A Community-Driven Design & Invention Agency on the Blockchain
From a two pixel generative art project to an owner-controlled product accelerator
Where we’re going, we won’t need roads…but we will need gas.
The Two Bit Bears adventure has been an immersive experience from the start—from taking part in the evolutionary breeding process, to learning about John Bear and Honey Computing, to solving puzzles and finding hidden Bears along the way.
And while this evolutionary adventure will always be the heart and soul of the project, we announced last week that we will be further expanding the Bear’s utility—making things even more interesting by creating an extended Universe built by the community, which we are calling The Goldilocks DAO.
What is The Goldilocks DAO, you might ask? We’re going to share the details here (which were initially presented in our latest Livestream Event and Twitter Spaces.)
What is a DAO?
A DAO, or Decentralized Autonomous Organization, is an organization in which decisions are controlled by its members, and rules and transactions are embedded on the Blockchain through a governance system. Designed to be automated and decentralized, the governance of DAOs is based on the community.
To be fully functional, a DAO needs a set of rules, a funding for members, and voting rights for establishing the operational rules.
DAO the Ride
The Goldilocks DAO embraces these core tenets, but will be doing things a little differently than one might see in a traditional DAO. Think of it like DAO the Ride—an experiment on the Blockchain with the aim of creating an organization that our community will be an integral part of.
The Goldilocks DAO will be project based. You can imagine it as a sort of agency, but of the DeFi variety. Members decide what projects they want to work on together, as a community—and together, we make these projects come to life.
The Two Bit Bears project founders have a wealth of experience in design, technology, and creative strategy, and believe that their skillsets can facilitate and support a foundation that can bring community ideas, inspirations, and dreams to life.
We are looking for the Goldilocks Zone here — creating a system where the conditions are just right. The structure of the Goldilocks DAO is based on the foundational aspects of the Two Bit Bears project, with the three generations of bears each representing a leg of the Goldilocks stool. To put it simply:
- Generation 1 = Voting Rights
- Generation 2 = Rewards
- Generation 3 = Board Seat
So with this basic foundation in place, let’s walk through the details.
Bearing the Details
Generation 1: Voting Rights (Holder Decided Projects)
Gen 1 Bears have always been the groundwork for the whole of the Two Bit Bears project. These two pixels were how the project began, they will always be the core of the project’s branding, and they represent the very first phase of evolution, of which all the rest is built upon.
Because of this, Gen 1 will also act as the foundational layer of the Goldilocks DAO. Gen 1 holds the voting power. They decide which projects the community builds. They hold the key to which direction we move in. They are your ticket to the ride.
Gen 1 Bears will also be a determining factor in Gen 2 rewards. But we’ll speak on that more below.
Generation 2: Rewards (Holder Focused Rewards)
Gen 2 Bears represent growth and evolution. In the Goldilocks DAO, they embrace this core tenet of growth through the possibility of a rewards system.
Rewards can be bolstered by the number of Gen 1 Bears a Membear holds. Each project will be unique in its rewards, depending upon the project and the core team, and the number of Bears that have been “activated” (more on activation below.)
Generation 3: Board Seats (Holder Influenced Project Direction)
Gen 3 Bears are the culmination of an on-chain evolutionary process as it currently stands (until Gen 4 comes along.) It takes commitment to journey through this bearventure, and because of that, Gen 3 Bears will also hold a certain weight in the Goldilocks DAO, which each Gen 3 Bear representing a seat at the Board.
The Board is the gatekeeper for proposals (more on this below,) and once a project is chosen from Gen 1 votes, will be an integral part of work and decisions within a project. Should a Membear choose to, they can be a part of Board meetings, vote on project direction, consult, and shape project direction as a whole. The Board decides and builds.
Holders must have at least one Bear of every generation to participate in the Goldilocks DAO.
How it Works
So, how will this look?
During an allotted period of time, Membears will have the opportunity to submit proposals for projects that the Goldilocks DAO works on together. The Two Bit Bears team will create a template for these proposals, which will include necessary information such as project vision and scope and core team.
The Board will work with Membears to fine-tune these proposals, will review all submissions to ensure they include the necessary information, and will decide which proposals are appropriate to move to pitch week.
Proposals that are cleared by the Board will then participate in pitch week. During pitch week, proposals are presented live to all Gen 1 holders. At the end of pitch week, Gen 1 votes on the project they want to move forward with.
For this chosen project, the team is clear on core team and all other details that are needed to move forward.
The proposals that are not chosen can be presented again at a future pitch week.
Once we have a winning project, the Board builds out the project brief, and gets to work. Foundational aspects were already defined in the proposal stage before Gen 1 voting, but now the community works together to solidify timelines, launch plans, roles and responsibilities, artistic direction, technical details, and bring it all to life.
Ideation sessions take place. Art is created. Code is written. Community Membears may want to step up if they have specific skills that would benefit the project. Writers, artists, marketing wizards…we all have skills we can embrace. And we are all in this together.
The Snapshots, Verification, and Activation
There will be snapshots and verification measures in place to determine holdings of every Generation for voting, rewards, and board seats. Here are some of the details:
- After initial snapshot, everyone who casts a Gen 1 project vote “activates” their participation in that particular project.
- Only those who are activated can take part in rewards for that project.
- Participants will collect rewards for the Bears they hold for the entirety of the project
- A participant’s weight in Board voting is determined by how many Bears they hold for each voting period.
- If a participant purchases more Bears while a project is in flight, these Bears will not be counted toward governance or rewards, but can be activated for a future project.
We have always envisioned Two Bit Bears as a Universe housed within in two pixels. One in which the possibility of growth exists in a myriad of ways: from an evolutionary standpoint, from a community standpoint, and from a brand standpoint.
The Goldilocks DAO embraces all three of these core tenets, and creates the possibility of building something truly unique. This community is one unlike any other. We can only imagine the incredible things we can build together.