Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

DAO votes to join Blender Development Fund as Patron member

blender.org

Post reply on HN
Print view View original

21–30 of 46 posts

Re: DAO votes to join Blender Development Fund as Patron member

#21

Post by dbt00 »

ajross wrote: post #16
SuoDuanDao wrote: post #10

Earlier quoted context omitted.

Decentralised autonomous organization. Picture a corporation, but instead of a board and CEO the shareholders vote on what to do directly. I'm sure someone more knowledgeable than I could come up with a better analogy.

Also instead of a legal entity with the ability to petition the government for redress of grievances, it's just a bunch of data emitted by some smart contract code. This is going to turn out to be important the first time a DAO gets significantly scammed. Someone's going to take the money and run, or otherwise violate the "contract" that the DAO thought it was "enforcing", and... there won't be anything to do. There…

> This is going to turn out to be important the first time a DAO gets significantly scammed. Someone's going to take the money and run, or otherwise violate the "contract" that the DAO thought it was "enforcing", and... there won't be anything to do. There won't be any way to fix it. The smart contract doesn't handle the edge case of having to hire a lawyer on its own behalf.

This already happened, and they hard forked the Ethereum blockchain to revert the hack.

https://www.coindesk.com/tech/2016/07/20/ethereum-executes-b...

Re: DAO votes to join Blender Development Fund as Patron member

#22

Post by dkersten »

mangecoeur wrote: post #6

Always glad to see funds go to a great and well managed Open source project like Blender! That said, looking up what the hell is 'Decentraland' and how it works is to dive into a dystopian nightmare. Cutesy illustrations tell you: 'Decentraland: it's like a second rate RPG, except instead of in game currency you have to use your actual cash to participate in a tech-bro pyramid scheme where each coin has the climate i…

I looked into Decentraland about a month ago (because someone I know was going on about it) and to me it looked like what I remember Cybertown [1] was circa 2000, except with NFT's. I wasn't very impressed, even visually, it looked quite dated.

[1] https://en.wikipedia.org/wiki/CyberTown

Re: DAO votes to join Blender Development Fund as Patron member

#23

Post by aeolian »

ranuzz wrote: post #15
ksec wrote: post #7

I really need to find the time to go and learn what DAO is. But if anyone could do a ELI5 would be great.

I have spent some time learning about DAOs and this is what I understood. Please correct me if there is a mistake. Coined as Decentralized autonomous organization, they are decentralized applications whose main function is to handle fund disbursement. They work more or less as any other treasury but in a more transparent and automated way. What further separates them from the traditional treasury is that they are ess…

As a member of a DAO, this is almost-right.

A DAO isn't necessarily an "application"; it's more of a concept, an idea.

There are a bunch of tools/applications that facilitate the operation of a DAO. I wrote a blog post about this: https://blog.juicebox.money/dao-tooling-101/

In the case of the JuiceboxDAO, I contributed funds (ETH) to the DAO treasury (bank account), and in return I got $JBX (a token that lives on Ethereum). I have about 40,000 JBX tokens. With these token, I can: - use it to vote on proposals. - "burn it" in exchange for some ETH back (but probably not get my original investment - sell it somewhere else (an automated market maker like Uniswap)

Re: DAO votes to join Blender Development Fund as Patron member

#24

Post by cblconfederate »

I assume this is Decentraland looking to attach itself to popular open source projects for publicity. It's actually good if it works for them, but i dont get their product. Very few people use it, their worlds look childish and nobody is in them. Yet somehow they sell their parcels for millions.

In contrast, opensimulator.org is open source, self-hosted, decentralized, much more beautiful, has an active and happy user base of thousands, and it gets $0 in funding from anyone. The main developer doesnt even get any donations. how does that make sense

Re: DAO votes to join Blender Development Fund as Patron member

#25

Post by aeolian »

marmada wrote: post #19

Can someone w/ more crypto experience explain how a DAO actualizes its decisions? For example: Here, there was a vote. Now what? Will Blender setup a wallet that can accept ETH? Will the DAO then vote on a transaction that sends money from the DAO to Blender's ETH wallet??

I'm not sure about Decentraland specifically, but typically there will be a subset of the DAO members who actually control the DAO treasury in a "multisig wallet". Say they have 10 signatories, they might have a requirement that 8 of the 10 signatories approve a transaction to either send ETH to Blender, or do the necessary swaps to give Blender USD. The signatories have committed to execute the will of the DAO.

