Ensuring Accountability and Advancing Decentralization: A Proposal for Shib's DAO Evolution and Fund Allocation for partner funds
It is not everyday I explain the thought process behind why we have done certain things but when people misconstrue, then it is important to set the record straight, enlighten past shadows, and show the path forward that is as it has always been, paved with the truth of decentralization.
WHAT SEEMED LIKE AGES AGO
I proposed a Breed System. This was an initial concept that would later grow into our quad dao system. So what changed? Quickly I learned that while many DAOs are powerful and can do many great things, there are a few issues that, if mitigated, will increase the likelihood of our success.
- Shib's Dao needs a certain level of RESPONSIBILITY :
BUT WHY? Easy, as you see as you read further into story time, much to easy rogue actors can hide behind terms like “community” and use funds to push rug projects onto our beloved Shib Army. It would seem, most protocols couldn't give two shakes of a shadowcats tail about this issue and have no choice but to let smart rich rugtastic people create platforms that slowly move winnings from unsuspecting hopefuls to the top 1%. Isn't this EXACTLY what we are standing against? Just pick your favorite rugtastic protocol and see the % of rugs promoted as Memes and unfortunately, our success, which is driven by a true north star of building a future state, drives some to believe others with the Shib name or without, on other chains, or our own, will achieve the same success. This is unlikely, but, unlike Shib, many of these projects have billion dollar bags that make pumping anything easy… so pick your poison.
For us, a truly decentralized system with a dev team that often must pay into development, a new approach was needed. Especially if we are to onboard the next billion users. Let's talk about this…
But before we do a side note: Please stop associating me with any project that works with anyone I know or used to work with. That's like telling everyone to trust your ex. Projects will do anything to gain spotlight and use common sense to figure what to trust and what not to. This is the perfect segway into my next point.
- A BILLION USERS WON'T STAY WHERE THEY CONSTANTLY GET RUGGED
This concept seems simple, but it goes alongside the first statement. If people wont stay where they constantly get rugged, and even current whales and “KOLs” are feeling this, AND even large exchanges can be places of total loss, how do you create a system that actually protects TEH PEOPLE?
So we got to work. That was well over 2 years ago. Let me explain the development process so it is clear.
Year 1 : During the first year we, through our experience with Shadowcats, REALIZED THE NEED, of a system that was not only robust, but also distributed more than decisions to the community. It is more important that the actions therein result in in real world Karma, Reputation, and Competency (KRC). This could, in essence, be the benchmark for a variety of other interwoven technologies. In fact, KRC can not stand alone in a DAO or we go down the path of social credit systems. It must be anchored in Self-Sovereign Identity, so users own their data, with the option for Fully Homomorphic Encryption, so users know their private and sensitive data is secure. Now combined, we have a blueprint for all types of powerful tools that can ensure that scammers can't keep doing scammy things.
I laid this out quietly in the Shib paper. Notice therein I said that there would be two types of people: Shibizens who utilize the technology, and the equivalent of Tourists. It was my belief that this distinction, when combined with KRC, would achieve what all nations are trying to achieve: a system that gives warning to those who may interact with individuals, while also giving a certain level of data autonomy to the users, AND while being compliant to web2 governments.
This is a nobel level achievement and like many things I have done for Shib, primarily went unnoticed (and sadly under valued). No matter, we pushed forward after the release of the Shib paper.
Year 2: In year two we set out to build these things: protocols, systems, concepts, white papers and a host of other technologies that will serve as the backbone to our decentralized society. This required PH.D. involvement and vast tokenomic modeling to ensure we wouldn't break our system.
And… Right as we approached the ending of this mammoth task, an old fren had the nerve to decide, on his own, to move funds intended and publicly benchmarked to the DAO.
Therefore, and to showcase the vast improvement of V1 of our Dao to what is V2, I am calling a DAO vote immediately, using our old system. Note: Since we introduced the full voting system we will also allow Shib voting on this proposal as Shib is the community token. So voters can use SHIB OR BONE.
Moreover, papers explaining the Karma and Reputation system alongside our V2 Voting system will be released later so that you all can see our progress in design and also decide how funds are utilized. Please also note, we will use current AND past work of our future SHIBIZENS to create this KRC and yes, you are now in the driver's seat.
It surely does not exist, but even if a bit of truth lies in the wallet holder in question, the DAO's decision of how funds should be used will be valid and followed.
Funds in question: 37.5 Eth
Wallet address: 0x13C38cb1aB84279a98103bB39284edf83f273301
I propose that the funds therein be allocated using these options.
CHOICES:
CHOICE 1: Funds are escrowed into a new multisig that would include the following individuals who would Publicly have one vote and are only authorized to use the funds as the dao sees fit. LC, GOSSIP Shib, and Kaal Dhairya, Shytoshi Kusama and an appointed signer chosen by vote by the DAO. These funds will go to a secondary vote for what can be done where the community can submit choices therein, and then the signers agree to execute as decided upon without regard to decision.
CHOICE 2: The funds are fully burnt to Shib.
CHOICE 3: The funds are allocated to community projects of choice by the wallet holder without regard to a vote of the community.
CHOICE 4: Wallet owner keep the funds and stops fudding the entire ecosystem
Please note this vote will begin on August 31st and end September 4th. Execution thereof based on the vote therein will be executed no later than September 30th 2024.
I implore you to not only vote in this decision, but also to review our upcoming whitepaper on the advancement from V1 to V2 of our DAO system.