The ICP Community Conference is set to undergo a transformation into a DAO (decentralized autonomous organization) after its upcoming live event on May 10. Decentralization is a key principle in the blockchain industry, and DAOs allow members to have voting power in shaping the future of a protocol. However, some smart contract setups can undermine decentralization by giving majority voting power to a few wallets or allowing actions without community approval. The Internet Computer Protocol’s SNS framework aims to address these issues by creating fully decentralized DAOs that empower the community.
The ICP Community Conference (ICPCC) is an event brand centered around the ICP ecosystem. Its goal is to host annual conferences that educate the wider Web3 industry about ICP and demonstrate its integration and value with other popular chains like Bitcoin, Ethereum, and Solana. The upcoming ICPCC 2024, scheduled for May 10, will be a global livestream event with meetup watch parties in more than 25 cities worldwide. The event will feature content creators, live MCs, and innovators showcasing the potential of ICP in the Web3 ecosystem.
The livestream is carefully planned to accommodate prime times in all three major time zones. The Asia-Pacific stage will have a standalone ICPCC pre-party livestream hosted by Yuku metaverse. The main 9-hour livestream will kick off during the European time zone and conclude during United States primetime.
This event is an experimental step towards achieving a higher level of decentralization. The entire event series will transition into a DAO that will oversee the ICPCC brand going forward.
The new DAO will be governed by elected council members, collectively known as the ICPCC Council. These council members, who act as paid vendors, will be responsible for drafting complex proposals that align with the DAO’s primary goals. However, they will not have the authority to act on behalf of the DAO. Their role is limited to preparing high-quality proposals, while other DAO members can directly elect or remove council members.
As an SNS DAO, the new organization will utilize unique features that enhance decentralization and streamline participation. All components of decentralized apps (DApps), including the front end, back end, and data, will be on the blockchain. This allows the DAO to have complete control over every aspect of a DApp through voting. Additionally, front-end interactions will not require any gas fees, removing a significant barrier to blockchain development.
The treasury wallet of the DAO will not have multisig or custodians, ensuring complete control by the organization in a gasless and affordable environment.
The upcoming DAO will be responsible for organizing and promoting the ICPCC brand and its events. This requires ownership of intellectual property and hiring vendors. To fulfill these requirements, the DAO is registered as Marshall Islands DAO LLC, granting it legal entity status to sign contracts and exclusively manage IP through on-chain proposals. The annual registration fee will be paid in USD Coin (USDC), marking a milestone for crypto adoption.
Attendees of the ICPCC event will have the opportunity to become owners of the DAO. The event is currently organized by Code & State, an ICP-focused venture studio, which has already delegated all rights related to ICPP. The decentralized organization will then vote to elect council members who will submit proposals.
Isaac Valadez, the venture lead at Code & State, expressed excitement about the upcoming DAO launch and mentioned that the event will also offer opportunities to win airdrops of various tokens and NFTs. Participants who enter airdrop codes during the event will be whitelisted for future airdrop allocations. Starting from 2025, ICPCC DAO LLC will also host an annual in-person conference.
To learn more about the ICPCC, visit their website.