I think all of us higherside chatters are familiar with everyone's favorite Canaanite deity. But listen to this shit.
They are a grant giving DAO that focuses on advancing effectiveness of Ethereum and its adoption.
"MolochDAO was named after the Canaanite god of child sacrifice to reference the suboptimal outcomes that can occur as a result of poor group coordination. It was created to help solve the incentive and coordination problems inherent in funding open-source protocols, as every stakeholder benefits from the development but no individual wants to provide the funding. " - literally straight from their page
For those of you unfamiliar with the term "DAO" it stands for "decentralized autonomous organization" and it's a very very very hot trend right now. Basically a DAO is a group of likeminded individuals that work together for a common goal. There is no formal corporate structure or hierarchy, but they impliment basic protocals through blockchain technology to facilitate basic tasks. The DAO is the glue that holds them all together. In a DAO you receive tokens that give you voting abilities on major decisions that dictate what projects you will be working on, where tokens are allocated etc... behind the scenes is an on chain ledger of all activities. It's essentially a way of organizing a workers commune.
OK, rule #1: don't name your idea after a Canaanite god of child sacrifice.
I'm obviously not their target demographic. Interesting, though.
I predict a massive rug pull
Yh they are not messing around with that imagery.
Whats the real aim? To be the leaders of a new ethereum based society?
smaddy wrote:
Yh they are not messing around with that imagery.
Whats the real aim? To be the leaders of a new ethereum based society?
Essentially, yes I think. I don't see anyone using the name without at least unrecognized bad intent.
