SteemDAO: the developmental gateway to Web 3.0

in steem •  7 months ago 

The coming SteemDAO has the potential to be a game changer for the community if what gets developed through there adds value, brings in people, streamlines process, simplifies account management and creates applications that offer an attractive and compelling usecase.

For those that do not know and have been living under a rock, the SteemDAO is a fund that takes 10% of the inflation pool and directs it towards community suggested and voted initiatives that support the Steem ecosystem. Through this mechanism there is a lot of uncertainty of what it could empower, but we know we need development, which is great as they are the conditions of innovation.

This fund is quite unique in many ways but of course 10% of the pool while it sounds a lot, isn't that much after all - at current prices. The pool delivers about 26 million Steem into the supply over the next year which will from tomorrow, include 2.6 million for the SteemDAO. At current prices, that is around 500,000 dollars' worth earmarked for Steem development in the next 12 months.

At current prices.

However, if prices change, the value of the DAO is directly affected. If prices half, there will be 250,000 worth, if they double, it will go to a million in the fund for development. What happens if @acidyo's predictions start to be realized where prices increase dramatically?

Well going on the Steem ATH of 8 dollars, that 2.6 million Steem would be worth around 20 million dollars and that could all be utilized for development purposes of various kinds. That is a nice little pool to attract both suggestions and developers to produce them.

What I am hoping is that to begin with there will be a push to build the low-hanging fruit such as signup processes, account management and tools for building the communities outward. After that, I am hoping that some UI development takes place and most importantly, analytics and gamified account feedback is built into modular plugins that can be implemented by the front ends.

While these things take place, if they start to bring value, attention and stickiness of usage to the ecosystem, the interest and demand should push prices higher, adding more developmental funds into the mix. In time, rather than just building for Steem itself, it becomes a pool of resources to massively power development of all kinds and possibly some very important applications and innovations to make Steem the go to place for Web 3.0 empowerment through ownership of data and experience.

The SteemDAO is going to be the most interesting thing to watch after the dust of the Economic Improvement Proposal comes to rest and people get accustomed to a new normal on #newsteem. As prices increase and the institutional investors start looking for places that have real products and services as well as a market in demand for them, Steem has a very high possibility of absorbing a great deal of investment attention.

Remember though, Steem is the protocol layer and the investments aren't only going to be into the protocol and Steem itself. Rather, it is going to be looking at all of the businesses and community supported opportunities that are built above the protocol in the same way that people invested into Amazon, Ebay and Google - not into the "internet".

Steem is the electricity that powers it all, it is the gateway to Web 3.0 and the SteemDAO can be the development toolkit used to build it. Be prepared.

Taraz
[ a Steem original ]

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Thank you for framing the coming changes into an understandable longview. I am very interested in what you are doing to prepare for the coming HardFork and DAO.
Thank you

No problem. My prep is pretty basic as not much changes. I have never been an optimizer but I am interested in how behavior changes. This means that when the HF happens, I am going to be observing a lot, downvoting where I think it matters (over-rewarded content at the moment) and seeing what shifts in the community. There are a lot of moving parts but over the next few weeks we will have a clearer picture I hope.

Great, now the Be Prepared song of the goat character from Hoodwinked will be with me all day.

Web 3.0 needs to get faster in all respects. Waiting time here would kill the interest of people who are not here for the investment. Transferring money here is fast, all right, but transferring massive data...needs a more powerful decentralized network, still.

Yes, it does need to get faster but it is still finding its feet and will still benefit from the coming innovations in other areas of network development as well as storage. Lot's of things coming together, on and off Steem.

You explained everything very well

Thanks, hopefully it helps the few who read it :)

However, if prices change, the value of the DAO is directly affected. If prices half, there will be 250,000 worth, if they double, it will go to a million in the fund for development. What happens if @acidyo's predictions start to be realized where prices increase dramatically?

That will come down to the size of the user base in the end. What was the price prediction of @acidyo?

