2/ First growing pain: getting voter active participation
some DAOs' progress grinded to a halt due to voter apathy - something that's endemic in any pure democracy (see: Ancient Greece, modern day Switzerland)
"The root cause of this is that while I had previously been leading the Core Contributors now they were effectively leaderless...
[and] there is an absolute and critical necessity for the Core Contributors to have a leader"
6/ growing pain #3: decentralization for decentralization sake
now that I'm fully coordination-pilled, i can see that the purpose of a DAO is not to be decentralized but rather to coordinate people in a Web3-native way that champions openness + permissionless
7/ decentralization is not the end-all-be-all
in fact, decentralizing too quickly can lead to misaligned communities, voter apathy + inability to move quickly. no egs given bc id rather not call out ppl
10/ the legislative branch is the DAO that we know and love. community members that draft 'legislation' (in our case, gov proposals), deliberate, and vote on them
then they're passed to the executive team for execution. this already happens today
11/ actual gamechanger is the judiciary branch that holds the other branches accountable
"are we still executing against the vision that we set as a DAO?"
12/ another way that DAOs are growing up is the sheer amount of tooling to not only set up a DAO but continue running its operations smoothly + onboard new members
here's a thread of frens sharing awesome resources on how to get started with a DAO
1/ ETHcc takeaway #2: NFTs and DeFi are rapidly colliding together
NFTs have seen a resurgence since its peak earlier this year led by new pfp projects like BAYC, generative art like @artblocks_io, 1/1s like @Ghxsts
And I don't need to restate the crazy punk pump today lol
2/ Now NFT holders are facing the same problems that early crypto holders xp'd, esp those who have a big portion of their net worth in digital assets:
+ how do i get liquidity for my holdings
+ how get i get value generated from my NFTs
that's where the power of defi comes in
3/ liquidity
NFTs are illiquid assets. @nftx and @NiftyMuseum created pools that basically tokenized NFTs 4 easier buying selling + swapping
@genie_xyz takes it 1 step further: an aggregator for NFTs, routing to any liquidity source - even os or fnd - for the best order fill
2/ For context, there are 9 1/1 Cool Cats that exist β of which 7 are already owned by existing cat holders
Of the two that aren't released yet (the devil cat, and the golden lucky cat), the Cool Cats team will give them away to the community
3/ These cats fetch the prize of 50+ ETH. Winning 1 would be life-changing for some (me)
I put together a proposal that could simultaneously:
+ give some1 life-changing money
+ ensure the lucky cat is a focal point of the community
+ make sure the cat has exposure to the world
1/ Hasn't even been 24 hours since @FameLadySquad finished minting + weve already hit so many milestones:
β 310K ETH traded - good for #3 in daily vol behind BAYC & punks π±
β my favorite metric: >2K unique owners of the ladies!!
β floor of 0.15ETH: 3x of mint price π€―
2/ Let's double click on the floor: ladies were trading at .038 ETH this morning, slightly below mint price
floor hit a switch when @garyvee made a guest appearance in the Discord and proceeded to buy a bunch of ladies...