<aside> 💡 Articles in this series: Article #1: Introducing Yam Re-Org | Article #2 What Makes A Good DAO | Article #3: Goals of the Yam Re-Org | Article #4 The New Yam DAO Model
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The purpose of the Yam Re-Org is to solve the problems that have hampered Yam from the beginning. These problems concern decision making, consensus building and adding value and long-term viability to the Yam DAO — and doing so for the benefit of all Yam token holders.
The Yam Re-Org eliminates the ‘core team’ and shifts all control over funding and major decision making to the exclusive domain of Yam token holders. Token holders decide what to fund by voting to approve work via grants. Grant recipients manage the details and deliver their projects to spec in order to receive payment.
Token holders exercise their decision making power and determine what Yam will create within this new grants based system which is open to any builder or creator who wishes to apply for a grant to perform some kind of work. Since there is no longer a ‘core team’ to do work, all work for the DAO is controlled within the grants system. Only the Yam token holders can decide what Yam DAO does, how it does it, how much it will pay for the project or services.
An approved grant establishes an agreement between the grant proposer and Yam DAO for a certain kind of work to be performed as stipulated in a grants proposal. This is similar to real world company that establishes a contract with an independent vendor and the vendor is responsible for managing the project and delivery the goods. Yam token holders decide what grants to fund but they don’t directly manage the project itself, instead management is outsourced to the grants project team. Thus streamlining the management overhead of the DAO.
Token holders must approve payment to grant recipients when they successfully fulfill the scope of work and deliverables as defined in the grants originating proposal. In this way token holders control not only what the DAO does, but also assure work is performed appropriately before the release of treasury funds. Grant recipients control their own projects but must be accountable for delivering on the terms of their commitments for payment.
In summary, the purpose of the Yam Re-Org is to allow Yam token holders to determined the purpose of the Yam DAO and maintain the integrity of treasury funds. Developers and creators can build what they are passionate about and have control over their own success. A win-win formula. That’s it! We think it’s a pretty big deal and we hope you do too.
This article is just a high-level view of where we are going. Please visit the other areas of this website for more details using the guide below.
This website traces the process, the thinking and the options behind the Yam Re-Org, as well as the solutions themselves.