it is a must read.

Get Plugged In

State of the DAOs - Newbie Friendly Events

State of the DAOs calendar - EST

Gitcoin - MC Office Hours - Join Gitcoin's office hours call to see what's going on in the ecosystem and start to see how their DAO operates.

DAOhaus - Haus Party - A weekly meeting on Thursday for the DAOHaus community to get together for an open community call.

BanklessDAO - Community Call - Just what it sounds like, a community call so that all the different guilds can come together and make sure everyone is on the same page.

Event Highlights

ETHGlobal - ETHOnline - ETHGlobal's biggest event of the year. Checkout the link for more specifics as there are lots of events going on!

BanklessDAO - Permissionless Conference - Tickets just went on sale for one of the biggest DeFi conferences! Over 5,000 people will be attending in total and every two weeks 250 more tickets unlock. Once 250 tickets are purchased, registration closes and you’ll have to wait until the next release. Speaking of the next release, your next chance is on October 1st and prices are currently at $316. Speakers include our very own Ryan Sean Adams and David Hoffman, as well as many others. Join us on Tuesday - Thursday, May 17 - 19, 2022 in sunny Palm Beach, Florida for the event.

Jobs Section

[img link: https://pallet.xyz/list/bankless/jobs]

Popcorn Foundation - Community Lead - We are looking for a qualified Community manager to join our marketing team! If you are a self-driven and ambitious tech-savvy professional we would love to meet you! We are expecting you to be experienced in social media, PR and promotional events.

Popcorn Foundation - Senior Software Programmer - We are looking for a bold, curious engineer with high standards to help us create smart contracts for Popcorn. You will be responsible for ensuring consistent, high-quality codebases, technical specifications, deployment scripts, and more.

Tracer DAO - Senior Frontend Web3 Developer - As a Senior Frontend Web3 Developer you will be leading a team of developers to design and build Web3 interfaces for Tracer DAO. You will be given a high level of ownership over your work, the opportunity to expand your knowledge of a fast-growing industry, and the chance to help build the decentralised infrastructure of the future.

Aragon - Community Manager - We're looking for a passionate and thoughtful Community Manager to build and grow Aragon’s enthusiast community into one of the top web3 communities, by driving Aragon’s community strategy focused on sourcing and nurturing new community members and retaining and up-leveling existing ones.

DAO Spotlight

BanklessDAO is a decentralized autonomous organization that acts as a steward of the Bankless movement by creating user-friendly onramps for people to discover next-generation financial technologies through education, media, and culture. Going Bankless means adopting blockchain-based technologies that enable wealth creation without relying on the traditional banking system. BanklessDAO envisions a world where those with an internet connection can have access to the tools needed to achieve financial independence.

Every day at BanklessDAO we are:

Building tools, resources, and community.

Creating written media, podcasts, and educational resources.

Empowering individuals and teams to do their best work.

Connecting diverse talent, perspectives, and teams in a collaborative environment.

Driving crypto culture and adoption.

Join the movement. Join BanklessDAO

.

DAO Newsletter #0

State of the DAOs #0 | October 6, 2021

State of the DAOs #0 | October 6, 2021

What is a DAO: the future of work explained 🤝

Introduction to DAOs

How do DAOs operate

DAOs and the future of work

How to get started

Actions steps

DAOs at a Glance

Composable Membership and its Role in Generating Social Capital

Organization Legos: The State of DAO Tooling

Sushi and the Founding Murder

Ecosystem Takes

DAOs: The New Coordination Frontier

DAOs May Be the Future of Work, but Don’t Bet on Them Being the Next Big Asset Class

DAOs Have a Long Way to Go

Tokenomics - Three things Creators need to know before making a Social Token for their community

On Nathan Schneider on the limits of cryptoeconomics

Get Plugged In

State of the DAOs - Newbie Friendly Events

Event Highlights

Jobs Section

DAO Spotlight

You're reading State of the DAOs, a bi-weekly newsletter published by BanklessDAO. Our goal is to curate high-quality content from the DAO ecosystem and deliver it to you in an easily accessible form. You might be curious about joining a DAO, have already jumped in but feel overwhelmed, or you might even be an active, engaged member of multiple DAOs. Wherever you are on your journey, State of the DAOs cuts through the noise and is your TL;DR for getting started, leveling up, and staying up to date on the world of DAOs. 

Author: BanklessDAO Writers Guild (scottyk, frogmonkee, siddhearta)

This is the official newsletter of the Bankless DAO. If you were a Premium Member of the Bankless Newsletter as of May 1st, 2021 you have been subscribed to this newsletter at launch.

To unsubscribe edit your settings here.

