Web3 explained in simple terms

Web3 Academy DAO is Born… And We’re Launching a Token ($DOER)

Dear Web3 Academy DOers!

We’re starting a company with strangers! 🙌

That’s right, friends!

The Web3 Academy community is tokenizing to become a DAO aimed at building resources, products and services to support the wave of entrepreneurs, businesses and creators moving into Web3 over the coming decade.

Web3 Academy x Web3 Academy DAO

I must say, the past few weeks launching this DAO have already been one of the greatest learning experiences in my career as an entrepreneur.

Just like Web3 and crypto, you don’t truly understand it until you experience it. That’s exactly what we wanted to do with Web3 Academy, help the community experience Web3.

Launching Web3 Academy DAO is accomplishing just that. If you’re reading this and have yet to be part of a DAO, this is your opportunity. And with some really awesome people I might add!

You might be asking, why launch a token? The DAO doesn’t have any revenue, utility or value.. Why does it need a token?

The answer is…

The token will act as a tool to organize the community as well as a point system to reward contributors. While the tokens will be valueLESS for the foreseeable future (aka we are not providing liquidity on any exchanges or open markets), they can be thought of as future ownership and governance of the Web3 Academy DAO and the assets it creates.

The goal is to create revenue streams to the DAO as well as create various utility to the token prior to providing its liquidity on open markets. This removes the speculative nature of the token and allows it to function solely as an organization and utility tool within the Web3 Academy ecosystem.

We believe this is the best way to create long-term sustainability for the DAO and its token.

But more on the token in a minute… Here’s the dets of the DAO! 

In this article we will breakdown the following in more detail:

  • Who is Web3 Academy & Web3 Academy DAO?
  • The Web3 Academy DAO Roadmap
  • Distribution & Tokenomics of the new Web3 Academy DAO token: $DOER
  • Web3 Academy DAO Organization

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Who is Web3 Academy?

Well that’s us! You’re reading our newsletter or listening to our podcast 🙂

Web3 Academy is an education and media engine aimed at guiding entrepreneurs, businesses and creators into Web3.

Who is Web3 Academy DAO?

Web3 Academy DAO is a new tokenized community which formed out of the Web3 Academy Discord Community in July 2022. 

The DAO aims to further the mission of Web3 Academy by creating resources, products and services to better support the wave of entrepreneurs, businesses and creators moving into Web3 over the coming decade. 

Web3 Academy DAO is a decentralized organization with its own native currency and governance token: $DOER (more details on the token below).

Web3 Academy and Web3 Academy DAO are separate entities which work together to achieve a shared mission. Web3 Academy has no control over the direction or finances of the Web3 Academy DAO, other than through governance tokens that members of Web3 Academy may or may not hold personally. Web3 Academy DAO has no control over the direction or finances of Web3 Academy.

The Web3 Academy DAO Roadmap:

Like any new company, the roadmap is not set in stone. We will remain flexible and adaptable to the fast moving industry of Web3

As mentioned above, the focus is to create resources, products and services to help better support the wave of entrepreneurs, businesses and creators moving into Web3 over the coming decade.

One of the best things about a DAO is it can act as a talent pool to incubate and support any business idea which aligns with the mission. Talent pools are made available through our guilds (aka departments) like the marketing guild, developer guild and community guild.

Any entrepreneur or DAO member with an idea can tap into these guilds via writing a proposal or simply discussing in the Discord and receive support with labour, consultation and potentially even funding

At Web3 Academy DAO, we embrace an entrepreneurial mindset and strive to incubate many new projects from within.

Do you have a Web3 idea that you need support with? Join the DAO here and reach out. Why do it alone when you can do it with the support of an amazing community with vast experiences and skill sets!

Ok, let’s get into some of the details of the current projects underway in Web3 Academy DAO.

The DAO is currently focused on various projects, but here are two main one:

  1. Building a proprietary tool for the Web3 Ecosystem:

W3pedia – A community-run database indexing (almost) every live tool across the Web3 ecosystem allowing you to easily discover, rate and review the best tools to build and create in Web3!

Here’s a sneak peak of the design from DAO member @Schnablette

  1. Creating the best community learning experiences in Web3:
    • Sandbox Sessions (Live calls in the Discord every Thursday)
    • DAO Community Calls (Live calls in the Discord every Monday)
    • Discord Discussions

These are just 2 projects currently being worked on within the DAO however the community is encouraged to propose or launch new and additional projects as they see fit.

Some other ideas we have discussed are:

  • Creating a Web3 agency for marketing, smart contract development, etc.
  • Consulting services for Web3 projects
  • Creating newsletters across various domains in Web3 (developer, community, marketing, etc.)
  • Creating paid and free resources (frameworks, playbooks, educational courses)
  • Developing additional web3 tools/protocols
  • VC/Funding/Investment/Grants for web3 entrepreneurs and creators

In terms of how we go from a valueLESS token to a valuABLE token (more on the token in the next section), checkout this roadmap infographic made by DAO member @Apfel.

$DOER Tokenomics & Distribution:

We’ve minted a token! And yes… it’s called $DOER (pronounced Do-er). 

This word represents the type of community we have built within the Web3 Academy community. We seek to find the DOERs in this space, those that want to actually do things and create value across Web3, rather than simply sit back and speculate on tokens.

We focus on utility and value over price and speculation and we believe that those who DO, follow the same ethos.