Voting happens "off chain" using a tool called Snapshot (https://snapshot.org/#/snapshot.dcl.eth). If people hold some Decentraland tokens/assets, they can vote, and their vote is weighted in proportion to their holdings. This isn't without its problems: https://vitalik.ca/general/2021/08/16/voting3.html

If you want to learn more, I wrote a blog post on DAO tooling 101: https://blog.juicebox.money/dao-tooling-101/

Re: DAO votes to join Blender Development Fund as Patron member

#26

Post by [deleted] »

aeolian wrote: post #25
marmada wrote: post #19

Can someone w/ more crypto experience explain how a DAO actualizes its decisions? For example: Here, there was a vote. Now what? Will Blender setup a wallet that can accept ETH? Will the DAO then vote on a transaction that sends money from the DAO to Blender's ETH wallet??

I'm not sure about Decentraland specifically, but typically there will be a subset of the DAO members who actually control the DAO treasury in a "multisig wallet". Say they have 10 signatories, they might have a requirement that 8 of the 10 signatories approve a transaction to either send ETH to Blender, or do the necessary swaps to give Blender USD. The signatories have committed to execute the will of the DAO. Voti…

[deleted]

Re: DAO votes to join Blender Development Fund as Patron member

#27

Post by tpxl »

ajross wrote: post #16
SuoDuanDao wrote: post #10

Earlier quoted context omitted.

Decentralised autonomous organization. Picture a corporation, but instead of a board and CEO the shareholders vote on what to do directly. I'm sure someone more knowledgeable than I could come up with a better analogy.

Also instead of a legal entity with the ability to petition the government for redress of grievances, it's just a bunch of data emitted by some smart contract code. This is going to turn out to be important the first time a DAO gets significantly scammed. Someone's going to take the money and run, or otherwise violate the "contract" that the DAO thought it was "enforcing", and... there won't be anything to do. There…

> This is going to turn out to be important the first time a DAO gets significantly scammed

Badger DAO got scammed for 120 million USD last week and I doubt they were the first.

Re: DAO votes to join Blender Development Fund as Patron member

#28

Post by zucker42 »

cblconfederate wrote: post #24

I assume this is Decentraland looking to attach itself to popular open source projects for publicity. It's actually good if it works for them, but i dont get their product. Very few people use it, their worlds look childish and nobody is in them. Yet somehow they sell their parcels for millions. In contrast, opensimulator.org is open source, self-hosted, decentralized, much more beautiful, has an active and happy use…

Blockchain mania.

Re: DAO votes to join Blender Development Fund as Patron member

#29

Post by 22c »

marmada wrote: post #19

Can someone w/ more crypto experience explain how a DAO actualizes its decisions? For example: Here, there was a vote. Now what? Will Blender setup a wallet that can accept ETH? Will the DAO then vote on a transaction that sends money from the DAO to Blender's ETH wallet??

The most common way it works is that a snapshot of all holders of the governance token is taken at a certain point in time and a proposal is made, which all holders in the snapshot are able to vote on by signing their response.

Blender already accepts donations on Ethereum mainnet at 0x9De8991C56F622175274fb358f981AF6F903a799. The proposal which passed was to send a "one-time" donation to Blender, but it's not clear if they're going to be sending MANA (which is the currency in use on Decentraland) or if they're going to send a USD equivalent stablecoin. Unless the Blender devs are willing to be paid in MANA, it will need to be converted to fiat at some point.

Re: DAO votes to join Blender Development Fund as Patron member

#30

Post by corobo »

aeolian wrote: post #23
ranuzz wrote: post #15

Earlier quoted context omitted.

I have spent some time learning about DAOs and this is what I understood. Please correct me if there is a mistake. Coined as Decentralized autonomous organization, they are decentralized applications whose main function is to handle fund disbursement. They work more or less as any other treasury but in a more transparent and automated way. What further separates them from the traditional treasury is that they are ess…

As a member of a DAO, this is almost-right. A DAO isn't necessarily an "application"; it's more of a concept, an idea. There are a bunch of tools/applications that facilitate the operation of a DAO. I wrote a blog post about this: https://blog.juicebox.money/dao-tooling-101/ In the case of the JuiceboxDAO, I contributed funds (ETH) to the DAO treasury (bank account), and in return I got $JBX (a token that lives on Et…

I think I'm very close to beginning to understand this whole thing haha thanks for the post

Oddly enough I've already been wanting to set something like this up -- my equivalent is running a regular business but with a pretty intense profit share scheme

Honestly it sounds perfect except these gas fees. Can someone clarify am I right in thinking it's prohibitively expensive to create any of these tokens/shares/votes/whatever because of fees? Assuming you're broke as hell and missed the original crypto train

Post reply on HN