DAO DeFi Now! - Bill Warren

welcome everybody to day seven of eath denver um i'm super excited to be emceeing for you today i got my uh marmot swag on ready for the day to get going and uh we have our first speaker up here uh they're gonna be talking about dow defy now with a exclamation point at the end please welcome william warren hey everybody thanks for joining me this morning if you're in m20 time thanks for making up early for you fellow east coasters thanks for tuning in yeah today i want to talk about als and d5 and how to start defying now right it's time for doubts to leverage defy and also for defy to leverage dows and we'll explore a little bit what that means so let's first start off with why dao so we've seen in the ecosystem a couple great use cases for daos you know the first is project funding basically an alternative way of funding your startup or project to get going a more community-centric way of funding so to speak there's also grants giving things like the original molok dao or mata cartel have given out hundreds of thousands in grants to ecosystem participants to get them off the ground there's also clubs clubs like metagama delta which has actually transitioned into a grants giving dow itself but it brings people together with similar interests and then finally we see lots of investment dows like the lao like meta cartel ventures that are putting serious money into the ecosystem when startups or projects are at a little bit later of a stage basically what i'm saying is dows work for a lot of different use cases and we're seeing a proliferation of dows in the space every year i feel like all of us downwards say this is the year of the dao well i'm pretty confident that 2021 will actually be the year where dao start to take off but what's important now is to consider how we use these styles and how we leverage d5 which 2020 was dominated by in order to supercharge these dows so you know again the future is down this will be the year of the dow and right now we're seeing one billion dollars locked in downs and thanks to deep down for their stats but that represents over 52 million in eth 34 million in usdc 10 million and die and then hundreds of millions in native tokens like pi for pi dow or m stable for m stable dow the list goes on and on what that really represents to me as a dow plus defy nerd is lost opportunity so if you look at ave and their stats on the last 30-day average yield on dye it's 10 take 10 of a hundred million dollars that's 10 million dollars over a year you know just looking at that smaller die number if all 34 million of that die had been invested in a d5 platform last year those pals would have had an extra three million dollars to use to advance their mission and that's what dells are all about accomplishing some goal whether that be social cohesion creating a project or being able to invest in new projects either through grants or more traditional investments you know that that also means it's a lost opportunity to reward users because maybe you want to give that interest back to the people that have committed their capital right there's no opportunity cost to participating in endow if you can earn yield just for tributing in your dye or usdc or eth and at the end of the day that's what motivated us to create pool party because we saw two things in the dao ecosystem one that taos were generally goal oriented but were set up to be run more like traditional organizations right but the most important thing of dao's is hitting that initial goal right getting enough of a little bit of money to do and pursue whatever that mission is the second thing we noticed about the dao ecosystem was lacking and which is the topic of this talk is that daos weren't leveraging defy instead you had all of this idle capital just sitting there and not working for the members not working for the dow so that's why we started pool party and i'd like to welcome you all to a party right now that we're combining thousand defy and what we've been doing at pool party is auto wrapping deposits into yield bearing tokens for our dows you know we started off in november with idle finance it's a great platform they optimize for yield across ave compound dxdy so really trusted protocols in order to give depositors the best possible yield for their dye or usdc or wbtc then instead of just giving that yield to the dow automatically we actually let users claim their share of the yield or leave it for the dao it really depends on the community and the mission of the dao you know you might feel a little guilty taking yield from a grants now where the mission is really to give back to the community on the other hand for a venture dow you might feel completely okay saying well this is just part of the investment that we're making and i am actively farming my share of the yield the other thing that we saw and did actually by accident we didn't think of this so you know don't credit us for any of this accomplishment but we realize that this allows also for passive yield farming you know again most people join a down not to just farm yield right you can go to harvest or badger or any number of great d5 platforms if you just want to like go it alone farm some yield instead remember dows are all kind of mission oriented they all have an objective that they want to accomplish so you know yield farming and managing treasury really actively isn't something that we wanted to put on the daos right or the dow managers instead right because we're auto wrapping tokens and putting it in a platform like idle which you know distributes idle for depositing in their pools that means the dow itself is actually farming idol and because idol uses compound right you're also farming comp which is pretty exciting that means you know you're farming at least two tokens when you use you know something like idol finance through one of our dows and maybe you know we'll still see you'll be farming a pool token in the future as well so you know our first step as pool party was really to create these custom dowels that