, 9 tweets, 7 min read Read on Twitter
1/ Over the last year, several of us have worked in our spare time to design and build a grants-DAO/Guild called 👹 Moloch 👹. If everything goes as planned, Moloch will launch in 1 month at @EthereumDenver.

github.com/molochventures…
2/ First things first - THIS IS AN EXPERIMENT. It probably won't work. Most attempts at solving coordination problems fail miserably. That said, *if* it does work, it could be one of the coolest things to happen on #Ethereum to date.

And if it fails we can always try again 🤓.
3/ We decided on Moloch—not a particularly family friendly name—because we find ourselves inspired by the rationalist text "Meditations on Moloch", in which Moloch is posed as the God of coordination failures. We must summon Moloch...to defeat Moloch.

slatestarcodex.com/2014/07/30/med…
4/ One of the most important coordination problems facing #Ethereum today is the tragedy of the commons that exists around funding core protocol development. 100% of new ETH issuance goes to miners so all core dev must be funded by existing ETH on a voluntary basis. Yikes.
5/ Thus far @EFgrants has lead the charge, with @ethstatus and @ConsenSys rallying to help fund ETH 2.0. But there is room to scale up, and teams like @prylabs could still use more funding to hire more devs and feel secure in their runway.

6/ Further, activists investors like @fredwilson are sitting on their hands. They want to help but don't know how. Moloch presents them the opportunity to put their money where their mouth is and earn a voice in the community.

7/ This may sound crazy, but by the end of 2019 it's possible that Moloch has $100M+ in the Guild Bank and has issued up to $5M in grants. If The DAO was any indication, the ETH community are pragmatic and willing to coordinate.

2019 is the year of DAO.

8/ So if you want to help get Moloch ready for primetime, let us know! We'll need more eyes on the smart contracts, help evaluating the game theory, suggestions about the initial parameterization, and to discuss logistics around coordination.

🦄 YOLO 🦄

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