chrisackermann
commented
1 year ago Thank you for submitting this proposal, @ourflowaccount! We're reviewing and will get back to you shortly.
Open ourflowaccount opened 1 year ago
chrisackermann
commented
1 year ago Thank you for submitting this proposal, @ourflowaccount! We're reviewing and will get back to you shortly.
chrisackermann
commented
1 year ago Hi @ourflowaccount, thanks for your patience!
To confirm, your proposed solution will be a product that community managers will use directly? Do you envision any sort of business model on this product?
ourflowaccount
commented
1 year ago Hello @chrisackermann ,
To confirm, your proposed solution will be a product that community managers will use directly?
'Yes'. It's a management tool. We should focus on the leaders/managers. This will add more transparency to projects and utility to NFTs (governance, voting).
Do you envision any sort of business model on this product?
We have to consider the options depending on the target audience. If you/we want to focus on developers, we will likely have to work on SDKs and other dev tools. If we go after non-developer roles, we may want to deliver no-code/low-code features. In both cases, it's hard to charge for a tool. End users ('wallet users') are probably the best audience for a web3 product. This audience doesn't buy tools but tokens and NFTs. We think that if we charge a fee for projects using it, people won't use it. Governance participation is generally unattractive, especially if there are no financial rewards. It's also worth mentioning that we can't put everything to be voted on. The voting costs can outweigh the 'voting benefits' if we do that.
A sustainable long-term relationship is preferred, which is impossible if the project doesn't generate revenue. We believe we can generate income from Royalties and Premium features.
Royalties for System Minted NFTs Anyone can create a company and mint NFTs for users and participants. When these NFTs are traded, x% of the amount is paid as royalties. The NFTs would grant vote participation, different vote weights, or be a form to reward people.
Premium Features A DAO could add new features by owning special NFTs. Example (not a wireframe!):
In this example, a DAO can emit NFTs using the Membership Pass template, but they would need to buy an NFT from us to use the Animal Pass template.
Personally, I wish to build the tool because 'we need it', but these revenue streams are going to be a great addition to the project.
chrisackermann
commented
1 year ago Hi @ourflowaccount, thanks for providing more context on what you're aiming to build and the intended audience - very helpful to understand how you're intending to scope this project.
I can certainly see this being a valuable solution, however we're prioritizing efforts that are focused on serving developers with this program. I'm not sure if you've already taken a look, but it might make more sense to explore the Flow Ecosystem Fund program, which you can find more about here: https://flow.com/ecosystemsupport
I'm going to close this proposal out for now, but please feel free to re-open and/or reach out on Discord at chrisa#6592 if you'd like to discuss further.
Advanced Governance Systems on Flow
Grant category
Description
Design and implement a DAO solution and tools to manage a Decentralized Autonomous Organization effectively on the Flow Blockchain.
Problem statement
Governance is one of the most relevant aspects of an organization as it comprehends the structure and processes of how stakeholders can control and make decisions regarding the behavior of that organization. With the advent of blockchain technology, a new type of organization was born, the Decentralized Autonomous Organization (DAO). With it came the challenge of structuring trustless governance solutions to power decision-making in this novel environment. In our practical experience, we have encountered many technical Governance issues mainly related to the decision-making processes involved when managing resources for different projects and teams scattered throughout the world. We understand that most developers engaged with blockchain technology, like us, operate and organize in a decentralized manner. Managing decentralized operations effectively will depend on a set of tools, and this proposal covers a few.
Target Audience: Web3 Builders
Web3 builders need a tool to help them organize their companies' multiple departments and processes. Their needs will differ, but in general, they can be grouped as:
Besides features, we will provide a high-quality user experience and documentation.
Proposed solution
This is a simplified description.
Build the technical infrastructure for a DAO to effectively operate in a fully decentralized and autonomous way on Flow. In this proposal, we would like to build a DAO management system covering the first three groups: Setup, Voting, and Token Management.
This includes:
Note: We are considering fungible tokens only. NFTs could be used in a future release.Edit: We should include NFTs in the first release.Deliverables
The code will be put on GitHub.
Not included in this proposal
Impact
Besides more mature projects, we understand that Flow was designed to facilitate sales to end users, making it ideal for actual companies that need profit to thrive. We think Flow can portray DAOs as profitable institutions, driving away that ‘utopic’ perception of DAOs. If we successfully make flow the perfect place for ‘companies,’ this will attract seasoned leaders and entrepreneurs.
Milestones and funding
Total funding proposed: U$120.000. The project should be completed in between 3 to 6 months.
We could add or remove features. These are the core parts of a 'professional' DAO management system.
Roles
Contact: notflowxxc@gmail.com
I prefer not to disclose the names to avoid panic in our existing community. I'll get in contact to provide this information.