Fair Launch, Transmutation, Proof of Contribution, and $HAUS
Welcome to the $HAUS Party
Welcome to the DAOhaus Castle Wall, where we talk about all the cool stuff we’re building. If you like what you read, please consider subscribing to get these posts early, following us on Twitter, joining us on Discord, or checking out one of our weekly live streams.
Transmutation Station
There’s something fun buried at the center of the HausDAO code. It’s called “transmutation.” We talked about it a bit in our v2 launch post. But, that’s not really enough, because we believe that transmutation is a big deal. It’s not just a big deal because it’s a DAO thing; It’s a big deal as a core dynamic that can shift the way that humans cooperate. We think transmutation gets us a step closer to building a system where contribution is duly and rightly reflected within systems of human collaboration. This, in turn, is a step closer to the newest unicorn on the block, the “fair launch.”
Fair Launches
I’ve already written a bit on the idea of the “fair launch” for LexDAO, so take a look over there if you want to chase the rabbithole deeper on questions like “what is fairness anyway?” For the sake of this post let’s sum it up like this:
The fair launch movement, at its core, rests on the notion that it is a virtue to launch a project in such a way that governance and share of value are (at least eventually) distributed in a fair manner. At DAOhaus we believe the key to a fair launch is to accurately and effectively represent the contributions of not only those who imagine a thing, or put up the money for a thing, but also those who build it, and maintain it, and keep it alive.
Proof of Contribution and the HAUS token.
There are a lot of ways to contribute to a project, but mainly we’re talking about time and money. Financial contributors believe in the project, and they are willing to put up money to support the idea. Believers who want to work on the project are willing to put in their time to make the project happen. Often those people, the builders, get paid for their work, mostly with money and sometimes a bit of stock. And all of this tends to piggyback a mess of contracts and paperwork. DAOs use software to eliminate the paperwork and then try new things. Like Transmutation.
Ultimately, the idea of transmutation is to implement a continuous function within a DAO that provides “proof of contribution.” Our HAUS token is attainable only through transmutation. This means there are only two ways to get it: buy it on the open market (someday, maybe) or contribute to DAOhaus.
How Transmutation Works
Transmutation is the DAOhaus take on concepts dubbed “DAICO” in a post by Vitalik Buterin. Also good reading if you want to follow the rabbit-hole.
To explain how transmutation works it’s probably easiest to start from the example: HausDAO. HausDAO launched when a community of contributors came together around the idea that we could improve the interface for Moloch DAOs. During this phase all funds were sent as tribute into the DAO Bank. So, that is where our budget funds sit. We get them out to pay for work via proposal. Usually these would be “funding” proposals, but in our case they’re “transmutation” proposals.
When a traditional funding proposal passes a DAO vote, funds move from the DAO bank to the receiving address. When a transmutation proposal passes, the funds move to the receiving address and also a quantity of HAUS token is sent back to the DAO bank as well.
Because we are a Moloch DAO, all shareholders can rage quit at any time. Because we are hard at work, and have spent funds, anyone who rage quits HausDAO will walk away with their proportional share of what remains of the bank… which already includes the HAUS token added to represent their contribution.
$HAUS Token
So, the HAUS tokens are the proof of contribution. If you put in money and we spent some of it to build DAOhaus, you materially contributed to the project and you get HAUS for it. If you’re contributing time and effort as a shareholding member of HausDAO you are being paid out of the fund, but you are always able to tribute back to the DAO for more shares.
In all cases, the only way that HAUS token can be distributed is through transmutation, which doesn’t take place unless there is material contribution.
We don’t know what the future holds for the HAUS token. Maybe it’s just something I carry around in my crypto wallet as a badge of honor for my contribution. Like a challenge coin, or a concert T-Shirt. Maybe it becomes an integral part of an ecosystem of interconnected Moloch DAOS using and contributing to DAOhaus. (We think that one would be cooler.)
But, the point right now is to build DAOhaus, because because contribution is the only thing that drives transmutation.
Join Us or Launch Your Own DAO
If you want to contribute, or want some help launching your own DAO (transmutation coming soon) stop by our Discord, or get us on Twitter and we’re happy to help!
Also, subscribe to get all the updatez in you inbox… and a bit early.. ooooo 😎
🏰 DAOhaus:
