Right now, nobody knows what a DAO is. You walk into a room of 10 experts, and they say 10 different things: it’s a multisig wallet, it’s anything with membership + ragequit, it’s got to have a voting, it doesn’t have to have voting, it’s a complex socio-technical system, it’s a PFP NFT, etc. Simultaneously, there’s been a slow proliferation of stacks / DAO frameworks, with minimal collaboration, interop, or re-use of code / applications between those stacks. All this is creating issues for potential users and for the DAO ecosystem at large. E.g., from Syndicate:
“If we can just formalize what a DAO is, that would be incredibly helpful. We’re not confident in building on some of these stacks, because we’re not sure if they’re going to be around in 10 years. We want persistent scripts for persistent organizations. And if your provider disappears, there should be some recourse for you.”
Or, from Compound:
"The important thing is to build a better ecosystem for DAO developers. How do you bring in the next 1000 devs? To do that, we need a shared set of tools.”
To address these problems, Metagov has been running a standards roundtable called DAOstar One featuring many organizations in the DAO space (including every major DAO framework), and we’re speccing out a new ERC standard for DAOs—featuring a “minimal DAO” + standard contract interfaces—that we plan to develop and ship over the next 4 months. You can read more details in the DAOstar one-pager.
Our process is just getting started. For now, I wanted to reach out to the experts in this community to invite your participation (let me know if you’d like to hop in as an invited expert) and to solicit comments. What would you like to see (or not see) in a DAO standard? Do you think something like this is necessary; why or why not? How would you tackle the problem of supporting the existing DAO use-cases without restricting further innovation? As our process develops, I’ll also be posting updates in this thread.
Folks like @lrettig have told me about how valuable a resource this community is. I would love to work with y’all to figure out the approach for this standard and for DAOs in general. And if you managed to get to the end of this long post, please get in touch look forward to buidling together!