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DAO votes to join Blender Development Fund as Patron member

blender.org

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

#41

Post by vvpan »

Lots of people asking about DAOs. So here are a couple of resources you can look up.

To look at a large list of different DAOs with info about what tech stack they run, how big the treasuries are, etc., look here: https://deepdao.io/#/deepdao/dashboard

Here is a good article written in layman's terms (it's CNBC after all) about the concept and current landscape of DAOs: https://www.cnbc.com/2021/10/25/what-are-daos-what-to-know-a...

If you want to get a peek into organizational minutiae that DAOs deal with the CabinDAO does a great of documenting it. For example: https://creators.mirror.xyz/Le68ptgaqsBh1g6w8UqqVL2kIrA_Lqn3...

And here is a mega-collection of resources on the ever-evolving landscape by a16z: https://future.a16z.com/dao-canon/

I am a happy member of two DAOs in case some people think it is a conflict of interest.

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

#42

Post by ajross »

dcolkitt wrote: post #37
ajross wrote: post #16

Earlier quoted context omitted.

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 a misunderstanding. Many DAOs have off-chain legal entities attached. In American law, corporations are people. American Courts will give a very high leeway to respecting whatever corporate bylaws dictate. Including being governed by code. It’s very easy to register a Delaware LLC which states that it’s board decisions are whatever output a smart contract spits out.

> It’s very easy to register a Delaware LLC which states that it’s board decisions are whatever output a smart contract spits out

Yes, but you still need people. The point was more than anonymous funders have no standing to sue. You're right you could have a conventional corporation fund itself with a DAO, but you're still trusting that corporation with your anonymous cash and if they take it and run you're SOL.

At the end of the day unless you're willing to put a signature containing your legal name as a human being down on a contract written on paper[1] the law isn't going to protect you. And if you are willing to do that, a "DAO" doesn't bring much to the table that, say, a plain old trust or LLC doesn't.

[1] Not actual signatures, not actual paper, but a real human being.

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

#43

Post by FranksTV »

vvpan wrote: post #39
nightpool wrote: post #36

Earlier quoted context omitted.

That's pretty funny, that's basically identical to how standard corporations work, except instead of "signatories" you have "corporate officers" and instead of "off chain voting" you have (very thoroughly-regulated!) "shareholder proxy statements".

Well that's the point actually. It is a lot like shareholder/board of directors voting. Except that the DAO requires virtually no bureaucracy to get up and running. So if, say, you and your local community wanted to start an organization to fund some common-goods project you can do it in a few minutes, provided you have people who are onboard with the vision and have a little money to put in. After that all voting an…

The code doesn't really replace the corporate structure, as the structure is the same. The code replaces the ledger, I suppose, but that's about it.

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

#44

Post by thrixton »

vvpan wrote: post #41

Lots of people asking about DAOs. So here are a couple of resources you can look up. To look at a large list of different DAOs with info about what tech stack they run, how big the treasuries are, etc., look here: https://deepdao.io/#/deepdao/dashboard Here is a good article written in layman's terms (it's CNBC after all) about the concept and current landscape of DAOs: https://www.cnbc.com/2021/10/25/what-are-daos-w…

This is great, thank you.

My understanding is that most jurisdictions seem to equate the ICO / tokens as securities and as such should be regulated in a similar manner to an IPO.

Do you have any good links on that or what is your experience?

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

#45

Post by tpxl »

ajross wrote: post #34
tpxl wrote: post #27

Earlier quoted context omitted.

> 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.

To be clear, that attack (also the The DAO event that caused the ethereum fork) was a hack. It was a bug in the contract that got exploited. And that's a risk too. But even if a DAO does everything right, technically, they're still subject to the problem of having to trust entities in the real world (e.g. "whoever on the Blender foundation gave them the address to pay") to behave the way they promise (e.g. "actually…

Don't get me wrong, I agree with you completely. There's nothing to be done in this case since the hackers are anonymous, but alas, noone seems to care.

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

#46

Post by vvpan »

thrixton wrote: post #44
vvpan wrote: post #41

Lots of people asking about DAOs. So here are a couple of resources you can look up. To look at a large list of different DAOs with info about what tech stack they run, how big the treasuries are, etc., look here: https://deepdao.io/#/deepdao/dashboard Here is a good article written in layman's terms (it's CNBC after all) about the concept and current landscape of DAOs: https://www.cnbc.com/2021/10/25/what-are-daos-w…

This is great, thank you. My understanding is that most jurisdictions seem to equate the ICO / tokens as securities and as such should be regulated in a similar manner to an IPO. Do you have any good links on that or what is your experience?

I have not yet seen a governance token, such as ones issued by DAOs, get under fire. From what I inferred over the past few years only very specific tokens are considered unregistered securities so I stopped worrying.
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