Kyber

Liquidity for decentralized exchange DAO

Liquidity protocol for decentralized exchange of tokens.

Purpose of governance system

Allocation of a small ($5000) marketing and outreach budget.

Technology used

  • Communication: Telegram chats

  • Voting and reputation: DAOstack

Reason we chose that technology

Relationship, trying out new technology

Governed objects and mechanisms

  • Kyber allocated a budget for distribution through the DAOstack platform.

  • Community members made proposals for distribution of the funds, approved proposals were funded through the DAO.

With a small budget, the organization was able to fund a variety of initiatives, including community managers and outreach in countries where they did not have representation.

Generally the experiment was a success, gathering a tremendous amount of publicity for the organization and generating more marketing benefits than would normally have been available with such a small budget.

The main organization is still managed in a traditional centralized manner by the founders of Kyber, and the organization plans are to do additional experiments with DAO funding following the success of the experiment.

Findings

Detailed suggestions were submitted to DAOstack. Summaries are found in the Findings section of this document, collated with the similar suggestions from others.

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