According to data from websites such as Dappradar, the recent trading volume and liquidity of various NFTs have dropped significantly. As the NFT craze dissipates, will the next hot spot in the industry turn to DAO? Yesterday, Gitcoin founder Kevin Owocki talked about the prospect of DAO while attending the MCON 2021 conference.
DAO is a decentralized autonomous organization, generally supported by blockchain smart contracts or codes that execute set instructions. DAO can bring together people with a common vision or goal from all over the world. They typically rely on token-based governance voting and may require holding certain tokens in order to participate in governance.
The founder of Gitcoin believes that the coordination mechanism of Ethereum itself is transparent, immutable, and programmable, and this mechanism has a wide range of influence on a global scale. But a failure to coordinate in terms of misinformation, climate change, or privacy violations can have devastating global impacts.
He believes that if the Ethereum community pays more attention to the development of the public interest (rather than proposals such as DeFi and NFT), it will benefit all mankind: "DeFi is great, and investment art is great, but what I really want to see is that we Going out of the decentralized casino and really having a positive impact on the world. I think that’s probably what’s so valuable about Ethereum.”
Gitcoin is an incentive platform and community for the development of open source software on Ethereum. Its vision is to support various open source projects through the blockchain and promote the development of the open source movement. Gitcoin, which provides a platform for open source projects of all sizes to seek funding and access to funding, is currently in its 11th round of donations, and the community has adopted a DAO as a form of governance.
When Owocki participated in the roundtable discussion at the MCON meeting yesterday, he believed that community coordination is one of the most critical issues in the development of the industry.
In response to global threats such as false information, the immutability of blockchain technology can solve the problem of traceability, and community coordination can effectively take advantage of these advantages.
DAOs are nothing new, but their availability and potential applications have grown rapidly in recent years. According to the nature and purpose, different types of DAOs such as operating system, investment, agreement, service, social and media have emerged.
While DAOs are inclusive community building platforms, they are also naturally exclusive in some ways. Users must be very tech-savvy and understand cryptocurrencies to participate in the DAO, and typically must hold the corresponding tokens — and possibly a large number of tokens — to have a say. With the emergence of new tools and the formation of various governance structures, the pattern and form of DAO will continue to change.
