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DAO The Way Part 2

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In part 2, I will introduce DAO or Decentralized Autonomous Organization categories. There are so far 6 types of DAO in the DAO Spectrum. 

TL;DR

 6 types of DAO layout in DAO Spectrum. Each has its way to express DAO from corporations alike to complete decentralized autonomous way. Seeking innovation is a key to making such an entity flourish.

Factors

There are 6 factors to make the organization become DAO. Decentralized or quasi-decentralized will affect how such organizations operate. Autonomous or quasi-autonomous will affect how such organizations innovate. And a community or an organism will affect how such organizations evolve.

DAO Spectrum

Being the most non-DAO organization as a corporation to the most DAO organization as Bitcoin, we are going to explore each category and how each DAO operates that varies from others.

Corporation

The idea of the corporation has existed for more than 1,500 years. The core idea is to assemble people together and lead by one, or a few leaders. From corporations to conquer the country to corporations to conquer other countries’ resources, such an idea of organization has been working for many centuries. 

The Roman Republic is one of the successful political corporations. To be successful is to dominate and control the power. The most successful corporation of business is East India Company which controls countries with their own armies and controls trading. 

Nowadays, corporations are firms dominated in their fields. Employees are working for them not because they are working on their goals but to earn a share of profits that are controlled by the firms.

It doesn’t mean corporations are all bad. It is the most effective and proven method for human beings to work together. However, history always showed corporations met their goals, corruption within will bring them down just as quickly as they reached the peak.

Quasi-decentralized Quasi-autonomous Community (QQC)

Corporations will hit a plateau of making profits because their structure has been completely saturated and harder to pass through decisions making effectively due to cultural struggle to change and power struggle on the top executives. Therefore, corporations may want to find new ways to interact with their users. They decided to build a community. This type of community is outside of the corporation and they can be a strong force to support firms’ branding. They will be rewarded for their supportive efforts and possibly receive exclusive benefits from the firms. Examples of such DAO are Nike, Adidas. Although they may not announce they are, they are doing what DAO is trying to do. However, such firms are not willing to dive into DAO.

Quasi-decentralized Quasi-autonomous Organism (QQO)

When firms are centralized and managed through each level, they can still work as a DAO. Since innovation is a key for them to become successful. They can evolve to become DAO later because their core competencies are relying on innovation. 

Such organizations are Apple or similar big tech companies. They are evolving into a DAO eventually.

Quasi-decentralized Autonomous Community (QAC)

When companies want to change their operations into DAO. These types of companies will operate through a DAO process. Although their fundings will operate under corporate control. Syndicate DAO is one of those organizations. They received VCs to their executive teams and their operations will have a DAO process to expand the community through a voting process. However, proposals are drafted by management.

Decentralized Quasi-autonomous Community (DQC)

When funds are openly distributed, this type of DAO has the strength to operate as a DAO. Although they will have permanent positions to run the DAO so that their vision can be consistently carried out. An example of such a DAO is Bankless DAO. They are openly contributing their funds to projects with specific management of guilds to carry out their tasks.

Decentralized Quasi-autonomous Organism (DQO)

When DAO has open funding to allow members to work and improve their services while innovation is a goal to drive their goals and to survive in the industry, Ethereum is one of such DAO. After the DAO failed, Ethereum immediately hard fork and turns the organization around to continue seeking new ways to build up a better system. Layer 2 products continue evolving their specialty to solve certain aspects of the blockchain and improve the system.

Decentralized Autonomous Organism (DAO)

Currently, the most fully DAO organization is still Bitcoin. This does not mean there will not be another fully DAO coming. Bitcoin is solely operating without any financial incentives. It continues evolving and seeking new solutions to its blockchain system and many people are working countless times to find a better solution to improve the network.

Check out my another article DAO The Way Part 1

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In Conclusion

DAO Spectrum is a guide for you to choose from. It does not mean there are only such ways to categorize DAOs. Crypto has been evolving daily. Such ideas may just be outdated and there will be many more opportunities and new ideas flourishing as I write this article.

Stay tuned for this series.

