It’s Time to DAO on Stellar
One goal of The JPEG DAO is to stimulate DAO culture and tool growth on Stellar. And it’s working :) Let’s jump right into the tools and processes we are using that can serve as a template from other Stellar-based DAOs.
This is a service for decentralized voting and decision-making. When we first starting using InstantDAO, the only option was 1 token = 1 vote. After providing feedback to the development team, an option was added where 1 public key with a minimum number of tokens = 1 vote. This makes more sense for young DAOs with a limited number of token holders.
This is a great tool for tipping DAO contributors on Discord channels. Contributors can be tipped in XLM or, in our case, JPEG. Our DAO, and many Ethereum-based ones, use Discord for collaboration. Tipping is not only motivating, it reinforces a tipping culture.
Token funds need to be safely managed by groups of individuals that, in many cases, barely know each other. We utilize Lobstr and Lobstr Vault to hold funds. For example, our Marketing Committee has 1 Lobstr user with 4 Lobstr Vault users attached as additional signers. We set the signing parameter to 3 of 5. This means anytime we want to move funds out of the marketing fund, 3 of the 5 entrusted users must sign the transaction.
So What’s next?
Decentralized automatically routed payments with TSS would be amazing! Tying all these tools together would also be helpful. Imagine the compensation committee is requesting to send 1,000,000 JPEG to a developer. The compensation team creates a poll on InstantDAO to determine if the members approve this. The members vote to approve via Crypto Link and JPEG tokens are automatically routed to the developer. This is true decentralized governance! *It also doesn’t exist yet, but we are working on it :)
