A financially incentivised DAO on ICON

General Discussion
1

Hi,

I am trying to gauge interest within the community for a DAO.

The reason I feel a DAO is needed in ICON is for two reasons: that there is a lot of capital being hoarded and not put to use, at the same time, this capital can be used to drive dapp growth, and the DAO would earn funds for incentivising the build.

Lack of community say when it comes to network upgrade proposals and the lack of say in CPS votes.

There also seems to be fragmented way of communication and I believe a DAO which groups people together, allows for more ideas to be shared and for more of a united voice.

To go into detail, especially with X-call / BTP around the corner:

  1. A DAO could vote to fund the development of a dapp on ICON or on another chain and be a share holder, which earns them governance tokens. This dapp can also concentrate and promote the growth of BTP assets on ICON or alternative chains.

The DAO could also chose to purchase assets on other chains and bridge them over - for example.

Similarly, with a strong community who are backing the dapps, the chances of success are higher

  1. With a stronger front on network upgrades or on ICONā€™s direction, take for example these two posts I created a while back on how Inflation can be changed to aid ICONā€™s growth:

https://forum2.icon.community/t/incetivising-btp-assets-through-staking/2719/7

https://forum2.icon.community/t/ecosystem-market-maker-for-icon/2609/10

The DAO can also use their ā€˜powerā€™ to aid the inflation towards their dapp growth.

  1. There seems to be a lot of wastefulness when it comes to CPS in my eyes, and many p-reps are afraid to vote due to politics. If the CPS votes were put on to the DAO community, Political scrutiny would lessen.

An idea of how the DAO could start up:

An NFT range could be created with the funds being sent to a DAO. The NFT would create an Identity for the DAO community and also help raise initial funds.

The only difficulties I see is that I imagine the DAO would need to raise approximately 1m in $ICX to be feasible and to work on a product.

I look forward to hearing your feedback.

1 Like
2

this seems like a good idea, and i would be curious to know what folks from other ecosystems think. are you open to reaching out to get some feedback?

3

Interesting idea! Iā€™m still trying to wrap my head around it. Can you clarify the point below? When you say ā€œcapital is being hoardedā€, who are you referring to, and what about having a DAO could reduce the amount of capital being hoarded?

The reason I feel a DAO is needed in ICON is for two reasons: that there is a lot of capital being hoarded and not put to use, at the same time, this capital can be used to drive dapp growth, and the DAO would earn funds for incentivising the build.

4

Itā€™s not specifically about anyone, but I donā€™t feel that enough of ICONā€™s $ICX is in circulation generating income or being invested into assets. I feel if you can use $ICX to fund development of a dapp or some sort, it will then invest more into the ICON economy and generate opportunities and generate further income. Too much people relying only on staking rewards.

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