What’s a DAOlationship and Why is ConsenSys Having One?

What’s-a-DAOlationship-and-Why-is-ConsenSys-Having-One
  • ConsenSys has partnered with Bankless DAO for a ‘DAOlationship’.
  • According to ConsenSys, a DAOlationship means a partnership between a traditional firm and a DAO.
  • DAOs have yet to prove themselves in terms of utility and efficiency.

Prominent blockchain firm ConsenSys has announced its so-called ‘DAOlationship’ in a joint endeavor with Bankless. As per a press release, the partners will provide a suite of support for decentralized autonomous organizations (DAOs) in the future.

As to the origins of DAOlationship, ConsenSys may have coined the term. According to ConsenSys, this is what a DAOlationship refers to in a nutshell:

“A DAOlationship is a mutually beneficial relationship between ConsenSys and partner DAOs that provides partner DAOs with top-tier talent and supports ConsenSys employees in exploring the broader DAO ecosystem.”

In other words, traditional organizations such as ConsenSys that partner with DAOs for a common interest can enter a DAOlationship. In the aforementioned partnership, DAOs will receive benefits from ConsenSys. Specifically, the partnership aims to reduce challenges in the DAO onboarding process and enhance DAO activities and engagement.

DAOs became a hot topic recently, as various personalities in the crypto space are debating its success — or failure — as a decentralized organizational framework. Yesterday, the Commodity Futures Trading Commission (CFTC) filed a case against Ooki DAO, the successor to bZeroX through voting done using BZRX tokens.

As it stands, most DAOs have yet to prove themselves in terms of utility and efficiency. On the other hand, this DAOlationship between ConsenSys and Bankless will provide an experimental setup for employees. Bankless DAO will also gain access to “valuable contributors” with the hope of enhancing their output. 

Meanwhile, the press release did not specify further which contributors the partnership is referring to. The document also did not elaborate on how the DAO outputs will be enhanced.

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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.