DAOhaus CCO recap 🏰🎉

Whoa! 🎉

The DAOhaus CCO kicked off Monday. We set up our contracts to run for 4 days. It turned out we only needed 80 seconds to hit our cap. We weren’t expecting to start writing a post about how it went until next week. But here we are!

The first and most important thing to say is “THANK YOU!!!” to the members of our community who showed up in numbers. By your contributions you’ve enabled us to build the second story of the Haus and in doing this you’ve joined our team as contributors who will help guide the future of the platform. That means HAUS holders will also help guide the future of DAOs.

We want to give everyone the play by play of what happened Monday, where we are now, and where we’re going. First things first, if you haven’t already, check out the CCO Launch Post here.

The Plan 📆

We knew we had a committed core of DAO enthusiasts and awesome followers. We simply had no idea how many of you were waiting in the wings for the details on $HAUS which dropped on Friday!

Our target was always for the CCO to raise a reasonable amount for the growth of the platform, and for what we believe is a responsible road forward to growth the HAUS.

This is why set out the rules ahead of time. We stand by the decisions we made in planning, which is why we did not raise the cap, or let in any other contributors after the cap was reached.

For those that did not make it in, we are sorry, and grateful for your interest. Stick around, there will still be many ways to get involved and to contribute to building the Haus. As outlined in the launch post, we will still be airdropping a substantial amount of Haus directly to DAOs which have been active within the Moloch DAO ecosystem!

The CCO 🚀

On Monday at 8am Eastern the CCO opened, and by 08:01:20 we had reached our hard cap of 1.1 million WXDAI. The contracts shut down before the interface could even update to reflect more than 300,000 WXDAI contributed.

We were unsure if this was a coordinated plan, something broken, or just an insane amount of interest — so we put the CCO page in maintenance mode. We carefully ran through all of the transactions, turned off the bot which checked proposals against the whitelist then automatically sponsored and processed them as accepted. At the time we sent this tweet:

But luckily we were wrong. There were no bots, and no rule breakers, simply massive interest: thousands of excited contributors waiting to click the button to grab what turned out to be 263 spots.

Over the course of the next few hours we manually checked all of the proposals to verify that they complied with the rules of the CCO, and were, as far as we could tell not the product of any nefarious attack. After running these checks we turned the bot back on, and began sponsoring and processing contributions.

Those that got in also threw down hard. The average contribution was ~4242 WXDAI with ~67% of contributions for the max amount (5000 wxdai). At the same time, by leveraging xDAI (and reducing fees by 100x) it meant smaller contributors could also get involved, with multiple contributions as low as 50 WXDAI and ~10% of contributions under 1000 XDAI!

In the end, we hit our cap, funded the second story and decentralized our contributor base from 62 contributors to ~325 contributors! A win for decentralisation and DAOs everywhere!

CCO Comments & Improvements 💬

Now for what we could have done better as a community:

Daylight Savings Time

Like most people, we totally forget that daylight savings time was happening until the Sunday before when someone reminds us to “set our clocks.” Well, that’s what happened here. The CCO launched right beside daylight savings leading to a one hour confusion for many participants, something that matters a lot when the CCO finishes in only 80 seconds. We’re sorry for any confusion this caused. 🤦‍♂️

Client-side Clock/Early Transactions

When we coded the CCO page we built it use the the local clock for the CCO UI start time. As it turned out this opened up a possible exploit, used by setting one’s local clock ahead. This resulted in 2 transactions getting in early by less than 25 seconds. Because it was only 2 transactions, and only early by seconds we decided to let them in. After careful consideration we have no reason to believe that these transactions were nefarious actors or a coordinated attack.

The Last Block In

If you’ve looked at the CCO page lately you might notice that we’re actually a little over the hard cap. This happened because the proposal number 263 came in with ~350 WXDAI left under the cap, but their proposal was for the full 5000. Meaning we ended up ~4650 WXDAI over the 1.11m WXDAI hard cap.

Were We Too open?

In the end, a number of community members, some long-time followers and supporters were unable to take part in this CCO because of the sheer speed of the CCO. This has brought up the above question, “were we too open?” with ~122k addresses able to participate, perhaps the Proof of DAO eligibility should have been more stringent. However even implementing this kind of a whitelist is a new way to structure token launches, ensuring contributors meet some level of previous decentralised governance experience.

Have an idea? Join us, and work with different DAOhaus Circles to make it a reality!

Now What? ⏭

Claiming your tokens

On the 29th of March, $HAUS tokens will be available to claim from the CCO page! The process is simple. You’ll just hit the ‘Claim’ button, execute the transaction and you’ll receive your tokens on the xDAI network! Check out the CCO Launch post to find out how to use your tokens inside of the DAOhaus ecosystem on day one.

$HAUS Drop to DAOs

In addition to the CCO, we’re distributing $HAUS tokens to the communities that have helped us grow, using our technology and providing us with endless invaluable feedback which has allowed the platform to be what it is today! This airdrop will occur by all eligible Moloch DAOs being given shares in UberHaus which corresponds to a given amount of HAUS held inside the DAO.

Moloch DAOs will be added to UberHaus as long as they meet a minimum threshold of 3 members, then the amount of governance (and therefore HAUS) that each DAO receives is based on the following methodology;

• Gas spent (this signals the overall usage of the DAO)
• Unique members (how many people are in the DAO)
• Value in (how much value has entered the DAO)
• Value through (how much value has passed through the DAO)

If you’re a member of a Moloch DAO, stay tuned and make sure your DAO knows about it’s coming airdrop!

FarmHAUS

Our three HAUS farms will go live at the same time as the HAUS distribution, if you want to participate in UberHAUS governance or HAUS liquidity and earn rewards while you do, check the farms out here! (Link TBA with launch)

UberHAUS Coordination

Once the HAUS token is live, governance over what happens next is up to all of us! UberHAUS is the governing body of the DAOhaus platform and community treasury, it’s governed by the very DAOs that make up our community! Whether it’s a grants program, more distributions to the community, new features or anything else you can think of. UberHAUS will be making decisions on how best to keep moving so check it out, jump into the Discord, join a DAO, and make your voice heard!

Closing Comments

We’ve all been blown away by the support shown by the community throughout both the CCO and the months of work which led up to it! On a similar vein, we believe that DAOs are only just starting to find their feet in the world, and there’s plenty more to build, break, and improve before we can sit back on our laurels and celebrate a job well done.

In the words of our MetaCatel forefathers;

‘If you want to go fast, go alone. If you want to go far, go together.’

See you next week!