- The firm focused on the Ethereum scaling protocol, Optimism PBC, announced the creation of its own DAO, called Optimism Collective.
- As part of the creation of this new DAO, the firm will release OP tokens to 267 thousand Ethereum wallet addresses.
- The Optimism Collective has a mission to collect the revenues produced by Optimism’s transaction prices and turn them into subsidies for “public goods”.
With the constant growth of the digital assets market, several companies have started to create or acquire new products, to respond to the demand of their users within their respective platforms.
One of the resources used in the crypto environment are the Decentralized Autonomous Organizations, better known as DAO. These are basically organizations directed through rules encoded in smart contracts, which limits the control of a few in their governance, since they make their decisions collectively and commonly use the native token of a group to carry it. finished.
These organizations have become popular in the crypto ecosystem for being one more step that brings the community closer to decentralization, which is why several companies have opted for them. One of these is Optimism PBCdeveloper firm of the Ethereum scaling protocol of the same name, which recently announced that it had developed its own DAO, called Optimism Collective.
As part of the creation of this new DAO, the firm will release OP tokens to 267 thousand Ethereum wallet addresses for DAO governance.
Management of public goods
This new DAO has the mission of collecting the revenues produced by Optimism’s transaction prices and converting them into subsidies for “public goods”.
The middle Decrypt points out that while in the real world the term public goods are things that are basically not owned by a particular person, such as the infrastructure of a city, public transport, poles or sidewalks, andn a digital environment, public goods are open source software and contentthat is, code of a program that is distributed freely and that can be used and modified by users without any restriction, since, as in the real world, it does not belong to anyone, but it can be used by everyone.
From Optimism’s point of view, its protocol is a public good, just like the Ethereum network.
“Optimism Collective is the perfect tool to dispel the myth that public goods cannot be profitable”noted the Optimism Foundation in a post on its official blogand added “The Collective will consistently and relentlessly provide massive retroactive incentives for public goods that benefit Optimism, Ethereum and the Collective as a whole“.
Organization of Optimism Collective.
For its correct operation, Optimism Collective is divided into two sections or “houses”.
The first of them, “TokenHouse”, will be in charge of topics such as treasury allocation, software updates and incentive structure. For its part, the “Citizens’ House” It is in charge of ensuring that public goods funds are distributed correctly.
Both sections will use quadratic voting, concept defended by Vitalik Buterin, creator of Ethereum and developed with the firm objective of lessening the impact of large-scale token holders.
It should be noted that unlike other DAO projects, in which token voting is allowed, quadratic voting has some subtle differences, such as the fact that each additional vote has a higher value than the previous one. For example if someone votes for something twice, it would not have the value of two tokens, but say, five.
About, Buterin wrote on his official Twitter account, that the Collective is “presumably the largest attempt to date to achieve non-token-holder centric DAO governance“.
Similarly, current Optimism PBC product manager Bobby Dresser noted that the goal of presenting OP is to make it easier to help crypto scale.
“ANDhe road to a superchain should be paved with public goods“, he tweeted.
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