Last November, at Web Summit in Lisbon, we announced OMA3 becoming an official legal entity in Switzerland and our goal of creating a Web3 consortium became a reality. But creating a traditional consortium realizes only part of our governance plans for OMA3. The other part is building a DAO, because DAOs have the potential to solve many of the member apathy issues common in all consortiums.
Today we’re releasing the first public draft of the OMA3 SBT Litepaper, our first step to realizing our DAO governance goals. We’ve designed the OMA token architecture from the ground up, and so it looks a lot different than most DAOs out there. For example, we’re not using a fungible token for voting. Instead, every OMA3 member holds a single SBT they use to vote- one member, one vote. Such a voting system is already described in our Organizational Documents. OMA3 SBTs also have another role- tracking the reputation of each member. Reputation influences the opportunities available to a member in OMA3. We encourage you to read and comment on the litepaper as we value your input. There are two ways to do so. The first way is to create an issue in the repository. The second way is to comment in the Google Doc that holds the text.
In conjunction with the SBT Litepaper we are announcing the formation of the OMA3 Token Working Group (TWG), led by Mohamed Ezeldin and Jerry Lai of Animoca Brands’s tokenomics team. Animoca has been involved in the design of some of the most innovative projects in Web3 and they were instrumental in the design of OMA3’s SBT. The TWG will take OMA3’s SBT the rest of the way, refining the concept, creating the technical specification, developing the software, and deploying the contracts. If you want to push the boundaries of decentralized governance, consider joining OMA3 and participating in the TWG.