wkyleg.eth

@wkyleg

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257 Followers

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I built this to apply Stafford Beer's theory of Cybernetic Management to DAOs and AI

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I built a news site that uses scraping and LLMs to aggregate and analyze news in neuroscience, computational psychiatry and mental health research, biohacking, and decentralized science for Elata Biosciences DAO. Feedback welcome! https://news.elata.bio/

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Check out this POAP I added to my collection

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DACs can also exist symbiotically with, and as extensions of DAOs. Coordination is very hard with DAOs. Getting everyone to vote is to. Complicated governance structures often make it hard to bootstrap an organization in early stages. For example, I envision DeSci DAOs using DACs to tokenize Cash flows from new compounds with funds from retail crypto market. Also, in much of the world it is nearly impossible to start a company, strong institutions around markets don’t exist, and even then these companies don’t have access to debt or equity funding. All of this is possible now but we still lack a simplified corporate structure

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So I would argue the “Distributed” and “Autonomous” aspects aren’t actually as relevant as whether the problem is best solved by an ordinary corporation (solved from scaling internal transaction costs better) or commons based peer production. There’s a lot of examples of ordinary companies that would be useful on-chain

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DACs can also exist symbiotically with, and as extensions of DAOs. Coordination is very hard with DAOs. Getting everyone to vote is to. Complicated governance structures often make it hard to bootstrap an organization in early stages. For example, I envision DeSci DAOs using DACs to tokenize Cash flows from new compounds with funds from retail crypto market. Also, in much of the world it is nearly impossible to start a company, strong institutions around markets don’t exist, and even then these companies don’t have access to debt or equity funding. All of this is possible now but we still lack a simplified corporate structure

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So I would argue the “Distributed” and “Autonomous” aspects aren’t actually as relevant as whether the problem is best solved by an ordinary corporation (solved from scaling internal transaction costs better) or commons based peer production. There’s a lot of examples of ordinary companies that would be useful on-chain

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I will be here if anyone else is around! There’s lots of cool things going on in Buenos Aires, a new wave of optimism and energy

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Would love feedback from the Ethereum community, Solidity developers, others in the ETH community

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May be of interest to those interested in intersection of law and crypto

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May be of interest to those interested in intersection of law and crypto

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Would love feedback!

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We're seeking pre-seed funding and grants to audit our contracts, launch our MVP, and seek product-market fit.

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Our progress so far: - Link-sharing pages to serve as profile pages for DAC members. Users can link off-chain content with on-chain identity by showcasing NFTs, Farcaster, ENS records, and a variety of other existing social media networks. This is live at https://red3.me - MVP of smart contracts for DACs. These are built with the intention of being as simple as possible for managers to operate while maintaining the lowest possible Cost of Capital for investors. The standards include a base ERC-20 Token, Invoice System, CEO Election, Executable Transactions (similar to smart wallets), Permissions Management, Tithe System, Vested Dividend Distribution, and Bylaws. These can be viewed at https://github.com/wkyleg/red3-contracts - Business development work with DeSci DAOs and artists. Some DeSci DAOs are interested in using these contracts to tokenize intellectual property

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Some problems solved by DACs include: - Creators are stuck competing for attention in negative-sum games instead of building collaboratively - Creators can't raise equity from fans - Current IP-NFTs and IP-Tokens are not well-structured for raising capital in advance of a project - In much of the developing world, forming a firm is difficult due to regulation, corruption, lack of strong institutions, and other missing infrastructure

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A DAC is an on-chain company, formed due to transaction costs inherent in production, as described in Ronald Coase's famous essay "The Nature of the Firm." A DAO, on the other hand, is a "commons-based peer production" organization, which coordinates large numbers of decentralized participants through new efficiencies in telecommunications technology. This concept is most famously described in Yochai Benkler's essay "Coase's Penguin, or Linux and the Nature of the Firm." DACs will tend to be organizations that can create lower internal transaction costs relative to their environment by existing on the blockchain.

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red3: A Platform for Decentralized Autonomous Corporations (DACs) We believe that the common understanding of DAOs and the problems they best solve is misguided: DACs and DAOs address fundamentally different challenges.

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