sari

Think about who owns the Bitcoin or Ethereum networks. Nobody does. Nobody owns them. These networks are made up of many thousands of machines whose computational power has been allocated to the network because the network’s constitutive code pays the people who own the machines to keep them connected and churning away — and on super-reliable,... See more

As the manager, you could add another toaster, but this becomes an expensive addition of capital equipment. You could run the toaster continuously and build up an inventory of hot toast, throwing away what you can't use but always having immediate access to product. That means waste, which can also become too expensive for the operation. But at... See more

So angel investing is a category where people earn economic and social rewards for their curation, and also build their identity around it in the process. And yet angel investing is just one form of curation, so why not extend these benefits for other forms of curation?

To some, raising capital — especially fiat — seems unusual for a DAO. To be sure, many DAOs will build huge value without it. The reason this made so much sense for us was primarily the opportunity to continue aligning incentives with the amazing people who have helped shape our journey so far.