The off-chain and on-chain coordination of a DAO
“There’s no general partner, there’s no manager, there’s no board. There’s nobody that’s really fully responsible for it, individually. Instead, it’s kind of a collective effort. ”
On a recent episode of Modern Finance, Kevin Rose hosted with Flamingo DAO coordinators Priyanka Desai and Aaron Wright.
DAOs are a new area within the world of blockchain where I’m just now paying attention. I was particularly interested to learn in how a DAO is managed.
The whole episode as always is worth a listen, but from 31 minutes to 33 minutes the two guest give some great insight into the innerworkings of Flamingo DAO.
“…folks can contribute and they get their operating documents and you know, they're on boarded right away.
“They're in you know, join this Discord which is very active but also on both, actually all the DAOs really. So, you kind of walk into the belly of the beast where there's channels for possibly every project one could imagine… and in the NFT or DeFi ecosystem when it comes to both Neptune and the LAOs.
“So, I mean, really the way that most of the conversation and coordination happens is through Discord, I would say. However, we also have weekly calls that you know, we slate an hour for but they tend to always go over. We have two calls for the LAO, one for Flamingo.
“The members come in and talk about, we sometimes it'll just be like, shooting the shot a little bit. But a lot of it is discussing different projects and you know, NFTs, and from there, it's just a good way to coordinate.
“And beyond that there are a lot of calls around with different projects, founders. Others just to help you know, the members learn about different things and make decisions accordingly. So, it's a pretty busy group.”
“…it's this combination of this off-chain coordination, and then on-chain coordination, which I think is pretty fascinating. So, there's nobody that's in charge, right. There's no general partner, there's no manager, there's no board. There's nobody that's really fully responsible for it, individually. Instead, it's kind of a collective effort.
“I think the most interesting part of DAOs, at least in my experience, and going through this a couple times, it's the beginning. It's right when it boots up and you kind of see this group of folks, some of which may know each other, some of which that don't, and they begin to kind of swarm around this concept.”