Note: If you are here for the first time, make sure to read our introductory post about the ShineDAO — https://shine-squad.medium.com/prepare-yourself-for-a-new-way-to-do-crypto-incubations-5d0554c719cb
If you were expecting the usual reiterations about tokenomics, community incentives or maybe even a regular newsletter, well, today it's not about that, today we are going to show you the future.
The future which holds an invisible, persisting fundamental force shaping the blockchain evolution. What we are witnessing in the blockchain space is the emergence of the new kind of entity. This entity is an online organization much bigger and more powerful than a single individual. What we need to understand and ask ourselves is how we can USE and BENEFIT from the fact that the evolution is just starting — we have infinite possibilities here to shape our digital lives while at the same time respecting our values such as freedom, decentralization & privacy. The entity we believe that can achieve this is called the DAO.
The definition for the DAO is the following:
“A decentralized autonomous organization (DAO), is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government.”
There is more to it than merely computer code. The DAO is a social code represented as a logic on chain. Remember Steem fork? That was a community led effort to fork the Steem blockchain due to the fact that Justin Sun bought majority of the tokens with the intent to take over the network. What the community did was to just fork the blockchain and to make a new copy where all of Justin’s Sun tokens were burned. Deleting the balance of someones tokens it's not something that you can do at all as the balance is protected by the cryptographic keys. However, what we have witnessed here is that there is something even more powerful than the computer code — basically the social code of the community. The community decided to fork the blockchain and to make their own rules there. If you observe carefully what happened here is that there was a large coordination action that even though resulted in the “impossible” computer code change, in the beginning it was initiated by the social code itself.
As you can see social contracts are in some important cases even more important than the smart contracts and core blockchain logic. These social dynamics are such a powerful force that it's vital to take into account social dynamics when building a DAO.
The best name to describe this force is probably legitimacy
Legitimacy can be achieved via several means:
- Legitimacy by brute force
- Legitimacy by continuity
- Legitimacy by fairness
- Legitimacy by process
- Legitimacy by performance
- Legitimacy by participation
Legitimacy doesn’t have to be something that is good for you or that you agree with, legitimacy is the end result of a coordination game using the aforementioned means. We are all just basing our decisions and actions on some invisible high level social ordering pattern.
On the second hand, other ways of achieving legitimacy is something that we really want to do at ShineDAO. While is true that most of the people in the DAO are anonymous that still doesn't mean that they cannot trust each other. By having skin in the game, interacting with each other, we can see what values other participants cherish, what they contribute to and how, over time we will build hardly breakable trust with each other.
That is the vision for ShineDAO and we want you to become part of our journey.
Join us and understand this invisible force, shape it and watch it how it lays its invisible hand on, and permeates the fundamental aspects of the members of the DAO, the projects that we support, and the world around us. Getting get a real chance to execute on a vision on what crypto could eventually be from like a decade ago: decentralized ways to align incentives and to build a more inclusive resource allocation system. Scalable/decentralized blockchain tech is finally here, more broader willingness to transfer value in crypto is here, broader dissatisfaction with tradfi/etc. A lot of stars are aligning at the same time and it really seems that it's your’s time to Shine.
Whitepaper: https://docs.shinedao.finance/
Website: https://shinedao.finance/
Twitter: https://twitter.com/ShineDAO_
Github: https://github.com/ShineDAO/frontend-app
Discord: https://discord.com/invite/QkhbP7bZrj
Telegram: https://t.me/joinchat/IYb-l9U7iIws5f2c
Reddit:https://www.reddit.com/r/ShineDAO
Contact us: shinedao@protonmail.com
