Introducing Token Race

In late September, Mirror introduced a separate race for projects that have their own token, and it switched to "quadratic voting," which balances out for whales and attempts to reward regular people who get votes from the broader community. But a new problem emerged: bots were flooding in and influencing the results.

Our vision is to give DAOs the tools to better represent the varying nature of membership, improve member engagement, coordination and distribution of power and permission.

The token design process is becoming increasingly bottoms-up, with more responsibility transferred to the community.

Unlike traditional, web2 crowdfund platforms, Mirror’s crypto-native crowdfunding gives the tool a disruptive edge. With the application of tokens and NFTs, backers have automatic and permanent stakes in the success of a project. The result is a unique cross between starting an online community and an internet-native company, all in real time and w... See more

People/Politics: I want to know about the history and momentum of proposals, participation, and execution. What tools were used and token/delegation structures?

If DAO membership were represented by more specific units, decisions about the rights, permissions and powers of individual members could be differentiated.

Tokenized communities ensure some means of voting out core contributors and creating, editing, and ratifying community-wide proposals. This is most commonly manifested in treasury governance – members of tokenized communities have a say in how the group’s treasury is allocated. 

Protocol DAOs provided a framework for any network to issue a token that was (hopefully) owned and operated by its community.