I breakdown everything I can about the DAO, from definitions to politics, including some interesting critiques that I hope can settle any confusion listeners have. I’m not an expert so please tell me where I got it wrong, or where I got it right.
Definitions I talk about:
- Tokens/Token Holders – create tokens by staking ether in the smart contract, each token has proportional voting rights, and ownership/equity rights.
- Curators – person or group of people that perform centralized roles for the DAO, they maintain the whitelist of contractors, vet proposals, and identifies proposal authors.
- Contractors – a third party that can receive ether from the DAO and/or is funded by or owes money to the DAO.
- Proposal – A smart contract that is voted on. Two types: “regular proposal” and “newCurator” proposal.
- Quorum – Voter participation rate needed to make a vote binding. 20% for a “regular proposal”, none for a “newCurator” proposal.
- Split – If people don’t like a proposal they can split from the DAO by forming a new DAO. Meant to be a way to update the curator and to protect the minority from a majority attack.
Book of Qi – 36 Stratagems – “Kill with a borrowed sword”
Music: Choys – 3rd Floor