Be part of the DAO NAO

cryptoeconomics
sitg
experiment

#1

Organizations in the future will be permissionless. They will enable individuals within the organization to fund innovative ideas without any oversight, or permission required from ‘management’. This is another experiment for testing these new funding methods on a small scale, to help us iterate towards a less centralized compensation model.

The goal here is to make compensation more transparent, meritocratic, and more profitable for core contributors. While simultaneously making core contributors more accountable, and creating incentives for individuals that align more closely with the goals of the organization.

So how are we going about this? As a core contributor, trade $500 to $1000 of your monthly salary to get access to an alternative reality.

In this alternative reality, Status matches your funds by 50%. This means, your $1000 turns into $1500 in SNT.

But there’s a catch. The money isn’t yours - yet. Instead, you use can use those virtual funds to fund projects at Status that you think are important.

The only people who can get this money are people who are also part of this alternative reality! In other words, people with the same skin in game as you.

Are you ready to be part of the future and play?

Where does the money go?

It ends up in an SNT pool. When you want to fund a project, you utter the magic phrase “I want to fund this project with $X (matched to $Y)”

Why should I do this?

Because you want to be part of the future. Also, the average compensation per person will increase by 50%. So you can buy that SuperRare artwork you’ve been looking at for the last few weeks.

What should I do with my funds?

Anything that seems like it’s a DAO-like compensation mechanism. If you don’t know what to fund, how about contributing to DAC0?

What is DAC0?

The first decentralized altruistic community at Status. See SITG Experiment #2 - DAC0: Liquid pledging and Breaking Whisper

Where does this idea come from?

See SITG Experiment #3 - give yourself a raise in SNT

What if I want to fund myself?

We assume you will operate under Status’s best interest :slight_smile:

What if I don’t use my funds?

If you don’t use your funds within a month, they end up back with Status for extra matching.

Where are the actual funds located?

Status Treasury keeps track of them for now.

Who can receive funds?

Core contributors who are part of this alternative reality, and community members.

Who is playing so far?

Oskar, Andy, Ned, Barry, Carl, Michael. You?

How do I play?

Write: I agree to the above terms and signal my commitment to give up $1000 of my salary monthly into the SNT pool.


#2

Quick update.

Alternative reality participants
Oskar (1000), Andy (750), Ned (1000), Barry (1000), Carl (1000), and Michael (500).

Total SNT pool
$7875 ($5250 matched 50%).

Used/Pledged funds so far

  • DAC0: Andy 500, Oskar 1000. Total $2250.
  • Rest unpledged so far.

DAC0 itself is awaiting a promising idea with promising participants, i.e ideally participants in this alternative reality. Two candidates so far: Breaking Whisper and something related to Design Identity System.

Remember to pledge before end of October!


SITG Experiment #2 - DAC0: Liquid pledging
#3

Update: SITG Experiment #3 - give yourself a raise in SNT and SITG Experiment #2 - DAC0: Liquid pledging

Since DAC0 is dissolving (no active work, work on liquid pledging already happening through dedicated group), by default Andy and my funds counts as unpledged.

All funds still unpledged. I suggest individuals can keep their funds at their account since we still haven’t quite found an effective way to get value exchange through this pool. The “pledge before end of month” logic can be enforced once there’s actual fund circulation (assuming this effort is continued), as otherwise we punish risk takers with little upside.


#4

Please see my response in SITG #3 - would it be acceptable for me to use these unpledged funds as part of my donation to travel costs for various people coming to Merry Merkle?