Next steps for CityDAO

With 8m in the treasury, we need to home in on the path forward. This thread is for us to decide what our vision should be.

Should we start with a smaller network of a few real estate purchases?

Should we try to buy or start a town and go all in on the city vision?

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Let’s go all-in on the city vision. That’s what we’re here for.

We should focus on developing our governance processes to do something simple with our existing parcel and continue to prove out that we can extend on-chain governance to real world asset management.

Then let’s go all in, buy more land and raise the stakes.

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I think we should purchase a rental property as this was mentioned as a potential opportunity to invest the treasury into. I think show casing the dao generating rental income would be a big boost for recognition along with more potential down the road too

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Can we have a virtual city first in CV or DCL? We can lend our land slots there for free, besides, we can also provide some design staff as well, but better it can be a collaborative mission for all of the community.

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How about growing the 8m treasury by staking in the pool while waiting for the way forward. :wink:

Edited I have found the CityDAO Treasury Management Strategy - Google Docs so you are doing great. It is good to see which farm is the preferred one by DAO.

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Now’s the time to innovate and make a dent in the universe. If that $8m evaporates by going after the mission then so be it. As an owner of 3 rental properties, it’s small potatoes when you have hundreds of smart people in a group that can help pull off a more challenging and innovative project - like a subdivision. I think CityDAO should continue consideration of purchasing a large area of land of 25 - 50 lots and develop out the infrastructure (road/water/sewer/electric/comms) for DAO members to buy and build/sell. Then, expand.

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Buying a rental property could turn out really negatively if we mismanage it though. We’re now involving the lives of people outside of the DAO, which might not be the kind of recognition we’re looking for. Containing our actions within our own land means that we can have some trial and error as we work out governance processes.

In the larger context of firms like Blackrock buying up rental properties… We don’t really want to be part of that conversation, do we?

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hi airbayer! Happy to see you in city dao, banklessdao fren! Let’s become neighbors some day

Should we first have a virtual city and show that all the city function can be managed on chain. Directly buying a rental property might not help in the begining.

Starting out with rental properties might be challenging. Infrastructure is super important to create a strong foundation for the city. Rental can come later if interested but without a solid infrastructure in place the city won’t have anything else to rely on. How cool would it be to have transportation networks (to get you to other parts of the metaverse!) communication systems, etc. so cool!!

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Actually like that approach. I do think that we should put the treasury to work by buying/ scouting interesting land / buying cities (if that’s possible) BUT

simulating the dao process in some cost-free digital city would be a great training I deem.
Could even be as simple as a minecraft server city organized by snapshot votes and the usual dao background structure (discord, coordinape, notion, forum, etc). Or really anything else that’s similar.

I would love to see an experimental ideas first. And it would be nice if we could let people from around the world to be the part of this experimental.

For a long time-My good friend said he is a citizen of the world. Now he reminds me to our conversation. So let’s try small and if it’s work. If we go all-in in one place. Maybe it’s hard to expand around the world. I think it should be nice to expand this idea to other part of the world as well.

That must be awesome!!!

Super excited about this project. Congrats on reaching 10k citizens!

It feels like there’s loose alignment on the long term goal, which I’d summarise as something like:

for the DAO to acquire and manage a large, continuous area of land, which supports housing, power, water, and other amenties required to live, ultimately enabling novel and better ways of city governance than have been seen before

I think a key thing which Vitalik touches on in his Crypto Cities blog is the issue of alignment:

  • Create economic alignment between residents and the city . This means first of all that the coin itself should clearly become more valuable as the city becomes more attractive. But it also means that the economics should actively encourage residents to hold the coin more than faraway hedge funds.

If we don’t have good alignment between citizens and the success of the DAO as a whole we may see speculators/investors/nimbyism dominate votes.

Ok, but how do we get to this future?

General principles:

  1. Incremental is better than big bang - i.e. we should try to get to the vision bit by bit, growing and testing as we go. You could describe this as a villagedao → citydao strategy

  2. Think long term - compound interest is a powerful force, and being sustainable with growth will pay off in the long term. i.e. Rent/lease/property tax > sales, don’t sell the family silver without recurring revenue etc.

  3. Transparency + accountability - this is again referenced in Vitalik’s blog. Can we set this up so that every piece of expenditure is public and trackable? Can we keep all comms public?

A possible incremental strategy

  1. PropertyDAO - buy a property, run by the DAO (e.g. can we do a Harberger tax on this or something?)
  2. HamletDAO - buy and run a community of ~5 houses run by the DAO
  3. VillageDAO - same with 50 properties in an area
  4. TownDAO - 500 properties
  5. CityDAO - 5000 properties+

We also need to raise revenue concurrently. Not sure of the best way to do this, perhaps diverse investment portfolio, some from renting/leasing properties in hamletDAO etc as we go. Perhaps multiple hamletDAOs could be run at the same time, then multiple village etc. This would provide more revenue, and give more space to experiment with governance as we go.

And merch! Would love a hoody haha.

And finally, let’s sort out the governance. That’s kind of essential. :laughing:

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I am also thinking that building treasury is more important currently because whole DAO needs time to see in which direction we are heading. I am completely about all in on city vision but untill we get there, it is easier to concentrate where should we stake our money

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Definitely we should go all in long term but in short term it may be wiser to exercise with smaller purchases to see how it plays out in real.

Maybe creating an exhibiton area and using it as nft gallery/meet-up, which can also work as marketing/pr

It is not easy to create a real CityDao, we should try to start from a “mini town”. Slowly try and expand the scale, and finally is our ultimate goal

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I think we should pay attention to community feedback next, and we can release a citydao’s own token. Here I assume that the name of the token is cdc, part of the cdc can be used to reward land holders, and the remaining cdc is used for the construction of citydao ecology . When the ecological development reaches a certain level, the land transaction market can be opened, and only CDC is allowed to be used for land transaction. This not only increases the liquidity of the land, but also empowers citydao’s nft, and can maintain CDC as a stable currency in the market to a large extent. It is more conducive to the continuous development of citydao, the above is just my humble opinion, thank you for watching

I love this, I have a similar vision for cityDAO, we 100% need to walk before we run!

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I agree with everyone saying we should start small and do a “mini-city” in the form of a rental property. There have been plenty of logical explanations as to why.

What I’d like to add is the element of “defining a standard for land ownership and management on the blockchain”. We’ll be building ERC721 but for land (both ownership and rental). This is very low cost, high reward.

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I think the project is fantastic enough. The team should manage corporate works.