Livepeer Innovators DAO is a decentralized autonomous organization that aims to recognize and reward individuals and teams who have previously built decentralized web3 video applications and tools that benefit the Livepeer ecosystem. Through a retroactive grant distribution system, Livepeer Innovators DAO seeks to incentivize continued innovation, foster collaboration, and strengthen the decentralized web3 video ecosystem. This litepaper outlines the vision, objectives, governance structure, grant distribution process, funding model, and community engagement strategies of Livepeer Innovators DAO.
The advent of blockchain technology and the decentralized web3 ecosystem has opened up new possibilities for video content creation, sharing, and interaction. Recognizing the value of builders who have contributed to this nascent industry, Livepeer Innovators DAO seeks to empower and support them by offering retroactive grants. These grants aim to recognize past achievements, encourage ongoing development, and build a vibrant community of web3 video builders.
The vision of Livepeer Innovators DAO is to create an inclusive and supportive environment for builders who have made significant contributions to the decentralized web3 video ecosystem. By offering retroactive grants, the DAO aims to acknowledge the value of past work, incentivize further innovation, and foster collaboration to push the boundaries of web3 video technology.
The primary objectives of Livepeer Innovators DAO’s retroactive grant distribution system include:
Recognizing and rewarding builders for their past contributions to the decentralized web3 video ecosystem.
Encouraging builders to continue their innovative work and further enhance the ecosystem.
Facilitating knowledge sharing and collaboration among builders to collectively push the boundaries of web3 video technology.
Establishing a sustainable and inclusive community that supports ongoing development efforts.
Livepeer Innovators DAO operates as a decentralized autonomous organization, governed by its community members. Key features of the governance structure include:
Membership voting system to make collective decisions.
Each member of the DAO will be issued one vote per person and is transferable to different wallets.
Clear guidelines for membership and participation.
Eligibility of membership is available to any individual who has completed a membership application and has been voted into the DAO.
Any member may be voted out with the passing of a “Membership Removal” vote.
Roles within the DAO.
The two membership roles are as follows:
The Administrator role is responsible for running and building the DAO. Tasks include accounting, marketing, community support, development, recruiting and proposals. This role does not require a deep understanding of video building infrastructure, however, this role assumes the responsibility of putting in time and effort to ensure the DAO runs smoothly. There will also be compensation for time and effort put into the DAO. This role will be limited in space.
Video Builder Expert
A video builder expert has no obligation to take on any administrative tasks. They are used primarily for their expertise in the field for evaluating applicants during the funding rounds and vote for projects deserving of retroactive funding.
Qualities of a video builder expert:
Understanding the macro video ecosystem and future of video demand
Understanding technical video development
Regular community forums and discussions.
Our primary form of discussion will happen in the Official Livepeer Forum website and a dedicated Discord Thread.
Transparent governance proposals and voting processes.
All proposals must be submitted through the agreed upon web portal and provide adequate details about the proposal.
Only DAO members may submit and vote on a proposal.
A 50% quorum and a 50% “For” vote must be met before a proposal may be awarded.
Actionable reporting on grant distribution, grantee accountability, and grant effectiveness.
A clear interface will be accessible to evaluate the historic on-chain transactions of the DAO as well as numerical evidence of grant effectiveness by determining the amount of increased network traffic brought in by each proposal.
Livepeer Innovators DAO’s retroactive grant distribution process ensures fairness and transparency. The process involves the following steps:
Identification of previously built decentralized web3 video applications and tools that have made significant contributions to the ecosystem.
Evaluation of the impact, innovation, and benefit to the community of each project.
Thorough review by a diverse panel of DAO members to ensure fairness and transparency.
Grant recipients selected through a transparent voting process by the DAO community.
The funding for Livepeer Innovators DAO’s retroactive grants will be sourced from the Livepeer Tier 1 Treasury.
Based on an interval system, each “round” will have members of the DAO vote on the deserving applicants to receive rewards.
Once the winners have been chosen, the DAO will create a “Split Contract” for which the Livepeer Tier 1 Treasury can fund directly to pay all the recipients in one transaction.
In addition, the DAO may use a percentage of the total round amount to pay DAO members for their contributions for running and maintaining the organization.
With this method, we remove the necessity of running our own treasury and minimize risk of fund mismanagement.
Livepeer Innovators DAO places significant emphasis on community engagement. Our approach includes:
Regular community meetings and a 15 minute dedicated slot about Livepeer Innovators DAO during the weekly Water Cooler Chats.
Online forums and communication channels for open discussions and idea sharing.
Collaborative initiatives with other web3 communities and organizations.
The establishment of Livepeer Innovators DAO’s retroactive grant distribution system will lead to various benefits, including:
Recognizing and rewarding builders for their past contributions, fostering motivation, and encouraging continued innovation.
Enhancing the decentralized web3 video ecosystem by supporting ongoing development efforts.
Facilitating collaboration and knowledge sharing among builders to collectively push the boundaries of web3 video technology.
Establishing a vibrant and sustainable community that actively supports builders and their projects.
Livepeer Innovators DAO aims to create a supportive and rewarding environment for builders who have previously contributed to the decentralized web3 video ecosystem. By providing retroactive grants, the DAO recognizes past achievements and encourages ongoing innovation. We invite individuals and teams to join us on this exciting journey as we shape the future of decentralized web3 video applications and tools.
Disclaimer: This Litepaper is for informational purposes only and does not constitute financial or legal advice. Users should conduct their own research and consult with professionals before participating in Livepeer Innovators DAO.