He didn't give that kind of prediction - just up :)

Is there a good site showcasing statics for Steem user activities?

What kind of data are you looking for?

Well, we have to look for 'inactive' accounts reengaging and account action per time.

you might want to have a look at @penguinpablo's as well as @arcange's reports first

kay

100% hit :)) thx!

no problem :)

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Thank you for writing this excellent post.

We appreciate you for your clear insights and the effort you have shown over the years in promoting/explaining/building the Steem blockchain. As you will agree with me the correct use of tags is an important part of this. With the rise of tribes, the correct use of tags has become even more important, since tribes value their own trending pages and want to make them the best they can be.

In that perspective i would like to ask you if you feel this post should really be tagged with "photography". The PhotoStreem curator team for one, feels that it should not. We are looking forward to many more of your post, also on our tribe when the content fits our platform.

  ·  7 months ago (edited)

I am glad that you are taking the time to police your network. However also for future reference, I only use my own images and always have which means, they are my photographs. One of the issues that the tribes are going to face is trying to make claims on generic labels like "photography" "investing" or "technology". It would be different if the tag I had used was a frontend specific tag like "creativecoin" Generic tags are generic tags.

For marketing purposes the generic tags work well at this point because each tribe can pull in a lot more content to fill the feeds, but in the future each will need market differentiation and the generic tags are not suitable for this purpose. What I am hoping is that the tribes will offer unique experiences and specific tags for purposes that empower their users as there is a lot of benefits and potential in positioning within the marketplace. :)

Thanks for your response.

It is good to know that you always use your own images. I will pass that information on to our curator team, so that for future references, we are clear on that.

Your remark that tribes claim generic tags is one that is heard more often and i'd like to take this opportunity to adress that. No tribe has exclusive rights on tags. Everybody who wants to start a tribe can link the same tag. There could be hundreds of tribes linking the "photography" or "technology" tag and users who would post using these tags would earn hundreds of different tokens on their posts, next to their earned steem. In my opinion tribes add value to the tags they link to, as users earn additional tokens and are likely to get more interaction on their posts.

Tribes empower communities in a way that Steemit has never been able to do. I have heard from many users that our tribe has given them a sense of enthousiasm back, that they had lost somewhere on the way in Steemit. There is much more interaction, teams and projects are formed and the quality of content on tribes exceeds that on Steemit in fold. Just compare our trending page to the photography trending page on Steemit.

Lastly i believe tribes are the perfect tool to bring new users into steemit, as they can find communities with shared interests and likeminded people there. As with everything in life, some tribes will stand out and others will fail.

As we are a photography tribe (with a curator team made up off established Steem photographers) the "photography" tag is our core and we strive to make it all it can be.

I completely agree with what you have said I am glad that there has been a push into the separation of content and theme and I think that for many, it has breathed new life into their creative pursuits. I am looking forward to see how far it can go.

Out of curiosity, have you a specific tag for the frontend? I am yet to login there at all and I have used the photography tag on probably 80 percent of my posts, which means thousands of times over the last 2+ years. I actually didn't know of the tribe until I started seeing a token appear in Steempeak.

We have linked the relevant photography tags, so on our website it's simple to flip between for example foodphotography, monomad, animalphotography, etc. Please come and have a look on photostreem

And feel free to drop by our discord as well: https://discord.gg/EQz9Ex

We'd love to talk with you and exchange ideas.

Excellent, thanks for the links :)

There are good and bad projects possible as have been seen in similar proposal systems like the one Dash has has for some time now. They initially used plenty for marketing which worked during the hype but has suffered since as no real value was added from only marketing. Look forward to what can come out of it.

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They initially used plenty for marketing which worked during the hype but has suffered since as no real value was added from only marketing.

This is what I am hoping is avoided here. The DAO should focus on the support functions and tools for the community and then move to marketing and onboarding.

Sweet, thanks for taking the time to explain this in depth for us man. I really wasn't sure of how this was going to work but I'm pretty sure it will be beneficial to the platform overall. Change is good!

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