Introducing Token Race

Create a DAO that looks by all respects like a traditional organization except that it uses tokens for ownership and governance.

Communities donate funds and use a DAO to vote on how that capital is allocated to various contributors in the form of governance proposals.

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.

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

Tokens can also be extremely impactful, whether they enable partial or full governance. Not only can they be used to reward early adopters, but create new stakeholders and mutual alignment. Platforms such as Rally, Bonfire and P00ls are enabling creators/brands to launch their own currencies.

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