Editor's Note: Original title was "Overview of DAO on Ethereum"
Although The DAO hacking event brought Ethereum the strongest crisis in history, the Ethereum community has not stopped exploring DAO, which shows the tenacity of its idea and vitality. Seventh Brother paid attention to DAO again, or a currency friend article recommended by the old man to Suo. The article mentioned that an article about DAO information on Ethereum was written abroad. So Qige found the original text, and the title of the original text was very eye-catching. The Next Flippening: More DAOs than Tokens (requires fq). Here is a Chinese translation: Will more DAOs than Tokens be the next outlet? Seeing the word "Fengkou", the seventh brother moved. So began to understand the idea of DAO on Ethereum. Before understanding, Qi Brother must understand a problem:
What is DAO?
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In the early years, V God talked about DAO in the Ethereum official website blog. He defines DAO in this way: DAO is an entity that lives on the Internet and lives autonomously, but it also relies heavily on humans to perform operations that they cannot achieve. It sounds like smart contracts are like DAOs, they run autonomously on Ethereum, while some external accounts launch them.
After reading the definition of DAO, let's explore the explosive DAO project on Ethereum-Moloch DAO. It can be said that it is like talking about DeFi and Maker, and mentioning DAO has to mention Moloch. As soon as this project launched by Spankchain founder Ameen was launched, it attracted widespread attention from the community. Moloch aims to sponsor and support the development of infrastructure on Ethereum, especially on Ethereum 2.0, and is composed of a group of community members who care about the future of Ethereum and are willing to contribute funds. To join Moloch, it must be nominated by a Moloch member, which is also to prevent malicious disruptors from destroying the organization. To get Moloch's support, you must first become a Moloch member, and then propose to apply for sponsorship. If the majority of votes pass the application, the applicant receives the required sponsorship (ETH); if the vote is rejected, it will not be sponsored. If the member who voted against the application is not satisfied with the result of the vote (or is still unwilling to sponsor the applicant), they can choose to retire and quit Moloch. If you want to join after you quit, you still have to be nominated by a member.
According to Moloch's official Twitter data, since the launch six months ago, it has sponsored a total of 17 projects with a total value of $ 120,000. Moloch also attracted the joining of V God and consensys founder Rubin, adding a lot of popularity to it.
When Qige first heard about Moloch, the first thing that came to mind was how would I make money if I joined Moloch? In fact, joining Moloch can't make you money. The way to make money is to hold ETH. And sponsoring the development of Ethereum may increase the value of ETH in your hand. For example, if you hold ETH worth 10,000 yuan, and then sponsor 2,000 yuan to promote ETH appreciation by 30%, then you are actually making money. Of course, some smart people may think of hitchhiking, that is, if I do n’t sponsor at all and wait for others to donate, would n’t they make more money? Qige thinks this is a bit like buying stocks. The major shareholders actively participate in corporate governance and hope that the company will continue to grow healthily. It will even use its own resources to help the company. For Xiaosan, they only need to hold the company's shares and do not need to participate in governance You can also enjoy the dividends brought by the company's growth. In terms of rationality, the investment of large households only accounts for a very small part of their positions. Even if they invest in it, the dividends they enjoy for adding value are far more small.
MetaCartel was originally a technical working group set up at the 2018 ETH Berlin Summit to solve the transaction problem on meta-Ethereum. As the problem was slowly resolved, MetaCartel's interest gradually shifted to the last mile of Ethereum, dapp. . MetaCartel hopes to use the professional level of the working group to collaborate with the dapp development on Ethereum. Everyone will help each other and share resources just like their family. MetaCartel's philosophy is: if you want to go faster, go by yourself; if you want to go further, go together. The reason for the birth of MetaCatel DAO is a bit fascinating. Its sponsor, pet3rpan, claimed to have joined Moloch and became the first person in the organization to propose to be rejected, which led him to decide to fork Moloch DAO and establish MetaCartel DAO.
MetaCartel DAO sponsors application layer products (ie dapps) on Ethereum and coordinates the sharing of ideas and data between products. The DAO believes that traditional Internet companies have a large amount of user data, but they are not connected to each other, leading to the emergence of data monopolies like Facebook. Therefore, they emphasized that for any project they sponsor, they must agree to share the data of the project among other projects supported in the organization. Here Brother Seven guesses that the so-called user data sharing should not involve registered identity information. Of course, in the concept of web3.0, users are generally not required to provide identity information. A metamask wallet is sufficient. When Pet3rpan introduced the DAO, he said something that touched Seven Brothers very much: Except for Ethereum, in the application layer, we can only rely on ourselves. People outside the crypto circle don't care about us, and we can only save ourselves.
Marketing DAO was established relatively late and was officially released in November. Their philosophy is very interesting: to cultivate Ethereum by brand. While shouting that decentralization, the crypto circle that is to be opposed to the world, the brand concept of the classical business circle appeared, and the vision of the Ethereum community is truly extraordinary. In fact, the crypto community is also composed of individuals, and they will also have a brand identity. For example, when referring to cryptocurrencies, the first brand that comes to mind is Bitcoin. Marketing DAO believes that the Ethereum Foundation focuses on the optimization of Ethereum's own technology, which is of course a very urgent matter, but it is inevitable to ignore the marketing work of Ethereum. Ethereum has grown to the stage where it needs to establish its own brand. It needs not only the correct positioning, but also some misunderstandings of Ethereum by the public relations crypto community. In view of this, Marketing DAO decided to mobilize the power of the community to make up for this shortcoming, hoping to spread the advantages, values and vision of Ethereum through marketing experts, communication experts and design experts in the organization.
Marketing DAO is also forked from Moloch. By the way, one of Moloch's ideas is to seek forking. There are three types of roles within the organization: sponsors (sponsoring ETH), members (contributing to the organization), and supporters (cheering cheers). Coincidentally, the seventh brother saw an interview article about Marketing DAO shared by Dao Niang in the circle of friends yesterday. The interviewee was the founder of Marketing DAO, Alex. The article asked what the difficulties facing Marketing DAO are now. Alex said that the reasonable distribution of rights and incentives based on the contributions of members is a problem that all DAO organizers will face. Indeed, contribution is very subjective. It is difficult to quantify the design of a cultural shirt for the community and the promotion of the community-designed shirt to the members of the community.
It is interesting that although Pan Ultrasound said that Maker DAO has grasped the three outlets of stablecoin, DeFi and DAO, the DAO circle does not seem to include Maker. The article introducing DAO talks about the three DAO projects mentioned above, but Never seen Maker mentioned. Perhaps the Ethereum community mentions Maker and categorizes it into the DeFi circle.
Seventh Brother also saw a DAO with the word DAO-Curator.DAO, but the organization said that it was a decentralized information incubator, providing currency circle information such as PoW, PoS, DeFi for currency friends. The members of the organization include all kinds of self-media, personal enthusiasts, and investment institutions. They are more like a loose alliance.
Some currency friends said that in essence, Bitcoin and Ethereum belong to DAO. Qige believes that no matter from what perspective, DAO still needs a long time to reach such a consensus. Trying to strengthen the concept of DAO and weaken the concept of the project itself will run counter to the starting point of the project stakeholders, as if WeChat would not emphasize that it is an APP. Of course, if DAO could one day develop into a consensus such as APP, I would not think there would be any projects that would not be recognized. I have to admit that DAO is still a small group of people involved in Ethereum, and a small number of people are paying attention. I wish DAO can really become the next vent!
Reference links in the article:
Moloch DAO white paper
ethfans introduces Moloch
Introducing MetaCartel DAO
Introducing Marketing DAO