This Week in DAOs - December 9, 2021
An update on the Fei<>Rari merger, PrimeDAO's $D2D launch, and Messari Governor
Keep scrolling to get caught up on this week in DAOs.
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📊 This Week’s Stats
Ecosystem Overview - December 9, 2021:
💰 $23.81 billion in DAO treasuries 💰
🗳️ 363,776 ballots ever 🗳️
👥 58,315 unique voters ever 👥
✍️ 3,744 proposals ✍️
Governance Activity - Last 7 Days
🗳️ 12,507 ballots cast on 154 different proposals 🗳️
👥 6,648 unique voters 👥
🌐 38 DAOs with active voters 🌐
✍️ 86 new proposals created this week ✍️
For a deeper dive into DAO governance data, check out the Boardroom Explorer.
📰 This Week’s News
Update on Fei <> Rari Merger
Last week, we talked about the biggest news in DAO world: the proposed merger between Fei Protocol and Rari Capital. If it ends up happening, it would (1) be the highest-profile DAO merger yet and (2) shape the future of DeFi.
This week, GFX Labs rescinded their merger plan after pushback from the two communities on GFX’s proposed compensation and other aspects of the plan, such as the token exchange rate.
From the above thread:
We are withdrawing the proposal because we believe that everyone’s strategic visions may not be fully aligned, and we have very high standards for both communities’ satisfaction with the proposal, in order to set an example for future DAO mergers.
Another update: an enterprising member of both the Fei and Rari communities - jakekidd.eth - initiated two simultaneous “temperature check”-type proposals in the Fei and Rari Snapshot spaces, “one for the overall merger plan, and one regarding the compensation for the work done by GFX Labs.” (Related Discourse links for Fei and Rari.)
The merger plan vote passed with near-unanimous support in both the Rari and Fei Snapshot spaces.
The compensation plan vote was not as conclusive but was an interesting example of “using a token-weighted sum to determine the final payout.” Jakekidd.eth proposed the following process:
The resulting payment will be calculated as the dot-product of the total number of each votes for each option by the list of options:
a(0) + b(50,000) + c(100,000) + d(333,000) + e(1,000,000) + f(2,000,000) + g(3,500,000)
As a simple illustration of this formula, imagine a scenario with three potential vote amounts: A, B, and C. Take the case in which these options receive 10%, 40%, and 50% of the votes respectively; the final payout would be calculated as 0.1A + 0.4B + 0.5*C.
The TLDR is that there seems to be significant support amongst the two communities to move forward with the merger but the exact implementation details have yet to be worked out.
PrimeDAO $D2D
PrimeDAO is a “collective focused on researching and building next-generation coordination tools for decentralized organizations.” Their focus is on DAO-to-DAO coordination and “DAOplomacy."
This week, PrimeDAO announced the launch of the $D2D token used to “curate, build and control a suit of DAO products and services” developed by PrimeDAO. The $D2D token. will replace the $PRIME token at a rate of 1:1, with early users awarded an additional $D2D for their work. Read the announcement:
More details on the tokenomics of $D2D can be found in this governance forum post.
PrimeDAO also has three active governance proposals about partnerships with leading DAOs.
If you’re a $PRIME holder, head over to PrimeDAO’s Boardroom page before 12pm tomorrow (December 9th) to vote:
Messari Governor
Messari has entered the governance tooling chat with an effort to help solve DAOs’ “historically complex participation processes.”
Their new Governor product pairs Messari’s research hub with a DAO governance tracker with built-in voting and delegation. The platform ensures users never miss a major proposal or vote while also providing additional context and analysis on each proposal. At Launch, Messari Governor will support Snapshot, Governor Alpha, and Governor Bravo frameworks as well as 30+ protocols and communities including Uniswap, SushiSwap, Compound, OlympusDAO, and The Graph.