I Made a DAO, for Laughs. You, Plaintext reader, are welcome to join. All you need is a crypto wallet.
: the movement to create a new, decentralized version of the web based on blockchain technology. While I was there, mingling with some 10,000 crypto enthusiasts , I decided to dip into Web3 myself. So I created a DAO.
In practice, DAOs have not always worked so smoothly. The original DAO—named, simply, The DAO—had a vulnerability in its code that allowed someone tosome $50 million from its treasury. More recently, a group called Constitution DAO raised more than $40 million in Ethereum to buy an original copy of the US Constitution at auction.
Now that we had an idea, we had to build it. This presented all sorts of questions. For starters, how would we get people to join? Nathan, one of the devs, came up with a clever idea. Everyone who registered at the conference was given meal tickets in the form of a custom crypto token. We could scrape the blockchain for every wallet that held those meal tokens, then send those wallets some LMAO, which would grant them access.
A month later, lmaoDAO is chugging along. As I write this, there are 70 members, though most aren’t very active. We get somewhere between five and a dozen caption submissions per cartoon. We have yet to win the official contest . But every week, either Jacksón or I announce the launch of a new contest. Members submit their captions in Discord and then vote on them on a Web3 platform called Snapshot.
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