As mentioned in the beginning, this token will not have any liquidity on an open Decentralized Exchange (DEX). This means it will have no market to find a real value, thus the token is valueLESS.

The DOER token is used as a means for the DAO to organise, to reward contributors with future potential equity and value and also to simply experiment with Web3 tools. The goal of the DAO of course is to bring utility to the token, drive revenues to the DAO and then provide liquidity to bring real value to the tokens we are all earning. However, like any business,  this will take time and a shared commitment amongst the community.

Let’s get into some of the details of the DOER token!

We minted an ERC-20 token on the Ethereum blockchain and have since bridged 85% of the tokens over to Polygon for a low fee environment for distribution. The tokens are held in a multi-sig wallet with 8 wallet signers from various members within the DAO.

You can explore the token details on chain here on Etherescan
ETH Token Address: 0x1c76445ddeffdeca7c5fc25310fdd9a9ccdce4d0

⚠️🚨You can NOT currently purchase the $DOER token on ANY exchange. Anything showing that you can is a scam. Be careful and always double check with the token address above.

Below is a pie chart showcasing the distribution of tokens and then below that is a more detailed breakdown. Thanks to our DAO members @ianwboyle.eth and @apfel for creating these graphics.


Contributor Rewards

Contributor Rewards are connected to the bigger mission of the Web3 Academy DAO “To create resources, products and services that support the wave of entrepreneurs, businesses and creators moving into Web3.”

Each month, Web3 Academy DAO will distribute a % of tokens to those contributing to our bigger mission.

The distribution schedule is as follows:

50,000,000 DOER Tokens in the Community Treasury to be distributed over a 10 year time horizon

5,000,000 $DOER per year – 416,666 $DOER per month

The DAO aims to distribute 416,666 $DOER every month starting August 1st, 2022 until August 1st, 2032 (…what a banging party that will be in 2032!)

If 416,666 $DOER tokens are not distributed in a given month the remainder are put back into the community treasury to be distributed in a later month (or extended months after 10 years) OR a coordinape is done to distribute to existing token holders via a vote (including the core team)

Token rewards are distributed for the following actions:

This is just a high level overview of how to earn $DOER currently, however this will likely develop and change as new projects and initiatives are formed within the DAO.

You’re better off joining the DAO to learn more about how you can contribute and earn. But let’s take a look at a few examples anyway:

Participation

  • Participating in Community Calls
  • Participating in Sandbox Calls
  • Completing Quests to grow Web3 Academy
  • Sharing news for the Weekly Rollup Podcast

Content Creation

  • Writing an article for Web3 Academy Newsletter
  • Creating and hosting a Sandbox Call
  • Creating content for Web3pedia

Leading/Developing

  • Taking a lead or contributor role within a guild or project in Web3 Academy DAO 
  • Creating new projects, resources or avenues for the DAO to work on
  • Developing partnerships for the DAO

As the DAO continues to grow the idea is to build products and services which generate revenue to the DAO as well as create utility to the $DOER token itself.

With any liquid token, the price fluctuates based on buy or sell pressure. If we only distribute tokens without providing a reason for outsiders to purchase or holders to hold, the token will not fair well holding value into the future.

Future projects and proposals in the DAO should always keep this in mind! We have a huge opportunity ahead of us, however we need to always be thinking about attributing utility to the $DOER token.

Web3 Academy DAO Organization & Structure

One of the greatest things about launching a DAO with a community is the vast skill set and experience spread across the community.

We don’t know exactly where this DAO is going, however we do know there are certain roles and guilds (think departments) that we need in place regardless.

Our DAO is shaped by Guilds, Projects and DAO Operators. Check out this map from Sobol, thanks for your work on this DAO member @rathermercurial

Guilds are occupationally specialised groups that focus on education and collaboration. They help grow and train their members as well as work together with others in the DAO on different projects. Currently we have a Developer Guild, Marketing Guild and Community Guild but in time we expect more guilds to be formed across a variety of skill sets.

Ps. If you’re interested in starting up a guild just jump in the Discord and let us know (there will be many that will want to follow your lead). Thinking we could use a Writers guild? Content guild? Design guild? Legal guild? PR guild? Partnerships guild? The list goes on!

Projects are functionally specialised groups that are likely to draw from multiple guilds to achieve their goals. Many of our projects at this point have been focussed on getting the DAO up and running (eg. Discord Onboarding, Launch a Token) but increasingly they’re about creating value for the DAO (eg. w3pedia).

DAO Operators are roles focussed on supporting the healthy functioning of the DAO. These have been quite general to begin with but will be increasingly focussed and have their authority delegated from the DAO to take responsibility for certain operational functions. Some examples of these DAO Operator roles are Discord Manager, Governance Steward and Operations Coordinator.

Interested in contributing to the DAO? Want to start or join a Guild? Want support on a project?

Join the Discord here and follow the onboarding steps. There are various guilds to choose from, however if you’re unsure where you fit in best, no worries! Just ask in the #dao-chat or show up to the community call on Mondays at 4pm EST and we will find a place for you!


Kyle Reidhead
Founder of of Web3 Academy & Impact Digital Marketing
Twitter


🚀 Action Steps For Web3 DOers 🚀

👉 Join our Discord to participate in the Web3 Academy DAO

👉 Take our FREE Web3 Rabbit Hole Course to get up-to-speed on the foundational components of Web3 so you can confidently build, work, or use the fastest growing technology in history

👉 Follow Web3 Academy DAO on Twitter


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