With my understanding of how Moloch works, I am envisioning the following flow
- During “fund raising period”, each sponsorship joins the DAO and receives a share of OrochiDAO promotional to the contribution.
- If the total funding does not exceed enough to organise “The year of DAOs”, we just cancel the DAO so the sponsors get all the money back.
- If the total funding exceeds the cost of organising “The year of DAOs”, the OrochiDAO uses the excess to sponsor other events.
- During “Event proposal period, If other events want to receive sponsorship from OrochiDAO, the event organisers ask the existing OrochiDAO guild members (aka sponsors) to nominate them as a OrochiDAO membership with the amount of share equal to the sponsorship cost (the event organisers don’t have to pay anything).
- During “Voting period”, The existing DAO members vote for the membership proposal.
- Once it gets approved, the event organisers join the DAO with the share.
- When the event organiser wants to withdraw the sponsorship to cover the event cost, then they burn their share in exchange for the sponsorship. Most of the case, you are encouraged to leave 1 share so that you can make further proposal without repeating step #4.
And the following parameters can be changed
- Voting period
- Grieving period
- Amount of deposit to submit proposal
- Minimum sponsorship contribution
- Unit of currency (any ERC 20 but mostly likely DAI)
@pet3rpan @jamesyoung is this more less how it works? Would be nice if there are easy ways to visualise how share dilution occurs at each step though.