The quickest way to start a DAO could look something like this:
- Write down your Mission.
- Find a couple friends from Twitter, Discord, or real life who are interested.
- Start a Gnosis multisig wallet.
- Agree on basic Governance and Voting rules.
- Each member sends a small amount of money to the wallet.
- Setup Snapshot for voting. If a vote passes, initiate a transaction in Gnosis.
Ta-da! Now you have a DAO. This is one common way to start a DAO, but your mileage may vary depending on factors like the number of members, plans to raise money, or the need to develop custom smart contracts to govern the DAO.
Some bonus steps for the more sophisticated:
- Incorporate a legal entity in Wyoming or another DAO friendly jurisdiction, especially if you plan on purchasing real-world assets
- Research other forms of governance, for example Aragon and Nouns, that may provide replacements for using a multisig
If you end up starting a DAO because of this book, I'd love to hear about it! Feel free to let me know personally at scott [at] citydao.io.