Introducing the BountyDAO

I would like to introduce everyone to the BountyDAO

I believe the future of Genesis is to fractalise to specifically focused sub-DAOs, each has it’s own goal, value generation for DAOstack, and the ability to request funding for it’s work from DAOstack (Given its performing). The BountyDAO came from problems that I feel DAOstack has, which is a reliable Q&A and feedback DAO

1. The BountyDAO is essentially a subDAO of Genesis. We took a snapshot of Genesis and any genesis rep holder can redeem a square root of their reputation in the BountyDAO, via the RepFromToken scheme. Using your regular Matamask all you need to do is sign a transaction, a two second process.

2. The parameters of the DAO are much faster: 12h for pending and 12h for boosted meaning a proposal can pass within 24h! This encourages daily DAO visits in order to stay updated. The reward parameters are also much smaller with 5-rep for a successful proposal and only 7 days for the regular proposal queue.
There are few other changes that you can check out here

3. Why?
There are a few reasons for the BountyDAO:
The first one related to ETHDenver. For those who don’t know, ALL of the bounties in ETHDenver are going to be distributed via a dHack/DAOstack DAO.
DAOstack is allowed to distribute $5,000 worth of bounties. We think allowing Genesis Members to brainstorm and decide what bounties DAOstack should incentivise: what do you think are the most urgent features or integrations that should be developed in Alchemy?
In addition, it will be the BountyDAO that will decide the Bounty winners of ETHDenver on the 16th of February.

Right now the DAO has been funded with 10 ETH, and we would like to create 3 awarding competitions, the first one will be to brainstorm and vote ideas for the DAOstack bounties at ETHDenver, with winners sharing 3 ETH split 50,30,20 between top 3 winners.

Other reasons for the BountyDAO are to create an environment where we can experiment more easily with new Alchemy features, get faster and better feedback from the community (with bounties), while allowing the security level of the system to stay intact (why this is a separate DAO)

I hope to answer any other questions anyone may have. and hope to see you on the BountyDAO :slight_smile:

P.S. The competition scheme is a great example of naming a feature that can use some feedback. After you try it I am open to changing the name, maybe through another competition :rofl:

1 Like

This is a new feature which could be used for hackathon, wow!
Thanks a lot, Eylon :slight_smile:

Very cool! Great job Eylon. I submitted a proposal :stuck_out_tongue: