Web3研究：一文读懂 Flamingo DAO

2016年5月，以太坊团队的部分成员建立了第一个DAO，用为区块链和加密空间的风险投资运作。

May 2016 xff0c; the first DAO， was established by some members of the Taiwan team; it operated as a risk investment for block chains and encryption space.

该DAO通过发行代币换取ETH来筹集资金，获得了巨大成功，总计筹集近1.5亿美元的资金。

The DAO raised funds by issuing a currency in exchange for ETH xff0c; obtained a great deal of success xff0c; and raised a total of nearly $150 million.

但由于现在一个众所周知的技术缺陷，致使一个或几个黑客从DAO中窃取了近7000万美元。后来，以太坊强制将黑客的资金发送到原有人可以使用的账户上，尽管这一举动备受争议。

But because of a well-known technical defect xff0c; one or more hackers stole nearly $70 million from DAO. xff0c; later forced money from hackers to be sent to accounts that were available to the original people xff0c; this was a controversial move.

另外，美国证券交易委员会发现这个DAO的代币是有价证券，因此受联邦证券法的约束。为保护投资者并确保适当披露，如没有豁免，任何与营利性DAO所有者利益有关的代币都必须在注册交易所交易。

Also xff0c; the US Securities and Exchange Commission has found that the DAO’s token is a security xff0c; therefore, it is subject to federal securities law. To protect investors and ensure proper disclosure of xff0c; if there is no exemption xff0c; and any currency related to profit-making DAO owners’ interests must be traded on a registered exchange.

不出所料，这个DAO不久就关闭了，但人们对DAO的兴趣远未结束，相关的实验仍在继续。

Unexpected xff0c; this DAO closed xff0c soon; but interest in DAO is far from over xff0c; related experiments continue.

公司历史和重要人员

/strang'

?TributeLabs（前身为Open Law）：

? TributeLabs（ formerly Open Law） xff1a;

2017年6月，Flamingo DAO的创始团队首次聚集起来，创建了“OpenLaw——李嘉图合同系统”，目的是创建可以被人类和机器理解的合同，更重要的是能为机器理解，因为这能把合同以密码方式签署、验证和存储在区块链上。因此，OpenLaw可以作为桥梁联通传统法律制度和新兴密码世界。

June 2017 xff0c; the founding team of Flamingo DAO gathered together for the first time xff0c; created the OpenLaw-Ligato Contract System xff0c; designed to create contracts that can be understood by humans and machines xff0c; and, more importantly, for machines to understand xff0c; because it allows contracts to be signed, authenticated and stored on a block chain. xff0c; OpenLaw can therefore be used as a bridge to connect traditional legal systems and the emerging cryptographic world.

李嘉图合约系统是由Aaron Wright提出的。Aaron Wright是一名受过培训的律师，致力于研究区块链和相关法规，他还出版了《区块链和法治》一书。

The Richter contract system was initiated by Aaron Wright. Aaron Wright is a trained lawyer & #xff0c; works on block chains and related regulations & #xff0c; he also published the book Block Chains and the Rule of Law.

OpenLaw团队开始试验各种用例，如实时传输税收。最终他们决定最佳应用是帮助新兴的DAO生态系统建立符合美国证券法的法律结构。

The OpenLaw team started testing examples & #xff0c; for example, real-time tax transfers. Eventually, they decided that the best application would be to help the emerging DAO ecosystem build legal structures consistent with US securities law.

这一点十分重要，因为2016年5月成立的第一个DAO，显然失败了。其失败不仅是因为那次著名的黑客攻击最初造成的近7000万美元的损失，而且是因为美国证券交易委员会裁决指出：第一个DAO及其投资者违反了美国证券交易委员会的相关法律。因此，后来在相同模式下运作的DAO将在极其不确定的监管下运作。

This is important xff0c; because the first DAO，, established in May 2016, clearly failed. The failure was not only due to the initial loss of nearly $70 million xff0c caused by the famous hacker attack; but also because the US Securities and Exchange Commission ruled that xff1a; the first DAO and its investors violated the relevant law of the US Securities and Exchange Commission.

注：2021年9月，Open Law正式更名为Tribute labs，这个组织的明确目的是帮助DAO在美国合法运作。

Note xff1a; September 2021 xff0c; Open Law was officially renamed Tribute Labs， the organization was explicitly designed to help DAO operate legally in the United States.

?LAO

为了更好地了解DAO需要的精确产品，他们在创设DAO时，开始“吃自己的狗粮”（尽量多用自己开发的软件）。第一个此类重要组织是LAO。

In order to better understand the precise products that DAO needs xff0c; when they created DAO xff0c; start eating their own dog food xff08; use as much software as possible xff09; the first such important organization is LAO.

LAO是“有限责任自治组织”的缩写，成立于2020年4月，是一个有限责任实体(遵守证券法)。人们可以ETH来购买“LAO Units”并成为其中一员。汇集的资金将用于投资区块链相关项目，以换取通证化股票或功能令牌。所有的管理和执行(如投票、出资、资金转移等)都通过智能合约进行，该项目筹集了500万美元的资金。

LAO is an Autonomous Organization with Limited Liability (ASO) acronym xff0c; established in April 2020 xff0c; a limited liability entity (compliance with the Securities Act). One can buy LAO Units and become a member of the ETH. The pooled funds will be used for projects related to the investment block chain xff0c; in exchange for a trancated stock or functional token. All management and execution (e.g. voting, financing, transfer of funds, etc.) are carried out through smart contracts xff0c; the project raised $5 million in funds.

LAO在Superrare平台投资的第二个项目是如今众所周知的数字艺术和非同质化代币（NFTs）市场。很快，成员们开始探讨LAO是否应该只在NFT空间的项目、平台或基础设施层面投资，还是也应该购买个别艺术品？他们决定两者并行，并推出了一个专用于NFT市场的新投资工具，名为Flamingo DAO。

The second project where LAO invests in the Superrare platform is the now well-known digital art and non-homogenous token & #xff08; NFTs） market. Soon & #xff0c; members begin to explore whether LAO should invest only in NFT space projects, platforms or infrastructure & #xff0c; whether individual art xff1f should also be purchased; they decide to parallel the two xff0c; and they launch a new investment tool dedicated to the NFT market xff0c; named Flamingo DAO.

LAO已成为DAO孵化器，并开始催生其他在特定领域进行重点投资的DAO。截至目前，LAO已推出6个不同的DAO，在以太坊的投入资本总额为2亿美元。另外两个DAO也即将面世。

LAO has become DAO Incubator & #xff0c; and has started to generate other DAOs with priority investments in specific areas. To date & #xff0c; LAO has launched six different DAOs & #xff0cs; total capital for investment in Etheria is $200 million. Two other DAOs are on the way.

1.FlamingoDAO

2.Neptune(DAO?DeFi)

3.Neon(DAO?Metaverse).

4.RedDAO(digital fashion)

5.ReadyPlayerDAO(gaming)

4.Museo?NFT-(native museum,art collection)

?FlamingoDAO

FlamingoDAO成立于2020年10月，资金来源是通过出售“FlamingoUnits”实现。鉴于有着与LAO类似的结构，FlamingoDAO 筹集了大约6000 ETH，（相当于当时的600万美元)。

FlamingoDAO was established in October 2020 & #xff0c; the source of funding is through the sale of “FlamingoUnits.” Given the structure similar to LAO & #xff0c; FlamingoDAO raised about 6,000 ETH& #xff0c; xff08; equivalent to $6 million at the time.

2021年2月，Flamingo DAO以75万美元购买了一个加密Alien Punk。

February 2021 xff0c; Flamingo DAO purchased an encrypted Alien Punk for $750,000.

?关键人物:

? Key person:

AaronWright是在2007年将公司出售给Wikia的律师、学者、技术企业家。他在以太坊的创立中扮演了一个小角色。他有关于区块链和法律如何交叉的研究最终出版成书，该书记录了导致Open Law成立的初衷。

Aaron Wright was a lawyer, scholar, and technocrat who sold the company to Wikia in 2007. He played a small role in the creation of Ether. He had a study on how the block chain and the law intersected and eventually published a book xff0c; the book documents what led to Open Law’s founding.

