ETHWarsaw makes an impact

As promised, we’re back after the ETHWarsaw event where we introduced the Wildland Governance Game to give an update on how the experiment went. Thank you to all people who took part and helped to make a collective impact!

What went down at ETHWarsaw

On the 1st and 2nd of September we put 100 000 GLM into the hands of ETHWarsaw’s participants and let them decide if they wanted to keep their tokens or donate them to a great cause and have some real impact. We wrote about the idea and explained the rules in more detail in this blog post. Those who chose not to withdraw their GLMs could vote for:

These were the full results:

This means, that four charities reached the 10% threshold and thanks to the leveraging mechanism they received the following donations:

  1. Ukraine - 2900 GLM raised by ETHWarsaw participants + 53 940 GLM matched by us,
  2. Signal - 900 GLM raised by ETHWarsaw participants + 16 740 GLM matched by us,
  3. The Internet Archive - 600 GLM raised by ETHWarsaw participants + 11 160 GLM matched by us,
  4. The Tor Project - 600 GLM raised by ETHWarsaw participants + 11 160 GLM matched by us.

This means that we gave away a total of 98 thousand GLM to some great causes! You can track the donations on Etherscan. Thank you to all participants for taking part and deciding where the tokens should go.

How did this relate to Wildland?

Current governance frameworks are often plagued with many risks related to coin-voting governance (read more about these challenges here).

This is why we are 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.

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.

The Build Fund is the part of the UDO design from which the future development and promotion of Wildland will be financed. The Governance Game at ETHWarsaw showed a part of the idea: allocating your vote to one of a list of causes with the existence of a minimum threshold. You can find out more about the UDO by reading our introductory blog post.