Discover and read the best of Twitter Threads about #TheDAO
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Ok, here’s a story about #DAOs, their evolution, and their on-chain/off-chain nature.
Back in 2014, @VitalikButerin wrote what is essentially Ethereum’s original position paper on this subject, the famous DAO/DAC post on ethereum.org.
👇👇
Back in 2014, @VitalikButerin wrote what is essentially Ethereum’s original position paper on this subject, the famous DAO/DAC post on ethereum.org.
👇👇
DAOs were quite abstract concepts back then, there were no such things in production.
There was also a sense that DAOs were something new, a revolutionary species of digital organization. And that they didn’t exist before because it was *smart contracts* that enabled them.
There was also a sense that DAOs were something new, a revolutionary species of digital organization. And that they didn’t exist before because it was *smart contracts* that enabled them.
It should be no surprise, then, that the first DAOs put a heavy emphasis on codifying their functionality on-chain, within smart contract logic.
github.com/TheDAO
github.com/TheDAO
#Thread #blockchain
La blockchain est certes connue aujourd’hui grâce aux cryptomonnaies mais elle a d’autres applications. Nous allons parler aujourd’hui des DAO qui sont des entreprises basées sur la blockchain.
1/19
La blockchain est certes connue aujourd’hui grâce aux cryptomonnaies mais elle a d’autres applications. Nous allons parler aujourd’hui des DAO qui sont des entreprises basées sur la blockchain.
1/19
C’est quoi une DAO?
DAO est l’acronyme pour Decentralized Autonomous Orgabization ou Organisation Autonome Décentralisée. C’est une organisation fonctionnant grâce à un programme informatique qui fournit des règles de gouvernance à une communauté.
2/19
DAO est l’acronyme pour Decentralized Autonomous Orgabization ou Organisation Autonome Décentralisée. C’est une organisation fonctionnant grâce à un programme informatique qui fournit des règles de gouvernance à une communauté.
2/19
Ces règles sont transparentes et immuables car inscrites dans la blockchain. Pour fonctionner une DAO recourt à des programmes qui exécutent automatiquement des conditions définies à l’avance : des smart contracts.
3/19
3/19
#Dao is another word the #crypto industry uses for ...well... anything. Here's a proposed taxonomy to clarify what we mean when we say #Dao: (a quickie sunday am #thread): /1
@VitalikButerin's seminal work discussing the types of human/tech hybrid ventures that may/will be created using censorship resistant technology tools remains the first stop for this discussion: (blog.ethereum.org/2014/05/06/dao…) /2
🧵 THREAD N°23 : Un brève histoire des DAOs
Nous avons parlé il y a quelques jours de #DAO, de ce que c'était et de ce qu'elles permettaient.
Aujourd'hui, nous allons voir des exemples concrets avec ces 3 DAOs qui sont entrées dans l'histoire 👇
Nous avons parlé il y a quelques jours de #DAO, de ce que c'était et de ce qu'elles permettaient.
Aujourd'hui, nous allons voir des exemples concrets avec ces 3 DAOs qui sont entrées dans l'histoire 👇
1/ 👉 1️⃣ TheDAO
Première DAO sur la blockchain #Ethereum, TheDAO a été créée dès mi-2016 pour fonctionner comme un fonds d'investissement auto-géré. Les membres votent pour les meilleurs projets de startups et la DAO investit dans ces projets.
Première DAO sur la blockchain #Ethereum, TheDAO a été créée dès mi-2016 pour fonctionner comme un fonds d'investissement auto-géré. Les membres votent pour les meilleurs projets de startups et la DAO investit dans ces projets.
2/ Les bénéfices sont ensuite reversés à chacun en proportion de ce qu'il a apporté.
#TheDAO a levé 12,7 millions d'$ETH (150 millions de dollars à l'époque) mais l'expérience a rapidement mal tourné...
#TheDAO a levé 12,7 millions d'$ETH (150 millions de dollars à l'époque) mais l'expérience a rapidement mal tourné...
Today I published "The Limits of Code Deference" papers.ssrn.com/sol3/papers.cf… Inspired by #theDao, #Dapps & #DAOs, this article explores whether #decentralizedventures can absolutely bind their users to their code’s execution. Not surprisingly, the answer is no. Why? A quick🧵:
These ventures use code to enable groups of people to act collectively to affect rights to #digital assets. We call these “decentralized ventures.” These decentralized ventures enable transactions among their participants in accordance w/rules created and enforced by their code;
human participants in these decentralized ventures interact with the venture, & sometimes with each other, using #smartcontracts. Smart contracts may break, or behave in unexpected ways. What happens when a smart contract defect /error harms a decentralized venture user?
MASSIVE news in #TheDAO land just now!
