At 20:00 on December 20, 2022, the latest informal YouTalk column of the EOS Network Foundation was launched. This event focuses on the topic "2023: DAO Summer is coming as promised?"
DAO (Decentralized Autonomous Organization) is called decentralized autonomous organization in Chinese. The use cases for DAOs are endless and still evolving, so we tried to use this event to further clarify the fundamentals of DAOs, understand how they differ from traditional organizations, and provide information on how to get involved with this revolutionary wave of DAOs. guidance.
We are also very fortunate to have invited 4 guests to this event, they are:
ENF Asia Community Advisor (EOS Network Foundation Asia Advisor) Myra
OceanPark CSO Kevin
Twitter KOL Vivian
RealResearchDAO founder LittlePoint
This article is a review of the highlights of this AMA event, and the content has been edited.
Self-introduction session
First, I would like to invite 4 guests to introduce themselves to you.
Myra：
Hello everyone, I am Myra Wang, Asia Community Advisor of the EOS Network Foundation. In terms of integrated marketing and post-investment services, I have more than 10 years of experience in corporate consulting and key account management. I have led the founding of 4 Internet technology companies. and blockchain-related enterprises, the cumulative number of users exceeded 2 million+, and the number of visits exceeded 10 million+.
In addition, I came into contact with and entered the blockchain industry in 2016. I have been following and operating and incubating multiple DeFi, NFT, DAO autonomy, Web 3.0 and other projects for a long time. For EOS, I can be said to be one of the earliest seed users of EOS. , from 2017 to now, I have been active in the EOS Chinese and English communities, conveyed ecological ideas in Chinese and English, and witnessed the growth of EOS. I sincerely hope that the EOS ecosystem will get better and better under the leadership of the EOS Network Foundation, which is also very important. So happy to be a part of tonight's event.
Kevin：
Hello everyone, I am Kevin from OceanPark. I am very happy to be invited to participate in tonight's event. OceanPark is a Web3 traffic platform. We are committed to introducing billions of Web2 users into the Web3 world. Our first version is currently released on Aptos. , currently ranks first in the number of users in all Aptos ecosystems. I hope everyone can pay more attention to it in the future.
Vivian:
Good evening everyone, I am Vivian, a Crypto native on Twitter. I am very optimistic about the future development of Crypto and am very actively involved in the construction of the Crypto industry. I am very happy to take this opportunity to communicate and share with you today.
Little Point：
Hello everyone, I am LittlePoint, the founder of RealResearchDAO. RealResearchDAO has been focusing on various research in the industry to help more users, whether Web2 or Web3, understand the Crypto industry. Our business also involves the Bybit game sector, attracting more Web2 users to enter Web3 , bringing more incremental users to Web3, thank you all.
Q&A sharing session
Question one:
What is the spirit of DAO? Are there any specific application scenarios or personal experiences that made you deeply feel the power of DAO?
Myra：
In my opinion, the DAO spirit specifically refers to: people-oriented. Treat every community participant as the most important member. The value of Web3 is reflected in "consensus". The carrier of consensus is in the community. We are connected around relevant interests and connected through DAO. Compared with Web2, community/community is a more important infrastructure of Web3, so I think DAO is very important for the development of Web3.
In addition, everyone may know that the DAO concept was first proposed by BM, the founder of EOS. After several years of development, DAO has blossomed in the crypto world in various forms. Therefore, DAO is inextricably linked to the EOS ecology. As a member of the EOS Network Foundation, the event that made me feel the power of DAO the most was in December 2021, when the EOS Network Foundation announced the "fire" of Block.one to develop independently.
Let’s take the timeline back to June 2018, when Block.one launched the EOS blockchain network after raising $4.1 billion in an ICO. As an absolute star project in 2018, the EOS network carries labels such as "Blockchain 3.0" and "Ethereum Killer". The super node election is vigorous and the industry is enthusiastic. However, due to Block.one's inaction, the development of the EOS network, which originally had many advantages such as zero handling fees and high TPS, has come to a standstill.
