The Innovation of Web3.0 Governance Mechanism From the Perspective of DAO’s Decentralization by@bingventures

The Innovation of Web3.0 Governance Mechanism From the Perspective of DAO’s Decentralization

The Governor DAO is a blockchain project whose core values revolve around GaaS and the deployment of DAOs in an enterprise or project. The success of decentralization is largely due to the maturity of blockchain technology and the innovation of the DeFi mechanism. Decentralization and meta-governance ensure that the Bridges we have built for the DAO ecosystem work in parallel to build a highly free and healthy cryptocurrency ecosystem. Ultimately, governance as a service is a mature decentralization process.
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Bing Ventures is a crypto VC fund supporting early-stage projects in the blockchain and cryptocurrency industry.

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The open source community has proven to be the foundation of the community governance and coordination paradigm. The Governor DAO used crypto tools to improve the DAO system and more broadly to increase token-holder participation through decentralized governance. Governor DAO solved the problem of apathetic participants by iterating on governance rules and frameworks.

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Source: DeepDAO

Governance effectiveness is the core metric for tracking community values. Governor DAO ensures effective governance and inherent community value by maximising incentives for all active participants and providing seamless integration of GaaS(Governance as-a-Service). Intrinsic community value (ICV) is the value that members gain in the community through information sharing and collaboration within the community. This value usually represents first possession and exclusive access to the information.

Thus, it is vital that information is provided collectively by the community, not provided and owned by just a few.

What role does devolution play?

In fact, the success of decentralization is largely due to the maturity of blockchain technology and the innovation of the DeFi mechanism. Although members in an organisation can control their own information rights to a certain extent, the content they produce is often just a pile of data, without a unified carrier of cooperation and a perfect trading market. What’s even scarier is that some malicious entities (including governments even scarier than some large corporations) are trying to seize people’s power over their information.

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Source: DeepDAO

Decentralization is ensuring that the value of the DAO’s governance tokens continues to increase. I believe we are still in the early stages of decentralized governance. Decentralization and meta-governance ensure that the Bridges we have built for the DAO ecosystem work in parallel to build a highly free and healthy cryptocurrency ecosystem.

End users need GaaS

The Governor DAO is a blockchain project whose core values revolve around GaaS and the deployment of DAOs in an enterprise or project. Governor DAO guided third-party projects through GaaS for initial liquidity expansion and revenue. GaaS can be further evolved into a more comprehensive form of Unrug-as-a-service. Ultimately, governance as a service is a mature decentralization process. Governor DAO uses such a highly participatory community governance model to ensure a flexible collaboration infrastructure with user freedom.

The self-sustaining community operating model minimises Governor DAO’s trust in governing the network and gives sustainable development processes plenty of competition. Governor DAO is clearly practicing the principle of decentralization. From the initial launch to full decentralization, eventually, GDAO token holders will have full ownership and control of the Treasury. Governance power and influence will continue to be distributed within the project.

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Source: governordao.org

All funds raised and revenue generated by the DAO are fully distributed to the Treasury. The Governor DAO Treasury funds will be used to support project development and the Governor DAO ecosystem.

From a technical perspective, it was important to improve the Governor DAO’s infrastructure and tools, while embracing the metasomes and reducing coordination bottlenecks between contributors and teams. In the future, if Governor DAO further optimizes the developer ecosystem and encourages more lightweight applications, it will reach a wider community of contributors and operate as a new type of open source project built, managed, and funded on a blockchain.

The DAO’s financial value stream

There is a more immediate value aspect to the effectiveness of Governor DAO governance — the flow of funds. These flows can be direct (in the form of dividends) or indirect (as token repurchases) and make the granting of GDAO tokens applicable to valuation through the traditional discounted cash flow method.

In addition, a popular mechanism for increasing the value of a token is to offer products and services specifically to the token holder (or at a discounted price). In particular, exclusive services are particularly important for governance effectiveness: for example, advisory services for token holders.

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Source: governordao.org

The GDAO token grants voting rights in the DAO and ownership of the Treasury. Voting privileges extend to the DAO’s internal governance. In addition, GDAO token holders can utilize their tokens as proxy voters on any third party governance issues. Governance tokens currently held by the Treasury include AAVE, SNX, UNI and YFI.

