How we Launched our Growth DAO Airdrop
Why did we share ownership?
What came first: the chicken or the egg? It doesn’t matter. All that counts is that we can enjoy eggs for breakfast these days. Growth DAO is focused on the end-game, a thriving community of Web3 startup experts building companies we can be proud of. In order to launch this community, it was important we had a community in the first place.
Over the last 3 years, we’ve been working with a distributed team of experts, so this felt like the best place to start. We needed a big-bang event to kickstart Growth DAO into life. So we chatted with our existing community and 30 people joined us on the Growth DAO journey. These 30 formed the core community and covered all the bases for us to launch. If we all have ownership then we’ve successfully decentralised and can work together to achieve a bigger outcome. Bigger than the big bang? – maybe.
1+1+1 = Community
So how did you decide on the share of ownership? I hear you ask. Good question. We wanted to ensure that the founders Tom and Tristan were taken down a peg and share official decision making power with the community. We hit the drawing board and calculated the fees by each member over the last 3 years at Growth Division. This would form the split of ownership and fairly distribute decision making to members who have been around the longest and committed their time to the rest of the community. AKA – we calculated their reputation!
The below image is an extract from our tracker to calculate ownership based on earnings. We totted up the totals and divided £1,189,157 by everyone’s earnings to create a % ownership. As agreed in our whitepaper discussions, Growth DAO allocated 5% of total token supply to the airdrop. This meant 5m GRWTH tokens would be initially distributed to the community. So we multiplied these together, and voila, we had our core community ownership distribution.
What the hell’s an airdrop?
Ok, so now you’ve calculated the reputation, now what? Here comes the sexy bit, we go live on the Blockchain. That immutable beast means we lock in the ownership to each individual, who retains the power to create proposals and vote over key community decisions. We wanted to keep it simple and close off to our core community in the first instance.
After nights of research, we decided to leverage the Colony platform to orchestrate our Airdrop and ongoing DAO management. The Growth DAO treasury minted the airdrop tokens, whitelisted the 30 members by their usernames and forced the distribution of GRWTH according to the calculated breakdown. Here we go.
The balls in your court
Now the airdrop has been executed, the fun begins. We’re hoping the community takes on initiatives of their own and continues to build our client base. Members will continue to earn GRWTH each month in accordance with their ownership across Growth DAO and Growth Division. Scouts can also earn GRWTH by referring new clients, members and investors. With these incentives in place, the sky is the limit for Growth DAO. If you want to join us, you can apply via the site and the community will vote you in.
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