Week 4 flew by, and it’s time for another update! If you haven’t already, be sure to read the first 3 installments of this 6-week series:
After the first 3 weeks of testing DAOhaus, ELI5ers began to get their sea legs, and we were ready to explore Moloch DAO Actions. A hallmark of Moloch DAOs is there are no admins or intermediaries after the DAO is summoned. All DAO actions are completed via on-chain proposals. As a decentralization maxi, I was happy to see this as a key feature.
We started by reviewing the proposal process.
Then ELI5ers started putting forward various proposal types, with a special focus on Signal Requests and Funding Proposals. Signal Requests call for an on-chain vote on a topic, idea, etc. Funding proposals request payouts from the DAO’s treasury for a project, work completed, etc. Our testing of these proposal types was relatively seamless. As a team, we provided helpful UI feedback to the DAOhaus team, especially around making it easier to understand the financial implications of proposals.
Lastly, we experimented with what could be considered two of the more controversial features of Moloch DAOs, the Guildkick and Ragequit functions. Guildkick removes voting power from a member and converts all their voting shares into loot. This could be used in the case of a bad actor or to remove voting rights from inactive members. For better or worse, it leaves their economic stake in place. Ragequit allows members to burn their shares (in whole or in part) at any time for a financial payout. The grace period within the proposal lifecycle is correlated with ragequit. It allows members to ragequit before a proposal is executed if they disagree with the action that is about to take place.
Again our testing went off without a hitch; however, it did bring up some thoughtful discussion. The decision to have guildkick and ragequit options in place could be polarizing. Understanding these 2 essential features is imperative as they could influence whether or not the Moloch structure is suitable for your DAO.
Cultivating a Culture of Collaboration
Most ELI5 contributors are founders and/or members of other DAOs. We appreciate this as it creates an atmosphere full of diversity of thought and varying perspectives. Additionally, we believe that cross-DAO/project collaboration is key! A rising tide truly lifts all ships. Because of this, we are always looking for people and projects to collaborate with.
This week we filled our collaboration bucket, so to speak. We shared the details of the ELI5 membership structure to help a guild in another DAO, met with a member of Fight Club to brainstorm ways to cross-pollinate, and are currently testing out an alternative bounty board option for ELI5 thanks to the generosity of the Bounty Board team in Bankless DAO.
Let us know if you know of any projects or communities that might be great collaborative partners for ELI5 DAO! You can never have enough frens in the web3 world. And with that, we are off to begin week 5 of testing. Cheers to a wonderful week ahead!
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