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Argentine Crypto Exchange Lemon Sheds Roughly 100 Jobs, Citing Challenging Industry Conditions

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Argentine Crypto Exchange Lemon Sheds Roughly 100 Jobs, Citing Challenging Industry Conditions



Lemon had planned to deploy almost the entire amount on its expansion in Brazil. Given the current context, its move into the South American country will be “more strategic and niche,” Cavazzoli said. The exchange put plans to expand into Chile, Colombia, Ecuador, Peru and Uruguay by the end of 2022 on the back burner.



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It’s time for crypto fans to stop supporting cults of personality

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It’s time for crypto fans to stop supporting cults of personality


Many of the centralized cryptocurrency platforms that collapsed this year had something in common: a young, outspoken and cocky leader. Each gained outsized influence not by virtue of outsized intellect or talent but because of their piles of money and large Twitter followings. And each time, misplaced trust in their abilities resulted in disastrous consequences. 

If crypto wants to avoid similar catastrophes in the future, it’s time for us to rearrange our leadership priorities. We need to ditch the cults of personality.

The theater of crypto on Twitter

Before FTX collapsed, founder Sam Bankman-Fried (SBF) had garnered a reputation as one of the loudest voices in the industry. He was active in the political world and frequently commented on what was happening in Web3.

Related: Disaster looms for Digital Currency Group thanks to regulators and whales

But perhaps most notable was his active involvement in a myriad of Twitter feuds and spectacles. SBF first stepped into the spotlight as the successor of SushiSwap after Chef Nomi abruptly abandoned the project — a drama that played out almost entirely on Twitter’s public stage. His ensuing Twitter antics, combined with the image of unstoppable success that FTX was broadcasting far and wide, gained him more than a million followers.

But even as SBF’s influence grew, it seemed he just couldn’t resist shitposting, regularly engaging with other Twitter users who threw stones.

Indeed, SBF’s penchant for Twitter drama played an important role in exposing FTX’s insolvency. It was his recent spat with CZ that ultimately led to the run on FTX’s deposits. His attention-grabbing antics carried on through the current ordeal, culminating in a bizarre series of cryptic tweets.

The loudest voices in the room

While SBF is the latest example of an industry figure whose highly public Twitter presence led to a highly public downfall, he certainly isn’t the first. Do Kwon and Su Zu, who were both at the center of monumental collapses earlier this year, were also notorious trolls. Do Kwon infamously sent an arrogant series of tweets just before Terra’s downfall, while Su Zhu’s infamously elusive comments during the 2021 bull run didn’t age well, either.

But, the leaders of failed platforms aren’t the only ones guilty of social media braggadocio. Binance’s CZ, after all, was just as guilty as SBF of engaging in their public Twitter feud earlier this month. Digital Currency Group’s Barry Silbert, who has been at the center of alarm related to the FTX fallout, has also garnered a reputation as a shitposter.

There are many, many more tweeters who have used online spectacle and trolling as a means of controlling the industry conversation. Think Ben Armstrong (aka “Bitboy”) and Jim Cramer, to name just a couple more. There’s a small army of them. And, even though many are purged in each bear market, their successors are increasingly turning into powerhouses too vocal and influential to ignore in the space.

We need to end the cults of personality

So what’s the solution? How can we better identify this personality type and use this recognition to avoid future pain?

Related: 5 reasons 2023 will be a tough year for global markets

Instead of focusing on building cults of personality, the crypto community needs to focus on platforms and leaders building products that use web3 primitives to solve problems in a manner that’s orders of magnitude better than anything we’ve experienced before. The crypto community needs to stop listening to the loudest voices in the room and start listening to the wiser, more experienced ones — even if they are sometimes quieter. And by the same token, we need builders with experience in creating real value for users to speak up more.

Ultimately, the answer lies with us and with the people that we, as an industry, choose to lionize. We need to learn how to identify and support builders building transparent, secure, high-quality applications and decentralized applications — regardless of how many followers they have.

Corey Wilton is the co-founder and CEO of Mirai Labs, the international gaming studio behind Pegaxy. A renowned speaker and play-to-earn thought leader, he began his first company within crypto in 2018, a customer support service designed to assist cryptocurrency companies with their customer service.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.



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Good Or Bad Read Our Review

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Good Or Bad Read Our Review


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