WEF publishes new in-depth guide to DAOs to air issues and encourage development

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News of the Day

WEF publishes new in-depth guide to DAOs to air issues and encourage development

Why it matters:?

• The World Economic Forum (WEF) released a toolkit for decentralized autonomous organizations (DAOs) on Jan. 17. More than 100 experts contributed to the document’s attempt to provide a starting point for DAOs to develop effective operational, governance and legal strategies.?
• The discussion begins with a section titled “What are DAOs” and goes on to cover DAO operations, governance and legal structures. That was followed by recommendations for each of those areas, which were also provided in a discussion format and tended to be somewhat generalized.??
• This is not the first look WEF has taken at DAOs, or even its first toolkit. The WEF published the “Decentralized Finance: (DeFi) Policy-Maker Toolkit” in June 2021 and a follow-up report in June 2022.

Crypto Daily Spotlight

Masa Finance launches soulbound Web3 identity protocol for Ethereum

Brief introduction: According to the developers, the soulbound credit score system uses over 10,000 data points to determine a Web3 user’s creditworthiness.?

Why it matters:

• Masa Finance has launched the first soulbound identity protocol for the Ethereum mainnet. The protocol will allow for standardized soulbound tokens to be minted on Ethereum for Know Your Customer verification, credit scores and other use cases.
• Soulbound tokens are tokens that cannot be transferred from one wallet to another. The concept was popularized via a blog post from Vitalik Buterin, who argued that these tokens could be used to signify governance rights for decentralized finance (DeFi) protocols or to prove that a person has attended an event.
• Masa is not the only soulbound token protocol to be implemented on a blockchain network. Binance has released its own version, called BAB, which can be used to prove a user’s identity. However, BAB is currently only available on BNB Chain. Masa appears to be the first soulbound token protocol available on Ethereum.

Daily Sector Tracker

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3. Polygon enlists Xternity to migrate multiplayer Web3 game from Solana
4. Crypto Conglomerate DCG Suspends Dividends Amid Distress at Genesis Unit
5. Latin American Web3 Infrastructure Provider Parfin Raises $15M

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