The ICP Community Conference is set to undergo a transformation into a DAO after the live event on May 10. In the blockchain industry, decentralization is a key principle, and decentralized autonomous organizations (DAOs) govern protocols. Each member holds voting power to approve or deny proposals, collectively shaping the future of a blockchain protocol. However, some smart contract setups may allow a small number of wallets to hold the majority of voting power or take actions without community approval, which undermines decentralization. The Internet Computer Protocol’s (ICP) SNS framework allows for the creation of fully decentralized DAOs that give power back to the community.
The ICP Community Conference (ICPCC) is a multichain event brand centered around the ICP ecosystem. Its goal is to host annual conferences that help the wider Web3 industry understand the basics of ICP and demonstrate its potential for integration with and value to other popular chains like Bitcoin, Ethereum, and Solana. ICPCC 2024, scheduled for May 10, will be a global livestream accompanied by meetup watch parties in over 25 cities worldwide. Content creators, live MCs, and innovators will present everything ICP has to offer the Web3 ecosystem.
The livestream is programmed to cover prime times in all three fundamental time zones. The Asia-Pacific stage will feature a standalone pre-party livestream hosted by Yuku metaverse. The main 9-hour livestream will begin in the European time zone and conclude during United States primetime.
This experimental event aims to take decentralization to the next level. The entire event series will transition into a DAO that will oversee the ICPCC brand going forward.
The new DAO will be governed by elected council members, without a core or central team. These council members, collectively known as the ICPCC Council, are paid vendors responsible for writing complex proposals needed to keep the DAO on track with its primary goals. They do not have the authority to act on behalf of the DAO but are limited to preparing high-quality proposals. Other DAO members have the power to elect and remove council members directly.
As an SNS DAO, the new organization utilizes unique features that enhance decentralization and streamline participation. All components of decentralized apps (DApps) are on the blockchain, including the front end, back end, and data. Therefore, the DAO can exercise full control over every aspect of a DApp through voting. Additionally, front-end interactions do not require any gas fees, eliminating a significant barrier to blockchain-based development.
The treasury wallet will not have multisig or custodians, leaving it entirely under the control of the organization that will manage it in a gasless and affordable environment.
The upcoming DAO will be responsible for organizing and promoting the ICPCC brand and its events. This means they will own intellectual property and hire vendors. To empower the DAO as a legal entity that can sign contracts and manage IP exclusively through on-chain proposals, it is registered as Marshall Islands DAO LLC. The annual registration fee will be paid directly in USD Coin (USDC), marking a milestone for crypto adoption.
Attendees of the event will also become owners of the DAO. The ICPCC, which debuted last year, is already becoming a major event series. It is currently organized by Code & State, an ICP-focused venture studio, which has delegated all rights related to ICPP. The decentralized organization will then vote to elect council members who will submit proposals.
Isaac Valadez, the venture lead at Code & State, commented on the takeover:
In addition to launching the DAO live at the event, attendees will have the opportunity to win airdrops of various tokens and NFTs. Those who enter airdrop codes during the party or livestream will be whitelisted for future airdrop allocations. Starting from 2025, ICPCC DAO LLC will also host an annual in-person conference.
To learn more about the ICPCC, visit their website.
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