were more goal focused were automatically farming yield on their deposits and would allow people to kind of come together and and truly kind of invest in a project or initiative that they wanted to take on thus far we've seen you know people use pool parties for eth2 staking we've seen it used for putting together some developer friends so that we pool party can improve the ux and experience of the site we've seen it being used to start a hacker villa which is an exciting experiment using pan that will create kind of a more regenerative hacker and hackathon ecosystem you know and we've also seen it being used for you know saving up for dope nfts nfts are getting expensive maybe you can't afford one on your own so dow it you know the next step that we're really excited about and we're announcing here is we want to let them all party so our mission was not to create an exclusive dow platform that didn't work with anything else you know we come from the malik ecosystem which is really uh you know despite the canaanite god of child sacrifice being the meme it's really an inclusive ecosystem where people work on creating value ads and working together so we're super excited to start the next step of pool party which is building helper contracts so that any dow at least in the molec ecosystem to start can start taking advantage of our defy rappers and again because we're familiar with idol finance we're going to start with them as well as ave since we're releasing our first kind of ave parties in the next week so you know look up for the because these opera contracts will any doubt whether you started on the pool party platform in which case you don't really need them or you've already created a dow through something like dao house to take advantage of defy as part of the member onboarding process and also managing your treasury in a simple way you know before i finish up since this is only a like short 15-minute talk i i do want to talk a little bit about the other side of the token so to speak you know hopefully i've convinced you that daoz and defy are a married or match made in ether i will call it um you know dao should be leveraging defy to help their members earn yield to help themselves earn yield and that's all well and great the other side of that token is why defy should be using daos you know i think for all of us in the crypto ecosystem we remember the defy summer we remember the rise of sushi and then we remembered the master chef drama where he set the kitchen on fire so to speak that doesn't happen so much when you have a dow to manage a protocol dows are a really powerful tool for coordinating communities that are pretty disparate and spread out with a doubt you don't need to necessarily know people's names or place of work or anything else you just need to have that community that can make collective decisions together efficiently it means that nobody can kind of run away with all the funds unless the community is really on board with that and if they are right that's up to the community but you know beyond the oversight it also creates another layer of engagement i'm a big believer in decentralized governance you know so a lot of d5 platforms are gradually and we hope to see more in the future embracing this notion of including all the stakeholders in the decision making and dowser a perfect way of doing that because you can have your users as part of the dow you can have you know investors or other backers as part of the dow you can have the core team as part of the dao all making decisions together in terms of how to use the project funds and the best way possible you know this is also a pretty easy way of setting up you know rewards for participation with a native token one of the pool parties that i haven't talked about we call it our no-fi party because it doesn't auto-wrap any tokens but it it's really built to do exactly this where you can have people join the dow by staking the native token and then you can set aside a stream of kind of rewards-based tokens using something like superfluid so that the people who participate actively in your dow's governance kind of still earn yield in the form of more governance tokens and we think that's a really powerful and special way of building trust in the community and also rewarding more and more of your stakeholders for getting actively involved in governance my final kind of plug for all the teams that are hacking on stuff at east denver without a doubt there will be some amazing projects and startups that are created right here in the next day or two it's never too early to just dow it whether you use dao house or pool party soon pool party will be on dao house but whatever you know dow platform you need to use just dow it create a dao from the outset for your project team you might only have two or three members of that dow at the outset being the kind of builders but it's an immediate way to bring more and more stakeholders into your project and if you're smart about it as those stakeholders come in put the funds into a defy protocol earn yield become even more self-sustaining so that's all i have for today if you want to come party with us you can check us out at pool pool dashparty.club you can also ate into our discord by hitting that qr code we're really excited for the future of daos and defy we think a lot going on here works pretty you know keen to see some interesting innovations coming down the pike thanks to you know d5 platforms releasing v2s and v3s with more and more ways to defy in creative ways and we're about to leverage all of those new creative tools for dows to increase yield increase user engagement and really supercharge their ability to accomplish their mesh awesome thank you so much on telegram or linkedin or wherever if you have any questions or want to connect thank you so much for the presentation bill just dao it is a term that everyone should be picking up as long as nike doesn't sue yes right just doubt it and stay away from nike and stay away from nike there you go all right thank you so much bill thank