Fun

News Feed - 2023-09-29 04:09:48

Kushagra Agarwal4 hours agoDAOs need to learn from Burning Man for mainstream adoptionDAOs should learn from Burning Man’s example in simplifying their missions and governance structures and keeping community members engaged.309 Total views5 Total sharesListen to article 0:00OpinionJoin us on social networksAs they exist today, decentralized autonomous organizations (DAOs) will not scale to the masses. 


Sure, shining examples like PleasrDAO, Uniswap DAO, Synthetix’s group of DAOs, and Maker DAO exist, thriving in their respective niches. Still, none of these have gotten anywhere close to being household names.


Why, you might ask?


Related:Cybernetic organizations — BORGs — are doomed to fail


They’re too crypto.


Three of these four are protocol DAOs, driving the day-to-day operations and future growth of DeFi ecosystems. The other, PleasrDAO, is a collective of well-known crypto builders, investors, and overall thought leaders curating the future of art, on-chain.


Though these DAOs are supposed to be “crypto-focused,” we still need a model for DAOs that will transcend the industry.The organizational structure of a DAO. Source: Seth Bannon


Consider Burning Man: A DAO before DAOs were coined. A DAO truly outside of crypto.


From its founding in 1986 with just 20 guests, to its rise to a global phenomenon with an estimated 73,000 in attendance this year, the draw has always been simple, yet powerful enough to bring people together from all sorts of backgrounds.


Burning Man can be almost anything to anyone, but to everyone, it’s an escape from traditional society to an alternative in which money doesn’t rule and paying it forward does. Every year, the city gets bigger, and the camps around it offer more, despite the fact that money isn’t used during the event itself.


With the crypto bear market continuing and DAOs still stopping short of crossing the chasm, perhaps it’s high time to draw inspiration from the physical world’s most famous DAO.Central planning, but with decentralized governance


What if DAOs don’t always need to be fully decentralized?


Burning Man thrives on a model in which the non-profit plans the city and everything involved with making sure the festival and its camps can still thrive there. Simultaneously, the camps are allowed to offer services they choose to offer, as long as those services align with the greater mission, vision, and values of the event.


If that rings a bell to DAO practitioners, it’s because certain DAOs already operate with a similar structure. Take Ukraine DAO and VitaDAO, both of which Vitalik himself discusses in his seminal essay on DAOs vs. corporations.


Ukraine DAO functions with an overarching council making major decisions such as creating working groups or “pods,” funding them, and choosing what organizations or initiatives receive donations from the DAO. The working groups below the council are largely free to operate on their own, much like Burning Man’s camps, as long as they do not do so in a way that goes against the DAO’s mission, vision, and values.


VitaDAO has, as of this year, consolidated into three working groups, namely: longevity dealflow, community and awareness, and coordination. Each group has a steward that shepherds its activities and all ensure that all of their activities are always aligned with the common goal of pushing longevity research to new heights.


Both DAOs continue to operate and scale their activities in their own ways, working far beyond the typical model of “DAO as an investment fund of some sort.” If more DAOs were to draw inspiration from both their examples and that of Burning Man’s interplay between the foundation and the camps, we just might see the DAO model move far beyond crypto and more towards a shining example of what the future of all communities can be.Network states can work, can’t they?


Burning Man, in and of itself, can be conceptualized as a sort of “mini-network state.”


Balaji Srinivasan, who pioneered the idea, defines a network state as “a highly aligned online community with a capacity for collective action that crowdfunds territory around the world and eventually gains diplomatic recognition from pre-existing states.”


Though the Burning Man movement is largely rooted in the physical world, it thrives because of the idea that it’s the escape from traditional society and overall, the pressures of everyday life, for everyone.


Related: OpenAI needs a DAO to manage ChatGPT


It’s here in the power of the idea that its potential status as a network state exists. If DAOs ever hope to become ubiquitous, they should learn from Burning Man’s success here.


Why not put all or nearly all crypto on the back-end and in so doing, make it easier than ever to understand the power of DAOs? We’ve promised it time and time again, and yet, Ukraine DAO and VitaDAO are the most well-known examples of attracting people from far beyond the crypto-sphere to DAOs.


Let’s start with better manifestos.


