As we progress closer to the launch of PhutureDAO conceptual ideas are turning into code and it’s bringing to light new ideas that we can layer into future releases. With all these new ideas, it has been important for us to structure the roll-out of the PhutureDAO, to ensure that we don’t segregate our user base across multiple versions of the platform. At a micro level this has meant considering future features and building the foundational elements into the v1 release to enable a smooth expansion of the product. At a macro level we have been considering the key building blocks that will enable us to take the PhutureDAO from an initial product to a fully fledged decentralised autonomous organisation. A tweet from Dmitriy Berenzon captures our approach aptly which focuses on delivering a great product first, building a community around the product and finally empowering that community through a token.
‘ Many crypto projects have their order of operations backward.’
‘It shouldn’t be: Token -> Community -> Product’
‘But rather: Product -> Community -> Token‘
Clearly without a great product, you don’t have anything… Zero. The core product in its most basic form should, by itself, compel people to use it without the addition of superficial extras. We have covered the overview of the PhutureDAO index platform in a previous post so head over there to learn more. But to keep it succinct we are maximising for two characteristics we think are central to the PhutureDAO’s success. Simplicity and security.
At this point, post product launch, the focus is on growing a community of users and this is where it is crucial to have a strong product and vision. Given enough time and exposure these two attributes will contribute significantly in cultivating a vibrant community that will provide utility to the token phase.
A key attribute of building the PhutureDAO community will be through providing ubiquitous access to our index platform through strategic partnerships with front line applications like wallets and exchanges.
In our experience a token economy that hasn’t been thought out and that is forced onto the user leads to a bad experience. New users will naturally be less inclined to adopt a token for a project they have zero affinity towards and therefore the token actually acts as a barrier to entry. That’s not what we are looking to do at PhutureDAO. No unnecessary payment token that could and should be replaced by ETH or stable coins. No governance token before there is a need to govern and before the tooling to affect change are complete. We at recognise that the presence of a token in the early stages of the PhutureDAO will inhibit our ability to make decisive changes and innovate on our core product offering. That said, we at PhutureDAO have a long term vision to leverage a token which enables us to drive new users through the platform, empowers the community with the ability to take shared ownership and influence the direction of the PhutureDAO. The Product, The Community, The Token… It’s only just the start, keep it PhutureDAO!