What is a DAO: the future of work explained 🤝

Introduction to DAOs

Decentralized Autonomous Organization (DAOs) are digitally native communities that center around a shared mission. DAOs are:

Decentralized, because they’re community-owned, grassroots-driven, and loosely organized (in contrast to a hierarchical, tightly-structured centralized org like a bureaucratic agency or company).

Autonomous, because their shared rules and shared treasuries are encoded and automatically enforced on the Ethereum blockchain.

Organizations, because they’re groups of people that associate and coordinate around specific purposes.

Accordingly, DAOs are a new internet-native way for communities to efficiently and securely coordinate funds and labor. DAOs are simply units of coordination. Any group of individuals can create a DAO to execute their mission with minimal barriers to entry, whether that be to buy and manage a basketball team, create a decentralized Blackrock, or offer services to other DAOs.

Emboldened by a growing sense of collective empowerment, the DAO ecosystem has been surging with activity lately as more and more people discover how these orgs are pointing to new horizons of work in the 21st century.

As a testament to this surge, today DAO treasuries bear ~$7B worth of assets under management (AUM) and somewhere in the ballpark of 1M members, respectively speaking. That’s on the heels of the DAO ecosystem having just turned 5 years old!

“DAOs are here today. DAOs are a worldwide trend & an emerging part of the Ethereum ecosystem. It’s happening! DAOs are already enabling dense P2P networks of value exchange & participation.” — DAOs: The New Coordination Frontier

The crypto industry as a whole is still a ways off from DAOs actualizing their full potential. The original conception of a DAO was code at the center, and humans at the periphery. A DAO is a smart-contract or system of smart-contracts on Ethereum that are autonomous because they have no human dependencies; they operate as autonomous software on Ethereum.

Projects like Uniswap and Compound that start as autonomous protocols and turn into DAOs embody this ethos, but most DAOs lack sufficient tooling to move their decision-making and execution from the social layer to on-chain. But that hasn’t stopped the massive wave of DAOs that embed the values of decentralization and permissionless execution at the social layer.

How do DAOs operate

https://twitter.com/cooopahtroopa/status/1408158533783228416?lang=en

In traditional organizations, decision making happens through top-down hierarchy, with a small group of executives dictating each macro-level decision. DAOs operate through a bottoms-up flow, where decisions are made through community consensus and rely on the perspectives of peers.

This does not mean that every person is necessarily involved with every single decision, but rather that decision-making happens within concentric rings, starting from “soft consensus” and moving towards “hard consensus.”

Soft Consensus: Achieved through some implicit signal of preference depending on scope of impact. (The crowd that yells louder than others to signal preference 🔊 > 🔉 )

Hard Consensus: Achieved through a collectively-accepted signaling mechanism. (🗳️ Turning in a ballot to cast your vote)

DAOs need a combination of soft and hard consensus unless they want to get bogged with bureaucracy (only hard) or divisiveness (only soft). In fact, consensus mechanisms can have both “softness” and “hardness” both.

How does a DAO operate compared to a traditional organization?

In a traditional organization, ABC Incorporated develops a marketing plan. It was drafted by ABC Inc.’s Product Marketing Manager with some input from other departments. It then goes to the VP of Marketing for edits and finally up to the executive suite for a final approval. Upon approval from the higher ups, the VP will coordinate with his/her team to execute on the plan.

XYZ DAO also has a marketing plan. It was voluntarily drafted by two people, one with a couple months of product marketing experience and the other with 25 years in marketing. It was then proposed on a public forum with a dedicated Discord channel for discussions. At this stage, members with a variety of backgrounds, some in marketing and some not, all participated with criticisms, suggestions, dissent, and support.

The final step is to redraft the original proposal until there is majority support before moving on to a snapshot for tokenholders to vote on.

The takeaway? Same outcome, completely different process. One that empowers individual members to act with the support of their peers.

DAOs and the future of work

Catalyzed by COVID-19, the labor markets have been subject to what economists are calling The Great Resignation. The main takeaways (aside from retail workers being treated like 💩 - again) is that the change to remote work has changed how employees view when, where, and why they work.

Despite the stress the pandemic put on the average working-class individual, the repeated furloughs, remote work, and quarantine requirements gave people the chance to live their lives. To spend time with family, cook new and exciting meals, go on long walks, and pick up new hobbies. The pandemic reminded everyone that there was a world outside of work. And in the digital age of work, is it any surprise that people want their lifestyle to determine their work, not their work to determine their lifestyle?

DAOs represent this shift in thinking. People in DAOs work at their own leisure, whether that’s five hours a week or fifty, at one DAO or three. In fact, the majority of contributors within a DAO at part time, which inverts the usual model found in traditional organizations. And guess what? Shit still gets done.

