Editors Note: This article comes fromChatting with Xiaozha (ID: xiaonazha88), reprinted by Odaily with authorization.
Editors Note: This article comes from
Chatting with Xiaozha (ID: xiaonazha88)
, reprinted by Odaily with authorization.
Recently, DeFi, Polkadot, and NFT have been on fire. At the same time, due to DeFi, DAO has begun to enter the publics field of vision.
Let’s talk about DAO here.
secondary title
1. The origin of DAO
In 2016, an organization called the DAO was crowdfunded on Ethereum.
The DAO project rose from the ground, but ended sadly. Along with the concept of DAO, it also entered the stage of snow storage and gradually faded out of peoples sight.
Now that DeFi is hot, DAO has returned to peoples attention by taking advantage of this craze.
This has to start with YFI, the governance token of Yearn.finance. After its founder made it clear that YFI had no financial value, YFI soared from $3 to $4,500, creating a myth of 1,500 times in two days.
secondary title
2. What is DAO?
A decentralized autonomous organization maintains operation through smart contracts, and encodes transactions and rules on the blockchain to achieve openness, fairness, unattended and autonomous operation, and has no legal entity.
To understand simply, the organization in real life is moved to the Internet, and the operating rules of the organization are written in the smart contract, so as to constrain the participants and ensure openness, fairness and justice.
secondary title
3. What are the DAO projects?
DAO is a tool, a tool for organizations. This tool can be divided into three types.
1. General-purpose DAOs: Aragon, DaoStack, Kleros
2. Dedicated DAO: MakerDAO, KyberDAO, Synthetix, Yearn.finance
3. Special DAO: MolochDao, KarmaDAO, Buidl (DFO HUB)
General-purpose DAO provides a complete set of components for projects to create DAO organizations, similar to Alibaba Cloud. A dedicated DAO mainly serves a certain project, similar to a private server. Special DAO is mainly to realize certain functions, similar to some special function servers.
Special-purpose DAOs are born for projects, such as MakerDAO, KyberDAO, Synthetix, etc., which are dedicated to serving the project, so there is no token for it.
The following mainly talks about general-purpose DAO and special-type DAO with tokens.
1. Universal DAO
1) DAO leader Aragon (ANT): A standard Ethereum DAO production factory. More than 1,400 DAOs have been created on Aragon, including well-known blockchain projects such as Aave, Decentraland, Melon, Stake Capital, CurveDAO, rDAI, Commons Stack, LexDAO, and PieDAO.
2) DAOs second DaoStack (GEN): GEN attaches great importance to the decentralized decision-making mechanism. It tries to find a suitable balance between the fairness and efficiency of the proposal, making a large-scale decentralized decision-making model possible.
2. Special DAO
1) MolochDao: A DAO favored by God Vitalik and one of its members, its direct goal is to provide funds for the development of Ethereum 2.0 for the replacement of the Ethereum blockchain.
2) KarmaDAO: Andrew Lee, the founder of Web3 Journal, announced the official launch of a DAO, which exists in the form of a private chat group on Telegram. To enter, you must have 200 Karma tokens in your wallet. Once the tokens are not enough, it will be detected by robots To kick out directly.
3) Buidl (DFO HUB) Buidl is called the tool arsenal of DAO. It focuses more on the concept of building a new type of on-chain company in a decentralized manner with various tools, rather than providing governance tools for the original organization .
secondary title
4. DAO vs. DeFi, who has more potential
What is the future potential of DAO? Personally, I think it has great potential, after all, it is the development direction of various DeFi community governance in the future. Now top DeFi such as Synthetix and aave are considering going in the direction of DAO governance.
But compared with the current DeFi, who will be more valuable in the future?
