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[ Grant Proposal ] to scale the Island DAO from a Governance DAO to a Venture DAO for Web 2/Web 3 tech projects across the Caribbean, CARICOM & the diaspora.
Objective:
The goal is to scale the Island DAO from a governance DAO to a (semi-decentralized) Venture DAO - investing in Web2/Web3 tech projects across the Caribbean, CARICOM, & the diaspora. It will pool capital from a diverse community, enabling collaborative decisions with limited centralised oversight. By leveraging decentralisation & traditional/blockchain technologies, the venture will drive innovation, economic growth, & technological advancement across the Caribbean.
Manifesto/Vision:
The Island DAO aims to scale into a semi-decentralized Venture DAO, enabling significant investments in high-impact Web2 & Web3 projects. By uniting the Caribbean diaspora in collective investment, we will drive sustainable economic growth & technological advancement, empowering individuals to fund initiatives aligned with local needs. Our mission is to transform traditional investment into a community-driven investment model focused on transparency, inclusivity, & shared responsibility. Aligned with CARICOM’s Point 9 for technological parity, we aim to support projects that drive innovation, education, & access to emerging technologies, fostering growth & bridging historical gaps.
Description:
The Island DAO will be a semi-decentralized organisation driving economic growth & tech advancement across the Caribbean, CARICOM, & diaspora regions. Combining the Caribbean Pardner system with Web2 & Web3 technologies, it addresses challenges like limited capital access & high costs. Through community-driven investments, smart contracts, & token sales, the Island DAO will empower local entrepreneurs, foster sustainable growth, & fund high-impact projects. Participants will help build a tech-enabled, prosperous future for the Caribbean & its global diaspora.
Problem:
The problem the Island DAO seeks to solve is multi-faceted & primarily revolves around the economic & technological marginalisation of the Caribbean community. Specifically, key issues include:
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Limited Access to Capital:
- Caribbean diaspora entrepreneurs face funding challenges as traditional systems often overlook their projects, stifling growth and innovation.
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Lack of Infrastructure for Technological Advancement:
- The Caribbean needs modern infrastructure & support to drive tech innovation & entrepreneurship, essential for reaching global economic & tech standards.
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Need for Sustainable Economic Growth:
- Historical marginalisation & underinvestment have hindered the Caribbean’s full economic potential, making sustainable development difficult.
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Absence of Community-Driven Investment Models:
- traditional investment models often exclude community input, leading to misaligned projects. The global Caribbean diaspora lacks transparent, equitable, and participatory ways to collectively invest in their community’s future.
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Alignment with Reparative Justice Goals:
- CARICOM’s Reparations Plan, Point 9, calls for technological upgrades for reparative justice, but gaps remain in initiatives that promote economic empowerment and tech-driven development in the region.
Solution:
The solution provided by the Island DAO is a semi decentralised, blockchain-based investment platform specifically designed to empower the Caribbean diaspora through community-driven funding for economic and technological development. Detailed as follows:
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Semi-decentralised Venture Capital Fund:
- The Island DAO will function as a semi-decentralized organisation that raises capital through a community-centric model inspired by the “Pardner” system, enabling Caribbean diaspora members to pool funds and invest in promising regional projects.
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Utilising Web2/Blockchain Technology:
- The Island DAO will use Web3 and blockchain for transparent and efficient governance. Smart contracts will automate rules, ensuring equitable fund distribution and accountability by recording all transactions.
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Investment in Web2 & Web3 Projects:
- The Island DAO will target high-growth, tech-driven projects in Web2 and Web3—like blockchain, crypto, and NFTs. By funding these initiatives, it will promote technological advancement and innovation in the Caribbean, enhancing regional competitiveness.
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Community-Driven Decision-Making:
- Members of the Island DAO will hold governance tokens, allowing them to influence funding decisions. This community-driven approach empowers the Caribbean diaspora to participate in regional economic development, ensuring investments align with local needs.
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Incorporating the Pardner System:
- The Island DAO’s funding model will draw inspiration from the traditional Caribbean Pardner system, fostering community engagement. By facilitating culturally resonant contributions, it will build trust and inclusivity while enabling smaller investors to participate in larger, impactful projects.
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Alignment with CARICOM’s Reparations Plan:
- Island DAO aligns with Point 9 of the CARICOM Reparations Plan by prioritising projects that support technological transfer and reparative justice. By focusing on tech and entrepreneurial initiatives, the DAO directly contributes to CARICOM’s goals of reducing economic disparity and fostering regional development.
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Token Sales and Rewards:
- To raise funds, Island DAO holds token sales, enabling anyone within the Caribbean diaspora to contribute to the fund. In return, contributors receive governance tokens, allowing them to vote on projects and participate in DAO activities. Rewards may also include access to exclusive events, educational resources, and networking opportunities, providing additional value for participants.
Island DAO’s solution will be a semi-decentralized investment model that empowers the Caribbean diaspora to drive sustainable growth by combining the “Pardner” system with blockchain technology and reparative justice goals, creating a transparent, community-led venture fund to address historical challenges.
