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And here is a technical tutorial of customizing the Compound DAO.
Governance Rules
The DAO we have works uses the Compound DAO's technical framework, but the rules have been changed significantly to simulate a real world scenario where the tokens represent votes, and the votes are made finite so that voters take them seriously:
- The contract owner gives voting tokens, "dCLM8", to members of the network.
- There is no limit to the potential supply of voting tokens.
- The voting tokens cannot be transferred between voters, though voters can still delegate their votes to another party (for now.)
- Voting tokens expire automatically if you do not use them.
- When you vote your tokens, they are "burned" and cannot be used again.
- Voting is quadratic, so the number of votes cast is the square root of the number of tokens you cast. Quadratic voting has been proposed as a way to better balance the views of many voters with few tokens and a few who hold many tokens.
- Proposals can be broken up into attributes, so you can either vote on the proposal as a whole, which is the same as splitting your vote equally on all its attributes, or cast all your votes on one attribute of it.
Possible Applications
Corporate Climate Initiatives
A corporate sponsor gives tokens to customers and the general public to vote on the projects (ie offsets) they like. This is really to build engagement and feedback on corporate-sponsored projects that otherwise get lost.
Customer Driven Supply Chain
Agroup of consumers can set up a DAO to collectively choose climate friendly consumer products. They could vote on both rule based code like the Utility Emissions Channel Project or products themselves or both. It is like a token-linked social network.
Validating Carbon Offsets
While standards like Gold Standard are very rigorous, they are also expensive and time consuming. There are many potential projects -- seagrass, satellite monitored forestry, biochar, small scale renewables -- that could or should qualify but cannot. So one way a DAO can address this problem is to have a collective validation of these projects with the goal of eventual certification by Gold Standard or the like. For small scale renewables we just need to aggregate enough deals to be large enough. For forestry, we could fill the gap where developers have to wait 7 years to start minting offsets, by using satellite imaging to start verifying projects in the interim. For seagrass, biochar, and a host of others, it's a long waiting period for a standard to evolve.
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