Back to the roots, back to the DAO
Remember some time ago:
Initially, BaseX was Island DAO, originating from Estonia DAO.
There were a number of reasons behind that shift. Now it is changing again, back to the DAO, back to the roots. Again, a number of reasons:
- Lessons about the community ($SUSHI, @NomiChef)
- Mars no longer full time
- New tools becoming available, such as snapshot.page
- Figuring a workaround to address some issues with the DAO
Back in a day, the “rage quit” was a concern. We can simply move the money to the multisig ahead of the time to ensure the 3D world legal requirements of finalizing transactions in time are met.
(if the property goes on auction, there are 24 hours to send the money, it is not compatible with “rage quit” — us making a bid and someone pulling off)
We will become DAO as soon as practically possible
Some questions remain:
- Who should be initial members?
- Which framework? Aragon?
- Which template? Dandelion?
- Loot tokens, voting tokens, reputation tokens?
- Gas fees, xDai, WETH via token bridge?
What about people who cannot afford the $10k ticket?
I’m a white guy, higher education, higher income, major city, I have high employment ability and I’ve been in crypto long enough (survived crypto winter).
I was able to scrape $10k. I was able to receive one $10k investment but it wasn’t easy. The difficulty: you deal with a couple of months worth of savings and emotional human beings.
(asking for $10m is probably easier, at this level you deal with professional who manage money that does not belong to them)
If you cannot afford $10k then probably focus on your money-making ability first — how to increase your income in a healthy, sustainable, ethical way.
Housekeeping
I will keep the BaseX company open — simply because already paid various fees and have bank account open — may come in handy at some point.
Salary
I will pay myself $150 per day for the work I did.
I’ve rejected 4 jobs during the time I was focusing 100% on the island.
When you align flow, purpose, passion, work does not feel like work.
I was flowing
It is the right combination of CHALLENGE vs POSSIBLE.
It is not easy to raise $1m when the entire world in damage control way.
Learned a lot of things
(subject to yet another “separate blog post”, I’m trying to keep these within manageable length)
I was too busy for any “yield farming”. I missed all the hype, but missing all the hype allowed me to hold on to 10x gains and then sell 50% from the top. The greed took over, I should have taken profits much earlier.
Legalities
Hack the planet. New world order. Will do some shenanigans.
Will decide which law we want to follow and /or create a new law.
Treasury state
ICO IBCO
Will bake in some interesting incentives.
Some combination of ICO with the automated transfer of ETH into a bonding curve to provide liquidity.
Some resources about the Balancer Pool, need to dig deeper:
- https://medium.com/balancer-protocol/building-liquidity-into-token-distribution-a49d4286e0d4
- https://medium.com/@perpetualprotocol/perp-token-distribution-2f1b6196744d
- https://github.com/balancer-labs/configurable-rights-pool
Recent updates
Been to Estonia, been to the island
Some super-duper hyper-cyber interesting conversations
Video production progressing
This is a DRAFT. WORK IN PROGRESS. Didn’t pay the invoice in full. Still some feedback pending (and a watermark on the video).
That will be the “above the fold” video, the first thing that you see when visiting the page.
Pretty nice huh?
As always keep in touch:
- Discord: basexisland.com/discord
- Book 1:1 session: calendly.com/marsxr/basex
- Follow us on Twitter: @basexisland
