A decentralized autonomous organization, sometimes called a decentralized autonomous corporation, is an organization managed in whole or in part by decentralized computer program, with voting and finances handled through a blockchain. In general terms, DAOs are member-owned communities without centralized leadership.
Did you know Decentraland Dao has around $30,000,000 to fund projects and grow the Decentralized platform ?
This article might be for you if you interested in learning more of what goes on behind the scenes in this Metaverse Dao. This interview is from Lordlike, a Decentraland native, who's very active in the Dao and also a delegate. Im sure you will learn something new.
Lordlike, tell us a little bit about your background and how did you first get involved with the Decentraland DAO ? What inspired you to participate ?
I was involved in DAO in 2021 when I heard about DCL. I was inspired by the ability to take part in governing and managing the Community's decentralized virtual world.
What are the core values and principles of the DAO, and how do they guide decision-making?
In my opinion, the fundamental principles of a DAO include decentralization, governance guidelines, Community governance, and transparency. Decentralization ensures that decision-making power is dispersed among all participants. Governance guidelines provide a framework for stability and assist in reaching consensus. Transparency encourages openness and accountability, while the Community governance gives members the opportunity to actively take part in decision-making through voting mechanisms.
How does the DAO operate and make decisions?
The Decentraland DAO is the decision-making tool for MANA, NAMES and LAND holders in Decentraland’s virtual world. Through votes in the DAO, the community can issue grants and make changes to the lists of banned names, POIs, and catalyst nodes. The DAO also controls the LAND and Estate smart contracts.
These proposals, the votes submitted, and final results are all stored in IPFS via Snapshot, a gas-less voting client. Approved proposals with binding actions are enacted on the Ethereum blockchain by a committee by means of a multi-sig wallet. This committee is overseen by the Security Advisory Board (SAB), another multisig with trusted key holders. This Committee was voted into place by the community in the previous release of the DAO. The original proposal can be found here.
The DAO allows for two general types of proposals: proposals with direct binding actions, and governance proposals.
Proposals with direct binding actions.
The DAO allows the community to vote on binding actions that will result in changes made to Decentraland’s smart contracts on the Ethereum network. Those binding actions are:
Funding a community project by transferring a portion of the DAO’s resources to a grant vesting contract.
Adding a catalyst node to the network of servers that host and run Decentraland’s virtual world.
Adding or removing points of interest (POIs), or highlighted locations within the virtual world, to a list that is shown to users. This list helps users to find popular and interesting locations to explore.
Banning a name from Decentraland. This proposal type allows users to ensure that avatars cannot be given offensive and harmful names.
Governance proposals
Some proposals are not as simple as adding or removing an item from a list, they require community signaling, discussions and implementation paths. Those proposals should be submitted through a three-stage governance process that starts with a poll and ends with a binding proposal.
The voting process includes three steps: a Pre-Proposal Poll, a Draft Proposal, and a Governance Proposal. Each tier will have progressively increasing submission and passage thresholds to ensure important governance decisions are made by a representative majority (based on Voting Power). Each step must reach the defined VP threshold to be promoted to the next one.
Can you describe a recent decision or project that the DAO undertook, and what was the outcome?
Proposal to halt the burning of MANA when a new NAME is claimed, and instead, redirect NAME minting fees to the DAO. This outcome created a new revenue stream for the DAO.
How does the DAO handle conflicts or disagreements among members in the community?
Most commonly, the community engages in discussions and strives to achieve consensus. In some instances, members may choose not to communicate with each other. There are also cases where members might vigorously debate due to conflicting visions, but I anticipate this will diminish as the DAO matures.
How do you see the DAO evolving and growing in the future ?
I envision the DAO establishing a streamlined and transparent governance process and making strategic decisions that will enable Decentraland to become one of the leading gamable virtual worlds and identity systems in the market. I believe it is essential for the DAO to achieve economic self-sustainability to support its operations and programs long-term, especially considering that the MANA vesting contract will expire in 2030.
How do you remain unbiased when it comes to voting in the DAO, what would be things to keep in mind ?
It's crucial to always prioritize the Community's interests. There are other essential questions to consider, such as assessing the potential consequences of a proposal's enactment and determining what impact they could have on Decentraland and the DAO.
We know you are also a Delegate in Decentraland, can you explain to our readers what that is and how it impacts your understanding of democratic processes and decision-making ?
As a Delegate, I actively participate in the DAO's decision-making process. I represent Community interests and make decisions on their behalf. My responsibilities include expressing their concerns, interests, and suggestions during discussions to achieve consensus on crucial issues. This role requires ample communication, voting on proposals, proposing solutions for DAO challenges, and identifying opportunities that can positively impact the DAO and shape Decentraland's future. From my experience, I've concluded that a DAO operates as a decentralized democratic system where members together determine their virtual world's direction.
What are some of the challenges and opportunities facing the DAO right now ?
In my view, the DAO currently faces challenges such as a lack of governance guidelines and documentation, absence of a global strategy, and an imbalance in voting power. However, the DAO also possesses limitless potential with its strong Community, decision-making process, Studios, and Grant and Tender programs.
What advice would you give to someone who is interested in getting involved with the Decentraland DAO or other decentralized organizations and to someone who is interested in becoming a delegate or getting involved in community governance ?
I recommend familiarizing yourself with Decentraland and DAO by reading relevant documentation. Engage with the Community on the DAO and Decentraland Foundation Discord channels and review the current Community initiatives and decisions made by the DAO. Also, consider applying to become a Delegate if you're interested in taking an active role in governance.
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Serena Elis - Founder, of Daydream X Sea
Serena Elis is a Singer, Multi-Performer, 3D Artist, Blogger, and Music Producer. She is one of the First singers in Decentraland which is one of the first Metaverse on the Ethereum Blockchain. starting her journey in web 3 back in 2020, She's been featured on NBC news, and Mashable Magazine for her collaborations, and innovation in the web 3 Space. You can find her in the Metaverse Performing weekly and working in the Entertainment World of Web3. She's also a digital native working remotely while traveling and with a devotion to creating engaging content with resources and helping other artists.