Most Popular and Valuable Tokens Are Not Issued By DAOs – Why?
Yana Afanasieva
Scaling compliance for FinTech & Crypto startups ?? Licensing (MICA, EMI), outsourced compliance/MLRO function ?? Founder of FinTech Compliance Pro Certification ? Worked for Lirium, Aza, PayPal, bitFlyer, Amazon ??
I'd like to revisit the topic of DAOs and share with you my ideas on whether or not DAOs add value to the token and what are the most common misconceptions about the DAOs.
Here are the?use cases behind some of the most popular DAOs (good or bad):
Governance structure for a single project.?If you ask me, none of the projects listed within this category are truly decentralized, but for the sake of the argument, here are the most successful ones:
Crowdfunding and pooled investments (including investments into NFTs).?These DAOs can be used to crowdfund projects and pooled investments.?
DApp governance and decision-making?DAOs can be used to govern technical governance around decentralized applications (dApps), providing a way for users to participate in decision-making. In general, these DAOs can be used to execute proposals, providing a way to automate tasks, count votes, allocate budgets, distribute rewards, onboard new members, and ensure that they are carried out in a transparent and efficient manner. (I personally could not find any credible examples for this, but let's hope they exist). Perhaps, Axie Infinity DAO could be attributed to this category, but it could also be a community DAO.
Community engagement and activism.?The idea here is to create decentralized communities, providing a way for users to own and manage their virtual spaces, address social issues, or fund philanthropic causes.
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What are the most common problems with DAOs?
How the DAO will add value to the token? I am yet to see a project where the existence of the DAO added real value or helped the team achieve their goals.?The three most common goals that the founders have in mind when creating the DAO are:
What is the "right governance model"??There are 3 most popular governance models used by DAOs:
To be very honest (and it is my humble opinion), most of these voting frameworks can work, however, I am personally still not convinced that any of these options would make a real difference. I personally view the concept of the DAO as a regulatory experiment in its very early stage of evolution. For smaller projects, just getting off the ground, I would say that the creation of the DAO and making decisions around the DAO governance are more likely to become a distraction rather than help.
What's your take on the DAOs? How do you see them evolving in the near future????
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