Blockchain based digital tools to run Decentralized Autonomous Organizations (DAOs)

Description

HYPHA DAO is a SaaS software developed on the Telos Blockchain to provide digital tools to run Decentralized Autonomous Organizations (DAOs). Essentially, Hypha DAO enables the building of DAOs.

Hypha DAO

Recognizing the evolving aspirations of the global workforce towards greater participation, transparency, autonomy, and better compensation, Hypha’s DAO toolkit addresses these needs in ways that help individuals, projects, and organizations achieve more together.

Hypha’s multi-faceted toolkit is designed to enable users to:

  • Harness the power of team-driven decisions
  • Incentivize team and community engagement
  • Accelerate project launches and scale with ease
  • Launch a network of organizations for impact at scale
  • Participate in a global impact collaboration network

Key features built on the blockchain include:

  • Collective Decision Making through proposals/policies for voting
  • Interoperable Multi-Token Currency
  • Role and Badge Archetypes with associated admin powers
  • Contribution Accounting & Budgeting
  • Multi-Sig Treasury Management
  • Governance & Compensation / Payouts

The range of use cases for Hypha’s DAO solution can be organized into the following segments:

  • Socio-Political: DAOs for democratic elections, future-of-cities, municipalities & mayoral compliments, political movements, and nation-building.
  • Socio-Economic: DAOs for commercial integrations, marketplaces, micro-enterprises, coops, conscious startups, and multi-stakeholder alignment.
  • Socio-Ecological: DAOs for bioregional fractals, indigenous practices & wisdom, biodynamic farms, ecovillages, and land stewardship.
  • Socio-Cultural: DAOs for subcultural groups, solar punk, gaming guilds, social change & norms, new ways of convening & living.
  • Socio-Psychological: DAOs for Gen Z and Millenials, mental health, wellness & well-being, meaningful work, mindset shifts, and new societal attitudes.

Key milestones of the project:

  • 2019 – Hypha DAO is founded
  • March 2020 – Hypha DAO releases its Alpha version DAO Platform
  • September 2022 – Hypha DAO receives a $850K USD grant from EOS Network Foundation, to fuel a powerful roadmap of new advanced features and to bring DAO tools to the EOS Community
  • October 2023 – Hypha DAO Beta launch – currently at 900+ members and 200+ DAOs enrolled

Please note: The DAO is not owned by anyone in particular based on its completely decentralized nature. Hypha DAO is registered as a Liechtenstein Venture Cooperative (LVC) in Liechtenstein under the name Hypha Genossenschaft, Birkenweg 6, 9490, Vaduz Liechtenstein

What are Decentralized Autonomous Organizations (DAOs)?

A DAO is a new concept that relates to how a new company could be formed with no central authority and just a set of rules, coded into the Blockchain to make the business happen.

Let us take an autonomous self-drive car, which is driving around the streets dropping off its latest rider.  After dropping the rider off, the car uses its profits for a trip to drive to a charging station to recharge its batteries.  Except for the initial programming, the car does not need outside help to determine how to operate and fulfil its role as a driverless car.

This is one “thought experiment” brought to you by former bitcoin contributor Mike Hearn in which he describes how bitcoin could help power leaderless organizations 30 plus years into the future.

What Hearn described is one future use case for a decentralized autonomous organization, or a DAO, an idea that swirled through the community not long after bitcoin was released in 2009. The thought is that if bitcoin can do away with financial middlemen, then maybe companies and other organizations can one day operate without hierarchical management.

So, DAO’s aim to program in code (Smart contracts), certain rules that a company would use from the beginning.

These smart contracts can be programmed to carry out a variety of tasks, such as doling out funds after a certain date or when a certain percentage of voters agree to fund a project.

Some followers say it can work for an organization where any sort of decision needs to be made, not just those related to money.  Essentially, they see it as a way to cryptographically guarantee democracy, where stakeholders can vote on adding new rules, changing the rules, or ousting a member, to name a few examples.

My personal opinion is similar to my views on decentralization as a whole.  There are obvious benefits to these types of organizations, but we are far too early in the maturity of Blockchain technology, and the maturity of our own selves when it comes to centralization.

Never the less, this is a great theory of which some people within the ecosystem are actively testing this and I am sure there will be some great use cases around this over time.

Taken from Commercializing Blockchain: Strategic Applications in the Real World

Benefits & Outcomes

Hypha’s DAO platform revolutionizes traditional organizational structures by leveraging blockchain (smart contracts) to eliminate single points of failure and foster community-driven participatory governance.

  • It provides open & transparent treasury management & compensation/payouts by being openly & immutably stored on the blockchain, which increases trust within and outside the DAO.
  • It also brings collective, open & transparent decision-making through voting of proposals/policies by being openly & immutably recorded on the blockchain, which can bring greater collective engagement from DAO members/contributors
  • Multi-signature solution for validating all key transactions on-chain for more security for the DAO’s resources.
  • Smart contracts for securely and automatically allocating admin rights to specific badges/roles for more efficiency in running the DAO.
  • Use of tokens for compensation, staking and voting rights, to provide multiple automated means of providing recognition and rewards to DAO members/contributors.
Links
Further Info

Hypha’s purpose is to build and deploy technological solutions and services to empower teams and organizations to collectively, transparently, and efficiently make decisions to Achieve More Together, and to enable the growth of a massive network of organizations to have a positive impact at scale on the current social and the environmental issues around the world.

Background to this purpose:

Hypha’s story is one of steadfast commitment, creative experimentation, and courageous exploration into uncharted horizons.

We formed in 2019 with a deep understanding that our existing systems are breaking down and our economic and governance systems are no longer fit for purpose. We envisaged an operating system for humanity that incentivises harmony with our planet. A living system that is informed by nature. In fact, the term Decentralized Autonomous Organizations isn’t the full story, it’s more of a Decentralized Human Organism a DHO

We started with the goal of building Seeds, an adaptable self-governed currency to incentivise the regeneration of our planet. We knew we could not build the new system from the old system so we felt we had to be decentralised from the beginning. There were no tools back in 2019 to run a truly decentralised team so we built the HyphaDao to allow us to coordinate ourselves, a space for transparent secure agreements and value exchange and used it for 4 years to build the product itself. So we used the DAO to build the DAO. Think of it as building a plane while flying a plane and not being able to see out the window. It’s been a journey but we have something which is very special as a result.

We envisage ourselves as the new planetary operating system, easy to use for every human focused on positive outcomes. A large-scale facilitator for the deployment of impact capital across the planet. A space where collective decision-making creates the conditions for the emergence of human collective intelligence. We are accelerating into a change point and our vision is the beautiful sunrise on the other side. System change.

Status

The project is Beta live and being used by a number of DAO’s post their Beta launch in 2023

This Use Case was submitted to CBRC in January 2024 and Verified by Antony

The CBRC Score of 88 has been awarded: “When you are building a totally Decentralised organisation, which will have decision making responsibilities, you need to have a very well defined structure, process and procedures in place to ensure the smooth running of the organisation. With Blockchain technology, you have a fantastic solution for the foundations of a DAO using an immutable ledger and smart contracts for enacting actions.”

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and to verify live on Ledger: Click Here

A more detailed understanding of the CBRC Score is available on Request

© Antony Welfare 2024

CBRC