In November 2021, due to Block.one's long-term inaction, EOS nodes, currency holders, and ecological participants launched multiple rounds of negotiations with Block.one under the leadership of the EOS Network Foundation. On December 8, 2021, Block.one did not respond within the agreed time. More than 20 top-ranked BPs decided through multi-signature voting that the EOS network would no longer release tokens from the eosio.stake account to Block.one. With the consensus of all parties in the EOS ecosystem, Block.one, which had dominated EOS for 4 years, was "fired". This not only fully demonstrated the charm of blockchain decentralization, but also reflected the EOS ecosystem as a decentralized autonomy. The awakening of community.
And we can clearly see that after leaving Block.one, the EOS ecosystem has indeed regained its vitality. It not only has various ecological funding plans, such as the secondary crowdfunding platform Pomelo, the EOS Network Foundation direct funding plan, but also The Yield+ incentive plan for the development of DeFi, the EOS EVM compatible project Trust EVM, and the Antelope Alliance dedicated to continuously optimizing network performance, etc., the ecosystem is thriving.
This bottom-up and massive EOS DAO governance attempt has attracted widespread attention in the blockchain industry. This is also an attempt that I think best embodies the spirit and power of DAO. The EOS ecosystem holds the future in its own hands through DAO.
Kevin：
I think that the consensus mechanism of the blockchain itself is a kind of DAO, so the birth of Bitcoin can also be said to be the birth of the first DAO. Furthermore, I think the value of Bitcoin is the best embodiment of the power of DAO. .
Question two:
The Web3 wave is unstoppable. What role can DAO play in it?
Vivian:
Let me first talk about my personal understanding of DAO: I think DAO is a sovereign individual. Our moral relationship is no longer the subordinate relationship of "ruling and being ruled" and "exploiting and being exploited" in the past, but a cooperative one. Spirit of Contract.
Next, I want to talk about the role of DAO in Web3: I think DAO is the infrastructure of Web3. For example, after the Black Death in the Middle Ages, the Netherlands and England developed a bottom-up urban autonomous civilization. The core of this system was the spirit of contract and the confirmation of property rights, which ultimately promoted the outbreak of the Industrial Revolution. By extension, our confirmation of digital assets and the combination with DAO governance are the core of Web3 as I understand them. Under this model, everyone's potential and ideas will be further stimulated, which may promote the next explosion of productivity.
What should that person look like in Web3? I believe that everyone must first have a sovereign individual spirit and consciousness, and first be responsible for their own property. Secondly, we should actively participate in the co-construction of the community and become a very important node to further amplify the meaning of decentralization. This is what I believe Thank you for your understanding.
Little Point：
In the Crypto industry, what everyone actually admires more is the spirit advocated by DAO and the collaborative relationship between everyone. We also often cooperate with many DAOs. In fact, one of the most obvious things about DAOs is that DAOs can help everyone achieve better results. In addition, at this stage, everyone actually does not pay special attention to the short-term visual benefits of DAO, which also promotes everyone to pursue their goals more purely. For example, we started doing market investment research at the beginning of the year, and we also came into contact with many like-minded friends, and the research is also Do more in-depth research in finance and mathematical models. At present, I think the atmosphere of DAO is very good, thank you all.
Question three:
What do you think of ChatGPT, which has become popular around the world recently? Can there be more sparks between DAO and ChatGPT?
Kevin：
There is no doubt that ChatGPT is one of the hottest AI projects recently, showing everyone the infinite possibilities of artificial intelligence. But as far as OpenAI itself is concerned, there are not many integration points between it and DAO, but artificial intelligence and DAO have a lot of room for imagination.
I think one of the most important scenarios is "agent governance": everyone knows that DAO originates from the decentralized idea of the blockchain. In essence, the consensus mechanism of the blockchain is a kind of DAO, but currently the blockchain There are thousands of transactions every second on the Internet, and nodes must be elected every few seconds. It is impossible for a human to vote and express opinions on every process that requires consensus voting, so currently everyone uses comparison The simple and crude strategy is to either give up the right to vote, or to unconditionally trust a node for a long time and follow its voting results.
But can this really guarantee that every vote represents our own wishes and interests? The answer is definitely no, so when artificial intelligence develops to a certain level, everyone can train an AI algorithm that suits their own interests and wishes. People cannot express their opinions on every transaction on the chain in real time, but AI can.
With the development of blockchain and DAO, there will be a large number of on-chain and off-chain governance in the future, so "agent governance" can make governance more efficient and better reflect the actual interests and wishes of participants.
Vivian:
I have also thought about this problem before: If everyone participates in DAO governance, everyone's cognition will actually be uneven. Then this will form a relatively primitive question, how to prevent evildoing? But it is even more difficult to get everyone to raise their awareness. Human nature has other sides such as greed. In the DAO governance process, the problem we are currently facing is that it is difficult for us to achieve a scientific and reasonable governance vote efficiently.
At this time, AI-assisted governance becomes very necessary. The existence of AI and the development of AI technology can help us implement and judge some rules, thereby helping us achieve our ideal DAO governance process. I think AI may become a very important tool in the DAO governance process in the future.
In addition, regarding ChatGPT, I think it is also a very sensitive and easy-to-use tool. Many self-media authors can use AI as an auxiliary tool to do some work such as article polishing, title reference, and idea organization.
Question four:
The security issues brought about by DAO governance have always attracted community attention: hackers will obtain a large number of governance tokens through attacks and use DAO to do evil. For example, the stable currency protocol Beanstalk has suffered from this type of attack. But sometimes, the community will also use DAO to resist hacker attacks. Facing the security issues caused by DAO governance attacks, what measures do we take?
Myra：
There have been hacker attacks on EOS before, and I have personally experienced them. I think this issue is very suitable for the EOS ecosystem, and can also well demonstrate the value of some of the things the EOS Network Foundation is currently doing.
We know that EOS uses the Delegated Proof of Stake (DPoS) consensus mechanism, which enables the network to leverage its own unique DAO governance system to provide a higher level of security and stability to its users. EOS's DPoS governance system has good potential in the face of hacking incidents, and under a reasonable governance framework, the EOS community and block-producing nodes can minimize the impact of hacking attacks on the network and protocols on the network, while avoiding excessive governance technical and ethical issues caused.
Based on this, the EOS Network Foundation led the establishment of the Recover+ working group and launched the Recover+ portal, dedicated to solving security issues.
In real life, if a serious accident occurs, we know exactly what needs to be done, such as dialing 110, 120 and other emergency service numbers. But what if your smart contract or DApp is exploited? What if hackers were stealing your assets in real time? In the world of blockchain, many project parties have no way to deal with such emergencies. Therefore, we believe that it is necessary for project parties to know what measures to take so that they can respond with ease when an emergency occurs. Therefore, the Recover+ core working group was born.
The main work content of the Recover+ working group is to provide the project party with best practices and procedures for solving problems when emergency security situations occur.
The Recover+ working group aims to create a crisis management framework for EOS. To achieve this, the framework is intended to include the development of emergency contracts, protocols, guidance (including steps to be taken in an emergency), FAQs and advice on who to contact for help and support immediately after a breach. For example, when a hacker attack occurs, how should the project team quickly contact the super nodes to reach a consensus to block the account to protect the stolen assets. Additionally, some additional recommendations from Recover+ include DAO insurance and potential rewards to help EOS parties respond more effectively to lost or stolen assets.
In the specific practice process, Recover+ has also effectively helped multiple project parties recover their losses. This is what I think is an effective attempt to improve security capabilities through DAO.
Little Point：
I think we can first consider security issues in advance, and put some restrictions on the acquisition of tokens, community governance rights or voting rights, whether it is the community or the entire project itself, or increase voting rights or governance rights in the early stage. cost, increase difficulty, and introduce some friction.
On the other hand, the project itself can also reduce the liquidity of the token in order to protect the project itself, so that even if users hold it, they must reduce its short-term transactions, or perform some lock-up, or do some Some technical intervention, as well as the implementation of some incentive measures, are probably these two aspects.
Question five:
In your opinion, what development opportunities will DAO have in the coming year of 2023? As ordinary users, how will we participate?
Myra：
At present, DAO is still widely discussed in the small circle of Web3, but I hope to see in 2023 that the democratic governance method of DAO can be widely applied to the Web2 field, such as the property field, such as Didi Taxi, etc. , bringing more incremental users to Web3.
Kevin：
Although the era of Web3 has begun, at present, what the entire Web3 world lacks most is traffic. Without enough traffic, even the DAO ecosystem cannot develop quickly. OceanPark hopes to educate users through games and quickly We also hope to cooperate with some elite DAO organizations to provide users with better Web3 experience and education, so that Web3 can obtain more traffic. Only in this way can we promote the rapid development of Web3 and truly become the next generation of Web3. The Internet of an era.
Vivian:
We can clearly feel that even next year, our encryption industry will still be in a trough cycle. Many narratives, including DAO, have not yet found a very reliable model. In fact, everyone is experimenting, trying and groping, and then again Because of events such as FTX, traditional capital has become even more discouraged.
I think next year, as a branch of the entire large financial system, the encryption industry will most likely dance with the entire large financial system. However, at the same time, the encryption industry will also have some problems of its own, such as more black swans. emergence, and whether there will be some technical and hardware breakthroughs, etc., but of course, I am still confident in the long-term development of the encryption industry.
Little Point：
I think what we are doing now, including what many other organizations are doing, are actually doing things about the incremental market, because the prerequisite for the next market explosion is that more people must participate, so what? In this way, more people can participate. In fact, this is quite difficult.
For example, when we are working on the game sector, we are thinking: What kind of games can attract users more? Is it a small game or a large game? If it is a large-scale game, how many people can interact online at the same time? If it is a mini-game, is the mini-game itself so playable? How can traditional users participate? There are many issues involved in the entire process of obtaining traffic. Of course, there are a lot of tools now. If you can open up the traffic in this area and let more projects or people come in, then we may see the entire market slowly recover. This is what I think we The mission I want to complete next.
Conclusion
Thanks to the guests for their answers. The wonderful time is always so short. At this point, this informal talk with ENF has come to an end.
Thanks to the guests for their wonderful speeches, to everyone present for their active participation, and to the cooperative media for their strong support of this event.
In the future, the work related to the EOS Network Foundation will continue to advance at a high speed. It is expected that with the help of the EOS Network Foundation, the EOS ecosystem can open the next chapter of vigorous development.
Make an appointment for the next informal talk with ENF. See you there.
About Talk With ENF
Talk With ENF was initiated by the EOS Network Foundation with the aim of listening, communicating, and connecting blockchain communities at home and abroad. The EOS Network Foundation will occasionally invite high-quality project leaders in the blockchain industry to talk about hot topics in the field of encryption, share the development trends of encryption technology, and reveal the stories behind the encryption world. In addition, the EOS Network Foundation will prepare surprise benefits for everyone in each episode. If you actively participate in the live Q&A, you will have the opportunity to win benefits.
About the EOS Network Foundation
The EOS Network Foundation is a non-profit organization that aims to listen to the voice of the community, convey the wishes of the community and support the development of high-quality community projects, become an information sharing bridge for the EOS community, and provide funds, technology, operations, future planning, Key infrastructure support such as ecological construction further unleashes the full potential of EOS as the world's fastest governance blockchain.
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