🔥_🔥 Hello World
Decentralized Governance is taking center stage and 🔥_🔥 is here to build it.
Decentralized Governance is taking center stage and 🔥_🔥 is here to build it.
While the concept of decentralized governance has been an integral component of the Ethereum community since The DAO, it’s taken until now for major projects to start allocating significant resources to decentralize their protocol.
In that time, the wider DAO ecosystem has spawned a suite of niche governance experiments.
One of them, Raid Guild, offers a decentralized work initiative focused on ‘slaying web3 demons’. Within this future of work breeding ground, governance has become second nature.
Take away the financial motivation and what remains is a group of passionate individuals focused on shaping strong culture around common goals.
Unfortunately, passion doesn’t equate to long-term sustainability. While every project now has governance, instilling the proper incentives to drive it will be a crucial component of keeping these conversations alive. Thankfully, this new wave has birthed what many are calling protocol politicians — or highly knowledgeable individuals, groups, companies and now DAOs contributing to governance discussions across a myriad of projects.
Recently, we’ve taken note of dozens of funds, firms, and power users who have openly hitched their wagons to the sector’s strongest projects.
Today, we’re excited to join that conversation as 🔥_🔥(Fire Eyes DAO) a governance division birthed from Raid Guild.
What is 🔥_🔥?
🔥_🔥 is a collective of passionate crypto natives fully entrenched in the web 3 world, designing strong token economic and governance systems for major players in DeFi and beyond.
As a team who has worked alongside dozens of notable projects,🔥_🔥 takes key learnings from niche, tight-knit communities and fuses them with active participation across all major Dapps & tokens within the wider Ethereum ecosystem. This context allows us to translate and build upon successful initiatives to help projects enjoy new waves of engagement.
Our deep navigation of both the DeFi and DAO ecosystems has presented a clear picture of key actors within token-based communities. Now, it’s up to our industry to effectively pave the foundation for the Ownership Economy.
Whether it be through incentives to bootstrap growth on the protocol side or proposal farming on the governance side, the key idea is for users to become owners of these ecosystems and capture the majority of their upside.
Why 🔥_🔥?
By having a continued voice in prominent governance conversations, we will tailor the next wave of web3 growth in favor of the users and the builders, rather than further enriching the pockets of the few.
To do this, we’ve been scouting a suite of projects which allow us to have the most impact based on what we believe to be a strong foundation and a tight-knit community. This means actively participating in governance systems such as:
We’d like to highlight that there are plenty of other amazing projects doing governance, however, we believe the aforementioned networks represent early-stage evolutions which allow us to have a meaningful voice.
And why would the voice of 🔥_🔥 add value you might ask?
🔥_🔥 members hold years of experience contributing to a variety of governance & community efforts on a daily basis. Being entrenched in the Ethereum community for the past four years — the genesis 🔥_🔥 team features… *drumroll please*:
Collectively, 🔥_🔥 members are regular contributors to a diverse range of organizations playing critical roles in the development of the DeFi and DAO ecosystem.
Here’s some of the places you may have come across our work:
Working with 🔥_🔥
Designing the foundation of these governance systems is more than on-chain voting. Whether it’s providing direction by mapping out tailored governance tools, building incentive mechanisms, or incubating token designs, 🔥_🔥 has and will continue to play a core role in architecting these types of structures.
Now, we’ve focused our efforts on working with projects& teams that enable web3 governance systems built for long-term sustainability.
Over the past few months, we’ve been contributing to a suite of governance launches.
Aavenomics Community First Ecosystem 👻_👻
With the release of Aavenomics, 🔥_🔥 has been a key contributor to the discussion around safety and ecosystem incentives. By placing a strong focus on protocol safety, we believe Aave’s approach to responsible yield farming will seed new types of innovation which brings DeFi to new audiences.
From ecosystem grants and money market frameworks, to yield farming and protective measures, we’ve seen a clear vision for the bankless future Aave can unlock.
We expect that community members will be empowered for their contributions regardless of social status or capital holdings — creating a new paradigm for digital careers to proliferate.
What’s unique about Aave is its token-first approach from day one. The future success of the protocol is entirely dictated by the success of AAVE and the people participating in its growth. Since its OG days as ETHLend, Aave has always had a strong commitment to decentralization, aiming to be one of the first community-owned, bottom-up DeFi protocols dissolving central points of failure.
Aavenomics Key Components
With DeFi composability being pushed to its limit, we’re eager (and cautious) to watch how Aave’s strong ties with projects like Balancer and yEarn spur adoption and usage.
The easiest way to monitor this will be through the growth of the Aave Safety Module. Aave’s intent to underpin governance with insurance frameworks is one that we believe creates community incentives directed in the right way.
The introduction of an Ecosystem Reserve can be daunting if mismanaged and hope to influence the reserve allocation to incubate long-term users and supporters, rather than short-term traders.
Closing Thoughts
🔥_🔥 is excited to play a key role in the evolving web3 ecosystem and the development of new, innovative token models that explore the morality behind effective, sustainable governance.
As we continue working with teams to help incubate community-first ecosystems, we’re optimistic that the remainder of the year will bring about the most interesting experiments Ethereum has seen to date.
If you’re a project or an individual keen to get in contact, please reach out to one of us on Twitter! DM’s are always open 🦄
Until then, keep an eye out for 🔥_🔥 on one of the many governance forums coming to a community near you.
