https://www.youtube.com/watch?v=zT3uvnNhZnE&feature=youtu.be
Morning, everyone. First, I'd like to welcome the industry leaders and our ecosystem partners joining us today. What a great year for Web3 and Harmony! Not only did DeFi products find the billion-dollar market fit, NFT is now a household word. But the most exciting of all is how DAOs are going to change our future of work and social – below is how our story starts.
https://www.youtube.com/watch?v=58Gn-C0mSYc
Just a few weeks ago in Lisbon, we were announcing our $300M ecosystem fund for 100 DAOs. Today I am proud to report that our 23 DAOs are now funded with Gnosis Safe multi-signatures and Snapshot votings. Our Research DAO already has multiple top professors as governors and giving travel grants to students; our Wallet DAO spawned three mobile clients and pushed through many security audits.
Our bottom-up approach is the "Basic Income" DAO, paying creatives and builders at $75 per hour – globally for at-will contributions. Our top-down approach is the "Organic Liquidity" DAO, market-making across tens of exchanges by thousands of strategy bots – with aligned and public incentives. Harmony has committed millions of funds to these initiatives. More importantly, we have pushed their formations, governance, and milestones in the public – all as open development across chains.
100 DAOs and Top-Level Domain .country
Let's deep dive into a new DAO I will be spending lots of time on in the coming months. zkDAO for zero-knowledge proofs, cryptographic primitives, and privacy. That's where the 100x benefits and the magical use cases come in. We are focusing on ZK innovations that are the most likely to reach millions of users in 2022. We are most interested in universal ZK constructs that are the building blocks for Web3.
In particular, here are six ZK products that already have prototypes on mainnet. The first is compressing computations and states to succinct representations – namely, low-fee zkEVM rollups, trustless Flyclient bridges, and stateless Non-Interactive-PoPoW clients. The second is protecting privacy across multiple chains and Web2-to-Web3 actions. For example, cross-chain coin mixers like Tornado – which is a top use case with 35K users and $6M revenue; Ethereum Foundation's Semaphore Project now enables anonymous authentication and voting. Lastly, fairness is now guaranteed on blockchain. Verifiable Delay Functions (VDF) will be a key primitive for randomness in games and lotteries; anti-collusion for quadratic funding will be critical for anonymous and open grants.
zkDAO – Succinct, Private, Fair
We must always remind ourselves of why we are building – the radical change and the 10x impact. What are our goals beyond benefiting tens of thousands of traders and accumulating hundreds of billions of assets? Harmony is asking where we can distribute the future for good: Where should the crypto cities be based? Who are the most in need that the technology can serve? Hence, I am very glad today to announce the $2M funding for our Africa DAO.
In Africa, blockchain can facilitate digital identities, better value-chains, and environmental traceability, and reducing the possibility of fraudulent elections. Blockchain can also tackle corruption and provide better documentation to safekeeping land titles or medical records. This DAO's 3-month milestones and deliverables have already started: bootstrapping an incubator in Uganda, hosting ETH Kenya with grants for hundreds of scholars, and minting NFT for biodiversity and preservation efforts.