DAOhaus
Buy, sell & showcase NFTs as a DAO
Last updated
Buy, sell & showcase NFTs as a DAO
Last updated
DAOs allow individuals to invest in projects (via effort/resources/funds) at their earliest stages, way before VCs are able to invest. Individuals are able to go where traditional VCs can't. They can get early exposure to projects when there isn't even a company/legal entity. When there's only a GitHub and a chat room perhaps. Pre-core team, pre-deck, early-stage meme investing. We'll see thriving communities form around DAO-first token projects before there will be a pitch deck.
DAO Shares will be allocated from day 1 in a meritocratic manner where there will be no longer founder pre-mined tokens or company equity. Everyone in the project will request DAO shares for providing work or capital. Everyone will invoice for their time, energy, effort as well as funds provided. Unfair projects will fail to attract and incentivize contributors. Contributors are now able to leave DAOs permissionless with their rightful economic stake in the DAO. (Featuring a Moloch-style "RageQuit" functionality is fundamental to protect contributors)
NFTs are scarce and discrete. Native tokens are many and divisible. NFTs create small, tight communities of collection holders. Native tokens are able to expand to include millions of participants and contributors. NFTs excel as proof of membership and the key to unlocking certain benefits (events, experiences). Native tokens excel as a way to account for, pay, and incentivize the actions of others.
Goal: a minimalist template that presents a single smart contract that deploys and enables Moloch features, such as weighted voting and ragequit(), but extends out with more contemporary concepts taken from Gnosis and Compound governance tools. If a Baal is summoned by a single member, proposals are instantly processed. Similarly, if a proposal passes the majority threshold by existing members, proposals can be processed immediately. This allows Baal DAOs to move quickly in their early stages to assign interests and pay vendors. Joinder and exit is as simple as buying and selling a governance token.
Owned and operated by the GVO DAO, $GOOD $VIBES is a token supporting what's next in web3. LTL is a contributor to GVO and a community member of the GVO DAO and will be using $GOOD $VIBES as one of the primary tokens in LiveTheLifeTV projects.
The LiveTheLifeTV Discord was launched in June 2020 by the LiveTheLifeTV (LTL) Genesis team as a way to onboard the first waves of members in the LTL community and to engage in open discussions with LTL’s future users and contributors. LTL has 80K FB Fans, most of which are non-crypto-native. Let’s onboard them into web3! "Onboarding into Web3" is vague because most people get into Web3 to make money as opposed to being a ‘contributor’. We're creating a path for people to become contributors as opposed to just traders. While the beauty of trading will always be foundational to Web3, enter the Era of the Contributors.
The Genesis team proposes to allocate some funds to kickstart the DAO Treasury and begin its progressive decentralization process. We will propose a transfer to a newly-created DAO treasury for the community to support LTL's development. The Genesis Team will onboard at least 33 premium artists, in close collaboration with co-founder Dimitri Daniloff and Odyssey.
As it stands today, the DAO is being kickstarted using a basic set of governance and communication tools to support transparency and a closed feedback loop on the way to community market fit (CMF).
The Genesis team commits to engage in the process of progressive decentralization over the coming months and years, to continuously integrate better governance tooling, delegate more responsibilities and invite more community participation in the protocol’s growth and maintenance.
The DAO will enable its members to voice their opinions and participate in the decision-making process of the organization and protocol using Snapshot. The open workstreams are yet to be created and will only allocate tokens, based on the contribution of time and talent.
The DAO’s Discord is the recommended communication tool for the community to discuss. It is token-gated to be only accessible by community members holding NFTs corresponding to their specific onboarding roles.
The community still requires going through the onboarding process to its full extent. The Genesis Team does not yet delegate the right to submit governance proposals to the community. The protocol is still in alpha, so the community cannot participate in the setup of its parameters. Proposals are not binding or use any mechanism enforcing their outcomes on-chain. The DAO does not have the right to vote on the treasury allocation decision-making. All of this is about to change as soon as the Delaware C with FAIRMINT* is up and running. Legal docs are currently being drafted and reviewed by the team and its legal advisors.
DEWORK is the toolset envisioned for tracking the tasks, their ownership and accountability as well as its successful completion as a token distribution trigger mechanism. Besides the task-related token distribution, there will also be airdrops performed. As a social experiment, the Genesis Team would provide the community with the incentive to fund continuous development, as soon as the tokens have liquidity powered by FAIRMINT.
The DAO was initially set up as a social DAO, gathering curated members sharing similar interests. The DAO needs to evolve from a gated social DAO to a product-centric DAO. Art Vaults will license the IP of our Artist Collective for the members-only merch, XL master prints & a metaverse Gallery.
As we scale our Art Collective with new photographers we will need a dedicated portal to display their entire collection of Photography Art and allow Collectors to easily filter through them.
We will experiment with Art Collector Sub DAOs powered by DAOhaus. Our end goal is to use the Rarible SDK to ship an auction house that does only one thing and does it well. Sometimes, what matters the most, is doing the things that don't scale. In this case, that's onboarding iconic photographers to the world of NFTs and focusing on Curation, Curation, Curation. Later, we will explore the Curator Fee mindset that Zora V3 has pioneered.
Curators decide which NFTs have value, and which do not. Curators signal to value and offer services like distribution and strategy to enhance that value. Without curators - there is no market for NFTs and therefore, no value. Web3 agencies like LiveTheLifeTV curate NFT strategies, exchanging a percentage of sales in exchange for distribution channels, administrative overhead, and a seal of approval to facilitate successful drops. We bundle premium services to build deeper relationships with superfans - specifically to empower and incubate their biggest curators. As Creator DAOs and Sub-DAOs start to pop up , so too will the opportunity to participate in those collectives. They are the individuals, groups and communities organizing around new collections using shared capital to incubate rising talent. While the focus is currently on NFTs, the next chapter of curation is fungible tokens. Curators will offer democratized access to their collections, and give all participants a way to capture their upside. Curators will grow their community treasury to feature a diverse pool of NFTs, ETH to invest, social token partnerships, and curation tokens from marketplace rewards.
In the near future, all marketplaces will feature curation tokens as an incentive to release on a given platform. Tokens enable curators to signal towards which creators (and individual NFTs) are most valuable. Curators that attract the most sales earn the most rewards.
Curators share in a marketplace’s upside by earning tokens or receiving a percentage of sales when a purchase is made through a referral or based on a curator’s delegated stake. This is drastically different from today where fees are captured exclusively by the core team, rather than a global community of tokenholders.
When this transition happens, the most active curator (measured by volume and usage) will receive the largest allocations of retroactive airdrops, drastically boosting their signal and curation abilities.
The Main Treasury is used for Grants; Internal Improvement proposals and managing members. It offers skin in the game to the members (1 ETH fee to join) and has a ragequit mechanism. Membership is represented by non-transferable shares.
When new members would like to add tributes to join, you will need to submit a Membership Proposal and indicate your tributes provided and shares requested. Currently, only ERC-20 tributes are available, but ERC-721 NFT tributes are coming soon.
Requesting Funding from the Bank
If you'd like to request funding from the Bank, submit a Funding Proposal and indicate the funds owed to you.
A characteristic that wasn't widely prominent in the web3 world before the advent of DAOs, is that of having "Skin in the Game". This unique feature allows DAO members to signal their loyalty and committment to their respective organization, and it provides DAOs with a mechanism for preventing possibly malicious actors from joining.
Membership in a DAO can be seamless, easy in/easy out. Prospective members can submit a Membership Proposal by navigating to the DAO they're interested in and selecting View Proposals, subsequently clicking New Proposal and Membership, existing members can vote on whether to accept or deny admission of candidates on a case by case basis.
Members can exit at anytime, as long as they don't have a 'Yes' vote on an open proposal
Shares are granted to members in order to allow them to vote on proposals in the DAO. Shares also represent a claim on the tokens held in the DAO. Shares can neither be exchanged or sold to other members of the DAO.
Non-voting Shares in the DAO. Guilders can ragequit Loot to withdraw proportional amount of assets from the DAO based on current Share Value.
This is part of the magic of Moloch. Rage Quit allows a member or Loot holder of the DAO to leave with all or part of their share of the tokens. Imagine a DAO that has 1000 DAI, 50 Shares, and 50 Loot. That means if you own 100 Shares of the DAO and ragequit all of your shares, you’d leave with 100 DAI, or 10% of the treasury.
1. Submit Proposal
Anyone, even non-members, can submit proposals to the DAO.
2. Sponsor Proposal
After submitting a proposal, it will enter the Unsponsored Proposals section. This means someone with shares (which could be you) must Champion the proposal in order for it to be moved to voting.
Note: You can sponsor your own Proposal, but it is recommended that you have another member sponsor it so they can make sure you have filled out the proposal with the correct information and you get the result you intended for.
Only members can 'Sponsor' the proposal, sending it to the Queue
3. In Queue
Once the proposal has been sponsored it will enter the Queue. The queue ensures proposals are funneled to voting in an orderly fashion. One proposal will go from the queue to the Voting Period in a time-frame specified by the summoners of your DAO.
4. Voting Period
Once in the Voting Period, members can now vote on the proposal. Every proposal has an 'x' amount of time in the voting period where it must receive more Yes than No votes to pass.
5. Grace Period
Voting is over, and the Proposal is set to pass or fail depending on the votes cast during Voting. Members who voted No, and have no other pending Yes votes, can ragequit during this period
6. Ready for Processing
Next, The proposal is sent to Processing in which the vote is time stamped on-chain.
7. Completed
After being processed, the proposal is marked as Completed, and all shares, funds or outcomes are executed as specified in the proposal. All outcomes of a proposal that affect you can be viewed by clicking your Address (top right) and selecting View Member Profile.
Create and vote on the execution of external contracts. At its core, Minion is an escrow program that receives funding from a DAO. However, the Minion can only transfer funds to another Ethereum address after it has been authorized by DAO members via their proposal sequence — a true programmatic proxy.
Through Minion, Moloch-based DAOs will be able to seamlessly create sub-groups of DAOs, which enable DAO members to segregate and pool funds in a way that will protect investors, manage tax risk, and potentially also decrease the risk of fraud. They also open up the possibility of creating DAOs to interact with liquidity pools.
These types of Vaults are managed by the DAO through proposals. They can hold ERC-20 tokens and NFTs. Minion Vaults are non-ragequitable.
Smart contract assistants or "minions" allow the DAO to interact with any external smart contract. With Web3, there is no central point of control for the treasury or associated records of votes. This is all made possible with the Moloch v2.1 smart contract framework.
Another way to hold funds is through Minions. Minions enable your DAO to call arbitrary contracts, enabling you to do many things such as manage ENS, collect NFTs, manage treasury in DeFi, etc. As Minions can also hold ERC-20 tokens, they are useful for holding funds that will eventually interact with smart contracts (e.g. Payroll, Superfluid, etc.)
As the Minion balance is separate from the Bank's balance, the Exit Amount during RageQuits do not take into account Minion Balances. The DAO will need to calculate the Member's fair share of the Bank + Minion Balances to ensure accuracy in Exit Amounts.
A contract that allows execution of arbitrary calls i.e swapping assets in the DAO bank.
Boosts 101. The Advanced Minion has the added ability to set quorum levels so that transactions can be executed earlier once quorum requirements are met Also know as a Nifty Minion. Safe Minion: Deploying a Minion and a Gnosis Safe, this Minion stores and manage funds in a Gnosis Safe, as well as supports complex multi-call transactions. This Boost is perfect for advanced DAOs looking to trade NFTs, manage LP positions in AMMs or do other arbitrary transactions To increase proposal velocity for less critical proposals, the ability to set quorum levels enable early execution when a minimum quorum is met.
