Product Overview
DAOs give the direct power to the people. Meet the platform that lets you have such.
The Problem Statement
Crypto Newbies face difficulties before accomplishing their first meaningful contributions to a DAO: Finding DAOs to join, Understanding what a DAO represents & how to make meaningful contributions. Before we get started I'll like to explain what a DAO is.
What is a DAO?
A decentralized autonomous organization (DAO) is an emerging form of legal structure. With no central governing body, every member within a DAO typically shares a common goal and attempt to act in the best interest of the entity. Popularized through cryptocurrency enthusiasts and blockchain technology, DAOs are used to make decisions in a bottoms-up management approach.
A DAO is intended to improve the traditional management structure of many companies. Instead of relying on a single individual or small collection of individuals to guide the direction of the entity, a DAO intends to give every member a voice, vote, and opportunity to propose initiatives. A DAO also strives to have strict governance that is dictated by code on a blockchain.
How does a DAO work?
The rules of the DAO are established by a core team of community members through the use of smart contracts. These smart contracts lay out the foundational framework by which the DAO is to operate. They are highly visible, verifiable, and publicly auditable so any potential member can fully understand how the protocol is to function at every step.
Once these rules are formally written onto the blockchain, the next step is around funding: the DAO needs to figure out how to receive funding and how to bestow governance. This is typically achieved through token issuance, by which the protocol sells tokens to raise funds and fill the DAO treasury.
In return for their fiat, token holders are given certain voting rights, usually proportional to their holdings. Once funding is completed, the DAO is ready for deployment. At this point, once the code is pushed into production, it can no longer be changed by any other means other than a consensus reached through member voting.
Research & Insights
First, I didn't want to build on the assumptions of the problem we had already, And at the same time, I didn't want to break what works already too.
I performed a research sessions, in the qualitative analysis I interviewed individuals trying to understand the difficulties they faced in finding a DAO, contributing to a DAO, did they understand what was tagged as a meaningful contribution in the DAO they joined. I also carried out quantitative analysis, a survey to get more insights.
Survey responses conducted using Google form
Synthesizing our problems
Survey responses conducted using Google form
Card sorting view of findings from research conducted
User Personas
I also carried a competitive analysis by benchmarking against some of the DAOs already solving similar problems in the space, the choice of DAO I benchmarked against was informed by the alternatives indicated by individuals in the cause of the interviewing.
What are the opportunities from the insights?
During the ideation sessions, I adopted the “How might we ” framework to help us convert our challenges to opportunities by answering the reframed questions and figuring out possible solutions centered around the key insights or problems from our research.
HMW Framework (How might we)
TheDesign
The Homepage
The Explore Page
Rating and Reviews
The rating and reviews section tackles the issue of users not knowing if a DAO is doing relatively ok or not. Only users who belong (joined) to the said DAO can rate and drop a review also.
