At Wildland, we are very passionate about creating a better decentralized governance model: the current frameworks are often plagued with many risks related to coin-voting governance (read more about these challenges here).
This is why we have been working on an alternative to the current setup: the User-Defined Organization. This novel governance framework aims to give users effective control over the protocols, software, and platforms they rely on. The central assumption behind the UDO is that there should be a strict tie between the platform’s governance and its usage.
Putting theory into practice at ETHWarsaw
Any potentially good idea needs some experimenting first. As you may have seen, we’ve recently been gaining some valuable insights into our ideas: you can check out two reports on Wildland and our novel governance framework from BlockScience and RadicalxChange.
Now its time to take the theory and put it into practice and we have the perfect opportunity to do so: the ETHWarsaw hackathon and conference (1-4th September).
During the event, we will be running an exciting experiment - the Wildland Governance Game. We are putting 100 000 GLM into the hands of ETHWarsaw’s participants and letting them decide if they want to keep their tokens or donate them to a great cause and have some real impact. You can only play the game if you get a QR code from us directly, so if you’re planning to be at ETHWarsaw then definitely come by our booth!
How does the game relate to the future of Wildland?
GLM is a native ERC-20 token of the Golem network. Part of our mission is to explore and develop new use cases for the token, and our governance framework - the User-Defined Organization - is a great example of this. The Wildland Governance Game could be a great way of introducing you how parts of our framework will work.
Each payment made on the future Wildland storage marketplace will be divided into three parts: the service fee, the Proof-of-Usage fee, and the build fee. The Proof-of-Usage fee will be converted through a GLM-burning mechanism into PoU tokens at a 1:1 ratio, which introduces scarcity.
This brings us to the Build Fund - part of the UDO design from which the future development and promotion of Wildland will be financed. Our Governance Game at ETHWarsaw is quite similar to this framework. This gives participants a unique chance to get some hands-on experience in decentralized governance, and what will be one of the building blocks of Wildland.
But this is not just an experiment. The Wildland Governance Game is a great opportunity to do some good thorugh collaboration by donating to some very important causes and gaining leverage:
- supporting Ukrainians at war with Aid for Ukraine
- securing digital freedom through the Electronic Frontier Foundation
- supporting the non-profit digital library Internet Archive
- fighting against factory farming with The Humane League
- supporting Signal
- ensuring the positive impact of future AI through the Machine Intelligence Research Institute
- fighting against malaria with Against Malaria Foundation
- supporting the Tor Project
- building a future for children with UNICEF
- supporting Qubes OS
So how does it work?
These are the rules of our game:
- You register for the game by scanning a QR code you received at our booth and signing the message with your wallet.
- You then receive 100 GLM. You can either withdraw it into your wallet, or donate it to one of 10 proposed charities.
- If you decide to donate your GLMs, you can change your vote as many times as you like before the game ends and preview expected results. However, if you withdraw the money, you cannot vote again.
- At the end of the game all allocations will be frozen. The final funding will be distributed in the following way:
- claimed GLMs are sent to the participants that decided to take their GLM and not participate in funding non-profit organisations;
- all projects with less than 10% of allocation (votes) get nothing;
- all GLMs that were not claimed will be distributed among the projects with 10% or more allocation (votes) - that includes everything that was not given out to participants from the total budget;
- all projects with 10% or more allocation get their share proportional to their share among all projects with 10% or more allocation (more on that below)
Now to explain how the leverage mechanism works: due to the game’s mechanics, if you donate 100 GLM to a project that is above 10% threshold, it will be matched with at least 50 GLM by us. This leverage will be much higher if there are less participants who donate and if there are numerous projects below the 10% threshold. You are able to see what the exact leverage of your funds is in the app! We’ve estimated that for most likely outcomes your donation will be doubled or even tripled! Please note that your leverage depends on the behaviour of other participants, so keep track of what’s going on and remember that until the end of the game you are able to change your vote as many times as you wish!
If you plan on being at ETHWarsaw, see you at our booth! For those who won’t be there but are interested in the game, keep your eyes peeled for some more content we’ll be posting soon, as well as an update on how the experiment went.