1. Why The Community DAO Matters
A personal reflection on the DAOs importance to ALL of Harmony
I have received amazing feedback from my candidacy announcement, and wanted to start by saying thank you.
The support from the Harmony community since announcing my candidacy for the initial council has been overwhelming; and I cannot repeat my gratefulness enough.
This is the first in a series covering “The Road to DAO’s” and how they will further aid in decentralizing the decision making of Harmony.
This article is broken down into a series of questions, for ease of navigation.
(Disclaimer: This article reflects my personal opinions only, and does not in any way represent official statements from any platform or application I work with)
“Why Should I care about a DAO?”
There are many reasons; and I wanted to share my personal opinion on how an eventual DAO will impact various members of the community.
Lets take a moment to define what a DAO is, and how they are being implemented on Harmony.
What is a DAO(Decentralized Autonomous Organization)?
“A DAO is a decentralized organization that was designed to be a transparent steward that served no centralized purpose; instead relies on open consensus to direct its decision making regarding its operating purpose.”
What does that mean in simple terms?
Think of the DAO as the host at your favorite sit down restaurant:
- You are made aware of his/her/their purpose to serve because you chose the restaurant (the organization/company/etc) the DAO serves
- The host takes your parties (the communities) order after you agree (reach Consensus) on a choice on the menu
- The host (the DAO) does not have a decision in your dinner selections, but simply acts as the means to make sure your food arrives in the way you specified it to be.
- Within this example, the patrons of the restaurant are the ones proposing additions to the menu, for other guests to then reach dinner plans.
The DAO is your connection between the Restaurant and the direct way it chooses to run its business.
How has Harmony empowered their DAOs?
The Harmony Foundation has allocated an initial budget to each of DAOs, and is providing documentation regarding the best practices learned along the way.
Funding: Up to 10,000,000 $ONE for The DAO’s that are being rolled out this year.
They are kickstarting each DAO and following this start;
each DAO will define its own work, with input from the community.
THIS is the importance, because it is moving the responsibility of decision making from the core team, and empowering the community to have
THE POWER to define what the direction of Harmony is going forward.
Which leads to..
How does this impact you as a member of the Harmony community?
1. YOU are in control
The DAO is simply the mechanism you (the community) direct it to be.
A DAO purpose built to serve a community will only act on proposals brought forward by the community; and further approved by the community.
2. Proposals are made by YOU
If you have ever said “Man, I wish the community had X,Y,Z.”
This gives YOU that power.
- Create a proposal (alone, or gather a group of community members)
- Build awareness for your proposal through marketing and outreach
- VOTE on your proposal to reach a threshold for consideration
- Have your Proposal implemented by the DAO
3. YOU are now in charge of Funding for these initiatives
While the persistant council will be tasked with establishing a host of options regarding the recurring funding mechanism for the DAO (I.E. How it funds itself in the future)
Funding will be available from the proceeds from crazy.one NFT domains and ONE name (Harmony Name Service) from the start.
Consensus will still solely be reached by the community.
This means YOU have direct control over how the DAO interfaces with the community, and what broader impact it is on Harmony as a whole.
from Li’s overview of DAOs on Harmony (full article here)
“These DAOs will greatly scale and even improve the quality of execution by more accurately targeting issues”
“We can increase the amount of deliberation and speed up the execution of product launches, community marketing campaigns and events, and grants and resource allocation by reducing the range of issues the central organization has to handle”
Further Reading from others on Harmony DAOs:
- This Primer written by Li Jiang (COO of Harmony) covers the broad overview of what Harmony has envisioned for its decentralized future, and how DAOs are the engine of this change. YOU are the fuel to those engines.
- This Reddit article written by Shawn of Wellness.ONE Staking summarizes the importance of DAOs and how The Validator DAO would be imperative to the long term success of Validators protocol wide, as well as Harmony’s decentralized future.
- This announcement written by Samuel Harrison (Head of Ecosystem Growth) covers the Mandate of the community DAO. “Transparency and Engagement”
It is required reading to understand the importance of DAOs impact on Harmony, and will be the basis for many topics I cover regarding the Community DAO.
This is simply a primer on the importance of The Community DAO, and I will be working to publish further articles/content dealing with these topics:
- What the DAO means to each community within Harmony.
- How the DAO could potentially solve the “wen marketing” question asked by the community.
- AMA with all available candidates for initial council.
- The Initial Councils “Job” and why its CRITICAL to the success of the DAO.
I will be updating the list above with persistant links as those documents/media come online over the next two weeks.