100,000 theDAO tokens have just been permanently taken out of circulation! ($3m USD worth). The person who burned them got 1000 $ETH in return, so not a bad reward. I hope that they kept some tokens as a souvenir 👍
100,000 theDAO tokens have just been permanently taken out of circulation! ($3m USD worth). The person who burned them got 1000 $ETH in return, so not a bad reward. I hope that they kept some tokens as a souvenir 👍
Btw, there is still over $400m USD worth of ETH waiting to be claimed in the WithdrawDAO, and a further 71,293 ETH is sitting in the "ExtraBalDaoWithdraw" contract waiting to be claimed. I've recently made a GUI for these here to make it easier to check 0xtycoon.github.io/thedao-museum/
"ExtraBalDaoWithdraw" is something that many people don't know about! You can check your old addresses by connecting with any web3 wallet, and then use the form at the bottom of my page.
It only takes one rushed project to turn someone off from #crypto forever.
Whether builder, user, supplier, or investor, take care of each other.
We learned the lesson of rushed code with #TheDAO in 2016, and again now.
If we *get it* we don’t need to keep re-learning it.
If we *get it* we don’t need to keep re-learning it.
Despite #crypto's recent noise, it's still the diehards.
It's just >10x the diehards we had in 2016.
It's hard to be adequately prepared for what comes next.
It's just >10x the diehards we had in 2016.
It's hard to be adequately prepared for what comes next.
Once this enthusiasm expands outside the diehards and a mainstream-flywheel gets going, expect the full-blown mania to be >10x what 2017 was. Exciting and terrifying.
I use 2016 not just because it fits the 4-year halving-cycle that pattern matches with 2020, but also because it was a great year of experimentation in #crypto, mostly out of the limelight.
NEW #SEC consent order with #BitClave related to $25.5mm ICO of . A few interesting points in this settlement (h/t to @collins_belton for the eagle eye) sec.gov/news/press-rel…
BitClave raised $25.5 million selling 9,500 investors (called it a fundraiser), incl. to US persons. Issuer was a US entity operating via Singapore PTE LTD. to be used to pay people to watch ads, ICO (July 25, 2017 (date of #TheDao rule 21 report!) -Nov 29, 2017)
CAT sold directly & distributed via bounty program. Sold 680mm CAT, held 1.32bil CAT. Issuer emphasized expectation that CAT would appreciate in value in WP, on social media channels, youtube. Issuer arranged for CAT to be listed on exchanges.
@HesterPeirce Let's dive in. The first thing that struck me was the tone/mission statement implied. This looks like "how do we make workable token sales that allow networks to develop" not "how do we apply the securities laws to issuers of instruments" Is this a policy shift?
@HesterPeirce or is this a new concept- that #crypto networks that require token distribution to boostrap into some non -investment-focused purpose needs to "get through" being a security to develop into a product/system that has an ultimate non investment purpose?
1/26
Content:
2 On-chain government
3 Swift evolution
4 LPoS
6 Most decentralized PoS
7 Institutional grade smart contracts
8 NYX
9 Funding for years
11 1st decentralized blockchain used by authorities
14 Formally verified smart contracts
15 Dev community
Content:
2 On-chain government
3 Swift evolution
4 LPoS
6 Most decentralized PoS
7 Institutional grade smart contracts
8 NYX
9 Funding for years
11 1st decentralized blockchain used by authorities
14 Formally verified smart contracts
15 Dev community
2/26
17 Overview
18 NYX standard
19 Tokensoft partnership
20 $3 bill STO’s announced so far
21 USDTZ
22 Tezsure
23 Coase
24 StakerDAO
25 ETH-XTZ
17 Overview
18 NYX standard
19 Tokensoft partnership
20 $3 bill STO’s announced so far
21 USDTZ
22 Tezsure
23 Coase
24 StakerDAO
25 ETH-XTZ
3/26 Tezos:
On-chain governance. Anyone can propose an improvement, apply for funding and insert the finalized proposal on-chain, after which nodes (bakers) can vote on-chain for/against implementation in a set timeframe.
On-chain governance. Anyone can propose an improvement, apply for funding and insert the finalized proposal on-chain, after which nodes (bakers) can vote on-chain for/against implementation in a set timeframe.
1/This week at #Aracon2019, I would like to explore some core themes around #DecentralizedGovernance and #DisputeResolution together with the #crypto community working on related projects. @devinawalsh @coinfund_io @AragonProject @stefanobernardi @CambrialCapital 👇
2/THEME ONE: Are governance tokens valuable?
Token models have "eroded" somewhat these past few years: it's hard to make a token accrue value! But governance is being touted as one of the few activities fundamentally valuable to a network. How does this actually work?
Token models have "eroded" somewhat these past few years: it's hard to make a token accrue value! But governance is being touted as one of the few activities fundamentally valuable to a network. How does this actually work?
3/There are actually not too many *actionable* models in this space that I can find. But there are some. . .
