The latest improvement in the Tezos Ecosystem DAO that you might have missed!
Aside from the recent “Trustless Business” update for Homebase, it has been a while since we discussed the Tezos Ecosystem DAO. However, rest assured that at Tezos Commons, we’ve been diligently working to incorporate community feedback and implement enhancements to make this initiative the best it can be.
In this article, I want to highlight a significant improvement to the Tezos Ecosystem DAO, which I believe has gone unnoticed by many. This new feature brings a new level of efficiency, transparency, and community involvement to how projects can be funded by the DAO. But let’s start from the beginning!
Tezos Ecosystem DAO — The first iteration
The initial iteration of the Tezos ecosystem DAO began as a proof of concept to provide an alternative source of funding within the Tezos ecosystem. It was governed by five key holders: Tezos Commons, Trilitech, Tezos Domains Foundation, Tezos Foundation, and Tezos India Foundation. Decisions were made based on community input from the Tezos Agora forum, with all opinions being considered equally, without any weighted influence.
Despite being in its early stages, the Tezos Ecosystem DAO successfully funded four different projects out of more than fifteen proposals, distributing a total of 14,750 tez (with another 5,000 pending deliverables). This achievement marked a promising start. However, we recognize the potential for improvement, and community feedback has been crucial in shaping the future of the Tezos Ecosystem DAO.
The New tez-Based Voting System
To enhance inclusivity and transparency in the funding process, the Tezos Ecosystem DAO has implemented a new tez-based voting system. This allows community members to vote on project proposals using their tez, giving them direct influence over the future of the Tezos ecosystem.
Rather than simply expressing opinions on Tezos Agora about whether a proposal should be funded, members can now cast “yes” or “no” votes through off-chain polls. The weight of each vote is proportional to the amount of tez held by the voter. Proposals that achieve a supermajority will then be executed by the key holders.
This system ensures that the Tezos community has a more direct say in funding decisions and that those decisions are made by those who have a vested interest in the success of the Tezos ecosystem. By enabling this new voting system, the DAO not only empowers the community but also encourages broader participation in the governance of the Tezos Ecosystem DAO.
As we have emphasized from the beginning, the Tezos Ecosystem DAO is a community-driven initiative that will continue to evolve based on your feedback. This is not the final version, and we will keep working on improvements until the DAO becomes a self-sustainable and fully decentralized project. The introduction of tez-based voting is a significant step in the right direction.
However, for this system to function effectively, your participation is crucial. Voting is based on a supermajority, so low participation could result in suboptimal proposals being funded. Don’t let this happen — cast your votes and help shape the future of the Tezos ecosystem.
If you’re a developer, artist, or entrepreneur with a groundbreaking idea that could benefit the Tezos ecosystem, now is the time to apply for funding from the Tezos Ecosystem DAO. With the new tez-based voting system in place, you will have the opportunity to showcase your project to the entire Tezos community and secure the funding you need to turn your vision into reality. Get involved, vote, and propose — together, we can shape a better future for the Tezos ecosystem.
Ecosystem DAO 2.0: Empowering the Tezos Community with Tez-Based Voting was originally published in Tezos Commons on Medium, where people are continuing the conversation by highlighting and responding to this story.
