4 ms·
How many times do we have to keep trying to make cars happen, we have perfectly good horse-drawn carriages! The constitution DAO was pretty successful applicat
by hGkXBvR 4y ago
How many times do we have to keep trying to make cars happen, we have perfectly good horse-drawn carriages!
The constitution DAO was pretty successful application of the tech. Within a week, they went from idea to public fundraiser, raised more than they would have been allowed to on Kickstarter or GoFundMe, had immediate access to the funds, and paid 0% commission compared to what most corporate platforms would charge. When the bid failed, donors were able to seamlessly exchange their PEOPLE tokens for their initial deposit. The whole process was faster than Kickstarter’s 14 day settlement.
The fees could be mitigated by using a rollup.
They lost the auction because their maximum fixed bid was public knowledge, but another application of this tech could just activate the funds toward the goal such as putting it toward carbon removal.
Disclosure: I was one of the donors and I knew the risks and also the fees involved, and I was satisfied with the whole process. A low fee tech like this on a rollup would be great.
- atoav 4y agoThe criticism that I phrased was not that somehow it could be done, it was that I don't see a reason why it should.