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xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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In part 10, let’s talk about DAO toolings.
TL;DR
Tools are important but under or over tools are a disaster to DAOs. Your team will go through a process to filter the one you want to work on and add along with the one to increase its capacity.
Work in Agile
The key difference between Agile and other delivery methods is that Agile is a trial and error process while rolling out products at the same time. The most effective team is a small team size that carries out products at the initial stage.
What is a Tool
Tools can make your work efficient or they can make your work more miserable. There is a constant complaint in DAO about the lack of tooling. However, I see the Web3 space has so many tools and there are few meaningful tools that actually serve the purpose.
Tooling Sea
Every tool has a period of trial and error. Because no one will know how well the tool works in your DAO until trying it out. When you invest time into the tool, it is hard to get out and switch to another one because the investment was already exhausted. You do not want to have every single piece of operation with a tool or there is separated data scattered around in different toolboxes that creates another task to try to find where they are at.
Few Tools
Rather than implement every tool into the DAO process, perhaps identify key tools to test out first. During the trial and error process, team members keep seeking a better way to retain key data that can make decisions on.
No Perfect Tool
There is not a perfect tool to work for all. It depends on the team to determine a tool that can most effectively resolve key issues at the DAO. It is even better if the team can create their own tools for their own needs. There is not yet a place where people can create their own tools with open-source codes and platforms that people can share their feedback on.
Tool for Confidence Building
The key issue working in the DAO is building trust. In the decentralized space, trust cannot be easily assumed. It needs a way to validate such trust first and build on it. The tool can provide a viable way to build trust within.
For instance, Discord is commonplace for DAOs to communicate and contribute. It is also a place to build members with trust. By chatting with each other, people seek trust and delegate tasks to each other while trying to complete tasks. If trust can build and reputation can easily be valid through the process, such a tool can be an essential part of the DAO.
Over Tooling
You will know when you have over tooling at the point you spend more time researching information rather than making progress on tasks. Over tooling is as bad as under tooling. Under tooling makes information sharing become asymmetric, but over tooling also makes information sharing become asymmetric.
The key is to find a perfect spot of tools that your DAO needs. Of course, through the trial and error process, you will rely more on the initial tools you pick and increase a few more tools to assist the initial ones.
In Conclusion
There is no one perfect tool to work in every condition. It is a process to determine the one you want to invest in and find additional tools to work together to build trust in a decentralized space.
Stay tuned for the next part of the DAO discussion!
In part 10, let’s talk about DAO toolings.
TL;DR
Tools are important but under or over tools are a disaster to DAOs. Your team will go through a process to filter the one you want to work on and add along with the one to increase its capacity.
Work in Agile
The key difference between Agile and other delivery methods is that Agile is a trial and error process while rolling out products at the same time. The most effective team is a small team size that carries out products at the initial stage.
What is a Tool
Tools can make your work efficient or they can make your work more miserable. There is a constant complaint in DAO about the lack of tooling. However, I see the Web3 space has so many tools and there are few meaningful tools that actually serve the purpose.
Tooling Sea
Every tool has a period of trial and error. Because no one will know how well the tool works in your DAO until trying it out. When you invest time into the tool, it is hard to get out and switch to another one because the investment was already exhausted. You do not want to have every single piece of operation with a tool or there is separated data scattered around in different toolboxes that creates another task to try to find where they are at.
Few Tools
Rather than implement every tool into the DAO process, perhaps identify key tools to test out first. During the trial and error process, team members keep seeking a better way to retain key data that can make decisions on.
No Perfect Tool
There is not a perfect tool to work for all. It depends on the team to determine a tool that can most effectively resolve key issues at the DAO. It is even better if the team can create their own tools for their own needs. There is not yet a place where people can create their own tools with open-source codes and platforms that people can share their feedback on.
Tool for Confidence Building
The key issue working in the DAO is building trust. In the decentralized space, trust cannot be easily assumed. It needs a way to validate such trust first and build on it. The tool can provide a viable way to build trust within.
For instance, Discord is commonplace for DAOs to communicate and contribute. It is also a place to build members with trust. By chatting with each other, people seek trust and delegate tasks to each other while trying to complete tasks. If trust can build and reputation can easily be valid through the process, such a tool can be an essential part of the DAO.
Over Tooling
You will know when you have over tooling at the point you spend more time researching information rather than making progress on tasks. Over tooling is as bad as under tooling. Under tooling makes information sharing become asymmetric, but over tooling also makes information sharing become asymmetric.
The key is to find a perfect spot of tools that your DAO needs. Of course, through the trial and error process, you will rely more on the initial tools you pick and increase a few more tools to assist the initial ones.
In Conclusion
There is no one perfect tool to work in every condition. It is a process to determine the one you want to invest in and find additional tools to work together to build trust in a decentralized space.
Stay tuned for the next part of the DAO discussion!
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