Priyanka Desai是一位资深律师，他在2017年加入 Aaron的OpenLaw项目，目前担任运营副总裁，同时是Flamingo的杰出成员。

Priyanka Desai is a senior lawyer & #xff0c; he joined OpenLaw Project & #xff0c in Aaron in 2017; is currently Vice-President of Operations & #xff0c; and is an outstanding member of Flamingo.

机制

mechanism

?会员资格

? Membership

由于规则，Flamingo的会员资格仅限于美国认可的投资者，上限为100。

Because of the rules xff0c; membership of Flamingo is limited to United States-accredited investors xff0c; the ceiling is 100.

最初，会员以60 ETH的价格购买100，000块的“Flamingo Units”，代表1%的投票权和比例权利。成员能拥有的最大份额为9%。重要的是，这不是代币，除非多数成员另有约定，否则不可交易或转让。

Initially xff0c; Members purchased 100xff0c for 60 ETH; 2,000 “Flamingo Units”， representing 1% voting rights and proportional rights. Members have a maximum share of 9%. What matters is xff0c; this is not a token xff0c; cannot be traded or transferred unless most members agree otherwise xff0c;

现有会员可决定在有限时间内何时或者是否开设新会员资格。Aaron在“This week in startups”节目中称目前新成员的成本为3，000ETH。新成员通过分摊现有股东的股权加入。传统的投资公司中，新成员只能从未来的投资中获益，而Flamingo DAO的新成员可以从Flamingo整个运营周期的所有投资中获得收益。

Current members can decide when or whether to open a new membership for a limited period of time. Aaron, in “This weekk in startups” shows that the cost of the current new member is 3， 000ETH. New members join by sharing the shareholdings of existing shareholders. xff0c in traditional investment companies; new members can only benefit from future investments xff0c; and new members of Flamingo DAO can benefit from all of Flamingo's investments throughout the business cycle.

有很多杰出的申请人想要加入Flamingo DAO，团队通过仔细评估他们在NFT领域的专业知识而决定其是否拥有资格。

There are many outstanding applicants who want to join Flamingo DAO， the team determines their qualifications by carefully assessing their expertise in the NFT field.

?

?投资过程

? Investment process > /strong

该公司每两周进行一次电话交流，讨论潜在的新投资和趋势走向。

The company has a biweekly telephone exchange xff0c; potential new investments and trends are discussed.

为了保护隐私，防止抢先运行，会员们定期进行Moloch- style投票，讨论他们是否应该调离出一部分的Flamingo资产（约20%）去购买新资产。

To protect privacy & #xff0c; to prevent pre-run & #xff0c; to hold regular Mooch-style voting & #xff0c; to discuss whether they should remove some of the Flamingo assets & #xff08; about 20% xff09; to buy new assets.

现有成员通过名为“The dApp”的门户网站提名项目或进行NFT供资。提名后，成员们将投票决定是否支持该提案。

Members will vote whether or not to support the proposal.

目前，会员用两种方式进行资产流动活动：按比例给会员分配资金，或创造代表收益利息的可交易代币。

Currently xff0c; members carry out asset flow activities in two ways xff1a; proportionately allocate funds to members xff0c; or generate tradable tokens representing interest on earnings.

如果一个成员要想流转资金，只需在其他成员批准后，出售自己在Flamingo DAO中的部分股份给另一个成员；如果多个成员同时都想周转资产，大多数成员将决定如何实现上述流动性。

If a member wants to transfer funds xff0c; only xff0c after approval by the other member; sells part of his or her share in Flamingo DAO to another member xff1b; if several members want working capital xff0c at the same time; most members will decide how to achieve the above-mentioned liquidity.

?投票制度

? Voting system

基于区块链的智能合约为投票提供了便利，投票结果会被记录到以太坊区块链。

Smart contracts based on block chains facilitate voting #xff0c; the results are recorded in the Etherkom block chain.

