TLDR
I will be transitioning the few CityDAO assets I manage to new owners and ending my leadership involvement with CityDAO aside from voting in proposals as a Citizen.
CityDAO Transition
Friends and Citizens,
Over the last 3 years, it has become increasingly clear to me that we can’t agree on a path forward for CityDAO. We came together around buying land in Wyoming and building the blockchain-enabled city of the future, and while we were united by that grand vision, we couldn’t find alignment on any of the smaller steps needed to get there. The long story short is I will be transitioning the few CityDAO assets that I manage and maintain KYC for to new leadership.
Coming to this decision was agonizing and happened slowly over the years as it became increasingly clear that it was going to be impossible for me to inspire enough confidence in my ideas and proposals to make something big happen. One of my first attempts to improve Parcel 0 by putting modular Jupe houses on it was met with pushback from the community. That was the first time I started to realize that I wouldn’t be able to manifest my vision at CityDAO.
My next proposal, a collaboration with Josh to buy a DAO-owned house in Denver was also handily rejected, lacking the support of our large international community that saw it as distant and impractical (some members of the community even went as far to suggest it would be my personal CityDAO-funded ski house).
A few months later, I moved to New York briefly and watched as Brooklyn was blooming into a crypto-capital. I proposed buying a parcel of land there that could become a CityDAO community space. After that proposal languished, I heard feedback that Citizens didn’t see a path for a sustainable business model and wanted a way for the DAO to earn income. Building on that idea, I proposed that we buy an income-generating property, but that too, was rejected.
Next up was the proposal I was most optimistic about: City Hall. It advocated buying a space in Denver that would serve as a co-working hub and HQ for Citizens right next to the ETH Denver venue. It would have been a yearly spot for us to collaborate in person and co-work throughout the year. It would have been the most significant DAO-owned property to date and show the world a new model for property ownership.
One of my learnings from that initial string of rejections was that it was difficult to amass support for projects that are geographically centered in one area with such a widely distributed group of Citizens. To remedy that, I proposed CityDAO Districts, where we split up into smaller clusters based on distance and buy properties that would make up the CityDAO Network State.
After another rejection, I regrouped and came back to propose my final and most recent initiative, CityDAO Compute. This proposal was an attempt to rally the DAO around building a GPU training cluster in our home state of Wyoming where electricity is cheap and take advantage of the growing need for compute for training AI models. After all these failed attempts, a familiar quote comes to mind:
“Insanity is doing the same thing over and over and expecting different results.”
In that spirit, It’s time to stop doing the same thing over and over. A fundamental problem with the DAO model is that the burden falls on he who dares act. The builder who has a vision or goal has no agency and must continually seek the approval of the group. This creates an environment where builders can’t build - instead they have to politick. Vitalik cautioned that many such groups are vetocracies - where by default the answer is no and the most likely outcome is for the status quo to continue.
I am hopeful that someone can fill my shoes - perhaps someone who is a more compelling visionary or leader. Someone with a better plan, someone who can devote more time to the project.
July 2nd marks the 3rd year anniversary of CityDAO, and that is when I will formally step back and let others take the reins on all fronts. As part of this transition, I will be sunsetting or transferring assets I manage to new owners - everything from the Discord, Twitter, Wyoming legal entity, Wells Fargo, and Coinbase off ramp. Until then I will be available for questions, to discuss the transition, and to vote on any proposals that happen before July 2nd.
In our last couple months together, I intend to work with David and the Council to make the transition as smooth as possible.
Onwards,
Scott
Transition Plan for each asset
-
Wyoming LLC
Will be shut down by July 2nd and assets transferred to a new entity owned by the Council. If no entity exists, the three land parcels will be sold. -
Wells Fargo
Will be shut down by July 2nd. -
Off ramps (Coinbase, SDM)
Will be shut down by July 2nd. -
Discord
Will be transferred to the council designated representative as long as Scott agrees with the nomination -
Twitter
Will be transferred to the council designated representative as long as Scott agrees with the nomination -
Discourse
Will be transferred to the council designated representative as long as Scott agrees with the nomination