Governance tooling DAO, DAO DAO, announced its intention to spread throughout the Cosmos Ecosystem by bringing DAOs to the Interchain.
Since the inception of DAO DAO in August of last year, thousands of DAOs have come into existence, each with the ability to mint their own tokens and an ever expanding set of options to set up organizations how they see fit. Innovative updates to the software continue to be developed, with major features becoming available to DAO’s, such as subDAOs, which can now be created to effectively run a DAO’s treasury, grant programs, NFTs, and anything else the main DAO wants to break down into smaller parts.
As it stands now, DAO DAO runs on Juno —a permissionless smart contract chain— and is limited to that platform. Under the new plan, DAO DAO would be available to all chains in the Cosmos, so DAOs could be spun up on Chihuahua, Akash, Stride, or on any other IBC-enabled chain. Other Cosmos chains have expressed interest in utilizing DAO DAO and some projects have even forked DAO DAO, like smart contract competitor to Juno, Neutron.
DAO DAO’s creators want to take DAO DAO “everywhere” and believe it is in the best interest of the Interchain. DAO DAO is establishing itself as the leader in governance-tooling and with this new strategy plans to generate revenue and fees captured from deployments back to the DAO DAO DAO on Juno.
“More details on business models will be shared later this year and only move forward with the support of the community,” DAO DAO Developer Jake Hartnell said.
According to a recently posted Medium article, revenue generated from other chains will be channeled to the DAO on Juno (DAO DAO DAO) making it a hub for Interchain protocols. With this strategy, funding DAO DAO doesn’t rest entirely upon Juno’s shoulders and could reduce selling pressure for JUNO as other chains support development.
DAO DAO said they will be implementing new features on Juno first, where they can be “battle tested” before moving onto other chains.
The DAO DAO team believes that “real yield” will power the next market cycle and is cognizant of needed revenue streams. They welcome feedback and ideas from the community, but do have a sustainable growth model in place. Fees, DAO-run validators and token swaps are already in play, with an end-goal of sharing revenue with DAO stakers via $DAO governance.
DAO DAO seeks to build the best DAO tooling in crypto and by going Interchain, is on their way to achieving that goal.
