The Catalyst community begins to define and develop tokens

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Participants in the Catalyst community are beginning to define and develop tokens as the Funding Process matures.

In collaboration with NFT-DAO, my organisation QA-DAO has drafted a “Keep It Simple” overview of a DAO Token economy. The idea is to reduce DAO Token development to its most basic stages – so that a broader context can be understood by most people.

I have now published QA-DAO’s “Keep It Simple” approach under a Creative Commons License.

I would welcome criticism and discussion both on this forum or QA-DAO’s GitHub discussion topic dedicated to this simple beginning.

QA-DAO’s “Keep It Simple” overview of a DAO Token economy was inspired by:

  1. Working with NFT-DAO which recently received funding in round 3 of Project Catalyst.

  2. Working with Phil Lewis (Introducing Empowa) on the NFTDAO: Industry Standards 1 Fund 5 proposal who has identified the InterWork Alliance’s Token Taxonomy Framework as a key tool in Token development.

  3. Working with the #game-theory channel on Catalyst’s Discord community alerted QA-DAO to the token-engineering-canvas which provides a spreadsheet template for an engineering approach to Token design.

All these synergies demonstrate the cost-effectiveness of the Catalyst community when it works together using an open-source approach where ideas can flow freely.

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Nice, I like the Idea of simplifying this project for the community, so that a lot of people can understand it. I will take a look and if I have a suggestion than I will let you know.

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I am looking into it on Github and I think that the mission statement is unclear. It need to be simplify and easy to understand. quote: “like shopify” that not a good way of describing a project mission. Please revisit the project mission statement. I like the problem that you are trying to resolve and the solution that you are proposing, but I think that more details is needed to how you will go about achieving this results.

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Hi @Stephen_Whitenstall

Thanks for recognising the contribution made through NFT DAO towards this great initiative of yours.

It is however important that everybody is also aware of the contribution you have made to NFT DAO to date. Your efforts to put a layer of transparency through documenting meetings, decisions and other discussion via a GitHub structure have been huge.

This is a clear demonstration of the capabilities you can bring to the QA-DAO, also a very important project.

Cheers

Phil

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Thank you for your comment - can you clarify where you found the term “shopify” (with a link) as my organization QA-DAO does not use that term in our proposal. Nor does the proposal NFTDAO: Industry Standards 1 include that term.

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Addendum - Mohammed Behairy of #game-theory channel on Catalyst’s Discord community alerted QA-DAO to the token-engineering-canvas which provides a spreadsheet template for an engineering approach to Token design.

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Thank you for the spreadsheet! I’m a huge fan of your work and I’d like to point out that Some Participants in Catalyst are beginning to coordinate and possibly even implement some standards that would present a false image of leadership and authority. I understand and appreciate the effort to add a little structure to help a broader group understand something but are you assuming and/or forcing limitations on creativity? I hope we don’t allow the “Autonomous” to become the “Assimilated”.

I believe taxonomy comes before governance and I see tremendous opportunities for NFTs to offer governance systems within DAOs, which I’ve shared with NFTDAO members.

Keeping it simple is playing it safe and I would encourage everyone to take some risks! Be creative! NFTs and DAOs are what we create, not what governs.