I’ve just finished listening to the most recent Bankless interview with Rune Christensen and hearing Rune talking about a Maker becoming ‘a purpose driven DAO’. Rune Christensen attempts to set out the mission for Maker holders here. Its a ridiculously long read, but the gist is, he is trying to align the DAO with the purpose of making Maker and DAI a system that promotes ‘Clean Money’. Honestly I think its kind of a brilliant idea. Maker holders currently are only incentivized to be stewards of the Maker and DAI tokens and make sensible decisions about collateral etc. What Rune is doing is trying to set out a grander vision.
Rune outlines how its important for a DAO to crystallize around a shared purpose or vision, something that aligns all participants and makes the goals and mission clear. This is actually very common in the context of traditional large companies.
Sometimes a purpose is demonstrated in a short phrase, or even in a specific end goal.
Space X wants to "make humanity interplanetary" with cheap reusable space travel infrastructure.
Diageo America wants "be the most trusted and respected consumer goods company in the world"
Apple Incs corporate mission statement is " to bring the best personal computing products and support to students, educators, designers, scientists, engineers, businesspersons and consumers in over 140 countries around the world. ”
You can find a whole bunch of these mission statements from various companies and institutions here.
What we would consider the mission statement of PoolTogether DAO? I cant think of ever having seen one described. Rune points out in the podcast that a mission statement or purpose is one good way to strengthen the DAO against governance attacks. If a governance proposal comes through that is not aligned with the objectives/purpose of the community, it is more likely to be rejected.
I do think that generally most participants in our community get the idea of the protocol and what it is supposed to be. For me, the purpose of the product is to enable ‘a trustless savings account with positive gamified incentives to save more money’. This is just something i thought up right here, off the cuff, and is pretty crap imho. @leighton sets out a Vision for PT in the narrative guide.
I wondered if we could brainstorm a really short phrase that distills the essence of what PoolTogether DAO is supposed to be and what we should keep in mind when implementing governance proposals in general. What is our purpose?
I certainly know what our purpose is not. To enrich token holders at the expense of user deposits and pool growth. But perhaps we can design a purpose that is representative of poth parties benefitting simultaneously, aligning all incentives.
“Does this proposal meet the objective(s) of the overall community mission statement?” should be a question everybody asks when voting on a proposal.
Im sure PT Inc team themselves have some ideas here about what they are trying to do. But maybe the DAOs purpose is slightly different. Or maybe its the exact same? I don’t know! Any ideas?