LightItUpDAO Final Report ~ around funding from Harmony
We accomplished and exceeded most of our deliverables. Notably we failed to motivate our community, perform decentralized governance, or foster any voting rounds.
With regard to our budget, this was largely inline with expectations. Notably we experienced $17,000 in losses from the market downturn, and a wallet hack.
The analysis is here (two tabs):
Presently the DAO rests in a stalemate, caused by an internal dispute, and the inability of the board to take quick decisive action.
There is no more money, but we have some name recognition and one paid gig under our belt.
Because we did not nurture our community there is no way to hold an election because nobody would vote.
The only way forward, is to negotiate a settlement to the dispute, and then slowly over time, create income via grants and paid gigs, engage the community, and hold an election.
It is critical to write out bylaws at the beginning.
The governors should not be recruited hastily, and they should be persons with a variety of significant experience and ability, and persons with the time to stay engaged.
Should a DAO act in a decentralized manner from day one, or build a business first and decentralize once the business reaches sustainability.
I don’t know the answer to this question, and I hear strong opinions on both sides.
Being decentralized from the beginning might create something that several persons could not envision on their own, on the other hand the DAO may become immobile because of disagreements. I think this could be done with clear bylaws, an engaged board and community, and strong, well thought out tooling and governance, all in place at the beginning.
Building a business first, allows for fast progress, and pivots, but could miss the genius of the collective. I do not believe that a board is necessary for this approach, only a team of engaged, and talented builders.
The LightItUpDAO chose the second approach, we were light and fast, but not really a DAO.