Forking Moloch DAO 👹🍴🤩
MetaCartel’s new initiative to grow Ethereum’s dapp ecosystem
Web 3.0 and DAOs will completely revolutionize human coordination and our concept of the ‘firm’.
The ‘DAO’ was one of the first of the experiments of its kind — raising and coordinating over $120M USD from the Ethereum community and even held up to $250M USD til it was hacked. A great deal of trauma has resulted from that tragic event. However, three years onwards, we are in a totally new headspace with a revived sense of community & more to sacrifice and pledge.
This fire was first re-ignited with Moloch DAO 👹, that launched earlier this year in February. And now we will see another DAO follow in its footsteps.
We will see MetaCartel DAO rise 🤩
The MetaCartel first began as a technical working group, formed after ETHBerlin 2018. While initially focused on meta transactions, the topics discussed and collaborated within the group soon spread to…
- Web 2.0 onboarding and user patterns
- Counterfactual deployment of contracts and payment channels
- + many more user experience technologies
In late 2018, we began to realize the inflection point we were approaching.
We asked ourselves some hard questions around the future success of Ethereum and came to the conclusion that one last challenge stood in Ethereum’s way— dapps.
We realized that this was the hill that we would either succeed or die on.
And thus, we began to work on bridging this for the community. We lead out efforts with the hypothesis around how coordination and collaboration will be the key to success.
“If you want to go quick, go alone— however if you want to go far, go together.”
Web 2.0 data monopolies were enabled through centralized data systems and have since kept a lead through the sheer level of data available to their teams. In the recent decade, user data and product insight-driven product management have ruled king. Companies such as Facebook, Zynga, and Amazon have become the best in the world in leveraging data to build the right products.
MetaCartel’s hypothesis is that the Ethereum community will be able to accelerate its process of value discovery on the application layer by coordinating an ecosystem-wide collaboration behind:
Product insights, user data analytics, and shared user growth.
Technological barriers will no longer be the bottleneck. It will be with data.
Product success and innovation rely purely on one thing — the rate of learning from building and shipping to live end users. We want to bootstrap an environment that could enable data network effects. We want to enable teams across the ecosystem to leverage each other’s shared parallel development cycles of Ship, Learn, Iterate — to build not only better products but the right products.
And during the process of which, I (pet3rpan), set out to join Moloch and subsequently became Moloch DAO history’s first ever rejected proposal, the plans of a DAO began to crystallize and form.
Inspired by the alignment mechanism of Moloch — we saw the DAO we wanted to build before us.
👹 +🍴+ 👨🏽💻= 🤩
And thus, we decided to fork Moloch and build our own DAO…
MetaCartel will be launching a grant based DAO that will fund application layer products to coordinate the sharing of product insights and user data.
The re-purposed DAO fork will aim to provide grant funding to dapps based on the metric of their end-user success metrics such as revenue, user retention, and product growth. However, the catch is that participating projects must then share their data with the rest of the DAO in return for funding. The funding provides an incentive to share data and also invites them into the DAO collective where they will also benefit from the shared advantages of cross-ecosystem insights & data.
- The DAO will only funnel funding towards projects that are reaching agreed upon metric based milestone goals to enforce ongoing growth in value creation and the search of it.
- The more data being provided by the DAO on an ongoing basis, the more valuable membership and access to the DAO will be. The higher the price of entry into the DAO over time.
- The members of the DAO will be curated accordingly to ensure only ethical projects can benefit from such shared coordination.
- The DAO will look to become sustainable by implementing non-rent seeking value capture mechanisms to ensure its future operation. Such as implementing claims tokens into dapps.
We believe we are able to bootstrap a product-oriented data moat for the Ethereum data ecosystem and that dapps that leverage this DAO will be able to significantly accelerate the discovery of product market fit success with their own users. The success of one project enables a wealth of other projects to also gain insight into how it is achieved. A network effect typically reserved for high signal talent and incubation programs such as YC and TechStars.
Except within Ethereum, we only have ourselves to execute on the application layer. No one else outside of crypto cares about us. No one will come running to save us. We only have each other to rely on. Let’s make it happen.
‘“We stand today on the brink of a revolution in cryptography.”
— New directions in cryptography’ (1976) By Martin Hellman & Whitfield Diffie
The MetaCartel DAO will rise and we will see another step towards cryptoanarchy.
