Inside Web3 💎 | DAO: What is it and how does it work?
I hope you are doing well this week 💎
On our side, we continued our VC meetings with Mobula, we thought we could have a deal in 1 week but the process is much longer than that in reality 🧐
So we decided to go ahead and start building our new generation data aggregator ⬇️
Mobula is first and foremost a solution to a problem that most crypto tools face: Access to large amounts of secure & complete & reliable crypto data.
Our solution works, meet the crypto tools needs, and is integrated by more and more tools.
However, while pitching to VCs, we realized that more than being a simple protocol, we could develop our own frontend app, powered by our on-chain data API and enriched with incredible functionality, made possible by our decentralization positioning.
Imagine a coinmarketcap that adapts its data according to your crypto wallet & your investor profile? Imagine a token at the center of the platform with regular Airdrops?
We need your creativity!
What is not present on CoinMarketCap or other centralized aggregators that you would use on Mobula? Participate in the creation of tomorrow's #1 data aggregator :)
The plan of the edition:
1/ Top 5 Resources of the Week
2/ The intervention of the week: Toms from Project Kepler
3/ Focus of the week: DAO: What is it and how does it work?
1/ Top 5 Resources of the Week
Every Week is more surprising than the preceding, and things are still moving fast in web3 with big announcements this week. Be ready!
🇺🇦 New initiative from Binance to help Ukrainian refugees with cryptos! Every verified refugee will be able to apply at Binance and get 75 BUSD/month for three months after applying to their crypto-based credit card.
🚀Coinbase NFT to launch Beta of its new social-oriented marketplace. The platform will be implemented using a sophisticated algorithm to ensure that users’ browsing experiences stay relevant to their Coinbase NFT marketplace activity.
🌎New environmental-friendly blockchain protocol, is said to transform transaction fees into carbon offsets. Blockchain Algorand’s POS protocol will implement a smart contract to convert carbon emissions from the network into the purchase of verified carbon credits at ClimateTrade.
🤝 Opensea acquires an NFT marketplace aggregator service for its users. This Ethereum-based marketplace called Gem enables batch purchases across multiple marketplaces so that collectors can buy assets across multiple platforms.
👮 New highjack of Millions of dollars, stolen from the Bored Ape Yacht NFT Club… The most famous NFT collection worldwide was once more subject to hackers who stole around $3 million worth of NFTs from the collection through an Instagram phishing attack.
2/ The intervention of the week: Toms from Project Kepler
Today, I’m glad to welcome my friend Toms, CEO at Project Kepler, who aspires to become the leading private Metaverse in web3. It’s a 10,000 unique land property P2E closed-world metaverse, aiming at creating a photo-realistic environment where members can build, explore, and grow businesses and experiences. Great ambitions and nice experience to hear from…
At Project Kepler, we aim to create the largest hyper-realistic, community-centered metaverse for decentralized brands and individuals. to build venues, experiences, and connections.
Our core focus allows us to host various digital brands, creators, PFP projects, P2E games, and creative individuals. They’re empowered to build leisure and concert venues, immersive experiences, clubhouses for their communities, luxurious neighborhoods & marketplaces and at the same time- enjoy the exclusive community to connect, support, and grow.
There are 10,368 properties. 10,000 of those are available to be minted, whilst 368 are reserved for various experiences and partnerships. This allows Project Kepler to host WEB3 properties suited for individuals and creatives to brands and P2E games, supported by our DAO.
Each property is 100x100x50m big to support interesting ideas and creative developments. To support the community building aspects, each property can be set to private, paid, and public entry. Alternatively- members can merge their properties to build larger and higher similarly-themed developments.
All of the experiences are monetizable and facilitate the 9 primary earning mechanisms for our members. For Building developments, engineering assets, and creating paid experiences. Members can also charge entry fees for entry into their property, or- fractionalize their properties and rent them out to 4 different individuals at the same time. Alternatively- benefit the community by reporting scammers or winning DAO elections.