投票权按比例分配。决策基于共识，没有法定人数的要求，也就是说，成员无需投票，且评估提案结果排除最低票数。

Voting rights are proportional. Decision-making is based on consensus xff0c; no quorum requirement xff0c; xff0c; members do not need to vote xff0c; and the assessment of the proposal excludes the lowest number of votes.

对于特定问题，可以将投票权委托给其他成员，授权投票不会影响成员的收益。

For specific issues xff0c; voting rights may be delegated to other members xff0c; an authorized vote does not affect the member's earnings.

除了对于是否购买进行投票外，会员还可以就Flamingo DAO的结构和形式或其他战略决策（如何处理流动性、推出FlamingoDAO代币等）提交提案和投票。

In addition to voting for purchases, xff0c; Members may also make decisions on the structure and form of Flamingo DAO or other strategic decisions xff08; how to deal with liquidity, introduction of Flamingo DAO tokens, etc. xff09; submit proposals and vote.

?Rage Quitting

会员在任何时候都可以选择撤回资金，只要愿意，他们可以随时撤离Flamingo ——此过程被称为“rage quitting”，能够保证成员在加入DAO时有安全感，且能够心安理得地投票。

Members can at any time choose to withdraw their funds xff0c; if they so wish xff0c; they can withdraw from Flamingo at any time — a process known as “rage quitting” xff0c; they can guarantee members a sense of security when joining DAO xff0c; and they can vote in good faith.

在对每项提案投票后，如有成员不同意结果，他们可以选择“rage quitting”。退出的成员将从未配置的资本中分股，他们也有权在法律或投资条款允许范围内在成员提取资本前，从Flamingo DAO进行的投资中获得收益。文件中并未清晰说明如何以及何时将这些收益转移给退出的成员。

After voting on each proposal, xff0c; if a member does not agree with the result xff0c; they can choose “rage quickting”. The withdrawing member will have a share of the capital that has never been allocated xff0c; they will also have the right, to the extent permitted by law or investment terms, to draw capital from the member xff0c; and to gain from the investment carried out by Flamingo DAO. The document does not clearly state how and when these gains will be transferred to the withdrawing member.

注意：创始人Aaron Wright指出，TheFlamingo DAO governancedocument没有提到退出成员获得投资收益的权利。以上观点来自theLAO governancedocument,该文件与Flamingo DAO的文件相同。

Note & #xff1a; Founder Aaron Wright notes & #xff0c; The Flamingo DAO Governmentdocument does not mention the right of the withdrawing member to receive the return on investment. This view comes from the LAO Governmentdocument, which is the same document as the Flamingo DAO.

?其他杂项：

? Other miscellaneous 1a;

所有行政和运营活动，如建立法律架构、维护软件（在决策和治理发生时称为dApp）和智能合同、社区支持、税务和规则等。

All administrative and operational activities & #xff0c; e.g., establishing legal structures, maintaining software & #xff08; known as dapp） at the time of decision-making and governance; and smart contracts, community support, taxation and rules.

商业模式和秘诀

Business Models and Secrets

?活动

? Event >/strang >

1.购买NFT，并在相关情况下，将其转换为细化的作品，包括著名的《AlienCryptoPunk》，价格为75万美元。

1. Purchase of NFT， and, where relevant, xff0c; conversion to refined xff0c; including the famous AlienCryptoPunk xff0c; price of $750,000.

2.投资核心NFT基础设施和项目。根据crunchbase数据，Flamingo DAO已经投资了至少10个这样的项目：例如参与了OpenSea的2300万美元的融资以及nameless的1500万美元融资（nameless是一个用于发行、测试和销售NFT的API软件开发商）。

Investments in core NFT infrastructure and projects. Based on crunchbase data & #xff0c; Flamingo DAO has invested at least 10 such projects & #xff1a; for example, participation in OpenSea financing of $23 million and Nameless financing of $15 million & #xff08; nameless is an API software developer for the distribution, testing and sale of NFT & #xff09;

