JokeDAO (JOKE)

Jokedao is bottom-up, on-chain governance for communities to submit entries and vote on favorites.

Basics

• Based in:
• Started in / Announced on: 7-2022
• Testnet release:
• Mainnet release: 13-7-2022
• From their Twitter (18-7-2022):

"What can jokedao be used for? you can use us for grants, endorsements, bounties, user-generated roadmaps, generating ideas, curation, contests, and giveaways. or if you're a content creator, your fans can submit and vote on the content they want you to make."

Audits & Exploits

• Bug bounty program can be found [insert here].

Token

Utility

• From their Twitter (18-7-2022):

"what are the jokenomics? $JOKE lets you vote in jokeraces, propose and vote on new jokedao features, govern jokedao's treasury, and delegate to workers. joke NFTs let you govern the jokerace and jokerace treasury of eth & NFTs. each can veto the other."

Technology

• Whitepaper or docs can be found [insert here].
• Code can be viewed here.

Implementations

• Built on: Polygon

How it works

• From their Twitter (6-9-2022):

"jokedao is bottom-up, on-chain governance.

~ communities submits proposals in response to a prompt

~ they vote on their favorites

that's it. but we think our unlock is *iterative governance*—using multiple rounds to flesh out proposals to ensure consensus."

• From their Twitter (18-7-2022):

"how do contests work? during the submission period, just tap "submit" to submit an entry. then during the voting period, just tap the votes counter to add votes. each entry is also a stand-alone page you can tap to get info on voters.

how do i set up a contest? just go to "create contest" on our site. you can set up the rules for submissions and voting, mint a voting token, and airdrop it to your community.

how do submissions work? you can set the submission period for whenever you like. during that time, anyone can submit entries responding to a prompt—including links to pics and tweets that we render. let anyone submit—or require them to have a minimum number of your tokens.

how does voting work? voting starts when submissions end, and you can set voting to end whenever you like. we'll be enabling a number of ways to handle voting power, including 1 vote per token, vote decay over time, quadratic voting, etc. voting is done with a voting token.

how do voting tokens work? voting tokens need to be compatible with our smart contracts, so we recommend minting them on our site. airdrop to your token holders for one-time use—or make them your official token to use in future contests. you can make them non-transferable too.

if my token is on eth or another chain, can i still use jokedao for on-chain governance? yes! here it gets fun: mint a voting token on any supported chain and airdrop to your holders. they can participate for cheap without even knowing they're using a voting token."

Their Other Projects

Jokerace

• From their Twitter (12-5-2022):

""how does the jokerace work?" you get 1 vote every week for each $JOKE you hold. if you vote on the #2 joke, you'll win more $JOKE, proportionate to your votes. winner is minted as an nft with 20% to the joker, 20% to charity, and 20% to jokedao."

Roadmap

• Can be found [Insert link here].

Revenue

• From Our Network (11-2024):

"The project has two revenue streams — a submission may be paid in order to enter a contest; a vote may be paid in order to vote for a submission. Since monetization launched in early 2024, JokeRace has held 666 contests and generated $121k in revenue, which is split 50/50 with the protocol and contest creator."

Usage

Projects that use or built on it

• Juicebox, Tally and MakerDAO have held contests (6-9-2022).

Competition

• Jokedao doesn’t compete with voting protocols like Snapshot. Rather, jokedao competes with the forums where discussions which precede votes on Snapshot happen.

Team, Funding and Partners

Team

• Full team can be found [here].
• David Phelps and Sean McCaffery are the co-founders
• Jokedao has one other primary contributor named Naomi Hauret, who does engineering and design for the project’s frontend (15-10-2022).

Funding

• McCaffery sees many avenues for jokedao to make money, such as allowing winning proposals to be minted as an NFT, but says (15-10-2022) the project’s mission isn’t really financial.
• Also got grants from Protocol Labs and The Graph (13-9-2022).
• From their Twitter (18-7-2022):

"jokedao was originally self-funded and has since received grants from @polygonstudios @0xPolygonDAO @AaveAave @juiceboxETH. we are designed to be a fully open source public good that can decentralize as we reach key milestones."

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