We’re a group of developers quite active in the crypto space and increasingly involved in Cardano. We fully support Cardano’s mission to use blockchain for the common good and to try solving some of the issues we face in society. With Voltaire starting to take shape, there is a solid foundation and framework now to sustainably build out more elaborate applications like liquid democracies and decentralized governance. Even though neutrality is desirable, conflicting demands and expectations are inevitable when defining certain attributes, and optimal settings vary depending on the goals of an organization and values held by its participants. To experiment with these tools and start contributing, we decided to set up an organization which is fully owned and controlled by the community from day 1: Meet the Cherry DAO.
As most permissionless networks allocate authority solely on a monetary basis, power tends to concentrate among a small number of entities. While usually still sufficiently decentralized to operate and secure the infrastructure, the lack of equality among stakeholders leads to poor outcomes regarding more nuanced decision making processes within organizations running on top. With the Cherry Governance Token we take a different approach and make use of some properties that effectively prevent these issues. Even though there is no guarantee on their effectiveness, we believe it’s worth experimenting, especially given the fragility of current systems due to exorbitant wealth disparities.
Cherry Governance Tokens are evenly distributed among the Cardano Community. They can not be mined, farmed or otherwise acquired, but only onetime-claimed from an ADA funded wallet. By using a snapshot from the past (Block 4977777), we can allocate an equal amount of voting power towards all claimants, independent of their balance and yet impossible to game. The total wallet count should amount relative closely to the number of actual Cardano users, as up until now the use of multiple wallets has been rather insignificant and arbitrary. There’s a total of ~400k qualified wallets at snapshot, including ~100k of the more unique Shelley format (addresses linked to wallet).
To avert recentralization by market dynamics, Cherry Governance Tokens are non-transferable. This preserves the initial allocation and allows its widespread distribution to evolve into a more fine-tuned governance system, one with high representation, low financial dependencies and fundamentally less vulnerability to sybil/51% attacks.
That’s the idea, let us know what you think… Also join us on cherrydao.org - v1 is already live, soon to be upgraded to v2 with the ability to check whether your wallet is eligible to get ‘cherryfied’