Weekly newsletter of DAO highlights / Issue #8

Weekly newsletter of DAO highlights / Issue #8

From Balancer DAO's decision to disband its governing council to a rundown of some live funding rounds on Prop House, here are some of the hottest stories in the DAO space over the past week.

Top Stories

Floki DAO to burn $100M worth of tokens

Following a DAO decision, the popular dog-themed meme coin, Floki Inu, will proceed to burn 4.97 trillion tokens on February 9. At the time the news broke, the value of the tokens had surged to over $100 million, up from $55 million at the time the proposal was initiated. In addition to burning tokens on the protocol’s cross-chain bridge, the DAO also agreed to lower the Floki transactional tax to 0.3%.

Decentraland DAO shoulders the financial responsibility for bug bounty programs

Moving forward, Decentraland DAO will take financial responsibility for the protocol’s bug bounty program while the Decentraland Foundation will manage operational responsibility. According to the enacted binding governance proposal, the decision to keep operational responsibility with the Foundation is due to its ability to react quickly to potential exploits.

Balancer DAO disbands governance council

Balancer DAO has rolled out a number of updates to its governance process, which includes disbanding its governing council. Earlier this week, the community approved the proposal, which seeks to restructure Balancer DAO's governance process and increase decentralization. Notably, anyone with over 200,000 veBAL in delegation can now post a Snapshot. Furthermore, there is now a clear-cut list of requirements and implementation processes for upcoming proposals.

Overview of some upcoming and live funding rounds on Prop House

What began as an experimental approach to deploy capital within the Nouns DAO has grown to become a public infrastructure to onboard and fund builders within DAO communities. Nouns DAO’s Prop House is proving to be an interesting option for DAO participants to fund their ideas. We explore some of the upcoming, live, and current voting funding rounds on the platform.

Merit Circle DAO adds two extra slots to its multisig team

In a bid to increase the security of its treasury and other operational and administrative functions that involve its multisig team, Merit Circle DAO has voted to increase the number of members on the team to 9. Two extra signatories have been added to the multisig team, changing the 4 out of 7 multisig into a 5 out of 9 multisig. Hash Rush (Vorto) and Danish Chaudhry have been recommended to fill the two new roles.

ApeCoin DAO kicks against two animation-based proposals

Over the weekend, ApeCoin DAO rejected two separate proposals seeking to create animated series. Both AIP-151, a proposal seeking funds for an ApeCoin DAO animated TV series, and AIP-168, an idea for 12 independent animations, failed to gather enough support from the community to be passed.

Other News

  • Euler DAO has made attempts to formalize its governance process. The default lifecycle of a proposal will now be shortened to 14 days following a community vote.
  • The Operations Workstream of Shapeshift DAO has received a fourth-term tenure extension. The group will receive $262,500 to perform its functions from February 1 to July 31, 2023.

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