- An introduction to a potential new approach to DAOhaus value accrual
- DAOhaus receives a small percentage of loot shares in all v3 DAOs, the value of which accrues to DAOhaus only if DAOs make their respective loot shares transferable
- This would have strong alignment with (my interpretation of) the goals of the DAOhaus community
My interpretation of the DAOhaus community is that it wants two big things simultaneously:
- That the basic DAO coordination tools DAOhaus builds/maintains be public goods available to all
- That development of those tools and infrastructure, by DAOhaus, be sufficiently self-sustaining to enable us to bring those tools to all who need them and continue innovating
There are likely multiple approaches to achieving these two goals together, and some or all of those approaches likely complement each other.
This post outlines one of those potential approaches, with the goal of sparking discussion on the merits, desirability, and feasibility of the idea.
h/t to @cupofjoseph, who first introduced a similar concept back in February.
The idea below relies on a new Moloch framework feature. In Moloch V3, both shares and loot are ERC20 tokens. A DAO can turn on (or off) transferability of each of those tokens. The key to the following idea is that loot transferability can be turned on.
In this post I will refer to the governing body of DAOhaus, which is currently named UberHaus, as “DAOhaus”.
For every DAO launched from our v3 summoning factory, DAOhaus would receive X% of total shares as loot. For example, if a DAO’s members have a total of 100 shares (including loot shares), DAOhaus would be allocated X loot shares.
If/while those loot shares remain non-transferable, DAOhaus would not and could not do anything with them. No funds would be extracted from the DAO.
If/when a DAO votes to make their loot shares transferable (and therefore likely to have a market and a market value), the DAOhaus treasury would then increase in value accordingly. In other words, those loot shares would back the value of the HAUS token.
This X% would be controlled by DAOhaus governance. It could initially be set to 0%, and then turned on if & when the DAOhaus community felt it appropriate, at a level it deemed appropriate.
Summoning and using a DAO would remain free of charge. The vast majority of DAOs would experience virtually no impact from this mechanism.
- No funds would be extracted from their DAO, and the DAO could spend all the funds in its treasury (and vaults)
- This is aligned with objective (1) from above
- The only impact would be a small X% dilution of DAO member’s ragequit value
The only DAOs that would potentially experience an impact (such as those loot shares being ragequit) would be the ones that have already chosen to financialize their loot shares, and make ragequit access to their treasuries permissionless. It makes sense that these would be the DAOs that contribute to the value of the DAOhaus treasury.
- (Those loot shares could be ragequit from these DAOs if a DAOhaus governance proposal passed to transfer those loot tokens to some recipient, who then ragequit them.)
No DAO would be locked in to using DAOhaus. They would only stay with DAOhaus if DAOhaus continued to be sufficiently valuable to them. This would maintain DAOhaus’ incentive to continue providing valuable infrastructure and services.
DAOhaus’ incentives would be aligned with all DAOs: since it would have a potential X% stake in the future value of each DAO, it would be incentivized to help each DAO grow its treasury over time
Similarly, DAOhaus would benefit from enabling as many and as wide a variety of DAOs as possible to use our infrastructure, which is highly aligned with both objectives (1) and (2) from above
- DAOhaus would benefit from more projects building user interfaces on top of and with our infrastructure
The value of the HAUS token value would be aligned with the total value of DAOs on DAOhaus, eg “DAOhaus makes money when its DAOs make money”. Via the HAUS token, the entire ecosystem would be aligned behind the incentive to help DAOs using DAOhaus become more valuable over time.
This approach would be fully compatible with other value accrual mechanisms, such as (B2B) services, fee-split agreements with projects building on our infrastructure, curation w/ the HAUS token, and even boost- or services marketplace fees.
I think this could actually be a relatively light lift to build
- Add logic to
baal.mintLootthat mints an extra X% in loot to the DAOhaus treasury
- Make X a parameter controllable by DAOhaus governance
- The most difficult part would be figuring out the multi-chain mechanics (if any)
In case its not clear, this is not a proposal. It should not be construed by any readers (especially those outside of Warcamp) as a likely new policy. It’s simply an introduction to an idea and a possibility, and meant only to spark feedback and discussion.
With that in mind, please share your feedback!