DAO Drops

As a DAO, would you rather issue tokens to random anonymous wallet addresses for your Token Generation Event (TGE) or custom pick a target audience and offer campaigns to only relevant accounts? 

Long term, how would this targeting impact the quality of your community, and the value and longevity of your project?

Background

DAOs will eat the world and soon replace the way we do business, operate companies and create value.

DAOs are a seismic shift in the model of work, wealth, how we earn and value contributions. Instead of simply earning a wage or payment, workers gain an asset in the form of tokens in the new organisation.     

As decentralised autonomous organisations (DAOs) run democratically by their stakeholders (i.e. workers), their value relies intrinsically on its people and the community in which they operate. In other words, token value is underpinned by the quality of its members and their contributions. 

Currently, DAOs incentivise a wide range of people to seed and join their community by gifting tokens, bounties and NFTs with little understanding of who is behind those accounts.

Problem 

The problem for DAOs and crypto projects is identifying relevant people to help build a quality community of engaged members.

More often than not, incentives that giving away tokens to random and anonymous wallet addresses have a negative effect on the value of the token, and sustainability of the project as a result of:

1. Misalignment: Disinterest in that particular crypto project or DAO beyond the TGE;
2. Profiteering: People spinning up hundreds of wallets to receive tokens and sell them off shortly after.

Inevitably, poor targeting results in a nose-dive on the price when the project meets the real market.  

Solution

DAO Drops is a web3 tool that allows DAOs to refine the millions of wallet addresses for targeted airdrops and offer campaigns to identified relevant accounts.  

We do this by aggregating activity associated with user wallets relating to on and off chain activities and make this information available in filters within the platform. 

In the Telos hackathon, we focused on building out the DAO Drops feature of the amaDAO platform.

amaDAO is a marketplace dApp and management tool for DAOs.

Users simply connect their wallet, create a verified CV of their onchain and offchain crypto activity. They can even add their interests and skills.  We’ve provided a subset of this capability in the DAO Drops open source repository.

As a smartphone dApp, DAO Drops links the wallet account to the user's device ensuring they are kept informed and receive tokens they are entitled. At its’ core: a smart contract manages the whitelist to limit users to a single token and provides an onchain readable proof of which users will receive the token at the TGE.  

Why Blockchain

Records on web2 cloud servers are mutable and closed. Storing data on a public blockchain ensures the record is open and helps ensure parties remain accountable.  This is important to DAOs as they are open and transparent entities. 

Much of a DAOs founding activity is done before it has created a token.  Even after a TGE, many DAO tools today maintain data off-chain or on side-chains.

DAO Drops as part of amaDAO seeks to maintain data onchain and public where ever appropriate in the interests of DAOs and their contributors.      

Why Telos

Telos is a great example of a true DAOs' origin story.  Telos was built by a community who knew the technological advantages of EOSIO over other blockchains but also knew it could be better if it was governed and managed differently. 

Those same reasons make a great fit for DAO Drops.  Because Telos is a high speed and low fee we maintain more data onchain without the need for a side chain. Yet, we get the benefits of an EVM. Our smart contracts run with all the benefits of Telos and when needed can potentially bridge to execute directly on other EVM compatible chains.  Looking ahead, both Governance and Arbitration (Telos Decide) models built on Telos are highly developed platforms born from the needs of the Telos team in operating as a DAO. Powerful tools that may help other DAOs we'd like to assess incorporating going forward.

What's next

DAO Drops roadmap:

* Customer interviews with more DAOs

* Multi-sig wallet for DAO access to dashboard

* Assess bridging to execute contracts on other EVMs

As part of amaDAO, incorporate for:

* Live bounty gigs/jobs platform

* More datasources and enhancement of data enrichment

* Full web3 CV

* See the deck for more details.

Pitch deck

Source Code

Github repo