The Mission and Principles of Genesis 1.0
As per the first blog post here we are trying to clarify the mission and principles of Genesis. We welcome any feedback or suggestions on any parts of this text which will be considered before this is made into a proposal.
Note - this text is the same as that in the blog.
Our proposed mission statement for Genesis is to expand the DAO ecosystem through DAOstack adoption and the increasing utility of the GEN token .
In the medium-term, we envision Genesis as the leading ecosystem fundDAO in which reputation (rep) holding members effectively control monthly revenues to fulfill this mission.
These revenues would include:
- A locked GEN (LGN) token budget
- DAI or ETH coming from the DAOstack team, provided by the initial token sale funding
- DAI or ETH from the sale of LGN
- Potential revenue from the ArcHives registries, which Genesis is expected to control
In doing so it should:
- Onboard new members to be active stakeholders in the DAOstack ecosystem
- Fund projects that improve the theory, architecture, UX, and real world adoption of DAOs that use DAOstack
In the long-term, we think Genesis should aim to bring about a world where DAOs enable people to collaboratively govern and own the platforms and organizations where they invest their attention.
In order to achieve these medium and long-term goals, we believe we must establish a common set of principles, maintained through social consensus, to guide our actions. Our proposed principles for Genesis are:
1. To value the decentralization of power and wealth and collectively aspire to DAOify the world
Our view is that centralized institutions, such as large corporations, are largely responsible for most global unrest. In many cases, they are incentivized to seize authority, capture regulatory bodies and leverage these powers against the common interest. We believe DAOification will lead to greater overall prosperity, and should be Genesis’ foremost moral compass.
2. To value those who have skin in the game
Skin in the game means having something at risk when taking a decision. In order for Genesis to make smarter decisions in managing its resources, we believe stakeholders should generally be staked in the GEN economy, and we’ve devised a reputation generation scheme that rewards those who lock GEN tokens with voting rights.
3. We want those who contribute work to have skin in the game
Builders, growth teams, predictors, and other contributors of the DAOstack ecosystem should be rewarded in GEN for their efforts, which they can lock to generate voting power. This aligns incentives across different interest groups, further strengthening Genesis’s economy.
4. To be biased towards action over discussion
While discussion is important, conversations should generally have an implementation aim leading to increased DAO adoption, improved architecture, and so forth across the DAOstack ecosystem. Working groups and research should evolve into use cases, and iterate based off of live trials and empirical learnings. If you see a problem, act!
5. To design for minimal viable bureaucracy
Every organization has operational bylaws that prohibit or restrict certain actions from being taken. In Genesis, we’ve witnessed this already, with the requirement that new members undergo a social-identity verification. We do not believe that we should attempt to eliminate these sorts of policies altogether, but to optimize for a reduced bureaucracy whenever possible in order to support effective social scalability. This being said, having no operational rules makes it hard to undertake cohesive collective action. Since organizations have the natural tendency to go over-ruling, we aspire for a minimum viable bureaucracy.
6. To act in good faith and resist bad faith actors
There are many social attack vectors for any type of organization, and DAOs, being new structures, are especially vulnerable. We expect Genesis members to hold each other mutually accountable for acting in good faith, creating and delivering proposals as promised, while simultaneously taking action against malicious actors, such as a stakeholder who tries to sell their voting power and on-chain bribery attacks.
7. To increase the value of GEN
While it may feel uncomfortable to state this outright, GEN is the lifeblood, the “collective attention token” of the DAOstack ecosystem, and a valuable GEN token leads to more grants administered across all verticals. Being able to raise and defend the value of the GEN token, and by extension, the value of our collective intelligence, is vitally important to jumpstart a long-lasting, decentralized ecosystem.
This potential mission and accompanying principles will be submitted to the Genesis community to vote on before November 21 2019.