Ethereum Layer 2 Solutions: An Interview with Meta Gamma Delta DAO Members
The Ethereum blockchain is on the rise, but so are its gas fees. In the video interview below, you will learn how gas fees impacted one specific Decentralized Autonomous Organization (DAO) and the solution its members decided on.
My colleagues, Kseniya and Nich, are members of the DAO, Meta Gamma Delta (MGD), an inclusive society that raises funds for women-led projects. Since it was summoned (aka created) roughly a year ago, MGD has raised 37,000 DAI and expanded past 50 members. I have been considering pledging myself, so Kseniya invited me to join the bi-weekly meetings and learn more about how their DAO operates.
During my first meeting with the group, I quickly realized that Ethereum’s rising gas fees negatively impacted critical activities like member proposals, grant rounds, and voting participation. Nich proposed migrating to an Ethereum Layer 2 scaling solution, and the members voted in favor of transitioning to Polygon.
Since Kseniya is involved in the treasury and grants committees, and Nich was instrumental in the Layer 2 migration, I interviewed them about the transition and how it supports the DAO’s mission. You can check out the video interview here.
If you aren’t familiar with DAOs, they are online communities that use Web3 software to raise and coordinate funds for a common goal. DAO software facilitates group decision-making without a central authority by allowing collective ownership and programming the operating rules into a smart contract on a public blockchain, like Ethereum.
MGD is a Moloch DAO summoned on Daohaus, a no-code interface for creating and interacting with DAOs. For example, the MGD members can submit proposals, vote on proposals, and manage their funds on Daohaus, with rules like the proposal deposit, processing reward, and voting period built-in.
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