Super DAO: Tokenizing Consumer-Facing Dapps On-Chain
22 November 2021 - 05:53PM
NEWSBTC
Decentralized networks hold untold promise for tapping developer
and entrepreneurial talent wherever it exists in the world,
particularly in areas where it is difficult to raise funding. By
breaking down barriers for bootstrapping new ventures and giving
projects access to essential resources, the tokenization of dapps
and services on-chain can incentivize new decentralized governance
models that redistribute power, control, and rewards to the
collective. Building on the idea of decentralized autonomous
organizations (DAOs) and decentralized crowdfunding, a new wave of
open, consumer-facing dapps that are controlled by their own native
governance systems and token-holding communities can democratize
access to the tech economy via blockchain technology. The
limitations of DAOs DAOs largely rely on a simple structure where
every member can propose an idea and vote upon it democratically.
People use them for charity, investment, governance, and
fundraising. MakerDAO, for example, is governed by MKR
stakeholders. Apart from its on-chain governance, there is also an
off-chain discussion for general feedback. It is used before
on-chain voting to evaluate the overall sentiment about issues
affecting the MakerDAO ecosystem and determine a consensus
regarding their resolution. A DAO is open source and transparent,
with no board of directors or managers. The community, or each
member of the DAO, reviews, records, and maintains all the tasks,
proposals, and updates using a blockchain. But while DAOs may be
architecturally decentralized (independent parties run different
nodes) and geographically distributed, they might also be logically
centralized (by the protocol rules). What’s more, DAOs and
conventional token-based governance systems typically control
services on blockchains that are basically ledgers. They cannot
extend to dapps that are built to run entirely on-chain and serve
web content to users. Tokenized governance for consumer-facing
dapps Advances in decentralized governance can give any developer
in the world a means of bootstrapping and launching an open,
web-based dapp that puts the control in the hands of community
stakeholders. At the same time, anyone who is excited about
supporting a given project is free to participate; doing so is
permissionless. This principle is central to the Internet Computer,
launched by the DFINITY Foundation — a public blockchain that
promises a safe and unlimited environment for smart contracts to
run on-chain dapps over the web. The Internet Computer enables
developers to build virtually anything online while reducing
computing and transaction costs. A key feature is the open
governance system that controls the Internet Computer — the Network
Nervous System (NNS). By staking the blockchain’s native utility
token, ICP, into “neurons,” anyone can participate in governance by
voting and proposing changes. The NNS’s accessible model of
tokenized governance will soon extend to dapps on the Internet
Computer: the ICP community is actively discussing the development
of a dapp-based open governance system — the Service Nervous System
(SNS). It will allow developers to easily tokenize their dapps and
give the community control over how it operates. Proceeds would be
held directly by the SNS, with no centralized recipient capable of
stealing them. The messaging dapp OpenChat, the social aggregator
DSCVR, and the professional social network Distrikt are examples of
projects that will adopt community control. Anyone could choose to
decentralize the governance of their dapp by tokenizing it, giving
developers who build entirely on-chain a means of building engaged
user communities while providing liquidity and resources to the
dapp. Key advantages Open tokenized governance presents many
opportunities to developers, users, and investors. Establishing an
open tokenized dapp can assist developers and entrepreneurs with
user communication, regular feature updates, and necessary funding.
For early adopters, it can be considered a long-term investment and
source of regular rewards, and for the community in general, it
creates a level playing field where anyone can freely participate
in the decision-making process. Decentralized governance is the
future of blockchain-based organizations. It can make them more
secure and give their members a voice. Open tokenized dapps will
evolve under the direction of their community, with decisions open
for review by anyone, incentivizing the stakeholders involved to
help them succeed. Image: Pixabay
Maker (COIN:MKRUSD)
Historical Stock Chart
Von Feb 2024 bis Mär 2024
Maker (COIN:MKRUSD)
Historical Stock Chart
Von Mär 2023 bis Mär 2024