Not so long ago we did posts about what a DAO is and how it works, and now we'll take a closer look at the DAO that is forming on Solana and creating an entire ecosystem of protocols - Tribeca DAO.
Tribeca is an open source protocol for running decentralized autonomous organizations (DAOs) on Solana. It is based on the Compound and Curve management models.
Tribeca is built and maintained by developers from several protocols on Solana, including: Arrow, aSOL, Atrix, Cashio, CLB, Crate, Delta One, Friktion, Goki, Pole, Port, Quarry, Saber, Sencha, Serum, Ship, Sunny and Traction.
In hot news, the Saber protocol has announced the formation of a DAO, and Sunny Agregator has also stepped up to the plate. Tribeca is helping them with the formation of the DAO.
Solana applications have historically been relatively centralized compared to their Ethereum counterparts. The smart contract code is often closed-source and teams are free to update the software. Creating open and decentralized code can be problematic because of the lack of common tools that developers use.
Tribeca might solve this problem by creating a powerful but extensible governance structure. The first release of Tribeca will include a voting system combined with a system for creating and managing propositions, similar to Compound. Tribeca will also have an optional primitive for voting lock tokens to encourage long-term stacking, similar to veCRV.
The main goal is to create high quality control products for all protocols. More and more protocols will be able to give their users maximum capabilities, i.e., teams will run tokens faster as the barriers to creating DAOs can dramatically dissolve.
We think this is a very worthy example of creating a cross-liquidity ecosystem combined with a clear governance structure. And also to attract other protocols based on this model, because such a system not only solves the problem of efficient liquidity, but also helps to create DAO.
In conclusion, we want to say that one way or another, most projects want to become a DAO, because this type of management brings money not only to creators, but also to ordinary members of the community.
Having useful skills and knowledge, being able to influence DAO decisions regarding the organization's funds (funds, grants and so on) and other issues within their transparent policy, everyone really gets a chance to realize their ideas.