- TheCafeDAO, a Decentralized Autonomous Organization (DAO), initiated a pop up coffee stand in Seattle previous week for a test run.
- The humble coffee stand was situated outside Seattle NFT Museum, with a menu containing just single item.
- With the DAOs still in their infancy, founders also identify that decisions are not decentralized at all.
Coffee ‘Awakens’ Web3
TheCafeDAO, a DAO, introduced a pop-up coffee stand in Seattle during the previous weekend, a pilot for what it believes to be the initial brick and mortar storefront operated wholly via a DAO structure.
The humble coffee stand was situated outside Seattle NFT Museum, with a menu that consisted of just a single item — pour over coffee for just $5 a cup.
DAO market itself as “cafe everyone owns,” with clients and workers being given “coffee tokens” that offer governance rights and discounts with every purchase. The tokens themselves are still in the alpha phase and have yet to be linked to any blockchain, with DAO utilizing previous weekend’s pop-up as a trial run for tokenomics.
It’s fresh in a string of DAO experiments seemingly kickstarted by shiny but eventually failed debut of ConstitutionalDAO previous November, proving to several the difficulty and potential of DAOs performing real life stuff.
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Notion of TheCafeDAO initially came about in a Reddit post created previous August by Dan Car, one of discovering members of the DAO, asked a question that “What if they create a decentralized Starbucks?”
Coffee With Governance
The back end on the coffee token of DAOis a setup more complicated than an average reward coin.
Price of each token is $5, pegged to a 12 ounce coffee cup. Every time a coffee is bought, a latest is minted.
A bit of token, around $3.5 worth, is then burned to account for operating costs. Rest of the part is then shared among clients, DAO treasury and workers. Holders of the token can either redeem their coins for fiat or keep them for governance rights, with a cup of coffee is equal to single vote in whatever proposals are offered by members of DAO.
Source: https://www.thecoinrepublic.com/2022/05/07/web3-come-alive-cafedao-in-seattle-examines-brick-and-mortar-dao-design/