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The only DAO I've participated in was Bisq and it works just fine going on years now, resources get allocated for development and ops, plus the work done on mar

The only DAO I've participated in was Bisq and it works just fine going on years now, resources get allocated for development and ops, plus the work done on marketing, documentation, etc. This is all paid for by trading fees on the exchange. Some people turn up and do dev work for one round, others participate for years. Not sure what your threshold is for "interesting calculations" but running an entire tech business for years on end with no central governance or traditional corporate structure seems incredible to me. You can participate too if you wish, maybe try drive it into the ground for fun? Or maybe run a seed server with decent uptime and get paid for it instead? Rather than theoretical putdowns based on some strange misconceptions of how this stuff works under the hood, that's a real life counter example. https://bisq.network/dao/ https://bisq.network/dao/

andrepd 5y ago
I don't get it. What does that DAO do exactly? They talk about distributing revenue, but revenue for what?
- zucker42 5y ago
  Looks like Bisq is a decentralized exchange. You run the software and it automatically connects with others trying to trade the same pair of cryptocurrencies in the other direction. I got this from the FAQ. Presumably the DAO manages the decentralized exchange.
  - Grimburger 5y ago
    Pretty much this. It's a P2P trading platform that runs on a native Java GUI with seed server backends, people pay fees to trade on there, this goes into a consolidated funding pool under no ones control, stakeholders vote on paying contributors for new development/running the servers/etc. Really anything can be applied for as a contribution, you can rock up right now and say you'll translate the docs into Esperanto for X amount and the community decides if that's worth paying out of the pool for this round, if rejected you can apply again next round, no hard feelings. No one is in control, it's all decided communally with votes recorded onchain for each proposal and paid out automatically if they pass, they have coloured coins as the proxy for the votes (sort of like stock voting but digitally and with cryptographic signatures), those same coins are also what people pay for trading fees, making a closed loop between funding and advancing the DAO. If people trade less, there's less money for dev work, creating incentives for a range of stakeholders to collectively make proper choices and produce good results. Never once have they raised money from speculators, no ico or anything. All funding has come from people using the product itself.
    - jimmySixDOF 5y ago
      This is also my understanding of a DAO as a method of parceling out work and rewarding those who complete it. The overall value derived from all work within the community backs up the value of the reward offered. This is a "Sweat Equity" or perhaps "Sweat Debt" use of the DAO concept and has an appeal to small unfunded startup type initiatives who have an idea and clear work objectives but don't have deep pockets to reward talent at the outset. In this light I find DAOs to be a potential game changer.
    - defen 5y ago
      > Really anything can be applied for as a contribution, you can rock up right now and say you'll translate the docs into Esperanto for X amount and the community decides if that's worth paying out of the pool for this round, if rejected you can apply again next round, no hard feelings. Let's say the community decides it's worth paying for that. Does payment happen up front, or only upon completion of work? If the latter, who decides if the work meets the standard that was expected and thus is worth paying out for?
freemint 5y ago
I also struggle with Bisq what is supposed to do. > In an email, Bisq told Decrypt the platform doesn't use smart contracts "at least not in a commonly understood sense of Ethereum smart contracts." The mechanism seems to be let's do all computation of the chains.

andrepd 5y ago

I don't get it. What does that DAO do exactly? They talk about distributing revenue, but revenue for what?

zucker42 5y ago
Looks like Bisq is a decentralized exchange. You run the software and it automatically connects with others trying to trade the same pair of cryptocurrencies in the other direction. I got this from the FAQ. Presumably the DAO manages the decentralized exchange.
- Grimburger 5y ago
  Pretty much this. It's a P2P trading platform that runs on a native Java GUI with seed server backends, people pay fees to trade on there, this goes into a consolidated funding pool under no ones control, stakeholders vote on paying contributors for new development/running the servers/etc. Really anything can be applied for as a contribution, you can rock up right now and say you'll translate the docs into Esperanto for X amount and the community decides if that's worth paying out of the pool for this round, if rejected you can apply again next round, no hard feelings. No one is in control, it's all decided communally with votes recorded onchain for each proposal and paid out automatically if they pass, they have coloured coins as the proxy for the votes (sort of like stock voting but digitally and with cryptographic signatures), those same coins are also what people pay for trading fees, making a closed loop between funding and advancing the DAO. If people trade less, there's less money for dev work, creating incentives for a range of stakeholders to collectively make proper choices and produce good results. Never once have they raised money from speculators, no ico or anything. All funding has come from people using the product itself.
  - jimmySixDOF 5y ago
    This is also my understanding of a DAO as a method of parceling out work and rewarding those who complete it. The overall value derived from all work within the community backs up the value of the reward offered. This is a "Sweat Equity" or perhaps "Sweat Debt" use of the DAO concept and has an appeal to small unfunded startup type initiatives who have an idea and clear work objectives but don't have deep pockets to reward talent at the outset. In this light I find DAOs to be a potential game changer.
  - defen 5y ago
    > Really anything can be applied for as a contribution, you can rock up right now and say you'll translate the docs into Esperanto for X amount and the community decides if that's worth paying out of the pool for this round, if rejected you can apply again next round, no hard feelings. Let's say the community decides it's worth paying for that. Does payment happen up front, or only upon completion of work? If the latter, who decides if the work meets the standard that was expected and thus is worth paying out for?

freemint 5y ago

I also struggle with Bisq what is supposed to do. > In an email, Bisq told Decrypt the platform doesn't use smart contracts "at least not in a commonly understood sense of Ethereum smart contracts." The mechanism seems to be let's do all computation of the chains.