What are some of the use cases, incentives, and benefits that are offered by FWB's DAO?

Raihan: I think DAOs as a larger catch-all term are super interesting. For those uninitiated, DAOs are "decentralized autonomous organizations" where the hope is that smart contracts and the underlying code replace a lot of the friction of running a traditional company. How that plays out ideologically, structurally, and directionally is super interesting. Something like Bankless, for example, has a charter that’s really leaning in on DeFi as a means of crushing the existing centralized banking system. If Bankless had their way, everyone would just have an Ethereum wallet. Then we'd all be on L2, which is another permutation of Ethereum, where everything wouldn't have to deal with this kind of overhead gas charge.

To Bankless's point and to ours, every single DAO needs some level of communal structure. For us, we have membership, editorial, and treasury. All of those feed into each other as a means of boosting the token price at one level and also boosting the cohesion and organization.

If a DAO doesn’t consider structure, then it'll just have a bunch of people swarming together and moving aimlessly. Or it'll have newcomers join in who are having the worst time ever because it's like going to a party where you don't know anyone. There's a lot of potential there, and one thing I've seen a lot of is people talking about community managers and community builders really being the linchpins of a DAO because they're the ones who provide the social structure, like a general scaffolding, on which others can build.

Colby: The role community managers play in this world is really interesting because what you're essentially building with a DAO is a group of semi-acquainted friends who have some purpose. It's like a friend co-op that's trying to do something. In FWB's case, trying to do a lot of somethings, and that's maybe what we should get into in a minute. If you think about when you join a new company, there's always that one person who organized all the onboarding documents, who tells you where everything is, who knows how to get your laptop riser ordered quickly. Maybe they're in HR or something. It makes your experience of the first couple days or weeks of joining the company infinitely better.

That’s one of the main roles of community managers. It completely changes the dynamic of how people engage and create value. I remember starting off in February or so: I got on board, I talked to Raihan a couple times. But there was no one who said, "Hey, this is where stuff’s happening. Go check it out." Or "Hey, this is what's up." The community was young and hadn't gotten to that point yet. Now I see new folks popping into these channels, throwing heavy ideas out there, and immediately interacting.

We’d been talking about this FWB wiki/knowledge base for a while. Finally, someone else brought it up, and a couple of other folks and I were like, "Yeah, let's finally just go build this." And four new people raised their hands and said, "Hey, we want to help. We've been in FWB for three days, but fuck yeah, this looks awesome." It's a really interesting dynamic for how to build things socially.