Mariano Conti, the head of smart contracts for MakerDAO and creator of SelloutDAO, and Peter Pan, the summoner for Metacartel DAO, discuss all things DAOs, including how Peter started Metacartel DAO after being rejected from MolochDAO, and why Mariano initially voted against Peter joining. (Peter eventually joined.) They also discuss how they came to form YangDAO, why Mariano almost rage quit MolochDAO after the YangDAO formed, and how other MolochDAO members felt about SelloutDAO, which Mariano describes as an experiment in "on-chain corruption." We discuss how DAOs are actually heavily built on trust and why they require a lot of social coordination off-chain. They also discuss funding for LAOs, which have a legal entity such as an LLC affiliated with them, why Metacartel is launching a LAO, and which types of projects should be funded by DAOs vs traditional corporate structures. We also cover governance issues at MakerDAO, why it has a CEO, and what role leadership in general plays in a DAO.
Thank you to our sponsors!
Crypto.com: https://crypto.com/
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CipherTrace: http://ciphertrace.com/unchained
Episode links:
Mariano Conti: https://twitter.com/nanexcool
Peter Pan: https://twitter.com/pet3rpan_
MakerDAO: https://makerdao.com/en/
https://chat.makerdao.com
Metacartel DAO: https://www.metacartel.org/
https://twitter.com/meta_cartel
SelloutDAO: https://selloutdao.com/
Unchained interview with Ameen Soleimani of MolochDAO: https://unchainedpodcast.com/molochdao-could-this-decentralized-autonomous-organization-help-ethereum-scale-faster/
Unchained interview with Santiago Siri: https://unchainedpodcast.com/how-blockchains-can-help-create-little-democracies-everywhere/
DAO Revival: https://www.coindesk.com/in-berlin-a-dao-renaissance-begins
https://www.bloomberg.com/news/features/2019-10-05/crypto-rebels-trip-over-each-other-en-route-to-financial-utopia
Andy Milenius’s account of MakerDAO’s change from a decentralized to a centralized project: https://www.scribd.com/document/407743542/Zandy-s-Story
CoinDesk story on the rift: https://www.coindesk.com/darkest-days-yet-purple-pill-tell-all-details-years-long-rift-at-heart-of-makerdao-stablecoin-project
Two most recent MakerDAO votes: https://vote.makerdao.com/executive-proposal/keep-the-stability-fee-set-to-a-total-of-105-per-year
https://vote.makerdao.com/executive-proposal/lower-the-stability-fee-by-2-to-a-total-of-85-per-year
https://vote.makerdao.com/polling-proposal/qmpem83sxjjwe1jvn2csdtetn4r3j95ejuzpbmtxef4lu5
Unchained interviews with Rune Christensen of MakerDAO: Part 1: https://unchainedpodcast.com/rune-christensen-of-makerdao-part-1-how-to-keep-a-crypto-collateralized-stablecoin-afloat/
Part 2: https://unchainedpodcast.com/rune-christensen-of-makerdao-part-2-how-dai-stayed-at-1-while-eth-crashed-from-1400-to-85/
MakerDAO vulnerabilities:
ETH could have been stolen: https://hackerone.com/reports/684092
https://thenextweb.com/hardfork/2019/10/03/makerdao-security-vulnerability-ethereum-dai-stablecoin-collapse-theft-cryptocurrency/
The LAO: https://medium.com/openlawofficial/the-lao-a-for-profit-limited-liability-autonomous-organization-9eae89c9669c
Critique of the LAO: https://prestonbyrne.com/2019/09/03/the-lao-demystified/
MakerDAO launching multi-collateral Dai: https://www.coindesk.com/makerdaos-multi-collateral-dai-token-is-launching-nov-18
https://blog.makerdao.com/breaking-launch-date-of-multi-collateral-dai-announced-at-devcon-5/
Are DAO’s legal? https://www.coindesk.com/new-interest-in-daos-prompts-old-question-are-they-legal
Unconfirmed interview with Uniswap: https://unchainedpodcast.com/how-uniswap-quickly-became-one-of-the-most-popular-dexes/
Unconfirmed episode with Ryan Zurrer about resurrecting the DAO: https://unchainedpodcast.com/why-ryan-zurrer-would-like-to-see-a-new-dao/
Unchained interview with Aragon: https://unchainedpodcast.com/how-aragon-hopes-to-improve-on-democracy/
SEC Sues Binance, Coinbase: ‘This Is Not the End of Crypto in the United States’- Ep. 504
The Chopping Block: Jake Chervinsky on How the SEC Has Lost Credibility - Ep. 503
What’s Next for Wallets After Ledger Recover Outrage? - Ep. 502
The Chopping Block: Will Modular Blockchains Win? - Ep. 501
Laura Shin Reflects on 500 Episodes of ‘Unchained’ - Ep.500
These 2 Crypto Trading Platforms Agree With SEC Chair Gary Gensler - Ep. 499
Ethereum L2s Are About to Be the Hot New Thing in NFTs - Ep.498
The Chopping Block: Why Everyone Is Talking About EigenLayer - Ep. 497
Ex-CFTC Commissioner Berkovitz Says ‘DeFi Should Be Regulated’ – But How? - Ep. 496
The Chopping Block: Wizards vs. Laser Eyes for the Future of Bitcoin - Ep. 495
The Ugly Tradeoffs of Ledger’s New Recovery Service - Ep. 494
Bitcoin’s BRC-20 Mania: Is It Sustainable? - Ep. 493
The Chopping Block: Do Aragon Association Members Get 'Fat Salaries' With 'Zero Accountability'? - Ep. 492
The IRS Wants $44B From Bankrupt FTX. How Is That Possible? - Ep. 491
Writing the Book on FTX’s Downfall: ‘It Was All Just Sam’ - Ep. 490
$630M Due Next Week: Is DCG at Default Risk? - Ep. 489
Do You Need to Think Twice Before Restaking Your Assets? - Ep. 488
The Chopping Block: Why Are We Still Building Layer 1s? - Ep. 487
Coinbase's Legal Action Against the SEC: How It Will Likely Unfold - Ep. 486
Gary Gensler vs. Crypto: What Will the SEC Attack Next? - Ep. 485
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