As we kickstart our UnbanksyTV DAO, we consider raising funds, foster initiatives through open proposals, make decisions using token and reputation-weighted voting rights, and onboard new members collectively and transparently. We consider creating an open network of designers, visual storytellers, NFT collectors, artists, and web3 devs around it, and engineer / design a token system that will serve them all by giving them a voice and a share of the value they contribute. But above all, we will be joining other DAO's that are aligned with our vision and mission: UBERHAUS, FWB PRO, BANKLESS, and OLYMPUS DAO
A new model of entrepreneurship.
Everyone who contributes scarce time and attention to our DAO should receive pro-rata rewards for producing and curating high-quality content, code and design. As we lean into building deeper relationships with participants and stakeholders, we’re looking to do this using programmable equity. As founders and VCs transition from fiat to crypto, daos/tokens/nfts replace companies/shares/ip.
DAOs are a foreign concept to most. But, in essence, DAOs are communities. They are the next big thing after social media. Web1 allowed everyone to share ideas. Web2 allowed communities to form and discuss those ideas. Web3 will enable those communities to leverage financial capital and go from discussions to action.
Our ambition is to kickstart the UnbanksyTV DAO with
- our own way to organize (DAO powered by DAOhaus/SnapShot/Discord/CL)
- our own digital swag (generative art aka code art NFTs we mint and collect)
- our own bank (HODLING = BANK + HAUS + OHM + FWB PRO)
As a crypto-native code art studio we will:
- focus on our niche (artists, art collectors, & treasury mngmt )
- consulting projects in terms of visual storytelling and UX/UI
- build software / smart contracts to solve common problems
- train people in our vertical about NFT's, DAO's and DeFi
- invest and collab with other NFT / DeFi & DAO projects
- become a Decentralized Autonomous Association (DAA)
DAO TREASURY MNGMT
Besides the DAO's governance token, there should be a portion of the treasury in liquid blue chip assets (ETH), stablecoins (e.g. DAI, LUSD, OHM), and other assets. It's always a good idea to DCA (dollar cost average) into other assets over several months or years. Ideally, a DAO’s annual budget should be less than its expected revenue and treasury investment income. DAO's can also allocate a portion of the treasury for token buybacks when the token is highly undervalued and there aren't other effective ways to deploy capital. DAO's should set up a 5-7 member treasury management committee. The treasury committee can be voted on and removed by token holders. They can leverage the existing on-chain asset management stack:
- TokenSets for customized index-like ERC20 portfolios
- Enzyme and dHedge for on-chain funds
- Potion Labs for risk management architecture
- Yearn for yield optimization
It is a coordination game, so step one is setting up the rules for the initial arrangement of the DAO. Everyone needs to contribute something, some contribute upfront effort to organize the game, some contribute capital, some contribute technical knowledge, and all kinds of other stuff.
We would love people to do things this project needs. Like producing content, designing cool stuff and deploying code. How do we do that? Pretty simple, we get people to request grants from the DAO and we pay them if they are good and we don't if they are bad. With a governance token, holders have sole discretion over which grants are paid and which aren't. Critically, there are no privileged positions!
DeFi : Money Legos
NFTs : Media Legos
DAOs: Community Legos
"NFT’s are a reflection of what I've been most passionate about the past two decades (visual storytelling & UX), the last few years DeFi was a refreshing breeze of exploration into an unknown world but what gets me out of bed every single day is mastering the art of running a DAO. LFG 🚀 2022 is the year of the DAO" — Yves
CCO > ICO
A CCO is a process of a community forming a DAO around a particular project / product in order to support its ongoing development. CCO stands for “Community Contribution Opportunity.” A CCO is different from an ICO, because it’s all about community and the contributions don’t have to take the form of money or ETH. The end result of a CCO is a project / product managed by a community rather than a small team and their investors.
The principal innovation of crypto networks is their ability to grow network effects by enabling users to share in the value they create. Each community member is chosen based upon the unique and complementary skills they can contribute to the DAO. To be selected to receive tokens, every community member will be contributing some combination of time/expertise/capital for their tokens. In order to properly gauge rewardable contributions, we’ve laid out a few areas of contributions that have a high likelihood of being rewarded, since they’ll meaningfully push on the goals. SourceCred is a technology that makes the labor of individuals more visible and rewardable as they work together in a project or community. The goal of SourceCred is to use this technology to make rewarding labor as nuanced as human contribution often is. SourceCred uses an algorithm to determine how much value a contribution or contributor added to a project overall. (here's a video to watch!) Tokens earned through SourceCred, can be swapped for NFT's. The ultimate flex.
Here’s to the crazy ones, the misfits, the rebels, the troublemakers, the round pegs in the square holes… the ones who see things differently — they’re not fond of rules… You can quote them, disagree with them, glorify or vilify them, but the only thing you can’t do is ignore them because they change things… they push the human race forward, and while some may see them as the crazy ones, we see genius, because the ones who are crazy enough to think that they can change the world, are the ones who do. — Steve Jobs, 1997
- Be creative and resourceful.
- Embrace and drive change.
- Celebrate and enjoy the journey.
- Deliver premium value to our community.
- Create fun and a little weirdness.
- Be adventurous, creative, and open-minded.
- Pursue growth and learning.
- Build open and honest relationships with communication.
- Be passionate and determined.
- Be humble.
Why Discord? It's not quite group chat, it's not quite forums, it's not quite conference calling. It's all of those things and none of them. It turns out, in that messy middle, is a place that mirrors what it's like to be human, and interacts with other humans, more closely than just about anything else on the internet. A token-permissioned DAO is a type of restricted access online community that requires the holding of a certain amount of governance tokens in order to be part of it, or else they will be booted from the community by a bot on Discord.
Go to our LiveTheLifeTV Discord & explore what we are building, if you bring your talent, time and ideas, you might be invited to join our UnbanksyTV DAO.
For now, simply follow our journey on Twitter, it's so refreshing after 15 years on Twitter to start from scratch and be much more selective in terms of who we follow, and make a couple of new friends along the way. Aloha