Git DAO

Git DAO

New way to fund open source through instant DAOification of open source projects to enable a different way to monetize your open source project.

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Last updated: 24 September 2022 08:57 PM

fix: Typos

The problem Git DAO solves

If you start looking at different ways to monetize open source projects you'll come across two things first one being generic sponsorship and the other one being dual licensing which gives your project a different license for commercial use.

Git DAO aims to solve this problem by giving a platform, where you can create DAO for your open source project with a few clicks with a token that can be distributed among contributors and project owners.

In the future, if some entity wants to invest in the project we'll do an IDO that will result in giving the token inherent value.

How does Git DAO work?

  • Project owners can come to our platform, and they can create a DAO with a token with a few clicks specifically designed for their open source project. A certain percentage of tokens will be held by the project owner, and the rest will be stored in the DAO treasury and can be distributed among contributors.

  • Then let's say some company X uses your project in production and they are facing some scaling issue, so they'll come to your platform and raise the issue and prioritize the feature or bug they can buy tokens.

  • When they buy tokens they go through a process of IDO (initial DEX offering) or maybe some other way like ICO, which will help us add liquidity on the DEX for your DAO token and give it inherent value.

  • Another reason for holding your DAO token is speculation, people who think that this project can be big in the future like the Linux kernel can also buy/invest in tokens from your DAO to speculate on the future price of the token.

  • Although the actual mechanics are still a work in progress and I'm open to brainstorming on what should be the right way to incentivize the project / DAO.

  • And not to mention the community aspect that DAO brings to the project.

Challenges I ran into

Figuring out the openzeppelin's governance contracts.

Since I wanted to use a matured DAO which is compatible with other DAO toolings like Snapshot I can't write my own DAO. The challenge I ran into was really little to no documentation around the openzeppelin's DAO contracts but after dabbling into multiple places I was able to figure out how it works.

Technologies used

Discussion