DAOs On Tezos
Let’s take a look at some of the DAOs that are already live on Tezos or will be in the near future.
950 words, 5 minute read
While there are still challenges to overcome, DAOs have gained significant attention and traction in the blockchain and cryptocurrency space due to their potential to revolutionize traditional organizational structures. They offer a decentralized approach to decision-making, enabling participants to collectively govern and manage various aspects of a project or community.
We are still in the infancy of pushing the boundaries with DAOs and their capabilities. With participants actively contributing their skills, knowledge, and resources, DAOs can tap into a diverse range of expertise and accelerate problem-solving. Additionally, DAOs provide opportunities for crowdfunding and decentralized funding mechanisms, enabling projects to secure financial support from a global community that support the same idea as the DAO.
With all that in mind, let’s take a look at some of the DAOs that are already live on Tezos or will be in the near future.
Some Notable DAOs on Tezos #
Youves, which has been one of the most successful Defi platforms on Tezos, allows its users to create and manage synthetic assets like uBTC, uUSD, uXTZ etc.
Recently, Youves transitioned from a multisig to a more decentralized governance system by deploying their DAO contracts and now YOU (Youves’ governance token) holders can submit and vote on proposals to shape the future of the platform.
Kolibri is the first decentralized autonomous organization built on the Tezos blockchain and it allows users to deposit Tezos (XTZ) as collateral and mint a stablecoin called kUSD. The main purpose of Kolibri DAO is to provide a decentralized and censorship-resistant stablecoin for the Tezos ecosystem. The DAO is governed by the kDAO token holders and since its inception there have been 46 proposals submitted and voted on!
The Tezos Ecosystem DAO that launched less than a month ago using the Homebase platform is a proof of concept of alternative sources of funding for the Tezos ecosystem.
In its current -first- iteration, it is governed by a three out of five multisig quorum setup with keys currently held by Tezos Commons Foundation, Tezos Domains, Trilitech, Tezos India and Tezos Foundation. The plan is for this governance structure to evolve over time by adding more Tezos ecosystem entities, giving the community a way to more directly participate, and/or giving bakers a way to participate using their stake. There are also plans for more sources of funding for its treasury in the future. There are going to be more improvements along the way, but as a reminder, the DAO is learning how to crawl before learning how to walk and then run. Yes, there will be hiccups here and there, but the idea is to experiment and show the viability of DAOs on Tezos through Homebase.
On Tezos, even meme coins have utility and the Tezos Pepe DAO is a great example of that. Out of nowhere and in a short amount of time, the community of Tezos Pepe created a DAO with a treasury using the Homebase platform, launched an NFT marketplace, lottery games/raffles and a new user interface for the Spicyswap DEX. All of this is utilizing the Tezos Pepe token which is also the governance token of the DAO.
Upcoming DAOs #
- TEIA DAO
One of the most iconic NFT platforms on Tezos, “Teia.art”, which is also the continuation of the famous Hic Et Nunc NFT marketplace, has announced their registration as a non-profit DAO LLC incorporated in the Republic of Marshall Islands back in March. Since that announcement they have also collected snapshots and announced the addresses to which the governance tokens will be distributed to. For more information on that you can check their latest blog post.
Although Teia is already a community driven platform with proposals submitted and voted by the community, these recent developments bring it closer to the deployment of their fully decentralized DAO contracts that will be governed by the Teia DAO token.
One of the most anticipated DAOs on the Tezos blockchain seems to be getting closer to becoming a reality. According to the team’s most recent announcement on Twitter, the Tezos Domains governance token and vesting contracts have successfully gone through audits, which brings the Tezos Domains DAO one step closer. Once the TED token gets distributed and the DAO contracts deployed, Tezos Domains will be a fully decentralized DAO where users will be able to vote and shape the future of the Tezos Domains platform. The Tezos Domains DAO is expected to utilize the Homebase platform.
As I mentioned at the beginning of this article, DAOs are still in their infancy and while numerous challenges still exist, the fact that we have so many examples of DAOs being deployed and managed by their communities is a positive outlook on the future of DAOs as a concept, especially on Tezos.
It’s also important to note that the tooling for creating and managing a DAO on Tezos has never been easier and the experience has greatly improved in the last year. The Homebase platform that many of the DAOs mentioned above used for their projects has come a long way and keeps improving. If you are also interested in easily deploying and managing a DAO, make sure to check out our recent article that highlights all the cool new features that have been added.
On top of that, we at Tezos Commons are always looking for new, noteworthy Homebase DAOs to kickstart their funding through our Community Rewards Program!