ConsenSys DAO Day - How to Engage your Community - Case Studies and Lessons Learned - April 2023
Introduction
Mike Creak, CEO of ConsenSys Mesh, introduces himself and the company. He briefly talks about their focus on investing in and incubating web3 companies.
About ConsenSys Mesh
- ConsenSys Mesh connects people, projects, and protocols building web3.
- They have been incubating and investing in some of the most influential blockchain projects since the early days of Ethereum.
- They have roughly 190 companies in their portfolio with well over 240 founders and around 5000 people within their community.
Focus on DAOs
Mike talks about how ConsenSys Mesh has participated in the development of tools to help coordinate DAO operations. He explains three core buckets that DAOs fit into.
Three Core Buckets for DAO Operations
- Investment dials are used to deploy capital.
- Service dials provide services such as legal or marketing support.
- Operating dials are focused on advancing a specific project or protocol.
Rug Radio Case Study
Mike dives into a specific case study with Rug Radio, an operating dial that he believes is one of the best at the moment.
Rug Radio Background
- Rug Radio is an operating dial that focuses on music NFT drops.
- They have a strong community and are able to leverage that to create successful NFT drops.
Rug Radio Operations
- Rug Radio uses a multi-sig wallet for transparency and security.
- They have a team of moderators who help manage the community and ensure that everything runs smoothly.
- Rug Radio has partnerships with artists, which helps them create unique NFT drops that are highly sought after.
- They use Discord as their main communication channel with the community.
NFT Universe and Investment Structures
This section discusses the different types of NFTs, including those that allow individuals to utilize their likeness and IP for adoption and awareness. It also highlights investment structures such as DAOs that make collective decisions on investments.
Types of NFTs
- There are different types of NFTs, including those that focus on allowing individuals to utilize their likeness and IP for adoption and awareness.
- Some NFTs are purely focused on collector fingerprints for fine art.
- Labyrinth Zero and Metropolis are examples of DAOs making investment decisions on leading infrastructure in web 3, blockchain, AI, and operating systems.
Investment Structures
- DAO investments meet weekly where individuals can bring recommendations for projects to invest in.
- These investments are similar to traditional VC structures where a group of people collectively make decisions and deploy capital.
- The coordination effort is important in setting parameters around governance, voting structures, deploying capital seamlessly while being tax compliant and regulatory compliant.
Product Dials
This section discusses product dials which are everyday companies that hire people to build products and services. It also highlights how Gitcoin's decentralized grant program advances public goods through hackathons.
Everyday Companies
- Product dials are everyday companies that hire people to build products and services.
- Bitcoin is an example of a marketplace where developers come together to advance public goods through grants programs.
- Chains projects protocols sponsor various grants initiatives like Uniswap's $2M grants program hosted on Gitcoin's decentralized grant program.
Building a Decentralized Protocol
- Designing and building a decentralized protocol requires significant coordination effort from marketing to product design, user experience, and operations.
- Each individual steward within the DAO evaluates proposals submitted by individuals for budget allocation.
[CUTOFF_LIMIT]