What Is Daonuts?
Daonuts is a project to empower Reddit communities with Ethereum based tools for governance and engagement. This is an unprecedented opportunity to demonstrate the power of Ethereum to users of one of the most trafficked web destinations in the world. More importantly, this opens the door to self-sovereign communities - communities that exist on their own and have the tools to chart their own destiny.
Reddit has a a thriving community of engaged and passionate users who love it's friendly and intuitive user interface. Ethereum has many apps and features that allow for rich, rewarding, and engaging user experiences. The Daonuts project connects the two. This is accomplished via a smart contract system that replaces Reddit’s database as the source of truth for a community subreddit. Reddit will connect to this on-chain trustless data and display it via the Reddit UI. This means that soon, any Reddit community will be able to incorporate community governance (Aragon DAOs), open markets (UniSwap, 0x, Erasure, etc...), and more Ethereum features to their user experience.
To get this all started, we're building out infrastructure on Aragon. This looks like a suite of Aragon apps that will allow members of any Reddit community to govern their subreddit in a trust-less and verifiable way. The DAO will manage all data including tokens, votes, and more. This will enable:
- tokens for community reputation
- tipping and gifting
- community governance via signalling polls and binding votes
- verifiable and concrete processes to choose and manage community moderators
- community chosen rules & constitution
- non-transferable badges
- Harberger-style asset ownership
- content curation mechanisms
For the first time Reddit communities will be able to improve and manage their community experience like never before. Data will be verifiable. Decisions will be transparent. Communities will be able to create their own future. This will enhance the Reddit user experience far beyond those any other centralized platforms. Users will be able to create economies and games around content curation, subscriptions, advertisements, wagering, tipping, and much more. The incentives to create this vivid and dynamic future is only possible if it is truly community-owned. This is why the integration of Reddit and Ethereum is so valuable: it creates something that is greater than the sum of it's parts.
This unprecedented opportunity will change the way we think about social media, user engagement, and community governance forever. Once the genie is out of the bottle there is no going back. The platforms that embrace this change will succeed beyond their wildest dreams, and those that don't will be archived as stepping stones towards these dreams. Reddit is one of the most dynamic social media platforms in the world. Ethereum is one of most empowering and dynamic technologies in the world. The two together would be unstoppable, literally. This is the dream: self-sovereign communities with amazing user experiences that drive unparalleled engagement and innovation.