3.委托Joy和Hackato等艺术家创作新作品并投放新的NFT。

3. To commission artists such as Joy and Hackato to create new works and launch new NFTs.

4.通过各自的社区或社区代币投资数字艺术家。

4. Investing in digital artists through their respective communities or community tokens.

5.对获得的作品进行整理，创建数字博物馆和展示画廊。

5. Collapse the acquired works & #xff0c; create digital museums and exhibition galleries.

6.寻找方法来发展和进一步货币化现有资产。例如，在获得《Alien CryptoPunk》的版权后，他们创建了一个社交媒体账户，赋予它个性，把它变成一个3D的存在，为它创建zoom skin，并在元宇宙中让其显现出来，甚至用它启动了一个DAO。

6. Find ways to develop and further monetize existing assets. For example, xff0c; xff0c after obtaining the copyright of Alien CryptoPunk; they create a social media account xff0c; give it personality xff0c; transform it into a 3D existence xff0c; create a Zoom skinxff0c for it; make it visible in the meta-cosmos xff0c; even activate a DAO with it.

这种趋势可能会带来一个明显的终局，那就是虚拟偶像（如虚拟流行明星Miquela）

This trend may lead to a clear end result #xff0c; a virtual idol #xff08; like a virtual pop star, Miquela）

?组合

? Combining

FlamingoDAO起初有600万美元的eth。随着时间的推移，他们已经获得了1300+个NFT，包括数百个cryptopunks（Flamingo DAO是CryptoPunks的第三大持有者），五个罕见的auto-glyphs，数字艺术家的NFT和OpenSea的股份。

FlamingoDAO initially had $6 million in eth. Over time xff0c; they have already acquired 130043; NFTxff0c; including hundreds of cryptopunks（ Flamingo DAO is the third-largest holder of CryptoPunks xff09; xff0c; five rare auto-glyphs， and the shares of digital artists NFT and OpenSea.

虽然受波动的影响，总价值不容易被估算，但Flamingo DAO目前持有其的股份的估值约为1亿美元。该数据源是Aaron在2021年11月8日的Boardroom Governance 播客的54分钟处有所提及。

Although affected by fluctuations xff0c; the total value is not easy to estimate xff0c; but Flamingo DAO currently holds an estimated $100 million. The source of this data is Aaron’s 54-minute reference to the Boardroom Governance podcast on 8 November 2021.

?经济

? Economy >/strange

1.收入来源：

1. Sources of incomexff1a;

1）销售数字资产和投资：包括以前获得的资产以及与艺术家合作投放的新NFT。

1xff09; sales of digital assets and investmentsxff1a; including previously acquired assets and new NFTs delivered in collaboration with artists.

2）向新成员出售代币。

2xff09; sales of tokens to new members.

Flamingo目前大约有70名成员，根据该组织的原始章程，数量可以上升到一百名成员。正如前面在机制的部分所指出的，现有成员决定何时以及是否开放新成员加入与其加入的价格。目前，10万个Flamingo Units的价格已从启动时的60ETH上升到3000ETH，以美元为单位计算，增长了2000倍。

Flamingo currently has about 70 members xff0c; the number can rise to 100 according to the original constitution of the organization xff0c. As noted earlier in the Mechanism xff0c; the current membership decides when and whether to open up new members to join it. xff0c; the current price of 100,000 Flamingo Units has risen from 60 ETH at start-up to 3000 ETHxff0c; xff0c; a 2000-fold increase in United States dollars.

由于这是一个极其新兴的领域，预计会有更多的收入机会出现，可能包括数字博物馆和画廊展览的货币化，围绕现有的NFT创建一个社区或DAO等等。

As this is an extremely new area xff0c; more income opportunities are expected xff0c; it may include monetization of digital museums and gallery exhibits xff0c; creation of a community or DAO around existing NFTs, etc.

