DAO for Specific Community Organizaton (Vote Delegation)

MDN

Hi everyone,

I want to start a proposal on setting up a DAO ( Decentralized Autonamous Or) for for subset of community members of Nebulas to delegate their NAT votes to for voting. I’d love your feedback on this pre-proposal -> please leave comments below.

Problem

Not all community members have the time to actively participate in voting and vetting of proposals that matters to their community consistently.

Proposed solution for discussion

As a token holder, I want to delegate my tokens to a DAO who will vote on my behalf so that I can support the type of project that I want to support by delegating my votes to a DAO who will cast the vote on proposal based on agreed upon preference (decided from within the DAO).

When the user want to support certain type of project, then he/she will discuss voting preference within the DAO that specialize in type of project vote within the DAO for voting preference, and delegates certain # of NAT to the DAO for voting for the group over x period,

When projects fits the criteria, then the DAO is responsible for casting their delegated votes base on the preference of the DAO community consistently during the period. For instance, if the DAO community agreed that Korean translation proposals are top priorities in the month of September, then the DAO will vote on the Korean translation proposals over the period

Benefit:

If implemented correctly, the DAO will allow individual community (by interest or region) to organize internally first and make community decision in a more specialized and focused setting than just voting on proposal platform
Delegation of vote to DAO , who vote consistently, will help ensure participation on key issue that matters to the DAO community consistently

Implementation

Set up a proof of concept DAO on Aragon (https://wiki.aragon.org)
Internally organize DAO (i.e. GER, French or other community) to vote on top issue preferences that concerns the mini DAO community
Delegate NAT to the DAO for voting for one month
DAO vote on the proposal that fits the community’s requirement for one month

Reference:
DAO Definition: https://www.coindesk.com/information/what-is-a-dao-ethereum
Aragon: https://aragon.one/
Daostack: https://daostack.io/

MDN

@smalloranges Would appreciate your thoughts on this🙂

m5j

This is a good idea

satoshibytes

Its a good idea and should be implemented once one issue is solved. The issue is that most community members are receiving NAT via pledging and are not receiving incentives for voting which is leading to most hording their NAT. Why would they delegate their votes if they are not being rewarded to do so.

In addition, take a look at Decred’s system for a good example of a DAO and voting pools.

MDN

Thanks all. I’ll take a look at Decred’s voting pool. re: incentive, I agree there need to be another solution for that user type (HODLer/strategic voter). The user hat this type of DAO is targeting are the users who want to vote but doesn’t have the time to do so. Also, open question on the NR rank for DAO members

MDN

@thusss Would appreciate your thoughts as well down the line.

thusss

MDN I think that is a great idea, but I dont think that members are not voting on GN because they do not have time but mainly because voting for a project would not give any benefits to the voters and now since the gas price increased, I am sure many members don’t want to spend their NAS on proprosals. Maybe it would change with the implentation of NAT on GN, but i am affraid it will not. I think DAO could be very good but the team first need to fix the current problem with the low participation and propose more incitive to make the GN platform more attractive.

Ruby

Sounds great, actually, we are considering to govern the public asset of Nebulas through DAO as well, we are hoping to leverage the systematic tool of Nebulas “Autonomous Metanet” to achieve a better DAO community, where the voting rights could be better distributed, could anti-manipulated and voting participation rate could be improved with incentives, and the entire underlying system could be quickly updated when needed through NBRE.

Nevertheless, I do agree that the community could initiate their mini DAO experiment and propose to the development of the Nebulas ecosystem together, we need more feedback on the on-chain tool and the NAT onchain-voting process.

Any further details about the DAO like size, tenor and any restrictions on the use of the proceeds within the DAO? For the beginning, I would like to propose to have the DAO pool start from something small, and we could further improve the rules of voting and rules of using the fund. Also, we might need more tools to evaluate the ROI of the fund distributed from the DAO, like how the fund is used, what result is achieved and etc.

Happy to discuss further 😀

MDN

Ruby Very cool re: use of DAO for the public asset, I think the community driven DAO can be use primarily to test out the idea and adoption. Some limitation (high level, more detail flow needed):

Limit the voting pool to (<1000 NAT) per test period (1 month)
Any fund proceed is return to the voting pool (if the reward for successful proposal as thusss is implemented, can distribute to all members of the DAO) and will be available for votes in the same designated topic within the test time period
Community members regular review executor/agent and can vote to remove the executor if the executor who did not execute as expected
Require the funds to be voting for proposal during the designated period only
Require posting of the voting results and proposals amongst the DAO memberships at least one week before the actual vote. The members can object to the proposals limited during the time

Needed DAO app:

Designate the access list that have the right to move NAT from the vault to the contract addresses
Voting app for members to cast vote
Potential use of Aragon agent to automate execution

Additional Reference:

Aragon’s agent can be used to initiate and process votes

Ecosystem Addendum:

Operating DAO also can help encourage interaction with other governance protocol communities - and grow the communities jointly.

thusss

thusss I propose some ideas already in another post 🙂

MDN

thusss I really like your proposal for voting participation reward pool. It’s an effective community building tool 🙂

Ruby

MDN I like the idea!

Just to clarify, you mean for the testing period, you would like to have the fund pool using NAT instead of NAS, and limit the voting pool to only <1000 NAT per testing period?

Also, I didn’t quite get the part for the fund proceeds returned to the voting pool section, mind elaborate further in details?

Thansks a lot!

MDN

Ruby Yes, The initial voting pool for test period would be <1000 NAT in the DAO pool. The treasury will be in NAT. That number can adjust upwards once we have hear back from the members (the projects they want to vote for exceeds 1000 NAT) . What upper limit do you think would be appropriate?

Also, once the DAO is created, there should be a period when the limit/rules we listed above can be commented on. If there’s no objection in the period, the rules are formalized as the first set of working rule that DAO will follow.

MDN

@Ruby Perhaps it would make sense for me to start the process of creating a DAO in Aragon so it’s more concrete + create a proposal on Go Nebulas as well?

Ruby

MDN sounds good to me

MDN

@Ruby Cool. Started Go Nebulas project: https://go.nebulas.io/project/216
@thusss @satoshibytes @m5j @Peacemaker thanks for the inputs.