What exactly is MolochDAO, which is favored by Vitalik and other founders of Ethereum?
Author | Qin Xiaofeng
Editor | Lu Xiaoming
Produced | Odaily
(picture fromCointelegraph）
according toCoindeskAuthor | Qin Xiaofeng
Editor | Lu XiaomingProduced | Odailyimage description
(picture from
according to
According to reports, the Ethereum project Moloch DAO has recently received a total of 1,000 ETH funding from Ethereum founders Vitalik Buterin (V God) and Joseph Lubin (now the founder of ConsenSys); in addition, ConsenSys and other personnel from the Ethereum Foundation also A total of more than 2,000 ETH was donated. As of now, the Moloch DAO fund pool is worth more than $1 million.
Moloch DAO is an Ethereum fund plan initiated by 22 members including Spankchain CEO Ameen Soleimani of the Ethereum platform, which aims to provide financial support (crowdfunding) for Ethereum infrastructure projects. according to
Moloch DAO white paper
, the program's immediate goal is to fund the development of Ethereum's blockchain replacement, Ethereum 2.0.
The operating mechanism of Moloch DAO is that interested parties can send (donate) a certain amount of ETH to the system, and existing members vote to decide whether to accept them as members. Members can submit funding proposals to the platform and vote on other funding proposals from other members in the system (minority obeys majority). After voting, Moloch DAO will provide financial support to certain projects.
according toCointelegraphIt is worth mentioning that Moloch DAO members are anonymous; voting and donating ETH are all done on the chain, and voting rights are determined according to the amount of ETH donated. If a member holds a large number of voting rights and makes a "wrong" investment decision, other members can choose to withdraw; at that time, the ETH funds in the fund pool will be allocated according to the proportion of voting rights.
Current Moloch DAO members will now have a week to vote on whether to accept the donation. If the donation is accepted, 20 donors including V God and Joseph Lubin will be elected as members of Moloch DAO.mediumAt present, it is more likely that Moloch DAO will finally accept donations. Because the newly added 4,000 ETH will double the project budget, which will help the project run better. In addition, project members do not resist Ethereum founders such as Vitalik.
Ameen Soleimani said: "It is encouraging to see the leaders of the Ethereum community join in, try out new coordination mechanisms, and push the Ethereum ecosystem forward."
"Moloch is a very innovative structure, and I hope it can take off and become an important factor in promoting the development of the entire Ethereum ecosystem," said Joseph Lubin, "My colleagues at ConsenSys and I are honored to be one of the many independent decision makers of Moloch. "
