Proposal: Mission Refinement

There are five non-binding paths the DAO could pursue to generate revenue. Each path is listed below with illustrative examples of potential revenue-generating projects. The DAO may create working groups to prioritize the development and delivery of revenue-generating ideas, and the Senate will fund such working groups at its discretion up to 18 ETH over the next 12 months.

The Senate will move all remaining liquid treasury into a 70/30 split between ETH-based LRTs (eg 10% ETH, 15% wstETH, 15% weETH, 15% rETH, 15% rsETH) and USD equivalents (eg 10% USDe, 10% USDS, 10% crv 3pool). The Senate may simplify the LP management at its discretion, using providers such as Morpho or Beefy.

A vote will indicate the preferred but not required path for the DAO:

1. No-code chip management & trusted service registry

2. Delivery of real world assets & supply chain provenance

3. Network state management & reporting

4. Proof of asset L1 blockchain

5. Social club

No-code chip management

Ethereum Reality Service (“ERS”) has received significant DAO resources but has not seen much promotion or adoption. A working group might be created to promote ERS, attempting to onboard large brands and individual creators to chip their products and refer to ERS as their canonical source of authenticity. Additional development work may be required to produce no-code chip management tools and to demonstrate the utility of the registry for widely-used applications.

Supply chain provenance

Supply-chain provenance and chain of custody are important unsolved problems in peer-to-peer marketplaces. The existence of cryptographically unique proofs of authenticity enables a verifiable chain of custody and an ironclad protocol for passing monetary responsibility from party to party in the course of delivery and distribution. A working group may design and build crypto systems for suppliers with supply chain verification challenges, auditors who validate these chains of custody, and insurance firms who investigate and pay out claims.

Network state management

Kong Land holds itself up as a “crypto state,” a term we coined before Balaji Srinivasan's “network state.” There is a lot of overlap between these ideas, and the sovereignty of network states ultimately derives from their hardware and network security guarantees. The Network State Conference is coming in October, and it represents a Schelling point to discover the particular challenges of existing network states. Working groups may be assembled to improve the Agora to produce network state performance KPIs, to recruit growing network states like Prospera or Praxis, and to build tooling for their operations.

Proof of Asset L1 Blockchain

A persistent issue in blockchains is the essential anonymity of miners on the network. Because it's cheap to produce identities, it's necessary to run expensive Proof of Work or Proof of Stake systems to lower bound the cost of attestations to the network. Given a network with physical constraints on the manufacture of new identities, it is possible to create more efficient consensus and state propagation to all participants. Working groups may establish tokenomics and protocol performance parameters for such a novel network, and fund the creation of the minimum testnet.

Social club

If Kong Land is too busy to push forward the state of the art, we can always chill and have fun at various events. 30 ETH in treasury can pay for pop-up embassies at a variety of conferences for the forseeable future. Working groups can plan parties, concerts, hackathons, and other paid events for people to enjoy on the crypto conference circuit.