Decentralized autonomous organizations (DAOs) are back – at least for dogfooding purposes.
Ethereum’s largest hackathon in North America, ETHDenver, showcased DAOs for event management and more. From coordinating the hackathon’s winners to purchasing meals at Capitol Hill food trucks in Denver’s historic Capitol Hill neighborhood, DAOs ran ETHDenver.
Even the winning hackathon team was a DAO: Coz, a project aimed at being more efficient at distributing aid than non-profits, won the hackathon and $3,000 worth of DAI.
Through interviews conducted with multiple teams at ETHDenver earlier this month, it became apparent that this isn’t 2016’s DAO, (the hacked smart contract that ultimately split the blockchain into ethereum (ETH) and ethereum classic (ETC)).
Although use-cases remained limited in scope, DAO proponents are focusing on the inherent challenges of decentralized coordination with more caution this time around the block. If ETHDenver 2019’s focus on DeFi was an early indicator of that sector’s growth, DAOs could be much more prominent in 12 months’ time.
Just like the first DAO, many are still about funding open source development for the ethereum network.
MolochDAO, a fairly simple protocol that allows limited groups of friends to pool collective funds for issuing Eth 2.0 money grants, was the face of 2019. Launched in March 2019, the DAO stripped the idea to the basics and raised funds from big-wigs such as ethereum co-founder Vitalik Buterin and ConsenSys CEO Joe Lubin.
MetaCartel, a similar concept, followed in December 2019 and showcased its product at ETHDenver.
As Axia Labs Founder and MetaCartel member James Waugh told CoinDesk in an interview, MetaCartel is an experiment on social signaling in the ethereum community compared to Moloch’s focus on Eth 2.0 (the next iteration of the ethereum blockchain based on the Proof-of-Stake (PoS) consensus algorithm).
MetaCartel focuses on ethereum values and rewards teams that hold…