Eye on Icon Community Session DAO's

This week we are going to have a live session with various members of different DAO’s on the Icon network (Balanced, Omm, RhizomeDao, IAM)

We want to get everyone to share their views on what is important to ensuring a DAO’s success.

This is also your chance to ask any questions you have wanted answers to in regards to DAO’s.

So please add your questions below if you cant attend the live session.

Thanks
Fez

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What are your thoughts regarding:

  • Minimum amount / percentage of governance token ownership to launch a change request / use of DAO fund vote?

  • Could there be a pre-vote pool in which smaller investors can pool together to launch a vote?

  • Could a tokenized physical asset platform (real estate, precious metals, TCG, …) be governed as a DAO given the complexities with audits, storage, security, notary services, …?

  • What are the most important lessons you have learned from following evolution of other DAO platforms?

  • What are your thoughts about centralization? How to avoid? Large DAO funds are attractive targets for whales/VC’s. Example: Uniswap “DeFi Education Fund” proposal (see Chris Blec report: https://defiwatch.net/a-request-for-transparency-from-a16z/).

  • How have the different teams/DAO’s set-up admin keys/multisigs (sig amount needed vs total amount)? Are these final or are changed planned to be made? Example: Balanced has several teams working on the platform. Does every team have one sig? Multiple people know the sig within the same team?

  • Are there any safety precautions within the existing platforms (eg freezing of funds) which are considered centralized? Any plans to change these in the future towards more decentralization?

  • Where will potential votes be discussed for feedback before the vote is launched? On the Icon Community Forum? Will the teams create a separate forum within their website, within the app, on Telegram or Discord, …?

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I was wondering about the choice of integrations with BSC, polkadot and NEAR protocol. What made you choose these blockchains over others?

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Thanks for covering all my questions Fez.

I was a bit disappointed in @Benny_Options answer regarding the admin key set-up. I think the trust in the teams building Balanced is very high within our own Icon community. However once we start attracting users from different ecosystems, these type of questions will be raised and the response Scott gave will be considered a big red flag.

I wasn’t expecting a very detailed response with all names of the people who have admin keys. No one wants to have a target on their backs. I’m just looking to understand how much damage one person with bad intentions working on the project could do. I hope at least there is multisig set up wherein people from different teams have to sign off, but even that wasn’t answered.

I do believe a bit more insight in this security aspect is needed and should be public information on any DAO project.