DAOFest – Felipe Duarte, DAOFest

so the idea behind the Festa is to design something that we still haven't had yet which is a exit to community by default organization that's on chain so when you say exit the community is that the value generated by this organization is by default being shared to all of the people who are producing it in the mode of cooperation that's actually being used the org also does it in a certain way but just we're trying to take it a step forward using the DAO stack framework so that's kind of the goal so putting in simple terms how to start with nothing and bootstrap a for-profit collaborative network owned by the ones who built it and no one else right I like the idea of keeping things as simple as possible especially when you're aiming for massive collaboration and runaway effects so I call it keep it's warming right so a group of people identify the need and divide it divides the solution for it we're gonna call these guys the initiators of the doubt that's usually happening solve the problem and then you sell the results instead of asking for investments and selling future dividends and turning this into a start-up of sorts produce a direct value in the case of fast Dow it's events for the web free community and brand placement for brands and I'm gonna talk about it later share the results of that collaboration and then our bank the work while you don't have any money so you're actually giving people something for their time that's worth the future so actually the investors are the workers this is this make sense cool now your main job is to attract and train the talent really you create a game that's interesting that people are willing to play and just repeat the cycle for every new vertical you invent right looks kind of like this you have a group of initiators who come up with a solution in our case Dow Fest right we created that fest 15 people came up to me and said hey I want to organize a dau fest knows like that's great you and other 14 people I cannot coordinate this let's launch it out so that's how it all started right after we did this I needed two terms transform this into a replicable simple process that people could do without asking me too many questions because I actually worked for it I was tagging the communications team and I can't just do Dao fests all the time right once I did this I turned this process this replicable process into an obvious proposal form so our proposal form has a set of actions that you can take it's only a few actions and it keeps the thing constrained and it kind of guides the worker the Creator in the process of organizing at Outfest itself workers get dow tokens for their hours reputation and money and they contribute work hours in if you do it well if the game is fun to play and you attract people your solution is going to soon be everywhere and acceleration of this has taken us by surprise completely I'm gonna show you some numbers and then once you have relevance once the solution is everywhere and your name is known you can create new verticals right so let's break it down the solution the case of Dow fast you got to make sure that everybody knows the why and the what from the get-go so contrary to a Dow like Genesis where anyone can show up and propose anything that they want to do in a fast I'll we do one thing we're like a bakery we make bread that's it right we keep it simple it makes sense and I think success increases for clarity psychological safety that being the most important one people shouldn't go through too much internal drama to feel like they can be a part of your system is should be welcoming and a well-documented scaffold approach right the scaffolded approach so if people can't actually if a very interested person can figure it out by it themselves that's all the much better so they initiators job is basic to design this game to have a very simple replicable process a set of defined actions boom boom boom right I look at the organization I know where I fit ah that's my talent I'm gonna do that right so it's a machine of engaging personal talent for collective gains just one comment how do you keep it in place because we're we're not changing anything in the DAO side that that was the same doubt the same that was Genesis the same as any other down how do you keep this in place you hold it in place by culture the initiators are gonna have more rap in the beginning and you keep it in place by culture so the goal here is to get rid of any subjectivity in relation to monetary values or how much reputation to ask for things every action has a specific payout both financial and reputation it becomes sort of like a game you can actually get someone addicted into running doubt fests I think it happened to Jason over there a little bit it took like half of Southeast Asia but the thing is in the initial stage when you launch this sort of a doubt this own chain cooperative that is worker owned your client our is the Creator the Creator is our client if you don't have people industry interested in playing your game with you and being part of your story you got nothing so humans are the most important part of this now and making it human interesting or interesting for humans is the most important part of this Dow at a beginner stage so therefore you build a decent onboarding platform which a lot of people forget to do so if you want to join the fest Ellen organized our fests or film them or help with them or do business development for the Dow or do anything that you think is useful for this now just go to dow fast art world and all the explanations will be there we've agreed on a couple of rules but nothing's set in stone is still a doubt proposed how we could do it differently put it up to a vote right so all of this structure all this culture that I suggested it's still nothing more than a framework it's not on chain it's just the way we've agreed to collaborate so here's how it works at the moment there's only about six seven eight different actions you can take and