Read us in Chinese!
Your friendly neighborhood Writers Guild lead here, dropping by to share a few monumental Developer DAO updates and a couple unsolicited opinions. 🤝
The $CODE Token
Developer DAO’s governance token, $CODE, is now deployed!
The intention of the token is to provide a way to scale membership in the DAO and reward contributors with greater governance of the DAO.
Of particular importance: entry into the DAO can now be gained by holding 400 $CODE tokens OR the Genesis NFT, but governance rights have pivoted over to the $CODE token, exclusively.
35% of the token supply is available to claim by early contributors and by members included in the snapshot. For more context on distribution details, eligibility, and how to claim tokens, see this blog post.
Launch Day Twitter Space
Members celebrated launch day on a Twitter Space by retelling the Developer DAO story, giving some love to contributors of Season 0, and laying out the next steps as the community moves into Season 1. The recording is available here:
A deeper dive into Season 1 initiatives will be the focus of an upcoming Twitter Space. Follow @developer_dao and set your reminder once that’s scheduled!
Season 1
The launch of the $CODE token marks the first day of Season 1!
Leading up to Season 1, guilds and projects submitted budget applications in order to define their goals, demonstrate alignment with the DAO mission, and request tokens to reward essential tasks and roles. With few exceptions, budgets are denominated in $CODE. Later in Season 1, some bounties will be made public, allowing non-members to earn their way in.
A common question around the token launch: “Does Developer DAO have a roadmap?” The result of our budgeting process for each Season is our version of a roadmap — a grassroots effort driven by passionate individuals committed and ready to champion their ideas.
To learn more about Season 1 and see a list of initiatives, see the Season 1 Launch post.
Parting Thoughts
I have no illusions that a governance token is a panacea for all challenges in a DAO, but it is a tool that can be leveraged to move Developer DAO into its next phase of growth. “Progressive decentralization” is a popular idea in our community and safeguards will remain in place to prevent obvious governance takeover attempts in the short term. Happily, members of the Governance Guild have already been thinking and chatting about future iterations of governance, whether that includes quadratic voting, “Soulbound” NFTs, or other mechanisms.
In the meantime, $CODE tokens will rightfully end up in the hands of members who’ve invested huge amounts of time and energy into the organization and many more are set aside for scholarship programs. I’m massively excited by the potential unlocked and what’s to come for Developer DAO.
lfg.