Governor DAO combined the development of financial instruments with community governance. Communities can more easily set economic terms that balance the interests of their members. By utilizing the governance function of GDAO tokens, the value of all internal things and their flows can be reflected in digital assets, thus forming an open free market and realizing the long-tail of value.

DeFi assets and tools function to discover prices in real time and unlock unrealized potential value on the Internet. If the Governor DAO can further improve the DAO Services Stack to allow more flexible collective governance and open source development without constantly looking for external resources and tools to produce ideas, The benefits of public ownership governance for this virtual open source network are further revealed.

Capitalizing on interactive network value

Social capital theory holds that capital can bring incremental value. Social capital can only be maintained, accumulated and developed through social interaction. And “social money” is turning social capital into cash. Social tokens allow for frictionless interaction among users of the DAO community. This is where a decentralized collaborator economy becomes necessary.

Social monetization of DAO

Community tokens are typically community-centric, rather than individual-centric, and are used to manage access and participating membership within the community. In Governor DAO’s practice, future governance repository contracts will provide more control and administrative responsibility. In the end, no administrative multi-signature wallets were completely controlled by the governance library.

Governor token holders have their own Governor coffers and income generated, but ownership links need to be formalized so that token holders can use them at their best judgment.

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Source: governordao.org

In addition, the GDAO governance library enables formal ownership of project funds and the ability to share revenue in a more nuanced manner, such as buying back GDAO tokens for governance library participants. With these economic foundations, Governor DAO can create healthy and sustainable social foundations for defenders, contributors, and community members, as well as effective incentives for community cohesion and identity.

In short, the Governor DAO token’s whole purpose is to make users part of social network governance. Network members maintain administrative control over all Treasury based on the Governor DAO. Therefore, the Treasury’s priority is to support the development and growth of collective community infrastructure that can be used for further decentralization projects.

Discover more Proof of Existence (POE) value

One of the things that distinguishes humans from AI is their social nature. Humans are social animals, forming social bonds with those around them. Therefore, the POE value makes use of this feature and is verified by the biological characteristics of people.

Proof-of-existence is a pioneering innovation in Sybil resistance that addresses the question “If I can’t censor accounts, how can I design an identity unique off the chain for each user?”.

Governor DAO partnered with biometric company Finnovant to create a portal for biometric authentication for Ethereum wallets. The user enters the portal using a web3-connected wallet and enters “face + voice” parameters. I think this solution represents the right direction for Web 3.0 identifiers. Fortunately, Governor DAO took the first step in this direction.

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Source: governordao.org

Off-chain identity is as important as on-chain identity, and they are both core data for improving decentralization mechanisms. Governor DAO should try to be more imaginative with the Web3.0 governance of off-chain identity. This means that there is still a lot of room for institutional innovation in DAO governance and DID solutions. I’d actually love to see Governor DAO and BrightID, Proof Of Humanity, Everest, iden3, and Idena work together. These are expected to further enhance the Governor DAO’s freedom and flexibility to create a data vault within the GaaS mechanism.

Future: data vaults, MetaFi and lightweight social applications

We believe that decentralization is the most important factor influencing the value of effective governance, but it cannot be directly measured, like brand equity in traditional finance. However, projects like Governor DAO financialized and metacosmized the decentralization mechanism, and introduced Proof of Existence, which eventually formed the MetaFi governance mode of realizing income while governing.

Through the financialization of power, the platform can effectively quantify the value of participants’ achievements. Through Proof of Existence, Governor DAO returns all the values generated in the development process to the community, which can fully mobilize the community’s initiative.

Governor DAO provides a new idea for decentralization by quantifying social incentives, that is, the comprehensive data collection portal is combined with incentives of participants at different levels, and value transformation and innovation incubation of lightweight social applications are carried out within Governor DAO, which is worthy of attention.

By Kyle, Investment [email protected] Ventures

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by Bing Ventures @bingventures.Bing Ventures is a crypto VC fund supporting early-stage projects in the blockchain and cryptocurrency industry.
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