Web3 Breakdown: DAOs
Web3 is already here, and has brought high-paying jobs with it.
Previously we talked about NFTs. Now let's talk about DAOs ⚡🧵
Yes! Decentralised Autonomous Organisations. An old concept, but something which has been revitalized by the recent crypto trends.
DAOs are collabarative structures working towards shared tasks & goals in a distributed manner. These goals can be investment, funding developement or governing a protocol.
We'll discuss some DAOs shortly. In general, DAOs are run in a distributed manner, a common channel of communication being Discord.
Members are incentivised to work towards goals or vote on issues by a backing coin or NFT.
DAOs aren't generally created with the intent of financial incentive, so no crazy numbers here. But they still try to bring a net good impact to the world. Some egs ↓
To read this post as a series of slides, check out the LI post here:
- Seed Club (@seedclubhq)
Seed Club is a DAO that builds and invests in tokenized communities. A kind of meta DAO, they run an accelerator "Seed Club Accelerator" which helps other communities and individuals to run via social tokens.
2. Gitcoin (@gitcoin)
By now most of you might have heard of it. GitCoin incentivises open source development and contributions based on DAI (a crypto coin) bounties.
These can be hackathons to tasks like creating npm packages for interacting with protocols.
3. Uniswap (@Uniswap)
Uniswap itself is a protocol which allows swapping, earning and building on top of the Ethereum blockchain.
There are a number of Decentralised Finance (DeFi) Apps running on Uniswap right now.
Governance in Uniswap is based on the UNI token, you can read more about how it works on their website: https://uniswap.org/blog/uni/
Conclusion: We'll see loads more startups which start out as DAOs soon. You just need to search "DAO" on Twitter to see the ones which have already started.
Similarly, I hope to make #permissionlesslearning a DAO soon
PS, if anyone wants a tutorial on how one can build and connect a React app with a wallet, and interact with smart contracts with React, I'm doing a live stream this Thursday for the same
Why should you care?
Boring Answer: Making bank 💰
Interesting Answer: Increasing the horizons of what you can build. Building new things. Being a part of the community.
What will we build?
→ Authenticate via Metamask (a wallet)
→ Interact with Synthetic Loot (by @dhof)
→ Display Data
PS, I'm also looking for a writing contributor and a Python programmer to join my team, so feel free to DM about that as well.