Notes for the discussion for phase 2. Leave your idea below.
Strategy temporary group members: @Bruce_LXDAO, @Muxin_LXDAO, @Marcus, @Echo, @0x1998, @kahn.yuan, @liang, and Sally. A focused discussion aimed at improving efficiency with participation from experienced and active LXDAO builders who deeply understand LXDAO’s goals and ideas.
Key Challenges in LXDAO
Lack of Clear Narrative and Positioning (Critical Challenge)
- Disjointed Products with limited connection
- Difficulty in making informed project decisions
- Challenges in attracting investors and supporters
- Absence of Effective Branding and Promotion (Due to lack of clear narrative)
- New members face difficulty in onboarding and engaging with the DAO
- Dominance of Chinese community, resulting in limited cultural diversity and potentially imbalanced decision-making
- Current financial state makes it challenging to achieve long-term sustainability for the DAO.
External Advice from Web3 Experts and Advisors
- Emphasize on open-source and public goods in the current stage rather than profit-making. Providing valuable offerings can attract consistent builder participation.
- The community may become divided due to profit-sharing concerns.
- DAO may not be the most appropriate form for incubating a product with commercial potential. If such projects are identified, LXDAO can transfer them to entities like LXLabs for incubation.
- Open-source contributions are more suitable and actionable for a DAO.
- Seek funding from sources such as foundations or angel investors who have a long-term outlook. This will minimize future conflicts if the organization decides to focus on open-source and public goods.
- LXDAO should be a bridge and the preferred destination for Web2 developers transitioning to Web3. By establishing clear DAO rules and task lists, building connections with prominent projects and foundations, and helping developers onboard to Web3, it can contribute to top-notch Web3 projects.
- LXDAO can address the sustainability concerns for open-source projects and prevent incidents such as the tragedy of core-js.
- Web3 foundations have a lot of money and are eager to support genuine Web3 builders. Clear strategies and rules must be developed to ensure that builders fulfill their commitments.
Internal Discussion Notes
Key Questions to Consider
What are the most innovative and unique Web3 native products in your opinion?
- Bruce: Uniswap, MetaMask, ENS, CryptoPhunks, and MakerDAO
- Liang: IPFS, Ethereum, and TornadoCash
- Muxin: IPFS
- Marcus: BTC, ETH, Uniswap, Curve, MakerDAO, Yearn, and Ampl
- Echo: BTC, ETH, Uniswap, and CryptoKitties
- 1998: ENS, Nouns, and Zerion
- Kahn: DAO, and Uniswap
- Sally: ETH, Uniswap, and Dydx
Which projects align most closely with LXDAO’s mission, core values, and vision?
- Bruce: revoke.cash, Ethers.js, guild.xyz, OpenZeppelin, and snapshot
- Liang: GCLX, MyFirstNFT, and MobyMask
- Muxin: revoke.cash
- Marcus: Gitcoin, GCLX, and MyFirstNFT
- Echo: Gitcoin
- 1998: Gitcoin
- Kahn: GCLX
- Sally: Github, and Wiki
What are the defining characteristics of LXDAO?
- Bruce: A LX R&D-focused DAO in Web3
- Liang: LX + R&D
- Muxin: LX + Web3 Native
- Marcus: LX + OpenSource Community
- Echo: Sustainable Buidler Community
- 1998: LX
- Kahn: LX + buidl
- Sally: OpenSource Web3 developer community
What is the purpose and mission of LXDAO?
Bringing together buidlers to buidl and maintain “LX” (Valuable) projects for Web3, in a sustainable manner.
Continuously lift the industry standard with conscience and technology, establish a reputable image for Chinese developers in the Web3 world, and let “LX” be spread and recognized like “nihao”.
Gather more and more buidlers to do valuable things based on integrity that can drive the healthy development of Web3.
Bring more users into the Web3 world: Make Web3 products practical, valuable, impactful and less hyped.
Help buidlers find collaborators to turn ideas into reality, become the largest Web3 new project testing ground, making new product development easier.
Attract and gather more builder power through DAO to build things that are beneficial to the community together.
With the basic value of integrity, continuously build and create positive value for the web3 ecosystem.
Bringing open-source and standardized Web3 development tools and documentation to programmers and guiding everyone to create valuable products from a spiritual perspective.
What is the main storyline or positioning for LXDAO?
Attract more people to join Web3, use Web3 technology to re-structure and create a new network state, and influence and create value for the real world.
