People tend to join communities to facilitate task execution and simplify their lives. And even though we all used to build top-down hierarchies, choosing just one or a small group of governors, there is one big problem with such an approach - these hierarchies contain concentrated points of failure as individual rulers could make mistakes. Another problem with decentralization is that when you give everyone a voice, things tend to get very noisy and ineffective.
DAOstack seeks to address these challenges of decentralized governance and create the interface for a next-generation Internet of Work. It will enable a crowd to self-organize easily, make fast collective decisions, and co-operate globally around any goal and at any scale while maintaining efficiency.
The team behind the project has created a blockchain-based operating system for decentralized coordination designed for DAOs, or decentralized autonomous organizations. DAOstack aims to provide decentralized companies, funds and markets with a solid framework and numerous tools for their creation, governance, decision-making and collaborative assets management. The system will facilitate collaboration around any goal, with rewards distributed according to the value contributed.
“The first principle of designing the DAO stack was not to build a specific protocol or a specific application, but rather to build the soil, the ground from which a whole ecosystem can grow and thrive,” said Matan Field, the CEO and architect of the project.
Josh Zemel, Communication Director of DAOstack, adds in an article explaining the project: "The first application being built on the stack is Alchemy, an intuitive user interface for budgeting and resource allocation for decentralized organizations,"
"With Alchemy, anyone will be able to create a DAO in a few clicks, create an ERC20 cryptotoken if desired, and invite others to participate in a hub of decision-making and talent-sharing.”
DAOstack ICO details
The project aims to raise $30 million by offering GEN tokens, which operate on the Ethereum blockchain. The tokens will be directly related to the usage of the platform and distributed to creators of value on the network. A prediction market running on GEN will also help each DAO to prioritize its most important proposals.
The total supply of GEN tokens is limited to 60 million, with 66.67% of them available for sale and distribution in the ICO.
For more DAOstack details, you can visit the official website, watch their short film, or follow the project on Twitter and Telegram. Their whitelist is open and their presale begins Apr 30/May 1.
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