Talking about hDAO: a summary of the key points
by @Diane Drubay
The topic of our last meeting was the HDAO: what it is, how it is being collected and used, and what are the potential evolutions for it. With the help of @quasimondo, @unblockgallery, @ScrillaVentura and @hicetnunc2000 and some fiftly online participants, some great insights and ideas have been shared, and even some good next steps!
A good and communal use of the HDAOs
So, it is good to remind people that those who came on hic et nunc in the first 45 days could collect hDAO by minting, swapping and buying NFTs (and if you still wonder what hDAO means, click here).
“The hDAO are being used as social tokens. The idea was to distribute HDAOs for the artist, the buyer and a bit for the platform each time an interaction happens on hic et nunc.” cit. Rafael Lima (founder of Hic et Nunc).
Today, now that the hDAOs have been distributed, they can be used to upvote an artwork so it is highlighted in the discovery / homepage of hic et nunc.
In the future, hDAO could be used for so many different things such as setting-up galleries, support foundations, mint higher definition, holding auctions, and more. HDAO could also be a way to implement a communal voting system as well as communal benefits.
On top of these possible new features and a new tool for flat governance, we should not forget the financial side of hDAO, for instance, as storage of value via token farming.
hDAO is now swappable! Since it has value, people are seeing huge opportunities for financial profit. For this reason we need to be careful and distribute it with locks to avoid wash trading.
But to start with, we need to be sure the infrastructural costs are well covered by the users of hic et nunc. The costs of the servers are currently being covered by the 2.5% fee, but hDAO could enable autonomous services to pay these future costs.
Also, today, one of the main concerns is how to distribute to the community who are helping hic et nunc. The same topic has been raised on Twitter earlier in the day through this tweet by Toxi. There, he basically suggested redistributing HDAO to OS projects like p5.
“You built something, you receive a bounty.”
The idea is to use splitting contracts to enable part of the 2,5% fee to go towards the developers and the team behind hic et nunc. Another idea has been to distribute bounties to people who developed what the community voted for.
We could “open a list of things we would like to build on hic et nunc to the full community and let people vote”. This could allow a non toxic work environment.
Quid of the services-based work here!
Care for the team
The discussion highlighted one of the dangers of decentralization around the health of the team as it can be highly overwhelming. Of course, we need the working process to stay creative and agile but we should also avoid the small team to burn-out.
Shall we think about building a HN metaverse and allow people to buy land on this metaverse via hDAO?
“We just need to prioritize the backlog, and recruit more developers. Have regular standups”
The team needs to grow but some key skills and expertise are currently missing and putting the development of the platform at risk.
This meetup made clear that today hic et nunc acts as a laboratory open for people to contribute and collaborate. It is a subtle mix of a crypto lab, an art lab, a social lab and a NFTart lab. Let’s stay connected!
Check this book quoted by Rafael if you are curious about learning more on some of the aspects he mentioned in the Livestream: