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androidsixteen
@androidsixteen.eth
What all of these futuristic token org ideas lack is any semblance of good corporate governance It’s not enough to automate the token flows in the system, you need governance — and that is a messy and very human process I’m getting flashbacks of DeFi summer, we’ll probably rediscover governance forums 🙃
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links 🏴
@links
Hot take: DAO with a board
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androidsixteen
@androidsixteen.eth
What are the specifics though? How do you elect the board, are there officers, what happens when a board is in breach (which jurisdiction do you use to navigate legal issues)?
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links 🏴
@links
Specifics will depend on the org itself but personally I think the mechanisms should be able work onchain without legal recourse (which can be added later if needed). Could be as simple as 1-member 1-vote, where existing members vote to add members, and vote on adding/removing people to the board (who have voting control over treasury). When board is in breach, remove them.
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androidsixteen
@androidsixteen.eth
Don’t you worry that gets too plutocratic?
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links 🏴
@links
Plutocratic compared to what? It’s a similar setup to most small private corporations. If you want it to be similar to a co-op you just have to change the membership criteria. Whether or not an org mechanism works depends on the goal of the org and the scope of the org. Different tools for different jobs.
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androidsixteen
@androidsixteen.eth
Where do you adjudicate issues without a system of legal recourse?
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links 🏴
@links
Depends what the issue is, I guess? Legal system is mainly used AFTER an issue has happened, and can be costly, slow to use. There are some issues which are best dealt this way. There are also issues which can be dealt with using onchain tools. For instance, you could require members to stake for their spots, and their stake gets slashed if they do wrong by the group. Having a 4/7 multisig of known people also reduces possibility of board theft versus a SMB, which usually has sole-signing authority on disbursements. Again, it completely depends on the situation. When speaking about DAOs, most people tend to overcomplicate their system - building for millions of members when they only need to build for tens.
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