Orochi is a distributed group of teams in the Ethereum crypto space that joined forces using on-chain collaboration and governance tools. Their initial purpose was a singular experiment, help fund and sponsor an event during devcon 4 in Osaka. That event, Year of the DAOs, was a huge success and now Orochi looks to sink it’s fangs into other events and local meetups to continue experimenting with DAO style organization.
The first of these events was a small Denver, CO meetup called Decentralized Autonomous Organizations w/ Leaders in the Space link. The meet up coincided with an unconference of The MetaCartel, a working group focused on the application layer of Ethereum. Again, the event was awesome with a great panel of some of the leading thinkers in the DAO space. I’ll link to the full video at the end of this article.
I helped host the event and made the proposal to Orochi to add funds to sponsor it. So how does this all work? Maybe you are part of a local ethereum/blockchain group in your hometown and would like Orochi to help sponsor a special event as well. I’ll map out the steps below. These are not formal steps, just the way I went about it.
First, more on Orochi
Orochi is a type of Moloch DAO, the Moloch has very simple mechanics and is sometimes, because of this, referenced as more of a mulitsig than a full DAO. But those simple mechanics is why it works so well, every interaction between humans do not need to be on chain, but some things, like transactions where value is transferred, being on chain makes a lot of sense. So, in this Moloch format, every member has been voted in, and in the case of Orochi every member is a Sponsor and has added funds to the bank. With each new member/sponsor the bank grows and Orochi can use those funds, through on-chain voting, to fund and sponsor events. Members/sponsers receive coverage for their teams and projects by signaling their support for events.
Soft consensus and member champion
First thing to do is find a member to champion your proposal for funding. You can find a full list of Orochi sponsors here. Just reach out to one and and inform them of your event and the details.
One place that would get the most eyes on it is the MetaCartel forum. Here you find your champion and bring the proposal in front of the entire DAO in one post. If you can get soft approval up front there is a much better chance that it will pass once the proposal is to be officially voted on.
Champion creates an official proposal
After soft consensus from the DAO the official proposal will be submitted to a vote for the DAO. A current member, most likely your champion, will submit the proposal. Your ethereum address will be set as the applicant in the proposal form. After a few days voting period, if the proposal passes, shares in the DAO will be transferred to your address, at which point you can withdraw the funds, in DAI.
The withdrawal process is called ‘Ragequit’, and is a Moloch mechanic that is used for members to show dissent against a current proposal. But in our case, we are receiving a grant so ragequit is totally normal and expected.
And that’s it, you can now go buy pizza, and beer or kombucha or whatever it is that you wanted to have at your event. Just give a shout out to the Orochi DAO during the event, and for extra love to Orochi, write an article, like this one, describing your experience with Oriochi. For even extra bonus love points post the videos and notes of the event online.
See the full video of the Denver event here.