How we Yeet 🤝💰

A quick look into how easy we made it to join a Moloch DAO.

The Yeet powers the swarm. Traditional Moloch DAOs required every new member to go through the proposal process. This was good for long-term, permissioned DAOs. This was not good for communities looking to capture bursts of excitement, raise funds quickly, and take action.

That’s why we built the Yeeter.

Overview

The Yeet powers the swarm. Traditional Moloch DAOs required every new member to go through the proposal process. This was good for long-term, permissioned DAOs. This was not good for communities looking to capture bursts of excitement, raise funds quickly, and take action. That’s why we built the Yeeter.

How you 🤘3️⃣3️⃣🌵

Yeeting means joining a Moloch DAO by just sending some xDAI, ETH, Matic (i.e. a native gas token) to a contract address. You automatically get loot shares in exchange. It’s that easy. And to make it even easier, DAOhaus provides a front-end UI, so you can make sure to send the right amount of native tokens, know how many loot shares you’ll get back, and see whether the Yeeter is full.

Here’s the process again:

* Go to the DAOhaus page for the [Yeeter](https://yeet.daohaus.club/).
* Send as much native token (ETH, xDAI, etc) to the Yeeter contract as you want loot shares.
* Get loot shares in the DAO.

The ratio of how many loot shares you receive per ETH or xDAI is set in the Yeeter contract. There’s also a limit on the number of loot shares any one address can get and on the total number of loot shares to be issued by the Yeeter. Finally, it’s worth mentioning the DAOhaus community takes a small percentage of the Yeet in the form of loot shares, but we plan to give half of this fee back to the diamond hand yeeters.

Why yeet?

DAOs are getting more popular and emergent communities on the internet want to move fast together — ex. buying the Constitution, funding an exclusive event, supporting a new dApp. Where Yeeters differ from frameworks like JuiceBox or the good ole send money to my GnosisSafe, is in protecting the loot holder’s ability to rage quit at any time. Don’t like the direction of the community? You can rage quit. Didn’t raise enough for the goal? You can rage quit.

Rage quit means real decentralization and real power for the loot holders. Since there might be a small group of folks with voting power in the DAO, it’s even more important for the loot holders, the yeeters, to vote with their feet. Whenever you rage quit you get back your pro-rata portion of the treasury. That might be your yeet funds or it could be a mix of yeet funds and project tokens if you leave mid-way through a Yeeter DAO’s life.

The biggest thing is YOU’RE IN CONTROL OF YOUR YEET. It’s a DAO from DAY 1 — no need for “progressive decentralization.”

Who should yeet?

A Yeeter is kind of like Kickstarter meets DAO. It’s a way that creators or community builders can quickly engage others that support their mission, but do so in a decentralized way.

A couple of use cases we’ve thought of (or seen being built):
* Decentralized beer club that needs funds for its first major brew — will yeet for beer.
* The next time a copy of the Constitution comes up for sale.
* Building an open-source dapp that’s looking for some startup funds and a bunch of interested users.
* Rapidly come together to get that under-priced Punk.
* Want to throw an amazing event for your community.

The possibilities are pretty endless. It’s all about catching the energy of the swarm and the birth of new communities. If you’re interested in setting up a Yeeter for your project, reach out to the DAOhaus team in our Discord: https://discord.gg/daohaus.

Quick Look Under the Hood 👀

If you’re interested in technical details, continue. If you just wanted an overview of Yeeters, you can stop reading and start yeeting.

The way we make Yeeting possible using Molochv2 DAOs is by borrowing a concept from the WIP Baal contract (or Moloch v3). This concept is called Shamans, which are special contracts that are given the power to directly commune with the Moloch DAO’s membership functions. Shamans are powerful contracts, so need to be used wisely and have their own constraints.

The shaman in a Yeeter DAO is the Yeeter contract. The Yeeter contract has a function that takes a raw gas token like ETH or xDAI, wraps it into an ERC20, and then tells the DAO to issue you a number of loot based on the ratio of token:loot set in the Yeeter contract. The Moloch DAO contract is what we’re calling Moloch 2.5, since it includes a place to add a Shaman and some functions that allow the Shaman to mint or burn loot shares. Beyond those special functions, the Moloch 2.5 DAO is exactly the same as any other Moloch DAO, which makes it currently interopable with Moloch DAO UI’s like DAOhaus. In fact, I hear they even have a special interface to making the yeeting part extra easy.

As we get closer to @ethereumdenver, we’ve more interesting Yeeter projects lined up looking for your funding — Keep a look out for new updates! 🤑

Meanwhile, do you want to kickstart your project with the DAOhaus Yeeter? Say gm in our Discord & tell us more about your projects! https://discord.gg/daohaus