Product:
Island DAO will be a semi-decentralized, blockchain-based investment platform enabling the Caribbean diaspora to collectively invest in regional growth and tech advancement. Accessible via web and mobile, members can contribute funds, vote on projects, and track progress transparently. Governance tokens will provide voting rights and access to events and educational resources, while smart contracts will automate governance and fund distribution. Focused on Web2 and Web3 projects aligned with the CARICOM Reparations Plan, the platform will use a Pardner-inspired model for contributions, raising capital for impactful projects that foster economic empowerment and reparative justice.
Validation:
The Island DAO will adapt the Caribbean Pardner system to a blockchain-based investment platform, ensuring transparency, security, and accountability through DeFi. Aligning with Point 9 of CARICOM’s Reparations Plan, it promotes technology transfer and economic empowerment. The Caribbean diaspora will find a transparent platform to support regional growth, leveraging proven models of community-led funding and the demand for sustainable investment for strong acceptance and impact.
Progress:
The Island DAO will be a semi-decentralized investment platform empowering the Caribbean, rooted in the Pardner system & aligned with CARICOM’s Reparations Plan. It will engage the diaspora for insights, establish governance models, & launch a beta platform for contributions. A token sale will grant governance tokens, driving economic growth & technological advancement through community-led investments.
Differentiation:
The Island DAO stands out from traditional investment platforms through its cultural relevance, community governance, and commitment to sustainable development. Utilizing a Pardner-inspired pooling model, it enables contributors to share resources and responsibility. Aligned with the CARICOM Reparations Plan, the DAO addresses socio-economic goals like reparative justice and equity. Its blockchain technology ensures transparency and security, while decentralized governance empowers token holders in investment decisions. By focusing on Web2 and Web3 projects, the Island DAO promotes technological adoption in the Caribbean and attracts socially conscious investors, providing a pathway for the diaspora to contribute to lasting economic growth.
Team:
The Island DAO team will consist of diverse professionals with expertise in blockchain, entrepreneurship, community engagement, finance, and project management. Each member will contribute unique skills to empower the Caribbean diaspora and promote sustainable development. The team will include financial experts in decentralized finance and venture capital, alongside community leaders knowledgeable about Caribbean culture and the Pardner system. Supported by legal advisors experienced in regulatory compliance, this multifaceted team will combine technical skills, cultural insight, and strategic vision to create a transparent, community-driven investment platform that aligns with the values of the Caribbean diaspora.
Grant Request $:
The Island DAO seeks a $10,000 grant to establish a transformative, community-driven investment platform that empowers the Caribbean diaspora & promotes sustainable regional development. This funding will support the development & launch of the DAO’s blockchain-based platform, focusing on essential components like smart contract creation & security audits to enable secure & accessible participation.
Additionally, the grant will fund community engagement initiatives, including workshops, digital literacy training, & outreach events across CARICOM nations & diaspora communities. These programs aim to build digital literacy, helping bridge the technology gap & empowering communities to access Web3 technologies & decentralised finance.A portion of the grant will also go towards pilot projects aligned with the CARICOM Reparations Plan, focusing on technological advancement, economic empowerment, & reparative justice. These pilot investments will showcase the DAO’s model, create high-impact projects, & address the Caribbean’s unique needs, such as entrepreneurship support. Further, the grant will enable strategic partnerships with local businesses, NGOs, & government agencies to foster a supportive ecosystem & ensure regional collaboration. Lastly, funds will be allocated to regulatory compliance & legal consulting, building a secure, compliant framework that instil confidence among contributors. This grant will help the Island DAO become a self-sustaining venture fund dedicated to advancing economic growth, technological innovation, & cultural empowerment for the Caribbean diaspora.
Funds:
The Ask is $10,000 (USD). The funding will be strategically allocated to ensure the successful launch and sustainability of the Island DAO, building a foundation for transformative impact in the Caribbean. A significant portion will go toward community engagement, encompassing educational programs, workshops, and digital literacy initiatives that empower the Caribbean diaspora to engage with Web3 and decentralised finance. Funding will also support pilot projects aligned with the CARICOM Reparations Plan, focusing on renewable energy and entrepreneurship, validating the DAO’s impact-driven investment model.
Additional funds will be allocated for strategic partnerships with local businesses, NGOs, and government agencies to enhance collaboration and ensure project alignment with regional needs. Legal and regulatory compliance consulting will ensure the DAO operates within local and international frameworks, fostering transparency and stakeholder confidence. Lastly, a portion will cover marketing and operational costs to build awareness and maintain DAO activities, paving the way for a self-sustaining, community-led investment platform that advances economic and technological growth across the Caribbean…
Help:
The Island DAO will focus on community engagement, relying on the Caribbean diaspora for insights & feedback. Strategic partnerships with local organisations, tech startups, & impact investors will strengthen its investment portfolio, while legal & financial advisors ensure governance & compliance. The DAO will seek funding for outreach and digital literacy initiatives to empower individuals in Web3 technologies, encouraging volunteer involvement to foster lasting economic and technological growth in the Caribbean.
Additional Resources:
- Island DAO Discord
ISLANDDAO - Webpage IslandDAO | Juicebox
- Caricom 10-point Plan for Reparatory Justice https://caricom.org/caricom-ten-point-plan-for-reparatory-justice/
- Pardner System Pardner Hand Exhibition Extended
Thank you for considering our proposal !
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