When DAOs launch, they should launch for an audience, above all else, that can push their goals forward to a scalable reality and less for a tiny fraction of the world that “gets” tokenomics and related fields.


Let’s consider as well, making the physical world a part of their activities, far beyond involvement in conferences and other industry events. Why not have festivals that everyone can get behind, backed by DAOs?


It’s a start.


Crossing the chasm means educating the masses on the impact we can make beyond our industry bubble. We’re not there yet but with a sprinkling of magic from initiatives like Burning Man, we can be.


Crypto and DAOs by extension desperately need better roads to the rest of the world. Why not hyper-scale physical events to help us get there? Burning Man shows us that a simple vision can evolve into a global movement that persists and grows for generations, when done right.


Let’s make the first truly crypto, Burning Man, as one.Kushagra Agarwal is the co-founder of Samudai, a DAO project management platform that enables collaboration and bounty management for admins, project managers, and contributors. He also serves as a Kernel Block III member at Gitcoin, where he successfully created a tokenization platform for content creators to generate and distribute social tokens He was previously part of IBM"s Digital Transformation Labs. He holds a bachelor"s in technology in computer science from Vellore Institute of Technology.


This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.# Decentralization# Analysis# Community# DAO# Decentralize# DeFi# Web3# OpinionAdd reactionAdd reactionRead moreWho invented NFTs?: A brief history of nonfungible tokensCBDCs could support a more stable economy — if banks run the showHow AI is changing crypto: Hype vs. reality

News Feed

Crypto Founder Predicts The Collapse Of Bitcoin In This Timeframe
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Brian Quarmby2 hours agoDJ 3LAU causes a stir after opting out of Friend.tech over regulatory risks3LAU noted that the risks were high and that he has a “responsibility” to avoid regulatory gray areas.513 Total views
SushiSwap team treasury takeover looks likely, despite heated debate
Martin Young3 hours agoSushiSwap team treasury takeover looks likely, despite heated debateVoting for and against the proposal was evenly matched but recently tipped in favor of the ‘yay," despite continued criticism o
Ana Paula Pereira7 hours agoRon DeSantis vows to ban CDBCs in the US if elected presidentSpeaking at the Family Leadership Summit on July 14, DeSantis promised to ban CBDCs in the United States if he is elected president
Ciaran Lyons4 hours agoFTX’s former external legal team disputes involvement in fraud allegationsIn a recent court filing, a United States law firm that had previously offered services to FTX challenged allegations of
Marcel Pechman7 hours agoGermany is dragging Europe’s economy down — and that’s great for cryptoCointelegraph analyst and writer Marcel Pechman explains how a weakening German economy — Europe’s largest — is
MrBeast Enters The Aster Game: $1M Buy Signals Growing Interest
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin ‘explosive move’ looms as Bollinger Bands reach tightest points
Ciaran Lyons3 hours agoBitcoin ‘explosive move’ looms as Bollinger Bands reach tightest pointsA key Bitcoin trading indicator has hit its “tightest point” in a year. The last time it happened, Bitcoin pumped 20%
US Inflation Remains Scorching Hot, Jumping to 9.1% in June — White House Says CPI Data Is Already ‘Out-of-Date’
US Inflation Remains Scorching Hot, Jumping to 9.1% in June — White House Says CPI Data Is Already "Out-of-Date" According to the latest Bureau of Labor Statistics Consumer Price
Europe’s Securities Regulator ESMA Seeks to Obtain Crypto Transaction Data
Europe’s Securities Regulator ESMA Seeks to Obtain Crypto Transaction Data The European Securities and Markets Authority (ESMA) is gearing up to implement stricter oversight in r
$SAI’s Skyrocket on Friday Shows Enormous Potential in Bitcoin Heating
$SAI"s Skyrocket on Friday Shows Enormous Potential in Bitcoin Heating press release PRESS RELEASE.SAITECHLimited (SAI for short), a clean energy and computing operator based in Sin
Celsius sues Tether seeking $3.5B over Bitcoin collateral selloff
Tristan Greene5 hours agoCelsius sues Tether seeking $3.5B over Bitcoin collateral selloffThe assets in question were evidently given to Tether as collateral.1993 Total views1 Total sharesListen to article 0:00NewsOwn th