2.成本结构

2. Cost structure

1）给服务提供商OpenLaw（现在是Tribute Labs）的费用以进行法律构架。通过DAO工具来处理行政和合规问题以及社区支持等。初始费用为认缴资本年费的2%，5年后降至0.7%。（来源- This week in Startups -LAO的认缴资本，以及对2%年费的解释）。

1xff09; for service provider OpenLaw（ now Tribute Labs） fees for legal framework. Administrative and compliance issues and community support are addressed through DAO tools. Initial costs are 2% of annual capital contribution xff0c; decrease to 0.7% after five years. xff08; source - This Week in Startups-LAO's contribution capital xff0c; and explanation of 2% annual fee xff09;

2）Open Law不收取carry，由成员自己做决定。Flamingo DAO没有投资权。

Flamingo DAO has no right to invest.

3）除上述收费项外，服务提供商将有权获得Flamingo DAO收购的任何NFT总收益的2%。如服务提供商将Flamingo收购的NFT所有权利益分化，那么就是这些NFT的所有权利益的2%。

3） xff0c; in addition to the above charges; the service provider will be entitled to 2% of any NFT proceeds acquired by Flamingo DAO. If the service provider divides the NFT ownership interest acquired by Flamingo xff0c; that is, 2% of the ownership interest of these NFTs.

4）市场佣金，如OpenSea的2.5%。

4xff09; market commissionxff0c; e.g. 2.5% of OpenSea.

?竞争优势

? A competitive advantage

注意事项：Flamingo DAO和常见DAO的运营历史非常有限，而且是在加密货币牛市中，现在下结论可能为时过早。

Note #xff1a; the operating history of Flamingo DAO and the common DAO is very limited xff0c; it is also in the crypto-currency cow market xff0c; it may be premature to draw conclusions.

1. 虽然竞争的载体尚未明确，但Flamingo DAO有可能一方面与其他DAO竞争投资机会，另一方面与风险投资公司和传统投资者竞争。识别新交易和机会的能力：在一个高度动态、分散的行业中，参与的个人分布在全球各地，侦察地形和识别交易远比在中心化的世界更具挑战，例如投资硅谷初创企业。

1. Although the vehicle of competition is not yet clear xff0c; but Flamingo DAO is likely to compete with other DAOs on the one hand for investment opportunities xff0c; and venture capital companies and traditional investors on the other. Capacity to identify new transactions and opportunities xff1a; xff0c in a highly dynamic and dispersed industry; participation of individuals worldwide xff0c; reconnaissance of terrain and identification of transactions is much more challenging than in a central world xff0c; for example, investing in start-ups in Silicon Valley.

1)FlamingoDAO与VC的对比。

1) FlamingoDAO vs. VC.

FlamingoDAO有“集体智能”和扁平化组织结构，在该结构中，有一个包含70个来自不同背景的数字资产专家网，与传统投资机构相比，更适合在快速发展的生态系统中识别机会。

FlamingoDAO has a “collective intelligence” and flattening organizational structure xff0c; in this structure xff0c; a network of 70 digital asset experts from different backgrounds xff0c; xff0c compared to traditional investment institutions; and is better suited to identify opportunities in rapidly developing ecosystems.

2)FlamingoDAO与其他DAO相比。

2) FlamingoDAO compared to other DAOs.

a. Flamingo拥有高质量的成员基础，成员们长期接触区块链和NFT生态系统，这使它与大多数DAO不同。尽管Pleasr DAO等竞争对手也策划了一个高质量的成员基础。高质量的策展人网络进一步加强了这一点，他们协助Flamingo来确定发展趋势和新兴机会，但不做任何购买决定。

A. Flamingo has a high-quality membership base & #xff0c; members have a long-term exposure to block chains and NFT ecosystems & #xff0c; this makes it different from most DAOs. Although competitors such as Pleasr DAO have devised a high-quality membership base. A high-quality network of advocates further reinforces this & #xff0c; they assist Flamingo in identifying development trends and emerging opportunities & #xff0c; but do not make any purchase decisions.