they have defined rep rewards and you've taken one of them today you attended adele fest so you have ten reputation points you can broke up at the dow if you kick back I will try to rap drop it to you as soon as possible but if you were one of it when I make my life easier just go to Java style ash fest down and hit us up with a proposal for 10 repetition points you've earned it right as long as you can prove that this wallet was here somehow by a kickback that works and then you have all the basic actions that you need to do at Outfest somebody has to be a lead organizer who is going to be really staked in making this thing happen he needs help from other people like co-organizers I'm gonna certainly recommend that Luke and Jason today get 20 reps for Co organizing this doubt fest and then I'm gonna get 30 rep because I'm doing a speech and Luke is gonna get 30 rep because he's doing your speech and so forth right there's a little bit of a correlation kind of like every work hour is approximately 2.5 reputation points that it's we are paying ourselves usually $20 and we're getting one fest for it that's how kind of the DAO works right now the fest is the doubt token so this is what we've done this was three months right so you can see the first Berlin Dow festive down there 160 people in August last year and then we organized the Hamburg one the Dow didn't exist yet we organized the Amsterdam in the Barcelona one that out didn't exist yet and the Dow gets launched mid mid October look what happens look what happens and I'm really not pushing for this I swear to God and we're getting like a steady rate of seven events per month do you know any other company in the web free space has been able to do this in any way it's pretty insane right and it's not a lot of people it's like eight folk ten folk 12 tops it's not that many people here's the number seven hundred twenty participants 31 events 96 workshops 14 countries 19 cities 30,000 300,000 people online in access through Twitter and rather reach modes of digital interaction and we have about 33 rep holders in the Dow right now that's pretty insane so if you think like a normal company like a legacy linear organization how much money would you need to get that kind of reach because we used six thousand two hundred and fifty dollars through the doubt it's pretty cool does work so if we keep at the same pace by the end of 2020 that would have been 310 talks or workshops 3,400 participants we will have used 55k and blah blah blah but it's not gonna keep it like this if there's one thing that nature and decentralization don't like is steady ratios like things stand it to either die out or growth right so can your doubt do this has your doubt done this look for those that have done this I think there's something in common between these doubts which is empowered swarm of enthusiasts right it's people enthusiasm being the key the key word here right so what is the offer of the Festa right now the new vertical that was born we proved that we can coordinate and organize a shit-ton of events yay what now there's real value at these events brands want to be part of these events right so now we're selling this very simple how to place your brand in a hundred plus event without around the world with just one on chain transaction that's the that's it tell your friends tell your company owner friends that this is a possibility and if you count how much this would cost and I'm not going to go through this here because this is not a commercial pitch you have like up to 70% in savings on the price of normal play so this is an actual like market product placement innovation made available by the coordination mode of dowse and there's many others and I want this type of Dow to be a template for any other idea that you guys can have so this is our like packages I'm not gonna go through this but they're organized and they make sense and if you want or if you know anybody who should want schedule a talk with me throughout the week or Luke or Jason and we would be happy to like present properly the pitch tank right so what's the future what are we trying to build right now every work hour is worth twenty dollars doesn't matter how much you think you're special you'll get twenty dollars and that's it and you get one fast token right but this is a temporary stage we want to actually move forward we want to let the worker choose their stake percentage so we want to give you the option of taking all your money out or taking a percentage of your hours or as fast tokens and this will give you the only way to get dividends in the future this will define the future value of your work hours and this will give you governance privileges right so what do I mean by defining the future value of your work hours it's a little curve a fast is not made equal if I hold a fast if or actually an hour is not made equal my hour has a value defined by the amount of fast I hold so the amount of hours that I worked unpaid for the doubt make my pay our paid hours worth more basically as I work and I get paid I choose my stake percentage I can say 100% and get all the money or I can get more fast and make my future or hours be worth more money but let's say that I'm in a pinch I need to pay some bills I can burn fast for wrap I can burn fast plus wrap for cashing out and going down the curve because I have less fast or I can burn it all together all the way down to ragequit this Dow stacked out which hasn't been possible before so that's what we want to design it's very simple and we're looking for technical support so if you're a Dow specialist specialist smart contract wizard maverick hit me up and let's design this these are my contacts first comers on any of the packages get 15% off and I hope this is an interesting idea for you guys have a good day how much we've got five minutes do you have any questions 15 I did this in five what I have happened I gave myself half an hour oh my god I'm horrible questions yes this is the important slide to gamify