Word on the Streets

DAO it for Free!

JohnnyProduce.eth -

This series has always been intended to introduce and engage readers with the Web3 space in general. This particular article is quite specifically aimed at introducing and utilizing a few tools to engage readers with some of the ideas we have covered already.

One of the challenges for many folks has been the initial funding of a wallet and the costs associated with transacting on the blockchain.

WE ARE EXCITED TO INTRODUCE A WAY FOR US TO TRY THIS OUT TOGETHER, FOR FREE!
That’s right, if you have set up your non-custodial wallet you can participate in this exercise for free!

This is exciting because the best thing you can do to learn is to try it out and we can now try a bunch of stuff together in a completely accessible way.
Please accept this invitation to participate!

First, allow us to introduce you to the tools.

P.O.A.P.

POAPs are NFTs minted under the Proof of Attendance Protocol smart contract. Each POAP is a digital record held by collectors as digital proof that they attended, or participated in, a physical, virtual, or spiritual event; the POAP can double as a token qualifying its collector for potential future utility.

Every issuer determines the aesthetic, distribution, quantity, and validity of the POAPs they issue, among other characteristics.

Some examples of popular use cases are:

  • 💍 Collectible - Such as an attendee to a wedding receiving a POAP to commemorate the event, which has significant emotional value to the holder.
  • 🏆 Recognition - Such as an academic institution issuing a POAP to graduates of a school program.
  • 🎖️ Reward - Such as a musician who rewards the attendees of a live performance with a POAP that can later be used to provide access to exclusive content or merch.

A single POAP can serve multiple functions throughout its lifetime. That functionality ultimately depends on the issuer's spirit and desire to engage with their communities.

We want to offer a free POAP NFT that will serve to recognize and engage early participants in our community. These tokens will commemorate early engagement, recognize some basic accomplishments, will make HODLers eligible for future rewards, whitelists, and also opportunities to practice engaging in governance of future community decisions. (The next tool we introduce will explain how the governance stuff can happen)

Before we get to that, here is what you need to do to qualify for this POAP NFT drop:

Okay so what’s all this business about governance?

You might remember some of the stuff we have written about DAOs. To briefly recap, DAOs (decentralized autonomous organizations) are an innovative and disruptive structure that allows cooperation towards community goals without layers of needless hierarchy. With the ability to use smart contracts to vote and govern community decisions, networks can function and flourish, not because of any particular hands on the steering wheel but because of the mass of hands of the whole collective reaching towards it’s own goals and values.

Many DAOs utilize a tool called Snapshot.

Snapshot

Snapshot is a place where DAOs or other projects can create proposals for people to vote on using crypto technology. In the industry, this process is called ‘vote signaling’. Traditionally, to vote using crypto would normally incur gas fees to process the votes but on Snapshot, that doesn’t happen, thanks to the clever use of the decentralized storage network called IPFS. On Snapshot votes are essentially FREE!

We have figured out a way to allow our POAP hodlers to connect their wallet to a Snapshot proposal and vote by signing a free transaction. That means that we can begin building our community, learning together, and onboarding others at no cost! This is a really exciting discovery for us and we have some really big ambitions for the future, but for now, today, we can say that this is where it starts.

Once we drop the NFT to all of your wallets we can follow up on future utility and we only wanted to just foreshadow it here to both share our excitement and offer compelling reasons to make sure you get your forms submitted this week.