b. 与许多竞争对手不同，FlamingoDAO是一个由70多人组成的相对紧密的骑兵团，参与率可能要更高。Aaron Wright（在本播客中）引用了“60%”作为LAO网络中所有DAO的平均参与率。然而，这个数据比一些同行（如Fingerprints DAO有250名成员）小得多，后者可能更善于发现长尾项目。当然，时间会告诉我们更多关于DAO的规模和成员参与率之间可能存在的权衡，以及如何通过治理来相互抵消。

b. Unlike many competitors xff0c; FlamingoDO is a relatively close cavalry of more than 70 people xff0c; participation may be higher. Aaron Wright（ xff09 in this podcast; quotes “60%” as the average participation rate of all DAOs in LAO networks. However xff0c; this data compares with some peers xff08; for example, Federationprints DAO has 250 members xff09; much smaller xff0c; the latter may be better than discovering long-tail projects. Of course xff0c; time will tell us more about the possible trade-offs between the size of DAO and membership participation rates xff0c; and how to offset each other through governance.

c. 商誉、声誉和社区：新生的NFT和加密货币行业是高度理想化的，是由目的驱动的，好的声誉和社区将会引导有价值的交易流的产生。

c. goodwill, reputation and community & #xff1a; the nascent NFT and encrypted currency industries are highly ideal & #xff0c; are purpose-driven & #xff0c; good reputations and communities will guide valuable trade flows.

3)与VC的对比。

3) vs. VC.

这是另一个领域，DAO凭借所有成员的综合网络和与生态系统相匹配的精神，可能比传统投资者同行更有优势。

This is another area & #xff0c; DAO may be more advantageous than traditional investor peers, based on an integrated network of all members and a spirit of compatibility with ecosystems & #xff0c.

4)与其他DAO相比。

4) Compared to other DAOs.

Flamingo是最突出、最早且最大的DAO。它被称为NFTs中的Medici，是《财富》杂志列出的NFT中最具影响力的50人名单中唯一的DAO。

Flamingo is the most prominent, first and largest DAO. It's called Medici， in the NFTs; it's the only DAO of the 50 most influential NFTs listed in The Wealth magazine.

2.速度和灵活性

2. Speed and flexibility

1)DAO的结构对速度和灵活性进行了优化。最近，LAO推出了一个名为Neptune DAO的新DAO，该DAO花了40分钟就完成了2000万美元的交易，而VC则需要3到6个月。

1) DAO's structure optimizes speed and flexibility. xff0c; LAO recently introduced a new DAOxff0c called Neptune DAO; DAO took 40 minutes to complete the $20 million transaction xff0c; VC takes three to six months.

2)VC在他们可以进行的一系列活动中受到限制，而DAO可以以有趣的方式增加他们所持股份的价值，并找到额外的方法来实现货币化。例如，DAO可以为他们最受欢迎的NFT启动新的DAO，在数字博物馆中实现其资产的货币化等。

2) VC is restricted in a range of activities they can carry out xff0c; DAO can add value to their shares in an interesting way xff0c; and find additional ways to monetize. e.g. xff0c; DAO can start a new DAOxff0c for their most popular NFT; monetize its assets in digital museums, etc.

3.合规的外衣：

3. Compliance jacketsxff1a;

FlamingoDAO由成员指导，成员有权投票和进行投资，将任何委托、代理冲突都降到最低。

FlamingoDAO is directed by members xff0c; members have the right to vote and invest xff0c; and any commissioning, proxy conflict is minimized.

4．首要原则：

4xff0e; overarching principle <#xff1a;

NFTs是一个新兴的投资领域，行政管理机构还不知道该如何对其进行监管。Flamingo DAO，由于其与Tribute Labs的关系，作为一个“包装过的DAO”，其在结构上一直很保守，以满足监管的合规性。它的律师创始人Aaron Wright，也使其最适合在不断变化的监管环境中航行。

NFTs are an emerging investment area & #xff0c; the administration does not yet know how to regulate them. Flamingo DAO， because of its relationship with Tribute Labs & #xff0c; as a “packaged DAO” & #xff0c; it has been structurally conservative #xff0c; it meets regulatory compliance. Its lawyer founder Aaron Wright， and it is best suited to sail in a changing regulatory environment.

