Hello everyone, I originally posted this in DAO General but did not receive much feedback. It was suggested I reposted here. The DAO Coalition folks would be glad to answer any questions.
Hello everyone, Approximately a year ago, while a contributor at Bankless Legal Guild, I was contacted by a colleague who is part of the core team at CityDAO (“CDAO”) He had gotten wind from the DC based advocacy group, the Blockchain Association (“BA”), of a letter sent by the Crowd Funders Association to the CGFA, urging strict regulation of DOAs and NFT projects (add link). The BA recommended that he setup an informal working group, with colleagues from other DAOs to address what could potentially be an existential threat. This informal working group became known as DAO Coalition “DAOCo”. I, along with a Bankless Legal Guild colleague (Eagle) were some of first to join this informal observer group so we can have firsthand information about the latest developments. Since then, members from over 30 others DAOs have joined as well. The DAOCo, a while back, began discussions about formalizing the structure and membership, and more recently began to take concrete steps in this direction. One request is for the members of this informal working group to approach their respective DOAs, in accordance with each DAO’s internal governance procedures, and have the members formally appointed. I’ve enjoyed regularly meeting with this group over the past year and found them to be hard working, passionate and committed to ensuring that regulation, when it comes, is both fair and balanced. I would like to continue this work in a formal capacity and seek Banksless DAO’s approval to do so. What is the proper governance process to do so? Additional info is enclosed below. Please don’t hesitate to reach out with any questions.
Thank you for your interest in representing bDAO at DAOCo. Though I don’t know much about DAOCo yet, it seems like it could be important for bDAO to be connected and informed in some formal capacity. Before I vote, I have a few questions for you:
Does DAOCo have a Terms of Reference?
I ask because I’m not totally clear on the purpose and function of DAOCo.
As a representative of bDAO, are you asking to convey any kind of authority or formal decision oriented representation of bDAO?
Some more detail on how you’d represent bDAO and any implications would be very helpful.
What is the significance of financial contribution to DAOCo? How are the funds used, and how will they be used in the future? Are there any expectations of funding contribution to DAOCo by its membership?
How do you see bDAO benefiting from this proposed formal relationship?
Beyond your clear interest the role, what are some other reasons why you feel you should be the one representing bDAO at DAOCo?
Do you expect (or would like) any compensation for your time representing bDAO in this role? Are other representatives compensated either by their DAOs or by DAOCo?
I’m sure others can provide more detail in terms of the process to elect you in this formal capacity but I think this is a great start. As others drop their questions here, I’m thinking a subsequent post with explicit implications of the relationship with DAOCo, and your role, with a poll, would probably be enough.
Glad to support you. Is there any kind of designated public meeting space or public agenda for the coalition to share over and above the linked documents?
A representative of bDAO would be recognized, by both bDAO and DAOCo, as the embodiment of bDAO’s inclusion in DAOCo. The representative would not have authority to make decisions on behalf of their DAO, unless their DAO so chooses to endow the representative with such abilities (and we are not asking for that).
The four organizations which financially contributed to DAOCo each earned a seat at the board of directors, and each contributed to the bureaucratic process of DAOCo entity formation. DAOCo is not presently seeking contributions from other member organizations.
By being formally included in DAOCo, BDAO will be positioned to weigh in on DAOCo’s inter-organizational petitions and policy positions.
The DAO Coalition began as a working group at the behest of the Blockchain Association, the leading nonprofit organization dedicated to promoting a pro-innovation policy environment for the digital asset economy. Iti s made up of the largest and best funded players in the space. Given the existential nature of any regulatory decisions that will be made in the future, I think it is important that bDAO has a seat at the table allowing it to provide its input.
I, along with a colleague in the Legal Guild, were 2 of the first to get invited to join this informal group. As a result, I have a good grasp of what the mission is, as well as a relationship with other DAO Coalition members. Last, given the regulatory nature of the matters the DAO Coalition was created to address, my background as a lawyer will come in handy.
Compensation would be nice but it can wait until other representatives to DAO Coalition begin getting paid as well.
Thank you @ComeBackKid for taking the time to answer my questions.
I’m sure many in bDAO would be interested in regular updates from your involvement with DAOCo beyond the DAOCo meeting records, as they can be opaque to those unfamiliar. I don’t think we need a formal write up so perhaps there’s a way that minimally adds to your workload? Would you be interested in sharing some highlights on the Community Call at a frequency that makes the most sense to you? Even just a google doc that you update periodically with info pertinent to bDAO would be great.
@Trewkat@links@Jengajojo@Icedcool
This is probably a broader conversation but I’m wondering if you think it’s worth formalizing a process to establish and document bDAO representatives.
Makes sense - I can do an update whenever anything material comes up. In the meantime, I will advise DAO Coalition that the appointment has been approved, unless anyone thinks of any other steps that need to be taken. Thanks for taking the time to vote everyone, I appreciate your support.
