Introducing the AmpleSense DAO!

We are pleased to introduce the AmpleSense Decentralized Autonomous Organization (DAO).

In just a matter of weeks, the Ampleforth project has experienced significant growth. As the community has grown, it has begun to experience some unique challenges:

  • Communication: Ampleforth, the first elastic finance asset, has a very simple design, but its impacts are complex and difficult for the average cryptocurrency investor and user to understand. There is a need for sustained, clear and engaging communication about the protocol that helps to educate, inform and grow the community.
  • Utility: The core Ampleforth developers have been working to create deep liquidity for the token across decentralized and centralized exchanges. This liquidity is necessary for use cases such as lending, borrowing and trading to occur, but it is only the first step.

There are many other types of products and services that can be built on top of the Ampleforth protocol that the community needs, but the market (and the core team) may be unwilling or unable to deliver.

What Are the Goals of the AmpleSense DAO?

One question you may have is this: Why create a DAO when the Ampleforth core developers are working to achieve similar goals? Other major cryptocurrencies, such as Ethereum and Bitcoin, are surrounded by an active and vibrant community that is dedicated to their growth. For Ampleforth to reach its full potential, our community will need to take an active role in its development and utilization.

To that end, the AmpleSense DAO is collaborating with the core Ampleforth developers on its short- and medium-term priorities to ensure that our community-based efforts remain aligned with the protocol’s development.

In order to address and solve these challenges, a group of dedicated Ampleforth community members has come together to form the AmpleSense DAO (ASDAO). DAOs are decentralized organizations that can bring communities together to achieve new goals.What is the AmpleSense DAO?

The AmpleSense DAO is a community-run DAO that works together and allocates DAO treasury funds to Ampleforth ecosystem development applications and products.

The AmpleSense DAO: Initial Roadmap

Initial Roadmap

The DAO’s initial roadmap is outlined above. The key events are:

  • DAO Founding: The DAO’s initial leadership consists of the following community members (identified here by their Telegram handles: @davoice321, @FudBuster, @CryptoCav and @SolomonSollarsNSense). This group has been working on the DAO’s roadmap, structure, digital assets, and engaging with the Ampleforth core development team around the DAO’s mission and initial activities.
  • DAO Treasury Seeding Event: The DAO will have a Treasury which will be used to fund DAO activities and third-party products and services developed for the Ampleforth community.

*Details about the Treasury seeding activities and funding will be announced in a future update.

  • Vision Votes 2020: Vision Votes will be the DAO’s first major activity. With input from the community, we will concentrate on key areas of focus for the DAO during Q3 to Q4 2020. The voting process will be two-phased:

Phase I: Community Discussion and Signalling: The DAO will present priorities to the community for discussion in the AmpleSense forums. The community will then be able to place non-binding votes (using a DAO-issued cryptocurrency — and potentially AMPL) on which proposals they feel will be most beneficial to the community.

Phase II: DAO Voting: Taking the community signals (non-binding votes) into account, the DAO leadership and voting members (those who hold ASDAO tokens) will vote on which priorities to focus on during H2 2020.

  • Round I RFPs: Based on the results of the Vision Votes 2020 process, the DAO will issue Requests for Proposals (RFPs) from the community around initial DAO priorities. These proposals will be voted on by the community and DAO leadership using the two-stage process followed for Vision Votes 2020 (outlined above).
  • Round I Projects Launch: Launch of selected projects.
  • ASDAO Report: The DAO will issue its first report to the community outlining initial activities, successes, proposed future plans and other topics
  • Vision Votes H1 2021 and Project Launches: Community and DAO vote on priorities and Round II projects.

How Can I Participate in the AmpleSense DAO?

There are a few ways to participate in the AmpleSense DAO:

  • Stay tuned: We’ll have an update on the DAO Treasury seeding event and DAO-issued tokens, and how to become a member of the DAO soon

Join the AmpleSense DAO community on:

A global community focused on improving understanding and adoption of AmpleForth, the pioneer of elastic money.