[PASSED] zkDAO - Accelerating the Mass Adoption of Crypto for Financial Sovereignty

Proposal Title: zkDAO - Accelerating the Mass Adoption of Crypto for Financial Sovereignty

Authors: Alex Gluchowski, Marco Cora, and Zoé Gadsden from Matter Labs & Jon Allen from Mirana Ventures

Date: January 6th, 2022

Highlights:

  • This proposal is intended to promote Ethereum scalability and adoption of zkSync as a Layer2 scaling solution (utilized by dapps, tools, exchanges, etc…)

  • zkSync will fully decentralize governance of its platform, and open source all development making this the scaling solution most aligned with the crypto community and BitDAO ethos currently being deployed

  • The team will provide a scaling solution and tools for BitDAO and DAOs in general.

  • Initial mandate: grants 7.5%, security/audit 7.5%, strategic capital 70%, R&D 5%, education 5%, operations 5%.

  • Commitment by BitDAO of $200M in various crypto assets across 5 tranches, first tranche being $40M, and subsequent tranches will be released based on achieved milestones and BitDAO governance vote approval.

  • Commitments from other parties are possible which may lead to dilution of BitDAO partner rights and voting rights in zkDAO. Major dilutions will be approved by the BitDAO representative and BitDAO governance vote.

  • BitDAO’s interests will be managed by the BitDAO representative, who can be replaced via BitDAO vote.

  • Why this makes sense for BitDAO: zkSync is likely to be a leader among ETH L2’s and is extremely aligned with BitDAO’s mission to support builders and empower the decentralized community. This partnership enables BitDAO to gain significant exposure to the zkSync ecosystem (via partner rights in zkDAO, and projects on zkSync which will be funded via strategic capital allocation).

Read the full proposal here

18 Likes

This proposal is far-sighted, but whether so much funding is needed, I want to hear more people’s opinions. Judging from the current information, I very much hope to reach a cooperation

I think the immediate need is clear, and a focus on open-source is something I appreciate seeing.

These tools will be developed with and then released to the wider community as a public good to be used by all DAOs.

Can’t stress enough how important I think this is. Directing market-share towards open-source projects has a cascading positive effect for society as a whole. I’m not convinced that every proposal needs to offer a quantifiable return when there are clear qualitative benefits and the BitDAO community is extended influence in the decision-making process. Which if I’m not mistaken is what’s being suggested by the representative and the steering committee?

Cypherpunk vibes are strong in this proposal

3 Likes

Hey! Just popping in to share some thoughts on this.

I’m one of the founders of Numio, we were the first mobile app to natively support zkR, and the first on zkSync. Huge advocate of zktech, and am thrilled to review this proposal! Overall, this was very well written, and many of the questions I initially had written down ended up being answered directly in the doc- so great work ML & BitDAO!

I think the most difficult thing as a part of this process and proposal is determining who will be best fit to help govern/vote as a part of zkDAO, and not dealing with freeloaders. This seems like something similar to the LAO or MetaCartel, but to be solely focused around zkSync. It may be worth speaking with those teams about operations and learn from their mistakes/lessons.

With this being zkSync focused, how do you plan to bring in builders, innovative, investors, and educators around zktech into this DAO to participate in the Steering/Voting Committee (though I don’t know what it should be called as both are planned to be dissolved in the future)?

5 Likes

@JonAllen Great news!!

BitDAO Æmbassy (a BitDAO Ecosystem Community) is mobilizing and we would like to host you on our very 1st Community LiveStream AMA. This would be multi-streamed to our super fresh BitDAO Æmbassy YouTube Channel and potentially other channels (yet to be determined).

We have begun compiling some initial community questions and will continue to do that while we finalize the Date/Time based upon your availability. Hoping to deliver this for the BitDAO Community here middle/late next week.

AMA Questions Intake Form: https://bitdao.to/ama-zkdao

Cheers,
~~yonks.eth (@yonksMeritverse.xyz)

2 Likes

agree!
This is a far sighted proposal.I like zksync’s team and technical skills very much.
I hope this proposal will bring fresh blood to bitdao

1 Like

If the last decade is Bitcoin standard, the next decade is ZKPs standard! It will be a great milestone to lead into the next chapter of crypto!

4 Likes

Hey @JonAllen ! I also made a proposal recently about mass adoption and scalability and I liked your idea too, let me know if you want future collaborations on our common goals. :grinning_face_with_smiling_eyes:

I’ve been following the zkSync project for a long time. I’m a big fan of zK techs and their applications, since the launch of Zcash and other projects on different platforms.

When I started investing in ENS names a few years ago I also acquired some domains with “zk[something]” for projects I was going to create and ended up not giving any continuity to it, and by coincidence or fate (lol) I own zkdao.org and zkdao.xyz, I would like to donate them to Matter Labs to give them some suitable purpose. If you can contact them and they are interested, let me know.

And now some doubts I had about your proposal, is it public knowledge that zkSync will have a native token, will there be any token swap programmed? Or will zkDAO have the same or different native token whose allocation will go to BitDAO?

5 Likes

I really like the team and technical capabilities of zksync. They bring innovation

1 Like

BitDAO Æmbassy|Community AMA|Jon Allen|zkDAO [Soft Proposal]|Wed 9:40a EST|12Jan2022

4 Likes

For all those interested in joining this AMA, if you have any questions regarding the soft proposal you can drop them here in the forum or submit via the AMA form here.

1 Like

This is a very promising project and I look forward to working with bitdao to build something interesting in the future!

1 Like

Fully agree, this partnership makes sense and is a great opportunity. The AMA is a great touch too - it’s important to get talking about these proposals and use the questions/responses from the community to develop ideas.

1 Like

Snapshot vote for BIP-7 zkDAO is live!

https://snapshot.org/#/bitdao.eth/proposal/0x7f1ec601bf9d95855a38b141a3d393e41ae12be4ccba4c5615b6b6ec0261a844

The proposal has been updated with translations in 7 languages. A huge thanks to all of the community members who assisted throughout the process :pray:

3 Likes

ZkDao could serve as the Governance and ZkSync purely tech related. No needs to release a governance token for that. Non-Transferable NFT could serve this purpose.

1 Like

BIP-7: zkDAO is approved and will receive $200M in funding from the BitDAO treasury. zkDAO marks a watershed moment for the growth of zkSync and the collective effort to scale Ethereum and beyond. To learn more, visit https://bit.ly/zkdao

This is fantastic. I can’t wait to see the future of ZkSync.

1 Like

zksync is undoubtedly the most mature in L2 at the moment, and its ecology is growing fast. If there is a fund to support it, I believe it will accelerate its development, and I am looking forward to the empowerment of zkDao, bitDao

1 Like

Excited! Can’t wait for the future!

1 Like