The first phase of the Yam DAO Re-Org Project has been completed. Here’s the low-down.
The purpose of the Yam Re-Org is to give Yam token holders the power to determine the course of the Yam DAO and to effectively steward the treasury. Simultaneously, developers and creators are given the freedom to work on projects they are passionate about and control over their own success. We believe this win-win formula is a pretty big deal and we think you will too.
The Yam Re-Org is driven by one overarching issue:
Yam token holders did not have the means to choose DAO projects, assure accountable use of Yam treasury funds, and promote growth. These tasks were mostly performed by a core team with limited oversight and transparency in to the process, and the lackluster results of almost 2 years of work speak for themselves. It is clear that Yam needs a way to attract creators and builders who are inspired to build valuable projects and contribute productively to the DAO, and do so in an accountable way.
In order to solve this problem, the Re-Org replaces Yam’s old core-team model with a new Grants based model. This new model empowers Yam token holders with full control to determine what to fund by issuing grants to contributors who work as independent contractors, bound by the terms of those grants.
The success of Yam will be determined by the token holders. Yet achieving that success is dependent on the contributors doing the work. The Re-Org brings together both token holders and contributors into an optimal, collaborative, and decentralized system.
The old Yam model had many problems that were holding Yam’s potential back.
The new Yam model is designed to overcome those issues and encourage progress.
Introducing Yam Grants, the new Yam DAO model designed to help grow Yam. Yam Grants is now being rolled out in a guarded launch mode after months of research, analysis, design and building. This launch concludes Phase 1 of the Yam Re-Org. In Phase 2 of the Yam Re-Org, Yam Grants’ reach will expand along with a set of brand and marketing initiatives.
Yam Grants are Controlled Exclusively by Token Holders. With Yam Grants, Yam token holders decide what to fund with the treasury, and maintain control over all the payments to Grant recipients based on the successful delivery of their project. Token holders are stewards of the Yam brand and treasury with end-to-end control over the direction of the DAO
Yam Grants Empowers Talented Builders to Build. We believe that growing Yam is important, and to do so the DAO must build valuable projects and services. This requires talented, committed and accountable creators, builders, and thinkers with the freedom to do their best work.