it right because there is an optimal range of how many fast you want to hold at one time so why does this make the down work even with zero money basically this is the sweat equity thing that fast token is not limited by cryptography fast token is limited by the laws of physics and the patience of men and human and women so if you're willing to work for free you can acquire fast fast will give you power over the future of this company and if you are one of the initiators you'll be collecting fast and you have zero cash if you prove your capacity to generate value and attract cash for it you have power over the cash it's simple as that but because the curve start starts like tapering off starts not being worth it you're incentivized to either find new people to join this organization or to keep cashing out a little bit and working back up cashing out a little bit working back up so there's creates a tendency for the DAO to work accumulate a coffer that then becomes collateral for this token itself and then you can create a secondary market for that tote so this is kind of like the idea that we want I can imagine it for anything that has a simple replica a replicable product so I could imagine like a could be a systems maintenance now like maintainer z' of systems that like people who are getting paid per hour to go check on systems for example just to think like this it's not too creative it's something that's replicable you can create a map for it it's like a down mechanical turk that if you find the right people to do the right thing they will do it even for free because they like it so it's a it's an intrinsic motivation exploit that can then create action an actual payoff for the people that were originally originally exploited if you know what I mean I did not have the privilege of watching Jason stock after Dow fests I usually spend a day my pajamas watching all the talks which I will do and but I right now like how does it work Jason when these investors come in what do they get for for this investment in a co-op percentage of profit oh sorry sorry sorry technology for questions and so we're seeing her [Music] so just to connect I'm trying to avoid having external expectations influence the the process of people interacting and creating value so that's why I kind of blocked the investor idea once I do build it this is not built by the way this this is barely understood by Pat who's my boss like this is the first time I'm talking about this in public so did once this is built we we can consider this as sort of a new primitive for for collaboration and then we can move forward I think I've seen you before [Music] wasn't easy okay my true joy with this would be that we would sometimes to thinking really high five years find some verticals that actually we would disrupt entrepreneurship we would actually make the the need for the entertainer and entrepreneur who like takes eighty percent of everything to himself because he set it up because he's the great warrior we would destroy this across several verticals and it would be like these big funds where people would know how to access now know how to produce the value know how to get their money that would be going up and down and this would be actually a defi pool that would be making money on itself and like there would be all it's like extreme automated gig economy where you could like now I want to learn how to be a photographer and then you go to the photography Dow and you'd like do basic photography you start by editing pictures and stuff and you make your money you keep the acai and then you just build your own professional joy out of interacting with these accumulated value capturing automated organizations that's kind of what the triangulation of the relationship between our rep and and value is is about like if you're faster okay you made a little bit of money on us if you're slow you're kind of lost a little bit of money but it kind of keep it tight it's all about like seating a little bit of common sense and and not trying to be a hundred percent on gamble but being like extremely hard to completely game so that that's that's another talk that I need to I need to talk to smarter people than me to see how everything is gonna play out but what I feel is that so let's say that the Dow has a million in the center right if I have a direct correlation between let's say that the Dow explodes and distributes all its dividends maybe we can have a kill switch somewhere then the potential value of this fast is could be like a thousand dollars but you can't access it because it's limited by the relationship between a rapid I said but if I have a bunch of rep and I don't have enough if I have a bunch of fast and I don't have enough rep or I have too much rap actually not enough fast I can buy fast from you when I can cash out so it's worth like twenty dollars to you but it's worth 70 for me so I can buy it from you and I can cash out at a higher valuation creating a giant incentive for a newcomer to work completely for free for the Dow so that the original founders can kind of eventually later cash up but I need to sit like in a mountain for hours and just like think of all that can happen limitations on sponsorships so there is actually like a pitch deck online if you go to the faster faster world and click sponsor you can get the pitch deck right now or if you go to now faster IO and click sponsor there's even a video and the limit they're not too innovative it's like putting your brand's on things online putting your brand's and physical things designing product demo for use to speaking at events and at the highest level designing your own dau fast series or like not called out fast something else is designing an event series for your brand yeah well that that would have to vote it but it's possible yes it's possible that they'll have to vote it and if the people that wanted to take the BP gig got voted out they could fork that down just do it that's the beauty of what we're doing all right thanks guys