The Project Kepler economy is based on the $PKPL core utility token. Our core utility token is deflationary and is used for all in-metaverse transactions as well for voting in the bi-monthly DAO elections. To ensure an increasing value of $PKPL, all post-operation revenue is re-distributed to all staking $PKPL holders in the form of $PKPL. To support the very-high amount of expected daily transactions and ensure security for our members, Project Kepler is using Immutable X as our blockchain solution.
3/ Focus of the week: DAO - What is it and how does it work?
These past weeks, I have been meeting more and more people interested in web3. But most of them came to me with this question! What is a D.A.O ? Whatever your degree of interest in web3 is, you must have heard this word somewhere a few times… And for cause, DAOs could become the cornerstone of the new era of decentralization suggested by blockchain-based innovations. So now let’s dive deeper into these Decentralized Autonomous Organisations!
A DAO can be seen as an entity, an organization, or a community where the rules of governance are automated and written permanently in the blockchain. In other words, it’s an incorruptible organization with public rules, belonging to the people and governed by the people who helped create or finance it. Automated thanks to smart contracts, its governance can’t belong to any centralized entity or physical person which makes it secured, transparent, and fully decentralized.
Not clear? Don’t worry we’ll use an example.
Within a few days, we’ll be launching Mobula, our decentralized data aggregator! As a reminder, it’s kind of a decentralized version of CoinMarketCap, which will enable you to list and gather data on any token in a decentralized way. This means that any member of our close community will be able to submit or verify new token listings and the data associated! The dApp will be governed by the community itself to choose which tokens can be listed or not on Mobula which will then automatically gather the necessary data using APIs. And guess what? To do this we’re using a… DAO!
So why are DAOs so popular?
This comes from the roots of web3 and the cultural movement going along… People want more power, more control, and more security. To these wills, blockchain brought decentralization: a concrete way to manage (mostly finances at first) without any centralized authority or the control of usual governments. That’s why you always hear about community power in web3 and all this stuff… The starting point for all this is the need for people to obtain more governance! To feel safe and engaged, to trust what they use and buy…
Just think of ancient Greek Democracy. Imagine you could be part of a community to contribute to the evolution of one of your favorite products… That your voice had the same importance as any over, whatever the people in the company… And that you could even vote to include/exclude other members from this community? That’s exactly what we propose with Mobula’s DAO!
And if you understood this, you understood what governance is. Web3 for the people, controlled by the people! Any Mobula member will be able to govern in proportion to his $MOBL shares. This will allow voting, and create proposals about Mobula's evolution, that will be discussed and voted by the community. A second DAO, protocol-linked, will allow holders to vote for listing requests for new tokens on our data aggregator. To that extent, any decision surrounding Mobula will be taken after consulting the community. And guess what? Holders will be rewarded for their work when they are proven to be performing!
To join a DAO, one just needs to buy its native token, to acquire governance right on the project. As explained before, your authority (importance) in the decisions of the DAO is proportional to the number of tokens you own. Exactly like shares in a big company, you’ll also earn money if the token price increases. But contrary to a “classic” company, a DAO has no direction commission to ensure the decisions are correctly implemented. This is all ensured and automated by smart contracts, so it’s really important to check they were correctly written through audits for instance (hello Safetin 👋)... Uniswap, MakerDAO, and Aave are some famous DAO-based protocols. Even in such popular and big DAOs, everyone having a token can submit an anonymous proposal for the protocol. Governance by the people :)
But DAOs remain emerging applications of a concept forerunner… Especially since DAOs are directed by lines of code, they are still subject to complex security problems and cyberattacks. The open-source aspect can also be considered a problem since any progressing development of the company can be accessible by anyone. Hoping these issues will be brought to resolution, DAOs are still very promising since they could lead to solving all the problems of centralization that DeFi tries to escape. With Mobula for instance: vulnerability of centralized servers, uncertainty about data reliability, inaccessibility for on-chain applications... This is why the creation of a decentralized data aggregator seemed necessary. Collecting and processing data will be made by a united community, rewarded for its efficiency with our token $MOBL!
And if you’re now a big DAO fan, be ready for an exclusive interview next week about the first DAO implemented in a famous food concept store…