EP01: The DAO beyond the wall

pet3rpan
pet3rpan
Jul 17 · 4 min read

“Everything has beauty, but not everyone sees it.”

— Confucious

And with Moloch DAO, it did not see the beauty in my proposal to join them for 10 ETH. This rejection, however, turned out to be a blessing.

Earlier this year, we saw Moloch DAO rise with the aim of solving the core Ethereum development funding. Inspired and wanting to join in on the adventure, I was stopped at the door to become the first-ever rejected membership proposal of Moloch DAO. However, encouraged by Ameen and also initially as a joke, we decided to forked Moloch DAO for fun.

While starting out as a joke, we eventually began to think deeply about the issues surrounding the ecosystem. And along with the team of James Young, and Alex Hoffmann, we began to cook something up. Coincidentally, with MetaCartel doing a lot of work on the application layer, we realized that all DApps were all working in isolation with little cross-pollination of lessons learned and no shared community to connect with.

Additionally, we realized that we were also at a unique inflection point with DApp infrastructure around usability, data, and scalability beginning to mature. New protocols were live and to be leveraged. We are now able to build very powerful dapps. And that it was time to swing our attention back onto the application layer.

MetaCartel DAO is a not for profit grants DAO that aims to fund and support projects that are looking to advance usability, UX or further experiment with new Web 3.0 use cases.

We built this DAO with the motivation of attracting crypto’s most motivated and devoted dapp developers — and ultimately, backing them to succeed.

From grants funding, recruiting, community development to even memes. MetaCartel wants to put the full weight of the Web 3.0 community behind the creators and makers that are willing to put their own time and skin in the game to drive forward the future of decentralized applications.

We believe in the hacker hobbyist spirit. We believe in those who are working on dapps in their spare time. We believe in the nights and the weekends spent hacking. We believe in those who have skin in the game and are dedicating their entire career towards making DApps happen.

MetaCartel believes. This DAO is just the beginning.

Progress of MetaCartel DAO

We deployed the DAO contract on the 5th of June, with the transaction confirmed exactly at 09:28:47 PM +UTC.

Over the last month, we on-boarded 17 total members with contributions ranging from 10 to 100 ETH. So far, the DAO has in total 750 ETH (170–210K USD ~) with a total of 17 members t 21 individuals representing those members (some DAO memberships are organizations with 2–3 members representing the membership).

  • NuCypher for 100 ETH
  • Matic Network for 100 ETH
  • Individual pledge (person A) 100 ETH
  • Individual pledge (person B) 100 ETH
  • SpankChain for 69 ETH
  • The Graph Protocol for 50 ETH
  • Individual pledge (person C) 50 ETH
  • Individual pledge (person D) 50 ETH
  • Giveth for 10 ETH
  • POA for 10 ETH
  • Odyssy for 10 ETH
  • 7 x Individual 10 ETH pledges

We have had 4 DAO meetings so far with 100 ETH members and 10 ETH members separated to initially coordinate. Will merge these DAO meetings together by end of July.

Transitioning from a centralized grant process to an open forum proposal system taking place on forum.metacartel.org. Membership proposals, as well as funding proposals and ideas, are to be shared there before internal DAO discussion. This not only aiming to improve transparency but to also decentralized and improve the operational efficiency of the DAO.

Next steps

The DAO is in the process of deciding which initial projects it should fund.

Stay tuned.

If you are a DApp developer and want to get involved, come to this thread and share what you are working on! https://forum.metacartel.org/t/share-what-dapp-you-are-working-on-thread

What is the DAO in relation to MetaCartel?

MetaCartel DAO is just another project within MetaCartel’s ecosystem of projects and communities. If you are unsure about what MetaCartel is, check out the article below for more explanation.

MetaCartel

metacartel.org

pet3rpan

Written by

pet3rpan

<MetaCartel>

MetaCartel

metacartel.org

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade