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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

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?

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?