enter the wormhole
the Tally newsletter, issue 133
welcome back to the Tally newsletter, your weekly source for DAO governance insights. i'm coolhorsegirl and i’m so happy to be here. 🟣
it’s Wormhole versus sybils this week! in their recently announced airdrop post, they emphasized how they ensured the DAO is full of genuine, value-aligned participants. we’re breaking down how they did this and some more stats for you future Wormhole DAO members.
a few proposals this week, coming from decentralized gaming platform DaxioDAO and Nouns—yes, they want to put a flag on a volcano in nicaragua. let’s get into it 👇
🤿 deep dive
crypto’s most multichain community is decentralizing! since its launch just over 3 years ago, Wormhole has facilitated over a billion messages across more than a million wallets. it’s time to DAO—Wormhole's new token-based governance system will allow token holders to influence the protocol's future, including decisions on connection management, contract updates, fee adjustments, rate limitations, and enhancing token utility.
the DAO comprises over 400,000 wallets from 30 different chains, who are eligible for a recently announced airdrop that distributed 6.78% of Wormhole's token supply (more on tokenomics here). this distribution strategy favored onchain users, allocating 81% of the tokens to them, with the remaining 19% earmarked for community groups like Zealy, y00ts, and Monad.
a critical aspect of Wormhole's strategy to ensure a fair and value-aligned DAO is its robust (and gnarly) stance on Sybil resistance. it implemented a comprehensive set of techniques to identify and combat airdrop farming, which can dilute the value of decentralization efforts. these methods include meticulous transaction analysis, ownership clustering, and sophisticated anti-Sybil detection mechanisms. by examining the historical transactions of users across various blockchains, Wormhole aims to identify genuine interactions, thereby ensuring that only authentic users contribute to the governance process.
ownership clustering is particularly vital in multichain environments, allowing the identification of multiple wallet addresses across multiple networks belonging to a single user. additionally, Wormhole's approach includes behavioral and source funding analysis to further safeguard against sybil attacks. behavioral analysis scrutinizes transaction patterns to differentiate real users from automated or malicious entities, while source funding analysis investigates the origins of funds to pinpoint suspicious activities, such as a single entity financing multiple wallets rapidly.
in their tweet thread, Wormhole explains this new standard for “how projects communicate airdrops to users.” i’m excited about this level of transparency even before DAO launch, and i’ll be following closely whether it pays off. keep ya updated!
⌛️ onchain proposals
💙 DaxioDAO
Arctic Coffeehouse Daxio DAO Partnership Proposal
summary: Arctic Coffeehouse, a Norwegian coffee brand, proposes to partner with DaxioDAO to expand globally, offering a mint of 5,000 NFTs at 0.5 ETH each, providing holders with a 10% discount on products and 10% royalties from worldwide sales. the proposal includes benefits for referring wallets, royalties to DaxioDAO from both the NFT mint and coffee sales, and utility for SDAX holders in purchasing products.
voting ends: march 18th
🟡 NounsDAO
Conquering a volcano in the name of Nouns - Docuseries with Sunny Pires in Nicaragua
summary: 6 ETH to fund a docuseries featuring Sunny Pires, a professional surfer sponsored by Nouns, to amplify his journey and the impact of web3 and DAOs in the surfing community. the series will document his ambitious mission to plant a Noggles flag on an active volcano.
Voting ends: march 14th
💫 DAO talk
🤭 meme of the week
~ coolhorsegirl 🐴
p.s.- my hometown is a far cry from my home in London. it’s beach weather here.
