You no longer have an excuse to miss another governance vote if the decentralized autonomous organization (DAO) calls or texts you to pressure you to vote.
Notifi Network is banking on this concept to help improve the abysmal turnout rates in governance votes. Launched with Solana DAOs, it combines popular centralized methods used by the Web3 community, such as Telegram and Discord pings, with more traditional and hard-to-ignore notifications, such as phone calls, text messages, or emails.
Backed by cryptocurrency venture capital firms Race Capital and Hashed, on April 24 Notifi applied its notification service to all DAOs launching on the Solana Realms DAO platform.
Did someone ask for Telegram notifications??
hehehehe… looks like it’s already here pic.twitter.com/YCYefCiLIt
— Notifi (@NotifiNetwork) April 26, 2022
The founder of Notifi, Paul Kim, told Cointelegraph that the mission of his project is simple:
“We want to encourage communities to be more active. You have bought the tokens, so you should use them.”
Today, chat rooms on Telegram and Discord are among the most common ways DAO participants stay in touch with the project. However, Kim considers this method ineffective, since, according to him, “most users keep their crypto chats muted due to the high volume of messages.”
This makes it difficult for users to know when new proposals have been made in time to take a vote.
Kim hopes to turn the tide on low participation by allowing DAO participants in Realms to choose several ways to be notified when a governance proposal has been issued. These notifications could start with direct Telegram or Discord messages, but Kim said they can “escalate” to email, text, and even a phone call if they don’t respond initially.
Although email, SMS, and especially phone calls are not common means of communication in the Web 3.0 world, Kim believes they should play a very important role for DAOs.
“For some reason we skipped Web 2.0 email when we jumped to Web 3.0. Can we challenge Web 3.0 paradigms using Web 2.0 primitives?”
It is clear that there is a problem with voter participation in the Solana DAOs. According to data from DAO tracker DeepDAO, less than 1% of governance token holders in Solana’s top three DAOs – UXDProtocol (UXP), Mango DAO (MNGO), and Serum (SRM) – are active members. There are 500 DAOs in the Realms with a collective treasury value of $1.5 billion, according to Kim.
In a Notifi post on April 24, Solana Labs DAO software engineer Sebastian Bor agreed that notification services are not currently serving DAOs. He stated that “notifications are an integral part of informing community members about DAO activity.”
Over time, Kim said his service “could be used for all on-chain activity, including trades, airdrops, sales, and liquidation alerts.” However, for now “Realms is the testing ground” to find out if your solution can allow users to move away from their keyboard:
“We can’t wait to see what the data shows us and what trends really exist in the use of the messaging platform.”
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