Need more money? Work more. Need more time? Work less.

It doesn’t stop there. The future of work doesn’t mean only working your own hours, but it also reflects the meaning behind that work. DAOs are digitally native communities that center around a shared mission. That mission isn’t marketing fluff. Unlike incorporated companies that have financial obligations to shareholders, DAOs can activate around a more diverse set of goals that are not necessarily financially motivated. Combine meaningful missions with flexible working hours and people find themselves wanting to contribute, rather than being compelled to contribute.

How to get started

A helpful mental model to use is that while startups source talent, by way of job boards, interviews, and a robust hiring pipeline, DAOs crowdsource talent from their community. People self-organize into niches based on what excites them and collectively begin to explore those ideas collectively. It is the DAO’s responsibility to enable new entrants to contribute and execute their ideas.

In some cases, DAOs are gated by token requirements, but most are open for anyone to join. In most cases, the entry point is usually a Discord server, where 99% of activity and conversation occur. From there, each DAO has their own onboarding flows. (This is a problem space for most DAOs. Onboarding is often chaotic, but we’re starting to see best practices emerge.) For example:

Index Coop onboarding on a rolling basis with their weekly New Joiners calls

RaidGuild onboards through a cohort of recruits every season

Gitcoin onboards members directly into their existing workstreams

An easy way to plug into a DAO is to attend their regular community calls or other beginner-friendly meetings. Feel free to join Bankless DAO’s weekly community call every Friday at 11am EDT or peek at the Beginner-Friendly Calendar below!

Actions steps

📖 Read The Ultimate DAO Report by Bankless DAO x Gitcoin DAO

🙋 Join the Bankless DAO Discord to see how you can help us help the world go bankless!

🎧 Listen along to any regular DAO calls that may interest you

DAOs at a Glance 

Composable Membership and its Role in Generating Social Capital

Author: Andrew Hong

Exploring ways that communities move away from simple token-based membership, Andrew Hong identifies three key factors in creating composable memberships with the goal of creating long-term social capital:

Access is discovery, permissions are responsibility, status is weight.

In Web3, services will form around membership, rather than membership around services (Web2).

Designing membership systems that improve ownership of decisions and build in allowances for trust, experimentation and flexibility within a community.

In the near future, composable memberships will not only shape communities, but also the ecosystems and platforms those communities operate in as well. 

Organization Legos: The State of DAO Tooling

This comprehensive article by Nichanan Kesonpat presents a deep dive into organizational design and the growing suite of web3 native tools available to enable large scale human coordination. In it, she presents three main challenges all DAOs face, whether they are protocol, investment, community or even NFT DAOs:

How to lower the barrier to meaningful contribution.

How to maintain operational efficiency as they decentralize.

How to coordinate decision-making at scale.

In order to meet these challenges, she then explores each category of tools available today, including— contribution management, compensation, decision making, treasury, analytics, and DAO frameworks.

Sushi and the Founding Murder

The fascinating story behind SushiSwap. Part manhunt, part trial by media, and part murder, the full saga covers: 

The mark. Uniswap’s remarkable innovation, and critical vulnerabilities.

The plan. How and why Sushi was founded.

The heist. Chef Nomi’s ingenious maneuver to bring liquidity to the new exchange.

The murder. A founder on the lam, and how DAOs mete out justice.

The aftermath. The establishment of a headless organization.

The future. Where does Sushi go from here?

Ecosystem Takes

DAOs: The New Coordination Frontier

A first of its kind, GitcoinDAO and BanklessDAO partnered together to create this comprehensive survey of people who work for DAOs in order to help us understand how DAOs can coordinate better for long-term strategy. Here are some of the key takeaways: 

DAO creators are a global cohort, though a vast majority of the 422 surveyed reside in China and the United States.

DAOs are incredibly easy to spin up with over 200 represented. Contrast this to corporations that require articles of incorporation, legal expertise, and approval.

Of the 223 DAOs surveyed, BanklessDAO, GitcoinDAO, Index Coop, DAOSquare, and dOrg were heavily represented.

DAOs were diversified between NFTs, social, investments, protocols, services, and grants.

A majority of responders were between 20-40 years old and skewed 80% male.

Most survey respondents were in 1 or 2 DAOs, but for the minority who were in 3-6 DAOs, feeling pulled in many directions was a real problem.

Participants have a feeling of fulfillment, meaning, and purpose not found in traditional organizations. Ownership fuels empowerment. Being able to be at the bleeding edge of tech and culture is also a draw for some.

There is much left to invent/discover in the world of DAOs. Compliance, coordination, benefits, recruiting + retainment of talent, income volatility are all large unsolved problems.

