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Efficient Governance of DAO: The Top Ten Key Principles for Building a Decentralized Autonomous Organization
Ten Rules for Building an Efficient DAO
1. Simplicity First
An effective complex system often originates from a simple and effective system. When designing a minimum viable product, one should start with simplicity and gradually evolve into a more complex structure.
2. Focus on Key Points
About 80% of results often come from 20% of key efforts. When designing a minimum viable product, attention should be focused on the core features that can produce significant effects.
3. Reasonable Timeframe
Work often expands to fill the available time or budget. It is important to set reasonable deadlines that are neither too tight nor too loose.
4. Proceed with Caution
When a certain metric becomes a target, it often ceases to be a good measure. This is especially important to consider when building complex systems like public goods fundraising or identity verification.
5. Streamline the Team
Adding manpower to a delayed project may cause further delays. Keeping a smaller team size is usually more efficient.
6. Technological Advances
The performance of chips roughly doubles every two years, while costs continue to decline. This trend of technological advancement creates enormous opportunities in the tech sector.
7. Network Effects
The value of the network is proportional to the square of the number of users it connects. When building a system, one should consider how to achieve exponential value creation.
8. Social Limit
The number of stable social relationships that humans can maintain is limited. Unless necessary, a smaller team size should be maintained. If scaling up is required, appropriate trust models should be adopted at different levels.
9. Modular Design
A good system should allow each module to focus on doing one thing well and be able to collaborate with other modules. When building software, the principle of modularity should be followed.
10. Structural Mapping
The design of an organization often reflects its internal communication structure. When designing an organization, one can draw on methods from software development, but attention must be paid to the limitations of overall structural scalability.