MolochDAO Membership Proposal
Ryan Zurrer – Membership proposal - 150ETH
How can you contribute to Moloch?
I commit to invest considerable personal time and capital over the next ~6 months on legal review of DAOs that will be relevant to MolochDAO and its members. I will review practical legal, tax and compliance questions regarding DAOs with lawyers in different relevant jurisdictions. There is no reason to double-spend on legal resources and review and I can leverage a number of lessons learned from dozens of project set-ups that I’ve participated in over the years. The topic of “Jurisdictional Competition” and its related inputs and outputs has been a particular area of great interest of mine for some time now.
Work on Architecture
It is important and relevant to evaluate different DAO models and mechanisms carefully to allow elegant mechanisms and faster evolution. I think we are all trying to get to roughly the same thing – an exciting decentralized organization that is sustainable and allows for great people to coordinate and do great things. To that end, I can provide input on some of the pitfalls of fund management and fund structuring in crypto and how incentivization can be impacted by architecture.
I can be helpful in onboarding more investors to allow for Moloch to scale it’s scope of projects.
I can vet potential grant proposals, organize review/dd committee meetings, find early-stage deals and high potential grant candidates, support grantees with a range of feedback around product, make introductions for grantees to potential investors, security auditors, lawyers and recruits. I have sourced solid deal flow for some time in this space and feel fairly comfortable about that trend continuing.
What kinds of projects do you want to see get funded?
Among many different initiatives, I would certainly like to see the following 4 types of projects get funded:
1- Protocol layer development towards earlier deployment of Eth2. The original thesis behind MolochDAO was to support Ethereum development and it is imperative that the community deliver on the ETH2.0 roadmap in a reasonable fashion. This is progressing better today in part because of MolochDAO’s great work thus far, but remains Ethereum’s highest priority and risk factor.
2- Compelling Ethereum infra-applications and critical utilities that should be freely available to all. The Tornado Cash mixer is a great example of supporting great infrastructure and a very impressive deployment on behalf of MolochDAO. Generally, there are many infrastructure tools and applications that would be highly beneficial for Ethereum but shouldn’t have any for-profit models or token imposed on them. Infura and Gnosis Safe or Metamask are great examples of very valuable infrastructure that delivers great value to Ethereum in part because they are free, thereby lowering the barrier to entry for developers and users respectively.
3- ‘memenomics studies’ – this is the emerging discipline within the wider study of cryptoeconomics that looks at the effects of memes on market efficiency, economic dynamics of meme-driven markets and certain Nash equilibrium established among byzantine actors on decentralized P2P networks under meme-effect or even meme-rule. We are starting to see the early signs of global recognition that memes matter a lot and they are incredibly valuable. We observe in networks like Doge and Chainlink where memes have driven extraordinary scale and value. In line with the dank memes that MolochDAO has produced thus far (early mover advantage), supporting more experiments on meme-driven development and meme-economies would be interesting. Relevant studies could evaluate the reach of certain memes, memetic effect of controversial governance issues, and generally support memenomics as a discipline within the wider study of crypto-economic. I think this is a compelling topic to explore methodically.
4- Experimentation in decentralized coordination – It would be interesting to evaluate the sets of tools that best support participation, filtering, communication and coordination among decentralized teams with varying levels of commitment (as we find in DAOs). Finding the right balance between synchronous comms tools (Discord, Zoom, Telegram) and asynchronous comms tools (Discourse, Moloch voting app, Github, Slack, Asana) is interesting. I would also like to try dogfooding more along privacy-preserving Web3 apps for DAO comms and generally experiment with novel coordination tools.
What have you contributed to in the Ethereum space?
- Contributed positively to the original debate around whether the Ethereum premine should be lower and the EF not have an internal venture fund.
- I participated in a host of legal and regulatory reviews of topics such as jurisdictional selection, ICO and token distributions, Airdrops/Lockdrops, corporate and offshore set-ups and a range of other legal matters. Happy to review lessons learned along the way
- Contributed capital to the WHG attack on the DAO. This was a herculean effort from Jordi, Alex, Vitalik, Griff, Christian and everyone who worked tirelessly on that white hat hack. Truthfully, I played a miniscule role only and we all owe them a significant debt of gratitude.
