Centrifuge’s Dev Fund DAO — The Lab

Philip Stehlik
Nov 1, 2019 · 3 min read
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At Centrifuge, we believe that decentralization is not only a technology-play but also has to happen on the organizational, financial, and funding layers of the systems we are building. While we started our project in a centralized way, we always planned to decentralize our efforts over time.

As part of the path towards decentralization and governance by the community, we recently launched the first incarnation of the Centrifuge Development Fund DAO. We call it the “Lab”. The Lab is a fund, governed by a number of individuals and organizations, to further the utility, usability, and usage of Centrifuge OS, the network, and its ecosystem.

In short, the Lab is a DAO that manages funds of the Centrifuge Development Fund.

Incarnations: Assemble, Dismantle, Repeat

As we don’t know how the network and its usage will evolve over time, we decided to assemble the Lab as an ephemeral entity.

The Lab is in itself a living organism that has a defined lifespan in each of its incarnations. When starting a new incarnation, an expected time to dismantle is set.

We started with “Incarnation 0” (IC-0) initially and, true to the iterative approach, dismantled IC-0 already in favor of IC-01 due to a bug in IC-0’s setup. Dismantling IC-0 was done by having the members vote to move all the funds out of the DAO and in turn funding IC-01.

The dismantling approach of IC-01 is not formalized but rather open-ended. As the main purpose of the DAO is to fund development efforts close to the Centrifuge network, dismantling will likely mean again moving existing funds into a new DAO. Each incarnation is expected to be an experiment to support the Centrifuge network in the best way possible. The actual implementation of that support might change over time. You can read more details on the setup here.

IC-01 of the Centrifuge Dev Fund DAO is expected to live for roughly three months; from October 2019 until the end of January 2020.

How is it Funded?

IC-01 is funded with twenty thousand DAI by Centrifuge Inc as a first experiment and is planning to extend funding of the DAO in the future as we iterate. Alternative funding mechanisms for the Lab are open for discussion.

How to Apply For Grants?

To apply for a grant, work on a bounty, or otherwise, contribute to Centrifuge and get funded by the Lab, you can either work on one of our already funded Gitcoin bounties, submit a response to one of our outstanding requests for proposals, or browse our Github issues to find items to work on. The process is documented here in detail.

Who Participates?

The participants of the DAO are the Centrifuge dev and product core teams as well as selected contributors and partners. Currently, we have 16 holders of the DAO’s voting token. We are excited to see how the different contributors actively participate in the DAO over the coming months.

If you’d like to join the DAO and believe you have a valuable contribution to the DAO, reach out to us.

Where to go From Here?

The Lab was assembled in its first incarnation to learn how to best steward the development of Centrifuge as a network and a platform. As we go into 2020, we will disassemble IC-01 and prepare IC-1. The funding mechanisms will likely change as we are nearing the launch of the mainnet deployment of Centrifuge Chain, new types of contributors and network participants will join. The scaling up of Tinlake will bring funders and asset providers who are invested in the success of Centrifuge. Centrifuge Chain will bring network validators and stakers who will want to influence the development efforts.

We are excited to have all the possibilities open and work together with the community to further the utility, usability, and usage of Centrifuge OS, the network, and its ecosystem.

IC-01 is live on Aragon mainnet.

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About Centrifuge

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If you would like to join our incredible team, check out our open positions here.

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