2. David Barreto
Web3 Consultant
Venezuelan - Canadian
Lives in Toronto
Bsc. Electronic Engineering
Msc. Systems Engineering
david-barreto.com
@barretodavid
LinkedIn
Youtube
4. A Distributed System
The Cloud
Benefits:
- High availability
- High performance
- Cheap
Downside:
- Central authority
- You can be banned
- They can delete or
modify your data
AWS
AWS
AWS
AWS
AWS
AWS
5. A Distributed System
The Blockchain
Benefits:
- High availability
- Censorship resistant
- Secure
- Immutable
Downside:
- Slow
- Expensive
- Complex
Bob
Alice
Mike
David
Olga
Jake
Learn more: https://david-barreto.com/bitcoin-explained-without-complicated-terms/
6. Types of Blockchain
Single Purpose
Multi-Purpose
(smart contracts)
Bitcoin ($600 billions)*
Dogecoin ($11 billions)*
Zcash ($1.3 billions)*
Ethereum ($230 billions)*
Polygon ($5 billions)*
Solana ($15 billions)*
* Market cap as of May 30th, 2022
9. An NFT is the Proof of
Ownership of a Digital Asset
10. Asset Owner
cat.jpg Bob
dog.jpg Bob
Bob’s Database
Asset Owner
cat.jpg Alice
dog.jpg Bob
Bob creates “NFTs”
Bob sells “NFT” to Alice
Asset Owner
ant.jpg Alice
dog.jpg Bob
Bob scams Alice
Asset Owner
cat.jpg Alice
dog.jpg Bob
Bob stops paying to
his database provider
Asset Owner
cat.jpg Hacker
dog.jpg Hacker
Hacker attacks Bob’s
database
The Risks of Regular Databases
…and many more
Learn more: https://david-barreto.com/the-hidden-risks-of-owning-an-nft/
11. if requestor is owner
change ownership of NFT
else
reject transaction
Smart contract
Blockchain
Transfer ownership of NFT to Alice
Sure, you are the owner Bob
Transfer ownership of NFT to Mike
No, you are not the owner Bob
Transfer ownership of NFT to Mike
Sure, you are the owner Alice
12. Why is Proof of Ownership so Important?
Learn more: https://david-barreto.com/whats-an-nft/
17. What is a DAO?
Decentralized Autonomous Organization
Organization native to the blockchain (web3)
Implemented as a set of smart contracts
Radically transparent & “democratic”
Community coordination through tokens
Different voting mechanisms and workflows
Not legally recognized
Ex: Balancer, Uniswap, Compound, HubCityDAO
18. Community
Group of people that
work together towards
a particular goal
Chat Room
Place where ideas are
discussed
Voting
Community reaches
agreements
Treasury
Funds to make the
communal goal a reality
Building Blocks of a DAO
[blockchain]
[blockchain]
19. Virtual Land
$50,000
Bob
$5,000
Alice
$35,000
Jim
$10,000
DAO Treasury
$1,000 : 1 token
$5,000
5 tokens
$35,000
35 tokens
$10,000
10 tokens
Should we buy
Virtual Land A for $50,000?
NO
vote x5
YES
vote x35
NO
vote x10
Result: YES
DAO Assets
$50,000
5 tokens
10% treasury
35 tokens
70% treasury
10 tokens
20% treasury
20. Future Value
$100,000
5 tokens
10% treasury
35 tokens
70% treasury
10 tokens
20% treasury
Should we sell the
Virtual Land for $100,000?
YES
vote x5
YES
vote x35
YES
vote x10
Result: YES
DAO Treasury
$2,000 : 1 token
5 tokens
$10,000
35 tokens
$70,000
10 tokens
$20,000
$100,000
21. 1 Coin = 1 Vote
=
Positive:
- Easy to implement
- Another mechanism to raise funds
Negative:
- Plutocracy
- Votes can be purchased
=
1 Wallet = 1 Vote
=
Positive:
- Easy to implement
- Works well for closed community
Negative:
- Can be exploited in open community
=
1 Human = 1 Vote
=
Positive:
- Democracy
- Suitable for open communities
Negative:
- Difficult to implement
- Expensive to use
23. Should we mint an
NFT to raise funds?
An NFT of what?
What sell price?
Which format?
Should we put for sale an NFT
of a gold mask for 2 ETH?
Example Workflow
24. Sotheby’s to auction original
copy of US constitution
Idea of DAO to bid for the
constitution as a joke
1 ETH = 1,000,000 $PEOPLE
Raised $47 millions in 7 days Lost auction Refund & secondary market
ConstitutionDAO
25. AssangeDAO
Telegram group discusses DAO
to buy NFT created by Pak
UK to allow extradition of
Julian Assange to the US
1 ETH = 1,000,000 $JUSTICE
Won auction Money used to pay for Assange’s
legal defense and PR campaings
Raised $40 millions in 5 days
27. 1 $ETH
1,000,000 $HUB
mary.eth
2 $ETH
2,000,000 $HUB
company.eth
4 $ETH
4,000,000 $HUB
dao.eth
should we fund
project X?
YES
YES
NO
YES: 5,000,000 $HUB
NO: 2,000,000 $HUB
Result: YES
Governance-only Token
28. Gnosis Safe
Leading multisig wallet
Available on multiple blockchains
Available as a web app, desktop and mobile app
Gasless approval of transactions
Integration with leading dapps
Can be extended to be a full DAO
29. Aragon Client
One stop solution for DAOs
Available on Ethereum and Polygon
Pre defined templates for quick DAO creation
Integrated with multisig wallet
Interaction with dapps through “Frame”
Only available as a web app (no mobile app)
30. Juicebox
Decentralized app (dapp) for crowd-funding
Implemented as a set of smart contracts on
Ethereum
Used by ConstitutionDAO, AssangeDAO and
HubCityDAO to raise funds
Great for distributing governance tokens
Tokens can have intrinsic value via “overflows”
Ability to define “early bird” deal for
contributors
Integrates with Gnosis Safe via custom app
