On-Chain Governance BenefitsOn-Chain Governance Benefits and How to Use JokeDAO to Start a DAO.
February 22, 2023
Decentralized Autonomous Organizations (DAOs) are becoming increasingly popular as a new way to organize online communities, projects, and businesses. DAOs operate based on blockchain technology and enable members to vote and make decisions regarding the future direction of the organization. On-chain governance is the process of using smart contracts to manage the decision-making process in a DAO.
On-chain governance brings several benefits, including:
Permissionless Analysis of Data: Members can analyze data stored on the blockchain without seeking permission from any central authority.
Rewards: On-chain governance enables automatic transactions, such as rewarding members who contribute to the organization.
Contribution Mapping: Members can map their contributions to wallets on the blockchain, making it easy to track who is contributing the most to the organization.
Determining Voting Power: On-chain governance can determine voting power based on members' on-chain activity, ensuring that the most active members have a say in the organization's decisions.
JokeDAO is a popular platform for creating DAOs. Here are some ways to use JokeDAO to start a DAO:
Content Creation: Content creators can share a voting token with fans and hold contests on their content. Fans can vote on which articles to write, which guests to feature on their podcasts, and what videos to make.
Grants: Anyone can submit proposals, and the community can vote on their favorites. Instead of approving grants yes or no, the organization can allocate funds to the proposals that the community cares about most.
Editing Proposals: JokeDAO can be used to hold "drafts contests" for different versions of proposals. Members can vote on which proposal goes to the next round.
Curation: JokeDAO can be used to hold contests for music, films, logos, or designs. Members can vote on their favorites, and the winning entry can be minted as an NFT.
Games: JokeDAO is designed as a game with two variables: the number of points you have (your votes) and the time remaining to submit and vote. Members can compete in teams to vote on options for rewards.
In conclusion, JokeDAO provides a flexible and user-friendly platform for starting and managing a DAO. On-chain governance brings several benefits, including permissionless data analysis, rewards, and contribution mapping, making it easier for members to make informed decisions. Whether you're a content creator, a grant-maker, or a curator, JokeDAO can help you build and manage your decentralized organization.
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