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How to Launch a DAO

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Decrypt

Sat, Jul 02, 2022

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Aliens TLDR

DAOs use smart contracts on a blockchain, with participants using governance tokens to vote on proposed actions.

The term DAO (short for " decentralized autonomous organization ") became a crypto buzzword in 2021, but the concept has real value.

DAOs continue to grow as a community organizing model, a means of quickly raising and distributing money for social causes, or decentralizing blockchain-based protocols.

Forming a DAO requires several steps: Name the DAO Create a mission statement Spin up a Discord server Set up a Twitter account Invite people to join Launch a governance token Create a funding mechanism Set up Snapshot or other tools for voting and logging member contributions Every DAO needs a name that encapsulates its mission, such as ConstitutionDAO , FreeRossDAO , Ukraine DAO , and AssangeDAO .

Exploration DAO is dedicated to funding people and organizations working to explore and preserve history.

DAO leaders like Discord for its ability to organize thousands of people into different roles and working groups.

Telegram: DAOs may also use Telegram to create groups and gather members, perhaps before forming a Discord.

The type of DAO being launched: Guild (works collectively to offer services); Clubs (little to no financial decisions); Ventures (for large financial decisions; Grants (distribute wealth); and Products (govern a product or protocol); 2.

Aragon Aragon is an open-source platform for launching and maintaining a DAO on the Ethereum blockchain.

Eventually, a DAO will need a treasury to store its funds and manage its tokens.

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.

Syndicate investment clubs can then become the treasury of a DAO built around it.

After setting up a treasury, a DAO will need a way for members to vote on proposals.

But in addition to publishing articles, DAOs can also use Mirror for crowdfunding projects that use Ethereum smart contracts, and to turn posts into NFTs. As DAOs become more mainstream, more tools will become available to offer more one-stop solutions tools like Superdao and DAOhaus, where with a few clicks, a new DAO is spun up.

But while the number of tools available to launch a DAO continues to grow, the most crucial piece of the puzzle is the ability to organize and motivate DAO members to act and work toward the DAO's mission and goal.

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