- As an investor and advisor. See my portfolio of projects that include the vast majority of what is now referred to as DEFI (at seed or pre-seed) along with some non-intuitive early bets. I also take great pride in supporting my projects very directly by getting real work done.
- Sponsored a Cryptoeconomics Lab at Richard Ivey (UWO).
Name one project you like, provide reasons.
There is so much to like right now. Obviously MakerDAO holds a special place for me. MakerDAO’s DEFI dominance is remarkable, but that is obvious and well-reviewed at this point, so I will look forward…
I really like SourceCred. I think reputation-weighted peer-review is the missing keystone to allow DAOs to become functional decentralized coordination mechanisms. It could be incredibly valuable to allow for an amorphous structure whereby people can passively and actively participate in DAOs, yet have their share in the rewards reflect those relative contributions along with incentivizing key value-add activities. SourceCred allows for an elegant mixture of objective metrics based on the Google PageRank algorithm evaluating Github or Discourse activity. PageRank helps teams link dependencies between individual contributions in order to map what we’re calling a “Social Value Graph” of contributions. These objective metrics are combined with subjective metrics whereby a certain ‘believability factor’ is considered when participants/members review each other’s contributions to produce an overall score.
Another project that is closer to launch that I’m a big fan of (disclosure an investor in as well) is Nucypher. Being able to have an incentivized collective of proxies help me secure my private keys is a great use case imho. Also, the work that this team is doing on homomorphic encryption is extremely impressive. Something really cool could emerge from this group.
Name one project you dislike, provide reasons.
Obviously there is a lot that one could easily shit on in this space. Buckets of garbage, but I don’t spend very much time on that stuff. Thus, I’ll try a slightly more controversial and non-intuitive one…
Bitcoin Lightning Network may look like a failure due to what we’re calling ‘economic scalability constraints’. The fact that if I want to send 1BTC on lightning through 5 nodes to an exit position, there needs to be 1BTC at each node posted in escrow, all of which requires remuneration. Each of the nodes have to have the collateral posted equal or greater than my transaction, which naturally limits the economic throughput due to n^tx collateral requirements. Even a hardcore maxi who had a little lightning bolt emoji on their socials in 2017 couldn’t have predicted that less than 10 million would be wrapped up in Lightning as we go into 2020. bitcoin’s payments and collateral use-case looks less viable, which is great for Ethereum as the programmable money stack.
What excites you about Ethereum?
ETH is (programable) money!!..it is interesting that Ethereum is dominating the financial instruments use-case. It’s been obvious for some time that the first applications to get scale would be finance-oriented dapps as they offer sufficient incentives for users to hurdle the extra friction points of using crypto. Smart contracts have always been an amazing innovation that will unlock greater capital efficiency. The possibility of smart-contract enabled financial instruments and the increased capital efficiency achieved could create a meaningful and lasting impact that will most benefit the 5 billion+ poor people on the planet. UBI will be an obvious afterthought, security and privacy will be guaranteed via encrypted keys allowing people to commercialize their data.
What excites you about Moloch?
Moloch is interesting because it’s evolving quickly, making thoughtful capital deployments and innovating in many organizational areas such as the filtering process for inclusion in a group. The memefication of entry (and eventual rage-quits) are other compelling innovations. The MolochDAO team is very talented, and I’m grateful to call many of them good friends. Overall, the result has been a really promising early track-record. MolochDAO is evolving rapidly and in the right direction as it professionalizes, increases scope and ambition, and pushes the boundaries of decentralized coordination and capital deployment.
I hope it is clear to most that I care very deeply about Ethereum and this amazing community of people I’ve come to call some of my best friends and most inspiring colleagues to work with. I am happy to do an AMA or Zoom call with the MolochDAO members to clarify my intentions with this DAO or generally.