3/ Also helpful to think about what you want to get out of joining a DAO
Is it to just see what all the buzz is about?
Is it to find a community?
Is it to be more deeply involved in building in crypto?
Is it a jumping off point to working full time in crypto?
4/ After some reflection & intention setting, you can begin your search with a more filtered POV
The shit thing is that there’s no ‘Google for DAOs’, i.e., a way to see ALL the existing DAOs in order to determine which one to choose
5/ The DAO landscape is constantly changing, but there are some good resources that try to index and categorize them to improve discoverability
6/ OK you scoured the lists and finally decided on 1-2 DAOs (pls don’t do more to start) that you are interested in exploring
The next step is to enter the ‘community’ of the DAOs, which are usually represented by their Discord servers (sometimes governance forums or Telegram)
7/ This is where your DAO exp will vary
Onboarding is a huge problem in the DAO space
Some DAOs will have a comprehensive process to get you ramped up (@indexcoop) & well-kept source of truth for context setting (@banklessDAO) while others will just be a crazy blur of activity
8/ This is where a lot of DAO newcomers get disillusioned
Discord is a rat’s nest and not very beginner-friendly
The key is FOCUS and not get lost in the noise. Some steps to help:
1/ MCon+Mainnet takeaway #2: The whole DAO contributor funnel needs work:
- Discovery: no Glassdoor of DAOs for beginners 2 browse
- Onboarding: Discords lack process for ppl 2 gain context
- Contribution: DAOs disproportionately benefits self-starters who create their own scope
2/ The most common question I get is 'what DAO should I join'
Usually the best answer I can give is 2-3 ones that I really like, but no one exhaustively knows all the DAOs
Would be great for there to be a Glassdoor for DAOs w/ verified member reviews
1/ Pretty disappointed at defi innovation right now
Maybe that's why CT has been so encapsulated with NFTs - it's where the new ideas are
We need to stop copy pasta'ing the same degen playbook and reinvent new primitives that people will actually use after LM rewards dry up
2/ Here's some shit that I want to see:
- Composable primitives that aren’t possible in tradfi
- Structured products with real-world use
- Reputation-based primitives
Here's shit I don't want to see:
- leveraged pools
- same primitive, different L1
- ponzinomics yield farming
3/ Innovation means reimagining financial products from first principles, leveraging what blockchain can do that is impossible in tradfi
@AlchemixFi combined yield on Yearn w/ upfront loans @RariCapital created isolated lending pools @OlympusDAO created protocol-owned liquidity
TLDR; Smart contract insurance has PMF due to user need (from degens) and deterministic payout from on-chain events, but also has drawbacks due to subjectivity in the claims process