DAO Use-case: Marketing & Development of Protocol
We see the DAO as a box of wonders that could do miracles for so many blockchain-based startups these days. A DAO can be an excellent promotional tool that will get you a passionate community with ambassadors all over the world, it can likewise get you a crew of seasoned developers if your idea and plan look worthwhile. And ultimately, a DAO can become a self-sustained business model that would benefit its founder and team as well as its community members.
To make you see the DAO-influenced things our way, we are going to have a more in-depth look at how a DAO can help your project develop and grow.
The marketing difference a DAO can make
If you are starting a commercial project, the biggest task at hand will at first be to raise investment. If you believe that what you are doing has got serious potential that is a good thing, but that is typically not enough. So, to make the funds come in, you will need to introduce your project to your target audience of potential investors. That means you need someone who will spread the word. You can hire PR personnel, but at the startup stage, it will be hard to do since you will have little funds and basically have to feed a promise to your workers.
Starting a project as a DAO will largely relieve you of that burden because you will be able to give your DAO members power and motivation from the start. The power to influence the project’s development and benefit from its success and the motivation to make the project succeed. The more power, i.e., stake in the DAO’s token they have, the bigger their profit will be, which will keep them motivated to do the right thing to make it grow.
Therefore, provided that you deliver on your promise and go the right way, your community will carry you. And when the time comes for you to raise funds, you will have a big crowd of backers who will stand by the DAO and will at times be even ready to invest in the project themselves. Thus, you will not only get a bigger chance of success but also a strong community that will become an integral part of your business.
DAO’s power to develop the project
As your community grows, so will the DAO: there will be certain parts of it having particular interests in certain things. One of those things is the development stack that will be the core technological part of your DAO.
And if your DAO is doing well, developers will also have an interest in making their specific contribution to its growth for their own benefit in the ultimate end. Some of them will want to become DAO members and have an influence from the inside, others will be willing to offer their service and become the DAO’s work force. The former will have the ability to offer development proposals that the DAO will vote on, helping to make the right collective choice.
The presence of the DAO will also be helpful in making the protocol updates before they even go live as the community will spread the word, discussing them in commits on GitHub, Reddit, and letting others know. And if there is some proposal offered by a celebrated individual, it can be wrapped into an NFT, which will be another source of public awareness for your project.
As the word spreads in developer circles, the chances are they will be looking at your DAO and thinking of making their contribution. Thus, you will be able to sort out both development and recruitment at your project of those who will develop it and let it become a self-sustained business.
Bottom line
If you plan to build a blockchain project, the DAO model can be your best choice right from the start: you will attract more public attention and build a community around it. Its members will share the financial interest in the project and will be incentivised to do the right things for its development and growth.
In case of success at the initial stage, your DAO will become more influential and responsible for its success. It will be able to make proposals on how to use funds, what updates to implement and what personnel to hire. And Alpen can be an ideal platform for your DAO as it can offer all of that and many more relevant functionalities to make your DAO answer your needs.
About Idavoll Network
Idavoll Network is a decentralized organization platform that provides infrastructure and services to users of the Idavoll Network and Polkadot ParaChains. Each Idavoll Network’s individual organization exists as a set of modules that define the organization’s stakeholders and their associated rights and privileges. Idavoll Network will implement Idavoll Court in the future, developed and maintained by Idavoll Network token holders. The Idavoll Court can be used by organizations to resolve subjective disputes with binary outcomes utilizing Idavoll’s unique on-chain solutions.
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