Welcome to the #11 edition of the DAOly Post newsletter 🎉
Releasing a bit late this week, but great content is coming your way! 🙌
We have a mission to inform, entertain and empower anyone who wants to be involved in decentralized communities.
Join us each week for a breakdown of everything DAOs and how you can get involved in the communities building Web3.
📖 Reads of the week
Listen to the crypto converts
Interview of 12 contributors of the web3 movement and asked what their "unlock moment" was. It also featured our own @gaildewilson 🙌 Her q&a for the article 👇
What was your original reaction to cryptocurrencies and blockchain?
Originally, I was operating under the assumption that I didn’t need to know what Web3 is, nor did I want to. I was never super interested in fintech, so DeFi didn’t seem like it was necessarily for me. I had also predominantly heard about negative use cases of crypto, which likely impacted my impression.****
What changed your perspective on blockchain’s potential?
There are a few different spots when things started to click and the power and importance of Web3 became clear.
The first thing that changed my point of view on Web3 was learning more about NFTs and the use cases of being able to verify something. I could see where this technology applies beyond finance. The verifiability of NFTs was intriguing.
Next, the shared database aspect of blockchain. As a blockchain user, you have access to all of the data you put into an app regardless if it shuts down. You could always build something else to access that information. It will never be lost.
What projects or trends in crypto are you most excited about right now?
I was working on a community platform before I moved into Web3 so my biggest trends are these community-focused projects, like DAOs (basically an online community with a shared bank account and shared mission). These communities are early and experimental but will unlock a lot and create equity for all of their members.
Building and Running a DAO: Why Governance Matters
For decentralized organizations to be successful governance must be developed to manage collective decision-making.The governance areas that are common to all DAOs are 👇
Collective asset ownership and management: DAO treasuries and balance sheets should function like decentralized corporations with considerations of assets and liabilities, liquidity, income, and where to allocate financial resources.
Risk management for assets: Volatility, price, and other market conditions necessitate continuous monitoring.
Asset curation: From collected artwork to collateral for lending, all DAO assets benefit from goals and process around curation.
Forefront Social Token Index - First Steps
What are social tokens: Enable online communities as a coordination tool which enables growth in the community through incentivizing fans to contribute.
They are going mainstream: The marketcap of the tokens making up our Social Token Index has increased from $152 million to $669 million in the past 90 days. The tracker (index forefront) is up 322% in the same time period 🚀🚀🚀
Forefront is launching an index to allow investors to gain exposer. The weighting is below 👇
on falling down the rabbit hole by theodorachu.eth
Web3 product:
Product functionality is not the moat: the moat is the community and the brand
Web3 is a game of primitive composition
Enduring on-chain products will measure twice and cut once
Web3 Culture
Crypto enthusiasts often moonlight as game theory nerds
Shill culture is here to stay
🎧 Podcast of the week
Social Token Stack
Instruction (bottom level): How they are created, become liquid and trade (defi)
Rails: How they move from user to user
API layer: How web2 companies can interact with social tokens
Application layer: How tokens integrate into user applications (tipping, distribution, etc)
🚀 Launch of the week
ConstitutionDao (📜,📜)
A DAO has been formed this week to purchase one of eleven surviving copies of the Official Edition from the Constitutional Convention will be publicly auctioned by Sotheby's on November 18th. This formation shows how easy it is to find a group of like-minded individuals and commit capital to areas of interest. This will not be their last purchase If they win the Constitution on the 18th.
🐦 Tweet of the week
🤸 Web3 Human of the week
Humans of Web3 is raising ETH to create MidsummerDAO which will produce a documentary series called “Humans of Web3 - NYC Edition”.
Check it out and support on Mirror: $WAGMI: Humans of Web3, the first MidsummerDAO production
📅 Upcoming DAO events
November 15th (IRL, NYC): Featuring A Fireside Chat W/ Alex Atallah, Co-Founder of OpenSea
December 18-19th (IRL,NYC): DefiCon
May 17-19th (IRL, Palm Beach): Permissionless
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