How Do DAO Tools Help Streamline
DAOs empower individuals around the world to collaborate and allocate capital towards a common goal. This allows millions, if not billions of people to capture direct value from what they create and aligns incentives across the entire community. However, operating a DAO requires a complex system of software and protocols that are difficult to build from scratch. There are numerous DAO tools that allow individuals to start a DAO with ease and streamline the day-to-day operations of a DAO.
The most basic set of DAO Tools include the treasury, voting portal and communication tool. The treasury is the central bank of a DAO and will require the setup of crypto wallets (usually multisig) that can be funded by community members in order to participate. Voting is conducted via a voting portal that allows users to connect their crypto wallets to the DAO and cast votes using tokens or NFTs.
Communication is the backbone of a DAO and it is important for community members to be able to discuss and share ideas efficiently. Discord and Telegram are the most popular chat tools for DAOs to communicate one-to-one or as a community. In addition to these messaging tools, DAOs also use blogs and social media to reach out to their audience and promote their mission.
How Do DAO Tools Help Streamline the Day-To-Day Operations of a DAO?
Another essential part of DAO tools is the infrastructure to support the organization. For example, a DAO will need to establish a website that is easy for its members to navigate and provides the necessary information about the organization. There are a number of different tools available that can help with this including content management systems such as WordPress or Ghost and social media management platforms such as Agorapulse, Hootsuite or Later. DAOs will also need a writing platform for the creation of articles or blog posts to reach out to their audience and encourage participation.
Other infrastructure tools include the off-chain governance and treasury tools that allow DAOs to operate smoothly. Off-chain governance tools include forums where proposals can be discussed, voted on and executed. Usually these discussions are held outside of the main dApp or blockchain in order to keep the cost of transaction low. Often these forum tools are coupled with a treasury tool such as Gnosis Safe that allows for simple multisig transactions.
DAOs are a relatively new form of organization that is changing the way we interact with each other and do business. While the DAO movement has been incredibly rapid, there is still much work to be done to make the process of building a DAO as smooth and accessible as possible for anyone who wants to join in. The suite of tools that is available through Verse Network are helping to do just this and are enabling diverse coordination mechanisms that were never before possible on the web3.
