Anyone who knows me knows that I am passionate about cities, and the culture and people who shape them. That's why, in my early Web3 days, I was captivated by examples of DAOs as cities; networks with people finding new and democratic frameworks.
But when you look to the everyday activity of DAO governance, getting people to participate is a big challenge.
Recently, the DAO space has trended towards "Vote Delegation", where members allow others to vote on their behalf. But this system often leads to concentration of power in the hands of the few.
Here, DAO Strategist Evan Brown channels his experience working with dozens of projects into a new voting mechanism for DAOs.
⚖️ Who Gets to Vote in DAOs? A New Vote Delegation Mechanism
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Vote delegation does have a place in DAOs, but there are many (well known) flaws with the current delegation processes.
Our DAO Strategist Evan Brown has created a voting mechanism called "Blind Delegation" to address many of these and provide a new framework for DAO voting.
TL;DR👇
Blind Delegation is a new approach for DAOs to distribute voting power based on reputation and engagement.
Token holders delegate to a pool of active members with high reputation scores, ensuring that votes go to those who are engaged and active.
Blind Delegation helps prevent centralization by placing caps on token distribution and using rep degradation.
Each DAO can customize its own reputation system, degradation, and token cap, providing autonomy to active workers and making it easier for passive token holders to have their vote counted.
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New Ways to manage your data in ChatGPT
ChatGPT now allows users to disable chat history for better data control, choosing which of their conversations can be used to train OpenAI's models. Users can do this by accessing the 𝘚𝘦𝘵𝘵𝘪𝘯𝘨𝘴 -> 𝘋𝘢𝘵𝘢 𝘊𝘰𝘯𝘵𝘳𝘰𝘭𝘴 -> 𝘊𝘩𝘢𝘵 𝘏𝘪𝘴𝘵𝘰𝘳𝘺 & 𝘛𝘳𝘢𝘪𝘯𝘪𝘯𝘨.
Conversations are retained for 30 days for abuse monitoring and then deleted. An Export option and an upcoming ChatGPT Business subscription offer more data management options for users and enterprises.
AI Startup Runway launches app to bring users video-to-video generative AI
AI startup Runway has launched its first mobile app for iOS devices, providing users access to its video-to-video generative AI model, Gen-1. The app allows users to record videos or transform existing ones using text prompts, images, or style presets, generating AI videos within minutes. While the results may be imperfect, the technology holds potential for content creators.
TikTok is launching generative AI Avatars
TikTok is developing an AI-generated profile picture feature, as reported by social media consultant Matt Navarra. Users will submit multiple photos and choose different styles, and the AI tool will generate headshots to be used as avatars or posted to TikTok stories.
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✅ Rob O'Shaughnessy on the future of AI-assisted filmmaking - check out the Visiblemaker’s movie, "The Great CatSpy," made from start to finish using AI tools: Read here!
Strong earnings from Big Tech e.g. Meta, fueled the stock market rally.
S&P500 climbed 2%, the largest gain since early January, while this gain was then partially offset by the worst-than-expected Q1 GDP growth.
GDP grew 1.1% in the first quarter, below 2% estimate.
US sovereign CDS spreads continue to rise as investors take out hedges against messy negotiations over the US debt ceiling
BTC price decreased to $27.6k earlier this week as the market expects higher probability of 25bps interest rate hike in May. Later this week, BTC price rally partially due to renewed concerns for the banking sectors brought by First Republic
What are notable raises?
15 deals announced in the past week with total fund raised $120m. 4 in DeFi, 2 in infrastructure
Notable raises include:
Thetanuts Finance (yield generation product): $17m, backed by Polychain Capital, Hyperchain Capital
Cata Labs (cross-chain bridge): $4.2m seed, backed by Spartan Group, Robot Ventures, Maven 11 Capital, Hashkey Capital
Lens protocol introduce Bonsai, an Optimistic L3 scaling solution
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Memes, Marketplaces, and More: Our NFT Report
The Power of Memes: $PEPE gained traction with an impressive increase from 114 to 38K wallets and influenced related NFTs like Matt Furie or Jack Butcher: Read more.
Trump’s second NFT collection sold out and dumped, while the first collection suffered a decline in price, leaving many confused by the rapid release of a new collection: Read more.
Sotheby’s will auction Three Arrows Capital’s NFT collection, valued at $21 million, starting on May 19th, as part of an effort to repay creditors: Read more.
Nike is to release its first activation on the .Swoosh platform with the “Our Force 1” collection, a tribute to the iconic Air Force 1 sneakers: Read more.
NFT Tech (NEO:NFT) released a Brands in Web3 and Metaverse report, covering Trends in Web3 Adoption by Brands of 2022 and Q1 2023: Read more.
Azuki will be hosting a “Follow The Rabbit” event at the renowned Hakkasan Nightclub in MGM Grand, Las Vegas on June 23: Read more.
Looksrare unveils its V2 version of marketplace and achieves 6% share of the total NFT volume over the past two weeks: Read more
Memeland teases token'Memecoin' that will power the entire Memeland ecosystem and drops a trailer for MEMEland (experience): Read more.
Want more NFT updates? Follow @NFTSins and @oel4all to stay up to date!
🎡💂🏼♂️🇬🇧 In London? don't miss the upcoming meet-up on Account Abstraction & connect w/ like-minded folks.
The meetup will be hosted by port-co's Etherspot and Biconomy, along with MetaMask and TrustWallet
Listen to our CMO Des Martin on the Around the Coin podcast, where he discusses market cycles, opportunity for founders and investors, US regulation and London's unique position.
🎥 Metropolis are a semi-finalist in Coindesk's pitch contest. Watch it here!
⌨️ We're LOVING Common Ground's rebrand as part of their quest to build the community of communities. Check it out here!
⛓️ Curious about how Biconomy's Polygon launch is going?...their SDK has processed over 4,000 UserOps with almost 4,000 smart wallets deployed. Almost 70% of the total bundler marketshare on Polygon!
👭 Swash partners with DataHive DAO to co-launch sIntelligence — the world’s first zero-party data analytics platform for businesseses.
