🏛️ DAO’n For the Cause: $crDAO Governance On Homebase 🏛️
Current As of 7 Mar 2022
This Is Not Financial Advice
Since the launch of Crunchy.Network and the creation of the $crDAO token, the goal has always been to work towards a decentralized platform where the people have the power…and the perks! $crDAO was designed to not only operate as the tool for governance actions on Crunchy, but was also designed to reward those who take part in the governance of its actions. With Crunchy coming up on its one-year anniversary, we are starting to see it all come together!
🗳️ Dabbling In the DAO🗳️
At the end of November we took our first step towards integrating a voting mechanism into the $crDAO structure by creating our #dao-general Discord channel for our $crDAO holders. This became a hub for conversation revolving around the DAO aspect of Crunchy and the best way forward. There were proposals drafted, voted upon, and carried out within the last few months, showing that the community and the platform are ready for the next level; the utilization of a more structured DAO system. For this, we chose to go with Homebase.
⚖️ Governance At A Glance: A “Common” Goal ⚖️
Homebase is the first “DAO Hub” on Tezos. It is still in its early stages, but is quickly proving to be the premier DAO platform for the blockchain. Created by one of the best teams in the ecosystem with Tezos Commons, the application is an open-source tool that allows projects and teams to host their governance actions. The Crunchy team has been testing the site for roughly a month and we have found that it checks the boxes we needed it to from a treasury perspective. One particular facet we enjoyed about testing this application is that the TC team loves feedback and has been open, willing and hungry to further advance the functionality of the product. They have been quick to respond, professional and deliberate towards making this tool not only easier for us to use, but to make it so it operates more fluidly for any team looking to use it.
TC has emphasized one thing heavily with us, and that is the fact that they would love feedback from you, our Crunchy Governors as well throughout this process. By working with Crunchy and our community, the hope is to also have some additional inputs towards the Homebase tool. Crunchy boasts some of the most seasoned veterans on the Tezos blockchain and both teams know that our members have great input to give! While you work with us to test the $crDAO model on Homebase, we ask that you also provide any sort of feedback to the Tezos Commons team you feel could advance the platform! They have a Discord they have open for all such inquiries here.
🛣️ So What’s DAO’n the Road? 🛣️
With a few successful voting actions already taking place and the great interaction and testing thus far on Homebase, we believe it’s time to transition to the next level our governance model which involves moving our voting process for the Treasury to Homebase. Here is how we envision it:
- We will move Treasury holdings to one account to be managed on Homebase
- If Homebase does not fit the need for our Crunchy Governors then there can always be governance measures enacted to alter how/where governance could better operate
- As Homebase and our governance model builds out we will always focus on one thing and that is ensuring that the process is fair, sensible and appropriate (our community is a huge deciding factor on this)
We plan to have funds moved to the Treasury by the 8th of March.
Recently completed was the buy back and burn contract. This contract is critical for future products like the pie slicer, as well as current products like the IFO. When $XTZ fees are deposited into this contract it automatically does two things:
- Deposits half of the $XTZ in the Crunchy Treasury
- The contract takes the other half of the $XTZ and buys an equivalent amount of $CRUNCH, on Quipuswap, that is immediately burned in the Fire Pit.”
The buy back and burn contract can be found here: KT1MmRuzS2ji8W5t76RpvSE1RocSLZrzQaqY
🌮 We Feed on Feedback 🌮
As we are still young in the governance concept of Crunchy, we know there will be hiccups, changes and, we hope, tons of feedback. Feedback is very necessary to build this out right. Every successful endeavor is built on diverse inputs, experiences and values. We at Crunchy know that. As we build this out we want/need our Governors to be open, constructive and critical of how everything plays out. Decisions should never solely be made on profit, as that is not the main goal of Crunchy. Any community that builds that way significantly decreases its chances of success. Our goals, both as the team and our community should be to build a product that is a cornerstone for Tezos and DeFi as a whole across the entire crypto sphere. By doing this the rest falls into place. There are not many DAOs in existence that operate correctly nor efficiently, but we think we have a strong foundation that can change that right here on Crunchy!
Tezos Commons Links