A collection of 3333 NFTs on the NEAR Protocol blockchain, the Antisocial Ape Club is leading the transition into web3. Want to create your own NFTs with some Pixel magic? We’ll see what selling the new apes will bring.
What is a DAO? An internet community with a shared bank account. Also known as a decentralized autonomous organisation. The current trend of NFT projects claiming to have a community based DAO is far from the true definition of a DAO. The following blueprint is typical of NFT projects claiming to have a DAO is:
- Set up treasury/community wallet
- Use wallet and blockchain snapshot tooling to capture and verify holders providing access to private Discord servers/channels (Gating)
- Run proposals and vote on-server (Discord)
- Team members execute treasury funding movements
This is far from a true DAO and web3, albeit it’s no fault of the project as most blockchains currently don’t have the infrastructure available to easily support true DAO governance. There are a few issues present with this current and common “DAO” set up, firstly the accuracy of governance i.e. eligible voters is flawed. For example if the snapshot of NFT holders was taken at 9am and the vote was held for a duration of 72 hrs, holder’s would be able to sell their NFT and still cast a vote within that 72 hr period. There are also a lot of steps that require user input and action and therefore are not autonomous, most DAOs in the space have team members distributing treasury funds manually and not via smart contract calls based on outcome of governance voting. The NEAR Protocol and Astro DAO looks to solve some of these common issues.
Antisocial Ape Club (@ASAC_NFT) are building on the NEAR Protocol setting up governance and processes to enable a true community based DAO (as autonomous as possible)
Here’s how @ASAC_DAO are planning on achieiving this:
The GUCCI Model
The purpose of the GUCCI model is to educate individuals on the components of a DAO that are of utmost importance. It also serves to give some clarification on what a DAO is and how it should operate.
Gating and Governance
Gating is something that is frowned upon by people who call for inclusivity and giving everyone the opportunity to join a certain DAO. That same group of people never really asks themselves, “What does gating accomplish?”
For starters, gating a community ensures only motivated individuals who will contribute are able to make it in. A lot of DAOs gate their communities using NFTs and only grant access to individuals who own a certain DAO’s relevant NFT. Other DAOs gate access by handpicking members. Opening up a DAO to everyone will flood it with deadwood. Gating a DAO negates that.
An adequate governance system is a must. The standard process for submitting proposals and voting on them should be thought of before any further action is taken. DAO infrastructure tools are essential and facilitate governance greatly.
A unified vision is a cornerstone of any DAO that aims to be successful. Unity is attained much more easily when the community is gated: only like-minded individuals will invest in the relevant NFT to join a certain DAO. Unity among members will also greatly reduce the chance of any rifts occurring due to disagreement on proposals.
What good is a stacked treasury if there is no community behind it actively engaged in building it up further and giving value back to the DAO’s members?
Culture is what makes the community stick around and form bonds with other DAO members. It is what gives an individual the sense of belonging. Culture is an essential component of a DAO, yet it is constantly overlooked. Members seem to often shift their focus to find out ways to improve technical aspects while forgetting the social aspects that bring people together.
Integrity, honesty, and trust among members are solid foundations to build on. A DAO should be incorruptible if it plans to sustain itself in the long term.
Antisocial Ape Club (https://twitter.com/ASAC_NFT)
Antisocial Ape Club DAO (https://twitter.com/ASAC_DAO)