"Imagine the ultimate marriage of technology, community, capital, ownership and purpose. That is a DAO." - @nanexcool

DAOs May Be the Future of Work, but Don’t Bet on Them Being the Next Big Asset Class

Author: Andrew Thurman

If you want to ape into a new token, it's important to clearly understand the incentives and economics surrounding that investment. Are DAOs, and their governance tokens, a good asset class for VC's to come in and scoop up? This article makes that case that they are NOT. If you want to invest in a DAO, then invest your time and labor. Not your money.

DAOs Have a Long Way to Go

Author: Daniel Roberts

Katy Perry once quipped about DAOs, "your hot 'n you're cold, you're yes and you're no, you're in and you're out, you're up and you're down". 

Obviously, she didn't really say that about DAOs, but Daniel Roberts basically did. This is the disillusioned take from an insider who sees that there is still lots of room for the industry to grow.

Tokenomics - Three things Creators need to know before making a Social Token for their community

Author: Eliot Couvat

Social tokens are the life blood of a DAO, incentivizing its members to perform the functions that need to get done to drive value for the community. Take a deep dive into some of the best practices for designing the tokenomic engine driving this new organizational paradigm.

On Nathan Schneider on the limits of cryptoeconomics

Author: Vitalik Buterin

Governance is complicated and so too is Economics. No one should ever go into a Vitalik blog post and not set aside plenty of time for philosophical thinking intermittently throughout. This article will make you question the core building blocks of DAOs as Vitalik systemically digs into tokenomics and their role in adjudication and its network effects for the health of a DAO ecosystem. This isn't a light read, but it is a must read.

Get Plugged In

State of the DAOs - Newbie Friendly Events

State of the DAOs calendar - EST

Gitcoin - MC Office Hours - Join Gitcoin's office hours call to see what's going on in the ecosystem and start to see how their DAO operates.

DAOhaus - Haus Party - A weekly meeting on Thursday for the DAOHaus community to get together for an open community call.

BanklessDAO - Community Call - Just what it sounds like, a community call so that all the different guilds can come together and make sure everyone is on the same page.

Event Highlights

ETHGlobal - ETHOnline - ETHGlobal's biggest event of the year. Checkout the link for more specifics as there are lots of events going on!

BanklessDAO - Permissionless Conference - Tickets just went on sale for one of the biggest DeFi conferences! Over 5,000 people will be attending in total and every two weeks 250 more tickets unlock. Once 250 tickets are purchased, registration closes and you’ll have to wait until the next release. Speaking of the next release, your next chance is on October 1st and prices are currently at $316. Speakers include our very own Ryan Sean Adams and David Hoffman, as well as many others. Join us on Tuesday - Thursday, May 17 - 19, 2022 in sunny Palm Beach, Florida for the event.

Jobs Section

[img link: https://pallet.xyz/list/bankless/jobs]

Popcorn Foundation - Community Lead - We are looking for a qualified Community manager to join our marketing team! If you are a self-driven and ambitious tech-savvy professional we would love to meet you! We are expecting you to be experienced in social media, PR and promotional events.

Popcorn Foundation - Senior Software Programmer - We are looking for a bold, curious engineer with high standards to help us create smart contracts for Popcorn. You will be responsible for ensuring consistent, high-quality codebases, technical specifications, deployment scripts, and more.

Tracer DAO - Senior Frontend Web3 Developer - As a Senior Frontend Web3 Developer you will be leading a team of developers to design and build Web3 interfaces for Tracer DAO. You will be given a high level of ownership over your work, the opportunity to expand your knowledge of a fast-growing industry, and the chance to help build the decentralised infrastructure of the future.

Aragon - Community Manager - We're looking for a passionate and thoughtful Community Manager to build and grow Aragon’s enthusiast community into one of the top web3 communities, by driving Aragon’s community strategy focused on sourcing and nurturing new community members and retaining and up-leveling existing ones.

DAO Spotlight

BanklessDAO is a decentralized autonomous organization that acts as a steward of the Bankless movement by creating user-friendly onramps for people to discover next-generation financial technologies through education, media, and culture. Going Bankless means adopting blockchain-based technologies that enable wealth creation without relying on the traditional banking system. BanklessDAO envisions a world where those with an internet connection can have access to the tools needed to achieve financial independence.

Every day at BanklessDAO we are:

Building tools, resources, and community.

Creating written media, podcasts, and educational resources.

Empowering individuals and teams to do their best work.

Connecting diverse talent, perspectives, and teams in a collaborative environment.

Driving crypto culture and adoption.

Join the movement. Join BanklessDAO

.