Hey there! MSQ - Safe ICP Wallet team here.
Today we’ve released our own DAO called Fort Major.
We needed to scale our team a long time ago and now we can do that with class.
The DAO software itself is roughly a mix of Jira, Gitcoin and NNS.
Just like in Jira, we progress by creating and solving tasks. Each task, like in Gitcoin, has a reward attached to it. Whoever solves the task, gets the reward. Similar to NNS, decisions on whether the task was solved or not is made via voting.
The reward consists of two parts: Hours and Storypoints, each of which you can immediately swap for our token - FMJ. FMJ is just a regular ICRC-1 token, with which you can do whatever you want - hold, sell, gift, etc. Unlike many other DAOs, FMJ does not give you the voting power. There is not FMJ treasury - new tokens are minted each time you swap into them. So the tokenomics is inflation-based.
Each time you solve a task, you have a right to request some amount of reputation to be also minted for you. Reputation is a soulbound token (you can’t buy it or sell it) and this token gives you the voting power and represents your DAO share in general. Reputation slowly decays when you’re inactive. By defining the ownership rules this way we hope to achieve a fair and exciting environment, where all the decisions are made by the same people who helped building the thing.
Unlike many other DAOs, the team and the community (we call it the contributors) are in exactly the same boat. No FMJ or Reputation is issued just “as dev team bonus”. No FMJ or Reputation is issued to investors (we simply don’t have any). Every single piece of benefit is minted through solving tasks. The team does not even bound by any legal contracts - we expect the software to allow us to function safely and fairly.
The only difference between contributors and team members is that team members decide the direction in which the DAO goes, as only they can create new tasks and start votings. But that’s it - you don’t have to be a team member to posses reputation.
Just like in NNS, other major decisions in Fort Major DAO are also made via votings. Whether to allow a certain task to be solved or not, how much FMJ you get for a single Storypoint, whether to keep Sasha as a team member or to fire him for good (yes, you can do that, if you have enough reputation).
And just like in NNS, Fort Major DAO supports liquid democracy - you can delegate your voting power to other people on topics you’re not very good at. For example, if you feel confident evaluating solutions for Marketing-themed tasks, but you’re not very good at code, you can delegate evaluation of Development-themed tasks to someone else.
We’ve just released it and a lot of functionality is not yet in place. For example, there is no way to upgrade our canisters via votings yet, or to update the code of the MSQ Snap itself this way. But we’ll get there eventually. The most important thing - to be able to cooperate on some stuff that has to be done and split rewards fairly - is fully functioning.
Call To Action
Come check it out and tell us what you think in our Telegram. If you can’t find any suitable task for you, but you know you can help, let us know - we’re going to create a task for you together.
Ask me anything in this thread or give us a shout out on Twitter (X) - @msqwallet
Previous thread about MSQ is here.