Address pressing problems that require “integrity and research & development strength”, develop open-source infrastructure tools, and develop popular science content. Based on influence, seek a long-term stable treasury income model. A project can either bring indirect monetization through influence or directly bring in treasury revenue. It can be referred to Gitcoin, but the focus is on web2 to web3 development onboarding and contribution to open-source projects. This way, there will be people to do things and it will be easier to produce results. The most successful integrity projects follow this path.
- Bringing more people into the world of Web3.
- Gathering the power of builders to work on things that are beneficial for the long-term development of Web3.
Together: Gather buidlers through conscience and open-source culture, gather buidlers to do ethical things in Web3.
Valuable: Develop valuable products that help the vast number of Web3 users.
Sustainable: Construct around the sustainability of products and product developers, the existence of products in Web3 is sustainable, and the existence of developers is sustainable.
When Buidler has ideas but doesn’t know how or lack of people to develop, they can find like-minded people to work together in LXDAO (Gitcoin solves the money problem, LXDAO solves the people problem).
- Attract and gather builders to form a sustainable DAO community (solve: gather development power)
- Onboard new web3 users, attract, educate, and impact (solve: new users enter the industry)
- Connect various ecosystems and users to allow users to enter the ecosystem faster and safer (solve: mature user cultivation)
- Improve and enrich the infrastructure of the web3 ecosystem (solve: directly contribute to the construction of the ecosystem)
- To gather individuals to build together under the umbrella of a DAO.
- Utilizing the unique characteristics of DAO (decentralization, openness, transparency, etc.), produce better-suited products (open-source, public goods, etc.).
- Achieve true sustainability (financial support to maintain the operation of the DAO, a complete governance mechanism to ensure that the DAO can continue to operate independently without relying on a person or a group of people).
What are the key products and initiatives within LXDAO?
Education (including users and developers), Web3 Native (providing a new Web3 and Network State life foundation for users), open-source development components, occupying the developer entrance in advance, and sustainably maintaining high-quality open-source projects.
Infrastructure project templates, infrastructure-class SDKs, EIPs and early implementation of new technologies (similar to MobyMask), education, tool-based product research and development.
- Education: Lead Web3 users to understand and learn about Web3 knowledge and increase the Web3 professional knowledge of builders.
- Open-Source: Open-source products and tools to make the Web3 developer community more open and grow together.
- Innovation: Technological innovation, innovative thinking, product innovation, to give Web3 more possibilities.
- Education-focused products: From Web2 to Web3, from people who don’t understand technology to Web3, even from people who don’t understand the Internet to Web3.
- Traffic entry products: Wallet-class, Social-class products.
- Innovation and technology exploration products; such as previous Dex, lending protocols.
Developer community. Provide an efficient team formation solution, provide basic design/operation resources and even smart contract code guidance to help Buidler turn their ideas into products.
- Education, task-based, user-friendly, incentivized, and compatible with multiple ecosystems education products.
- Independent products or projects that contribute to the community’s power, such as EIP-fun.
- Organize forces to participate in open-source community building.
- Encourage builders to initiate and explore new products that align with the values of LXDAO and provide support as much as possible. Products with commercial potential will be sent to LXDAO Labs for independent financing and incubation.
- Public Goods: Combining public-facing, familiar, and recognized models such as donations, charity, crowdsourcing, etc. with web3 products.
- Education: Education products for web2 to web3 transition; security education products.
- Tools: Open-source components and efficiency tools that can improve productivity.
- Developer community
What should be the focus for LXDAO in the coming period?
MyFirst series, EIPs Fun, Open Source contribution, etc.
Infrastructure, education-focused product development + operation for “impact” (content output), all products should have a clear mark of integrity, be impactful, and open-source.
Education-focused products based on integrity, open-source infrastructure tools, etc. can be the focus.
Innovative products are unpredictable and better if they happen, without investing too much effort into specialized research.
First, do education, then go to traffic entry (innovation is difficult to do).
Token economy-based team formation and collaboration model; Universal human resource pool to provide help for project cold start; A certain level of project learning resources and code guidance.
Buidl LXDAO value network, more human resources, the more people who come in to work, and more abundant the human resource pool, and the easier it is for new projects to take off and form a network effect in the DAO.
- Not limited to specific products, but the created products (public welfare or business) are worth the “conscience” label.
- Utilizing the advantages of products such as MobyMask and MyFirstLayer2 to accelerate internationalization and differentiate competition with Chinese DAOs.
- There will always be opportunities to create products, but resources are limited, so try to approach large institutions and foundations.
- To obtain support from a major blockchain and become one of the official developer communities, receiving regular funding for events such as developer hackathons.
- To improve a series of tools tailored for Web3, including developer onboarding, education, and collaboration.