How To Supercharge Your DAO With Hive

4 Min Read
839 words

The year is 2022 and DAO funds are flourishing in the crypto industry. You would expect these organizations to have impeccable communication and organization in place but the truth is not in tune with that thought.

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DAOs Are Great But...

The expansion of decentralized organizations is a major boost to productivity and capital efficiency but without proper communication, things can go from bad to worse very quickly. Right now, most DAO funds use the following channels of communication:

  • Discord

  • Native Forum

  • Legacy Social Media

  • Telegram

  • Email

I won't go into detail why most of these don't even make sense but here is a brief overview.

Discord can be total mayhem if you aren't familiar with the app. Joining 5-6 different channels will be blasting notifications your way every few minutes and this is after you only filter out the important ones.

Forums are more organized but if you are involved in a few different projects and want to govern all of them it can be a hustle. We are talking 20-30 bookmarks just to stay informed unless you exclusively use your browser to stay up to date with your favorite DAO projects.

Legacy Social Media is bad for so many reasons it's pointless even talking about it. If you don't turn on notifications you will definitely miss something and if you do they will drill your brain with posts you never wanted to see in the first place. At best, every 10th update will be of interest.

Telegram should be a relic of the past. Even if you try to keep it organized with pinned messages and moderation group members will stand no chance. Constant inflow of pointless questions and observations will eventually make you uninstall Telegram and give Discord another try.

Email... When was the last time you saw something really important in your inbox?

The Problems Of (De)centralization

If you were new to DAOs you would expect everything to be decentralized, from community initiatives and leadership to proposal voting and governance in general. The reality of the situation is very different. Most important proposals are put forward by founders or whales who have the highest financial incentive in the organization.

When you think about it, it makes perfect sense and there is nothing wrong with this model but there is a reason why the small investors almost never have anything to suggest or add. They either own a very low percentage of the DAO governance tokens and don't really care where it goes or they feel it's not worth it because their stack won't grow much even if the price triples overnight.

Sometimes you will need to put forward incentives to get people to vote on a proposal which shows the main issue DAOs have - lack of participation incentives. If even minor contributions were rewarded, members would show more will to participate and act in the best interest of the fund.

What if I told you that all of these problems have an easy fix?

Enter Hive

No matter how hard you try, at the end of the day, people will be people. They need money to survive and if you don't have it they will find someone who does. People want their time and effort to be valued and if we continue ignoring this fact our communication efficiency and growth will stagnate.

On Hive you get all of your solutions free of charge. Creating a community is easy and with the right ideas, you can grow it as fast as you like.

Free governance tokens for best weekly improvement proposals, free tokens for the best contribution added to an already existing proposal, writing contests to generate community-driven content... The sky is the limit if you are creative enough.

By providing a simplified interface where your community can decide how they want to organize it things can only get better over time. Instead of scrolling through an infinite dumpster fire on forums your best posts are the highest-ranked organically because your community had a way to highlight what they collectively think is important. A simple but very efficient way to keep information organized by priority and relevancy.

And I didn't even get to the best part...

Your community can have all of those incentives we mentioned earlier with no added cost to the organization. Hive rewards their engagement and effort on the base layer through the upvotes and downvotes all of you will be distributing daily.

Every idea can be turned into a post that incentivizes further discussion and improvement. Those that add value to the original idea are also rewarded proportionally through upvotes and curation rewards. On top of all that, the community may decide to create their own tribe and have their own token which would then yield double rewards for everyone involved. If I really need to spell it out, we are talking about unlimited potential.

So what are you waiting for?

Posted Using LeoFinance Beta