DAO Discovery: Twitter Spaces with SyndicateDAO — Summary
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Will is the co-founder of SyndicateDAO, which helps people set up an investment DAO and democratises access to it.
He was involved in ConstitutionDAO in the core team and set up the compliance infrastructure and was a coordinating party in getting it listed on Sotherbys.
He is fluent in speaking about topics such as investment DAOs, community of DAOs and history of DAOs.
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Q: How would you describe the distinction between an investment and community DAO?
The simplest distinction is the expectation of profit.
In an investment DAO you’re putting money in and expecting to get a return and usually you own what they’re investing in, or receiving distributions from the treasury from the profits.
Community DAOs don’t have a profit motive. You’re putting in money or acquiring governance tokens because you believe in the mission and you want to have a voice (RugRadio is an example). Participants are looking to further the ecosystem and support the growth of the NFT community.
A good example of Community DAOs are the life sciences DAOs that are funding research right now. You’re not buying rights in the IP in the underlying research but you’re determining what the funds are spent on. Because having a say in the community can matter a lot in how that community succeeds, even if you’re not getting profits back.
Q: What are the differences between SyndicateDAO, Flamingo and Looks?
Q: What would be the things about Syndicate that make it less prone to running into compliance issues?
In the case of Syndicate they structure everything as investment clubs, so you don’t need to be an accredited investor and you can put money in irrespective of accreditation.
The only downside is that everyone has to vote, but voting is loosely defined.
There are lots of things outside of governance that count as active participation. Voting can be as loose as putting an emoji on a Discord thread.
You also can’t publicly…
