This Week in DAOs - December 2, 2021
A quick product update, news on the Fei-Rari merger, Other Internet's Pooltogether report, and more.
Keep scrolling to get caught up on this week in DAOs.
Reminder:
Are you a governance enthusiast? Aspiring Delegate? Trying to find a way to work for a DAO? Learn more about Boardroom’s Governance Scribe program and apply.
Product Update 🚀 - Boardroom’s New Landing Page
We’re very excited to share Boardroom’s new landing page with you all. Check it out:
With the updated landing, the fast-growing community of DAO participants, enthusiasts, and observers (read: you) can track:
Global stats like assets held in treasuries, proposals across the ecosystem, governance activity, and more.
A sortable screener listing all supported DAOs and their participation stats.
Leaderboards comparing communities on a variety of growth, and engagement metrics.
All this and more functionality updated in the individual project hubs, including in-app content editing and treasury token balances. As readers of this newsletter know, the DAO space moves fast. The Boardroom application is going to help you keep pace.
Have suggestions on things you want to see featured in the Explorer?
📊 This Week’s Stats
Ecosystem Overview - December 2, 2021:
💰 $18.56 billion in DAO treasuries 💰
🗳️ 350,645 ballots ever 🗳️
👥 56,505 unique voters ever 👥
✍️ 3,651 proposals ✍️
Governance Activity - Last 7 Days
🗳️ 8,833 ballots cast on 161 different proposals 🗳️
👥 4,850 unique voters 👥
🌐 33 DAOs with active voters 🌐
✍️ 87 new proposals created this week ✍️
📰 This Week’s News
Rari <> Fei Merger
The biggest news in DAO-land right now is the pending merger between Rari and Fei Protocol. As covered in this newsletter, the two DeFi projects are looking to join forces under the $TRIBE token banner.
The proposal surfaced two weeks ago with simultaneous posts by Fei and Rari leaders Joey Santoro and Jai Bhavnani in the other project’s governance forums. Since then, the idea has been subject to much deliberation as more details on how the merge might be conducted have surfaced.
The most significant development was a detailed merger plan submitted by GFX Labs - Uniswap and Compound contributor Getty Hill’s firm. The plan outlines:
How the merger could be technically implemented, including a ragequit/buyout function for individuals who disagree with the merge.
The post-merge financial implications, i.e. dilution of each group of tokenholders.
GFX’s compensation and long-term alignment with Tribe.
For those interested in digging into the ongoing discussion about the merger amongst the two communities:
Also, check out this podcast episode with Jai, Joey, and Derek Hsue from Reverie:
This proposed merger is a historic moment in the maturation process of DAO-to-DAO business activity.
The best part? It’s all happening out in the open. Last night, the communities held a lively discussion about the intricacies of a 9 figure DeFi merger (led by sub-25 year olds) on Twitter Spaces for all to hear. What a world!
Other Internet’s PoolTogether Report
Other Internet is a “decentralized applied research organization” focused on “social technology.” They participate in several DAOs as a governance delegate and produce high quality research reports, like this one on Uniswap from August.
Their most recent report on PoolTogether - funded by the PoolGrants program - is an awesome read which details “PoolTogether's off-chain governance and social architecture, with a focus on its Discord and governance forum.”
It is well worth a read for those (a) looking to learn more about PoolTogether and its community and (b) interested in frameworks for observing and evaluating decentralized communities.
Compound’s Failed Proposal #70
Following Compound’s Comptroller contract bug, which emanated from its Proposal #62 in September, the community has been working to improve its security practices.
First, of course, was the short term solution that came with Proposal #63 to rectify the bug.
With Proposal #70, a long term solution was offered in the form of contracting with OpenZeppelin to “Implement Security Solutions to prevent and mitigate loss of funds resulting from security risks introduced by community-proposed upgrades to the Compound protocol.”
In another example of how DAOs provide an often-exciting level of transparency to previously opaque business/corporate processes, Trail of Bits “entered the chat” to offer a competing proposal in Compound’s Governance Forum.
Ultimately, Proposal #70 failed to pass as the community decided to take more time to evaluate the competing bids for code security solutions. The discussion is ongoing so be sure to click the above link and check out how this important consideration by one of DeFi’s most important protocols has progressed.
OpenAccessDAO
In the wake of ConstitutionDAO, many ideas have popped up for how groups of people can come together, pool resources, and do cool stuff.
One of those ideas started off as “SwartzDAO” - an effort to buy and subsequently open source access to academic peer-reviewed publishing, inspired by the the late activist Aaron Swartz.
After some some back-and-forth about the name of the DAO (some objected to using Aaron Swartz’s name), the effort is now called OpenSourceDAO.
This project is worth keeping an eye on. Check out the following resources to learn more and get involved:
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