How Does Hero DAO work?

Governance

Hero DAO has no governance token you can buy for now. To join the DAO you can make a tribute to the vault, and receive non-transferable shares. 100% of the money in our vault is controlled entirely by the votes of the members. We can vote to pay an artist or launch an NFT, and if the votes decide something happens, then it is automatically executed. There are no delegates or funds controlled by insiders, and the founders are no longer the biggest share holders even.

Goals

HeroDAO is DAO first. We started with a DAO in February 2021 with the explicit goal of creating a super hero franchise that is owned by the artists, creators, and fans that love it. Instead of launching a token sale, we launched a community first, with everyone that wants to participate leading the vision.

Status

On July 14th 2021, the members of Hero DAO voted unanimously to make our first comic about Moon Girl, and produce a story about this public domain hero.

Since then we have added artists, writers, developers, and more to our organization. We are building something amazing as a community. To get a most up to date view on progress join a weekly Town Hall.

But we still need your help! If you can help with any aspect of creating a comic book, there are tasks to do, and you can request shares & funding from the DAO at any time to do it.

Tech

The primary separator between our DAO and a regular organization is when the members vote on passing a proposal, the code that runs the DAO automatically executes exactly what we have voted on. For example: when we approve an artist's work they are automatically sent their compensation as soon as the vote process completes / passes.

Hero DAO uses a platform called DAOHaus to host our DAO. The backend uses the Moloch smart contract library that has gone through several security audits, and includes lots of features to protect users including:

- A timelock, that delays proposal execution for a few days after it passes

- Proposal staking, a small amount of money must be staked to make a new proposal, preventing malicious spam

- Rage Quit feature

Rage Quit Mechanic

If any member of the DAO doesn't like the direction things are going, they can "Rage Quit" at any time. This means burning all their shares, and receiving an equal percent of the treasury in return. So if you own 1% of the voting shares, and theres $100 in the treasury, you would be able to leave with $1 any time. This protects all members from any kind of centralized take over, and removes risk from contributing.