It is a coordination game, so step one is setting up the rules for the initial arrangement of the board. Mainly this means the token distribution and capital requirements. We want to set up a new game and everyone needs to contribute something. Some contribute upfront effort to organize the game, some contribute capital, some contribute technical knowledge and all kinds of other stuff. So we slice up the initial allocation. We need to work out how much we are going to allocate to incentivize early participation and further capital contribution. So we set up a DAO and deploy it with these initial rules and allow anyone to join by sending the requisite amount of wETH
Primary token: wETH
Voting period: 5 days
Grace period: 3 days
Proposal deposit: 0.1 wETH
To prevent the possibility of a hostile takeover, we recommend that initial voting shares be capped at 10,000 per account. Additional, non-voting loot shares can be provided to match a member’s full financial stake on ragequit. This limit is necessary to prevent a situation in which a voting member may hold more than 51% of the voting shares and pass proposals that may negatively impact other members. This cap, as well as possible incentives for early investors may be proposed and voted on by the community at large.
Once a purchasing proposal is made, members should either prepare for the long-haul or rage quit if they are not prepared to hold their position for the next six to eighteen months. Please note that a user may ragequit and take their share of loot in the dao bank, but there it is likely that funds will move one-way out of the bank into a multi-signature vault controlled outside of direct dao control. These details are to be determined by the community, and are not meant as binding
Once a purchasing proposal is made, members should either prepare for the long-haul or rage quit if they are not prepared to hold their position for the next six to eighteen months. Please note that a user may ragequit and take their share of loot in the dao bank, but there it is likely that funds will move one-way out of the bank into a multi-signature vault controlled outside of direct dao control. These details are to be determined by the community, and are not meant as binding.
This LTL Art Fund DAO setup utilizes a Gnosis Safe, used to manage digital assets, and a DaoHaus instance, which will allow members to raise and coordinate funds. The main use of the Gnosis Safe will be for the custody of the NFTs. Multisig “owners'' will purchase the NFTs directly on for example the OpenSea website using Gnosis’s SafeWallet integration. SafeWallet will also allow owners to perform additional dapp operations (as determined by the DAO)
For most participants, primary deposits and voting interactions will be performed via DaoHaus, a smart contract system that allows members to submit and vote on proposals. The bank, or treasury, is the core inventory module of the dao and can hold a variety of ERC-20 tokens.
To make sure that the LTL Art Fund Dao has a fair launch, we will provide the following incentive: For 48 hours prior to launch, the first 100 individuals will receive 1DAI token (for voting), and will have their address added as co-summoners, or founding members, with one voting share when the dao is launched. They will have to setup a wallet on the network and provide their ethereum address to the dao summoner with proof of work.
The LTL Art Fund DAO will be “summoned” on ETH. Investing members will need to submit a proposal offering an amount of wETH tokens as tribute and specifying a corresponding number of shares in a 1:1 ratio. There are a variety of proposal types, but two primary ones that are relevant here are membership and funding proposals.
Once a proposal is submitted, an existing member must sponsor the proposal, paying a small deposit in the process (to prevent spam). Sponsored proposals go into a queue, and then into a voting period. Share holding members must submit a signed transaction on the network to vote. If the proposal passes by simple majority, then the sponsor’s deposit is unlocked and a grace period follows, allowing current members to ragequit before the proposal is enacted. Ragequitting allows participants to take their share of loot and leave the DAO. Once the grace period has ended, a member has to enact it, via another on-chain transaction, and earns a reward. The proposer receives their deposit back, and may be the same person as the enactor. Proposals will be limited to a certain number (velocity) per day.
LTL Art Fund DAO has launched! If you would like to join connect to the network and fund your wallet, and create a new membership proposal here. For the title, provide your Discord ID, and request one share. Hit submit, sign the transaction, and your proposal will be sponsored and voted on by existing members.
As members, we get a subgroup in the LiveTheLifeTV Discourse server. This can be used to break out discussion from Discord to get feedback before the actual commitment proposal is made.
