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How to Join and Contribute to a DAO | by Weeze | The Index Coop | Nov, 2021

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How to Join and Contribute to a DAO | by Weeze | The Index Coop | Nov, 2021

The booming DAO ecosystem has played a significant role in coordinating the recent rise of DeFi and NFTs. But with so much innovation taking place across Web3 right now, nearly all DAOs are growing and in need of talent. In this article, we’ll take a look at how you can join a DAO and make meaningful contributions.

DAO stands for “decentralized autonomous organization.” Breaking it down by the definition of each word can provide additional clarity:

  • Decentralized — (adjective) / controlled by multiple agents, often equally
  • Autonomous — (adjective) / having the freedom to govern oneself or control one’s affairs
  • Organization — (noun) / a group of people with a particular purpose

You can think of a DAO like an internet-native cooperative that is organized around a common goal and jointly owned by its members. DAOs align around a core mission and use shared resources to achieve that mission. Compared to traditional companies, they are a new paradigm for work and capital coordination.

While it’s still early days for DAOs, their popularity is undeniable with hundreds now in existence. The early DAOs were generally finance-related, but the landscape has broadened to cover a wide range of sectors with many different purposes. Here are a few examples:

  • Grant DAOs — allocate donated funds to various contributors and projects
  • Protocol DAOs — develop an underlying network/project that is owned and operated by its community
  • Investment DAOs — enable members to pool capital and invest in early projects with low barriers to entry
  • Service DAOs — create decentralized working groups for individuals to work for the open internet — essentially acting as crypto-native talent agencies
  • Social DAOs — focus on social capital, culture, and what it means to be a digitally-native community
  • Collector DAOs — collect and curate NFTs, art, and all things internet meme/lore worthy
  • Media DAOs — create and share content with the community to spread awareness and news

The DAO landscape is in hyper-growth mode, so it’s fair to say there is something for everyone in the ecosystem. Contributing is a great avenue to invest your time and effort with a like-minded community and even get rewarded for doing so! Whether you’re looking to pitch in a few hours here and there or are considering going-full time, DAOs offer a low barrier to entry with near 24/7, remote collaboration opportunities. These young internet communities need all kinds of specialists and have significant treasuries at their disposal to compensate you for your contributions.

Once you’ve found a DAO of interest, there are a few different ways to get involved. Most DAOs have a discord where the majority of the day-to-day activity and coordination takes place so that’s a great place to start. Many DAOs also have a forum or governance platform where more in-depth discussions and formal proposals take place. Take time to browse these platforms to get familiar with how the DAO is organized and operates. Also be sure to jump at the chance to participate in any onboarding or new joiner activities that the DAO might offer.

Once you get your bearings, test the waters and see what group/pod/division within the DAO might be a match for your skills and spark your interest. There’s a home for everyone: developers, marketers, designers, accountants, product owners, community managers, governance operators, and the list goes on. The most important advice for a new joiner is it comes down to your own initiative. You choose how and when you want to be involved.

The Index Coop is a DAO focused on enabling the creation and adoption of crypto index products. We collaborate with industry experts to launch and maintain indices that make investing in crypto easy and accessible for everyone. If that mission resonates with you, check out the official Index Coop website and consider joining the community on Discord. If you like what you see, complete our Copper Owl Quest, designed specifically for new joiners, to start getting involved!

Disclaimer: This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

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