The Web3 in Travel Conference DAO
Let’s build something bigger than ourselves
Last year, we organized the first “Web3 in Travel” conference in Porto.
It was organized by a DAO, Trips Community.
This year we want to decentralize it even more by creating a DAO which represents more of the Web3 travel industry.
In other words: we want this conference to belong to everyone who wants to join, not just Trips Community.
Here’s how we plan to do this:
THE SAFE
We will create a treasury with SAFE:
⬅️ Money will come in from:
- Sponsors
- Ticket Sales
- Contributors
➡️ Money will go out to:
- Expenses (venue, audio video and so on)
- Profit (if we make it)
A Safe is different from a traditional treasury because you don’t need to trust someone to manage it.
Here’s a simple explanation:
Suppose Maria is a traditional treasurer.
She manages all the money in the bank accounts, pays for expenses and so on.
All happens on bank accounts and credit cards, and it’s a black box: you can’t see them.
Maria could misreport, mismanage and even, in extreme cases, run with the money.
This because you don’t see the money, you only see what she shows you.
A Safe instead is:
- Transparent: you see it all, in real time, to the last cent. In fact, everyone can see it.
- Co-managed: to move money, a majority of Safe Owners need to approve the transaction.
Or, in other words:
- Maria can’t hide the money
- Maria can’t move the money
In fact, there is no need for Maria 🤷♀ (sorry Maria) as it’s all co-managed and not one person has more privileges than anyone else.
If this all sounds too socialized, don’t worry, there is the Safe Manager, who coordinates actions, so, someone is on top of it.
But even the Safe Manager has the same privileges as everyone else.
In short: no need to trust anyone, but the group.
This allows for open and trustless coordination to a level unseen before.
Why? Well, because money before crypto was non-programmable.
A Safe makes it possible to spawn “Programmable Communities”.
There you go: the Web3 in Travel 2023 will be managed by a programmable community.
Thanks to this technology, we can now organize at a large scale, in a borderless manner, between perfect strangers.
✨✨JOIN THE DAO ✨✨
Interested in contributing? Fill in this Form
THE SAFE OWNERS
A Safe Owner is someone with a key 🔑 to the Safe.
It’s the private key, the seed words, you manage in a wallet.
A key gives you:
- A way to accept or reject outgoing transactions from the Safe.
- A vote: if you accept a transaction, your vote is YES, if you reject it, it’s NO.
How to get a Key 🔑 and become a Safe Owner?
There are two ways:
- Contribute with funds to the conference.
- Work on the conference.
By providing money and/or work, you become a DAO member and will get a proportional part of the potential profits.
This is executed in an elegant and clean way: your wallet address (or addresses) is added to the Safe Owners.
By being an Owner, you will be asked to sign transactions such as payments or dividends and is doing so, voting on all proposals.
So, the “decision-making” and the “execution” happen at the same time.
For example:
“We want to send $500 from the Safe to Paula who will take care of marketing on Linkedin with the strategy detailed at this URL”
You don’t like that strategy? Reject the transaction.
If enough people agree with you, the money will not be sent.
This decision-making and payment process is fully in the hands of the DAO members, with no special privileges or extra votes for me, or Trips Community.
It’s proportional to the amount of investments and work put into the project.
✨✨JOIN THE DAO ✨✨
Interested in contributing? Fill in this Form
QUADRATIC CONTRIBUTIONS
Can someone try to “buy” the conference by contributing a lot?
Possibly.
To reduce this risk, we apply Quadratic Funding:
- $100 gives you 1 signature (which is 1 vote)
- $500 give you 2 signatures (2 votes)
- $1000 give you 3 signatures (3 votes)
- For every $1000 more, give you 1 signature (1 vote) up to max 5 signature per person/company.
As you can see, $1000 does not give you 10 votes, but just 3.
While 10 people, funding $100 each, get 10 votes in total.
If someone buys 7 votes with $5000, anyone else can buy the same amount of votes with much less ($1500 and up).
This reduces the risk of co-opting by wealthy individuals or companies.
Does it eliminate it completely? No, decentralization is never total.
Anyway, we don’t think there’s a high risk of big players buying the project now.
But we’re thinking in the long term and trying to build a decentralized infrastructure which can organize more conferences in the future, not just this one.
Also, contributing is on request, not permissionless.
See the NFTs on OpenSea.
WORK
Let’s say you want to help with work.
First, only consistent work counts, meaning that you take responsibilities and follow through until the end.
You can also contribute occasionally, but this won’t give you a vote.
There are 3 kinds of contributions and each one gives you a signature (which means 1 vote and part of the profits):
- 1 for helping consistently until the conference (even if you don’t make it to Barcelona)
- 1 for helping consistently during the conference, on site in Barcelona.
- 1 for helping consistently after the conference (mostly on video editing, publishing content and so on)
Note:
- Helping until the conference: we do a weekly meeting on Zoom on Wednesday a 20:30 Barcelona time. To qualify for the signature, a 70% attendance rate is required.
- This is not an investment proposal: even if you contribute with money only, it requires you to become an active signer of the Safe. This is work. You need to learn how to sign, be in the Telegram group and sign when required. It’s not much time, but it’s a responsibility.
- Each key comes with a Little Traveler PFP NFT on Polygon which will be minted and sent after the conference.
✨✨JOIN THE DAO ✨✨
Interested in contributing? Fill in this Form
TICKETS
Each signature equals one ticket, no matter if it comes from investment or work.
THE PROFITS
If all goes well, we will have some money left at the end of this conference.
What remains will be shared amongst the Safe owners, by the Safe Owners.
TAXES
Who pays the taxes on the profits? The DAO does not make money because it distributes the profits.
Contributors make (maybe) money: so if you are an individual or a company who contributed and received some profit, it’s your duty to declare them and pay taxes on it.
FIAT BRIDGE
Most people will pay for the ticket with a card, and all providers want Euros.
For this, we have a company which takes care of the fiat transactions: advances the money, cashes the card tickets, and provides receipts/invoices for the expenses, to the DAO, who will then pay them out.
The company is mine, and I’m happy NOT to take care of this if anyone wants to offer their company instead.
Anyone wants to deal with crypto/fiat tax reporting?
No one? I thought so.
Let’s move on.
(but, seriously, if you want to do it, let me know)
WHEN
The conference is at the World Trade Center in Barcelona on the 15th of May 2023. Check it out here: https://web3intravel.com
WHY
You may wonder what’s wrong with traditional conferences, and here’s the answer: nothing.
You may then wonder why we do this then, and the diplomatic answer could be: because we want to bring transparency and inclusion to conferences.
The real answer is: because we can, we have fun trying new things, and we love learning by doing.
The short answer may be: because we like playing and this looks fun.
✨✨JOIN THE DAO ✨✨
Interested in contributing? Fill in this Form
🕳️ 🐇 Get deeper down the Trips Community rabbit hole
The Conference: Website, Tickets
The Token: Dashboard | Check price on Coingecko
Buy on: Uniswap, Honeyswap
Talk to us on: Discord | Telegram | Twitter | YouTube
Learn: 🎙 Podcast: Web3 in Travel
