💫DAO & Governance
As a pure Web3 enterprise, we prioritize community but do not immediately decentralize. We align with A16z's "Progressive decentralization" proposed approach.
So we're "Proto-DAO"
The community is paramount to CHIC, its significance possibly surpassing company incorporation. We have established a Governance Committee as part of community governance, and not everyone can enter this committee. Elected members of the Governance Committee have the authority to propose, vote, and veto "CIPs (CHIC Improvement Proposals)" for the community. Please note that it's now 2024. Community members minting NFTs do not imply ownership of equity, and joining the Governance Committee does not confer "corporate governance voting rights." Please separate decentralized community from the company.
Note: The application token doubles up as a governance token, which is one of the reasons why token transfers are restricted. In order to prevent conflicts and safeguard the governance authority of the governing body, elected members will act as "representatives" to voice the concerns of the community.
Representatives have the authority to question CIP proposals on behalf of the community. In cases of conflicts between the development team and the governance committee, representatives can serve as third-party mediators. OGs in CHIC also hold crucial speaking rights. CHIC resembles more of a community-driven world than a purely MMORPG; it requires everyone to be willing to contribute to the autonomous world.
This means that DAO is passive in terms of efficiency, and from an execution standpoint, Web3 communities are considered impractical. Therefore, CHIC has adopted the "representative system" proposed by Web3 experts to appoint "representatives" as third parties, allowing OG to assist CM.
In terms of ecosystem, CHIC leverages Dove AI to overcome the limitations of text. Players can collaborate with the development team to establish the autonomous world and generate more stories or characters specific to the players. The content created by players will be stored in the Dove AI database + blockchain, making it part of the history of the autonomous world. The ecosystem will be eternal: this is the foundation of an infinite game.
For Web3 startups, the primary goal initially is product/market fit.
The early stages of building decentralized applications require all the elements typically needed for a normal startup: a strong team, lean development, rigorous execution, and rapid learning. At this stage, the focus solely on product/market fit is crucial. To expedite finding it, it's important to avoid committee (or community) design. Product needs strong leadership to test hypotheses and iterate quickly (this phase could be termed as centralized).
Web3 startups add a second goal relative to other industries: community participation.
Early signs of product traction — growing user base, developer ecosystem, and network effects — signal it's time to start investing more cycles in fostering passive users, more active contributors, and harmonious core teams.
For core teams, relinquishing control means an opportunity to begin shifting responsibility to the community.
However, as community members are attracted, reassessing incentives is crucial. (At this stage, you can start thinking about entering Web2.5.)
Teams may test the release with community members and managed and approved members. Many teams choose to achieve this goal by setting aside some future tokens for early "power" contributors, for example, through test network plans where independent community members can register to participate in node operations. Commitment and token allocation for valuable work of the community can help reduce reliance on the efforts of the founding team.
The final step in the journey towards full decentralization: widespread token distribution. (At this stage, it can be defined as formally entering Web3.)
The team will execute token distributions according to plans established in earlier goals, utilizing token airdrops to users and contributors to "decentralize ownership." This occurs when smart contracts are triggered to mint and distribute tokens. Ideally, this function triggers several outcomes:
The core team relinquishes majority ownership and control of the application, reducing platform risks by ensuring community ownership and operation.
Given that the autonomous world is sufficiently decentralized now, efforts independent of a single entity with potential asymmetric information, the token may have transitioned into a non-security.
The company is sustainable, retaining sufficient tokens to benefit from costs and growth.
Users as owners achieve increasing returns to scale, facilitated by a collaborative economy that better coordinates and increases value (defined by users, not shareholders).
The spirit of this goal marks a specific moment in the journey of a cryptographic product company from traditional product teams to sustainable community ownership and operation of networks.
Note: Token distribution always requires careful legal scrutiny!
I believe this should comprehensively explain the concepts of "staged" and "whether this is 2.5."
Our DAO attributes are: SOCIAL
Built around communities with shared interests, hobbies, or missions, social DAOs focus on creating value and experiences for their members, ranging from virtual events to real-world meetups. These DAOs often prioritize community bonding and shared experiences over profit.
Your role is created by you, your assets are owned by you, your story is written by you, and your world is governed by you; this is true autonomy. We simply develop the "framework" for players.
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