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Join us on the journey through the world of Bitcoin
and its impact on our daily lives. In today's
episode, we'll cover how to launch a DAO using
smart contracts and governance tokens, steps
to form a DAO, popular sites for launching a
DAO, necessary tools, types of DAOs, and the
future of DAOs becoming mainstream. Have you
ever heard of a decentralized autonomous organization,
or DAO for short? It's a type of organizational
structure that decentralizes control and uses
smart contracts on a blockchain. DAOs have gained
a lot of popularity recently, and as of June
2022, the DAO ecosystem has a combined treasury
value of $8 .7 billion. Starting a DAO may sound
daunting, but it's actually not that difficult.
The tricky part is attracting people to join
and keeping them engaged. DAOs are a community
organizing model that can quickly raise and distribute
funds for social causes or protocols on a blockchain.
So, how do you launch a DAO? Well, it all starts
with using shared treasury, smart contracts,
and tokens for voting. While it's technically
possible to establish a DAO on any blockchain
that supports smart contracts, most DAOs run
on Ethereum. An interview with Jordan Garbus?
co -founder of Beats Dow, and Kent Barton, who
does tokenomics at ShapeShift Dow at Camp Ethereal
2022 in Wyoming. They discussed how to start
a Dow, the hurdles with growing them, how to
handle tokenomics and reward structure, and how
to approach bad behavior by Dow members. They
even took questions from the audience. Remember,
this is just a beginner's guide and it's not
financial or legal advice. So if you're interested
in starting a DAO, do your own research and seek
professional advice if needed. But don't let
the idea overwhelm you. With the right tools
and strategies, you might just be able to launch
a successful DAO. Hey there, let's talk about
how to form a DAO. There are several steps to
starting a DAO and we'll walk you through each
one. First of all, it's important to give your
DAO a name that encapsulates its mission. For
instance, there are DAOs named Constitution DAO,
Free Ross DAO, USA DAO, and Assange DAO. Let's
say we want to start an explorers club, DIO.
We'll call it Exploration DAO and classify it
as an Education Club DAO. The next step is to
create a mission statement that outlines what
your DAO aims to accomplish. Exploration. DAO's
mission is to finance and facilitate the exploration
of unknown places while also preserving historical
items, works, and sites. The Dow will donate
all funds raised outside of operating costs to
charities, schools, museums, and global organizations.
Now that we have our vision established, it's
time to create a virtual space for our members
to engage and communicate. There are several
platforms you can use, but the most popular ones
are Twitter, Discord, and Telegram. Twitter is
a great platform for making public announcements
and spreading the word about your Dow's plans
and initiatives. Here's the link to ExplorationDao's
Twitter, https://twitter .com slash ExplorationDao.
Discord is the preferred choice for many DAOs
due to its ability to organize thousands of people
into different roles and working groups. You
can use it to build a vibrant community and get
people involved. Here's the link to ExplorationDiao's
Discord. HTTPS semicolon slash slash discord
dot gg slash u3f89v2kzn Telegram is also an option,
but it's not as widely used as Twitter and Discord,
so we won't cover it in detail. Once you've set
up your virtual spaces, It's time to invite people
to join. You can do this by sharing the links
to your social media pages and Discord server
with your friends and followers. From there,
you can start building a community, launching
a governance token, and creating a funding mechanism.
Finally, you'll want to set up Snapshot or other
tools for voting and logging member contributions.
By doing so, your DAO can make democratic decisions
about how to allocate funds and resources. When
it comes to launching a DAO, there are a variety
of tools available to help you get started. Let's
take a closer look at some of the most popular
ones. First up, we have DAO House, a popular
protocol for joining existing DAOs or creating
new ones. With DAO House, you can launch a DAO
by setting a few parameters like the type of
DAO being launched, the addresses of the members,
and filling in the DAO's metadata. Next, we have
Collab .Land. While not specifically a tool for
launching a DAO, it's a popular tool used by
many DAOs to moderate membership. Collab .Land
verifies that each member currently holds the
DAOs token, allowing access to the DAOs various
Discord channels and kicks out members who no
longer hold the token. Then there's Aragon, an
open source platform for launching and maintaining
a DOO on the Ethereum blockchain. Aragon offers
two main products, Aragon Client, a toolkit for
developers to create online organizations that
aim for more transparency and customizability,
and Aragon Govern, a framework for DAO governance
with on -chain execution and plug -in dispute
resolution. When it comes to treasury management
tools, there are a variety of options depending
on the group's needs and treasury size. One option
is Gnosis Safe, an Ethereum wallet that requires
a minimum number of people to approve a transaction
before it can occur. With Gnosis Safe, Users
can define a list of signer accounts and the
required number of signers, so no single DAO
member can move funds independently. To start
a Web3 investment club, there's Syndicate Web3
investment clubs. With Syndicate, founders can
connect a wallet like MetaMask and collect deposits
in that wallet. After choosing a name for the
investment club, Syndicate will assign a club
token symbol, and investment clubs can become
the treasury of a DIO built around it. To vote
on proposals, a DAO will need a way for members
to vote, and Snapshot is by far the most popular
tool. Snapshot is a decentralized voting system
that allows users to create proposals and vote
off -chain, meaning votes are cast using ERC20
tokens or even NFTs to show voting power. Finally,
we have Juicebox, a Web3 version of Kickstarter.
Projects use Juicebox to raise funding from their
communities via smart contracts on Ethereum.
Projects can design a fundraising page and funding
structure and define how funds and rewards will
be distributed. Hey there! Speaking of crypto
and blockchain, have you heard of Mirror? It's
a well -known blogging platform built on blockchain
technology, and it's become increasingly popular
for its ability to help DIOs crowdfund projects
using Ethereum smart contracts and even turn
posts into NFTs. Now let's back up a bit. Before
we dive into DIOs using Mirror, do you know what
a DIO is? DIO stands for Decentralized Autonomous
Organization, and they come in various forms.
We've got fashion DIOs such as Digital Axe and
even DIOs created to buy sports franchises. But
the biggest question on many people's minds is,
what's next for DAOs? Hash Decrypt Live recently
held a panel on DAO reporting and decrypt EIC.
Dan Roberts had a chat with reporter Jason Nelson
about the rise of DAOs and how they operate.
As with any growing industry, the number of tools
available to launch a DAO will undoubtedly increase.
And with platforms like SuperDAO and DAO House,
spinning up a new DAO can be done with just a
few clicks. However, the most crucial aspect
of any DAO is being able to motivate and organize
its members to work together towards a common
goal. As DAOs continue to become more mainstream,
we'll see more tools and strategies being developed
to help DAOs achieve their mission. Exciting
times ahead! Today, we explained how to launch
a decentralized autonomous organization, set
up member engagement platforms, shared popular
sites for launching a DAO, talked about the mirror
platform and types of DAOs, and discussed how
the future of DAOs is becoming mainstream. Thanks
for listening to today's episode. I'll see you
guys at the next one, and don't forget to subscribe.