Chainforest Weekly Recap (11/06/22)
Chainforest Weekly Recap
Greetings Rainmaker’s! ⛓️🌴
Welcome to the latest edition of the Chainforest Weekly Recap, where you’ll find up-to-date information on upcoming Chainforest DAO programming and industry events, the community feature of the week, a round-up of the most exciting happenings in our Discord this week, and a welcome to our new Rainmaker’s!
In the past week, 105 new Rainmakers have joined the forest!
The top three channels were: 💬│general-chat, 💸│gen-defi, and 🧠│sector-specific.
Upcoming Chainforest DAO Programming ⛓️🌴
For the month of November, Chainforest DAO will be doing a thematic deep dive on the intersection between sports and web3!
Twitter Space: A conversation on the intersection of sports x web3
When: November 8, 2022, at 3:00 pm EDT (RSVP: here)
Twitter Space: Interview with Krause House DAO Co-Founder Flex Chapman
When: November 16, 2022, at 2:00 pm EDT (RSVP: here)
Monthly Town Hall: Did you miss our November Town Hall meeting? Check it out here!
To view the entire duration of the Town Hall, download the file
Chainforest DAO Happy Hour & Fireside Chat Recap 🥳
A huge thank you to all of the Rainmaker’s that attended our Happy Hour and Fireside Chat event in NYC! We hit max attendance with 60+ people. Bringing our digital connections into the physical is critical for creating the best communities. We hope you had a great time! Stay tuned for more details on our next NYC event in December! 👀
Discord Highlights 👀
Rainmaker’s debate modular vs monolithic blockchains 🌟
Pal agrees with Aric that one cannot exist without the other. Many monolithic chains exhibit modular characteristics, so the two are not exclusive. Pal questions whether appchains specifically will work since consensus is owned by a specific app rather than at the protocol layer. Pal takes the side of consensus happening at the protocol layer, for the most important (define that however you want) use cases
Aric follows up by saying consensus exists as its own base layer while protocols like Aave and Uniswap sit on top of the consensus layer. The application layer is where dapps aggregate the services of underlying protocols
Aric continues: Appchains exist as their own chain. Apart from being able to run their own VM, they can customize their own consensus and have their own native token. However, consensus on the underlying L1 must still be reached
Jrp proposes a scenario to the community: A DAO but just for one asset - Instead of managing a growing treasury and member directory, you raise money for one asset and govern just that one asset ⭕
What would the benefit be versus just managing the asset directly?
Find an asset
Raise for asset
DAO is created
Govern (Trade/Flip, Rent out, Etc.)
Sell, split $$ to respective owners
DAO ends
Currently, DAOs work like this:
Raise funds for DAO
Buy assets (multiple types (NFT/FT) and projects)
Govern all assets/DAO treasury
Sell, $$ goes into treasury
Process starts over
Two things stood out to Matthew regarding this comparison:
DAO ends vs cycle repeats: DAOs usually have a clear goal, but not a clear ending. In order to progress, the DAO must align all its members on a mission that is different than one that got everyone together in the first place
It all comes down to member incentives to contribute. Having a strict ending for the DAO, perhaps even a timeline for that would likely incentivize members to contribute
Onion shares a potential buyback-and-burn model they are considering for one of their projects and requests feedback from Rainmaker’s: 🔥
Model:
Users do some activities to earn tokens
The project earns revenue from that activity (e.g. affiliate fees on a purchase)
Users likely sell those tokens
Project buys back tokens from the open market to compensate for that selling pressure
Jamie says that quite a few projects follow this model for a number of reasons (e.g. Ethereum and BSC both have a burn rate in place). Jamie adds burning tokens is very specific to the use case and ultimately what you want to achieve. The bottom line effect is always the same and that is a reduction in the supply
Upcoming Events 🗓️
Breakpoint 2022 - where the builders, enthusiasts, and dreamers making the future come to work, learn, and play
When: November 4-7, 2022, in Lisbon, Portugal
Details/RSVP: here
Token 2049 London - TOKEN2049 is the premier crypto event, organized annually in London and Singapore, where founders and executives of the leading Web3 companies share their views on the market
When: November 9-10, 2022, in London
Details/RSVP: here
Southern California Blockchain Conference - aims to bring the blockchain community of Southern California together to further the development of blockchain technologies and solidify LA’s position as a Web3 hub
When: November 10-11, 2022 (location will be noted on the listing and in your confirmation email)
Details/RSVP: here
Community Feature of the Week 🎉
Interested in joining Chainforest? ⛓️🌴
How to apply: You can apply to become a member by completing our application on Typeform. We will review your submission and grant access after approving your profile.
Apply here: https://chainforest.typeform.com/apply
I hope you enjoyed this week’s edition of the Chainforest Weekly Recap!
Till next week,
Sloan (@Sloan0_0)