MetaCartel (Ventures)
MetaCartel (Ventures)
MetaCartel was one of the largest Moloch clone DAOs and it served to distribute funding to an “ecosystem of DAPP builders” in the form of grants. According to DeepDAO, MetaCartel dispensed $620K in funding (not counting $355K which was migrated to v2), seeing a total of 137 proposals approved of the 146 submitted.
MetaCartel migrated to a Moloch v2 DAO, these allow funds to be issued in a less convoluted way that does not require the recipient tom ragequit shares to receive spendable funds. The v2 DAO is still going, it has $60K left from the $443K it has received to date.
MetaCartel DAO Proposals: Number of voters (Y axis), version (1 or 2) and shares requested (size)
From the graph you can see that the number of accounts voting on each proposal is fairly small, for v2 this has dropped down to 0-3 voters per proposal. Most of the proposals that are voted on pass, with many rejections happening without anyone voting on the proposal.
MetaCartel also has a bigger sister DAO now, MetaCartel Ventures, which is a pivot to DAO as instrument of a conventional for-profit enterprise - or in other words, the DAO funders are now able to take equity positions and other considerations in exchange for funding. This DAO has a much larger balance, with $6.1M AUM (Dec 12 2020), and having already spent $3.8M. There is a private forum where details of deals are shared with DAO members, but the votes are publicly visible, and I can see that recently approved investments include Rarible and BrightID.
MetaCartel Ventures Proposals: Number of voters (Y axis), outcome (colour) and shares requested (size)
The Ventures DAO is sustaining a higher number of unique participants in its votes, although the maximum number to participate in a proposal is only around 18 out of the ~100 total members. In addition to proposals on investments, most of the proposals are for things like “DAO Member of the Month” and share awards, but also “Tax accounting services”.