In the Netherlands there exists a legal model to capture the flexibility of a limited company with the organization structure of an association. It is called the "cooporation". According to the internation cooporative alliance, it is "an autonomous organization of individuals who voluntarily unite to pursue their common economic, social and cultural needs and aspirations through an enterprise which they jointly own and democratically control."
Based on this model of the cooporation we can define a type of Decentralized Autonomous Organization called a Decentralized Cooporative Association. A DAO can provide a lot of benefits to crypto communities with added legal compliancy:
- A DAO allows for easy registration and transfer of (NFT-based) membership
- A DAO is allowed to share profits with its members
- A DAO shares the protection of a limited company
- A DAO allows for the decoupling of voting from financial stake
The key takaway is that in contrast to a DAO, where members are usually limited to voting, in a DAO Explorers partially own the intellectual property and by extension partake in revenue sharing.
The goal of the DAO is to create a scalable and open organization where all stakeholders (commercial and non-commercial) are represented correctly and can collectively own and govern the platform.
Our strategy with the DAO is to continuously acquire equity in YOM via the sales of NFT-based memberships that allow buyers to partake in profits. This way YOM can grow its ecosystem, while it is increasingly being owned by its members, represented by an DAO-elected board of officials.
There will be different types of memberships. We will allow Explorers to earn their membership by earning points on the YOM Ascension tree via proof-of-attendance badges. Creators receive their membership by deploying succesful metaspaces. Both are memberships that won't partake in profit sharing.
Additionally, there will be special memberships that can be assigned only by the outcome of a DAO vote and provide a fixed amount of income to holders. An example of this is the Yombassador, who helps to moderate the system.