竞争地位

/strang'

?行业外形势

? Outside the industry

1.NFTs是在过去一年中实现市值显著增长的新兴行业，2021年第三季度达到107亿美元。

NFTs are emerging sectors that have achieved significant market value growth over the past year xff0c; they reached $10.7 billion in the third quarter of 2021.

2.大众对于NFTs逐渐有了更多浓厚的兴趣——名人、投资者、个人和其他DAOs(Democratic Autonomous Organizations)正聚在一起竞标新的艺术作品和项目。一些身份显赫的“收藏家”和持股DAOs的人（包括Pleasr DAO和Fingerprints DAO）亦在其中。此外，DAOs中的成员经常会共同购买一个单一的NFT，如Constitution DAO，其购买的部分商品可永久使用。

There is a growing public interest in NFTs – celebrities, investors, individuals and other DAOs – who are gathering together to bid for new art works and projects. Some of the well-known “collectors” and stockholders of DAOs & #xff08; including Pleasr DAO and Fingerprints DAO） and also #xff0c; members of DAOs will often co-purchase a single NFT， for example, Constitution DAO #xff0c; some of the goods they purchase can be permanently used.

3.进入该领域的门槛非常低，且由于使DAOs起步的相关工具和基础设施得到完善与建立，个人涉足该领域的门槛只会变得越来越低，与此同时，以怀俄明州法案为例，我们制定了诸如此类的法律，它围绕DAOs消除了一些监管层面的不确定性。

The threshold for entry into this area is very low xff0c; and due to the improvement of tools and infrastructure to start DAOs and the establishment of xff0c; the threshold for personal involvement in this field will only become increasingly low xff0c; at the same time xff0c; with the Wyoming Act as an example xff0c; we have enacted such laws xff0c; it removes some regulatory uncertainties around DAOs.

?行业内地位

? Intra-industry status

1.对于NFTs而言，Flamingo是历史最悠久、规模最大的用例，即便如此，成立也只有一年多左右的时间，说明这个行业仍处于新生阶段。

1. For NFTs & #xff0c; Flamingo is the oldest and largest case & #xff0c; even so & #xff0c; only about a year after its establishment & #xff0c; indicating that the industry is still in its infancy.

2.面临的威胁：

2. Threats <#xff1a;

1)NFT市场崩溃:

1) NFT Market Collapse:

即使是持乐观态度的投资者/收藏家也不得不承认，当下NFT可能正处于投机狂热的阵痛之中——很多NFT 都将变得毫无价值。

Even optimistic investors/collectors have to admit #xff0c; now NFTs may be in the throes of speculation — many NFTs will become worthless.

2)以太坊价格崩盘:

2) The collapse at Taiyeon's price:

Flamingo的所有储备资产都保存在以太坊中，ETH价格下跌可能会限制他们本能够获得的资源条件。

All of Flamingo’s reserve assets are kept in Etheria & #xff0c; the fall in ETH prices may limit their resource availability.

3)DAO在成立和治理方面的创新:

3) DAO innovation in establishment and governance:

a. 为了符合监管方面的要求，Flamingo DAO 只需要在美国获得认可的成员即可，且人员方面的最大数量限制为99。这可能不利于它与拥有更广泛成员的其他全球化团队竞争（尽管为了达到投资 DAO 的最佳效果，可能会有一个Dunbar的数量限制）。

In order to meet regulatory requirements & #xff0c; Flamingo DAO only needs an accredited member in the United States & #xff0c; and the maximum number of people is limited to 99. This may be detrimental to its competition with other global teams with wider membership & #xff08; although in order to achieve the best impact of the DAO & #xff0c; there may be a quantitative limitation of Dunbar & #xff09;

b. DAO受入场价格高和会员数量有限的因素影响具有排他性，这在探索具有长尾特征的投资市场时是不利的。

b. DAO's exclusionary & #xff0c due to high entry prices and limited membership; this is disadvantageous when exploring investment markets with long tail characteristics.

c. Flamingo DAO 通过服务提供商 OpenLaw 为其后端提供支持，而OpenLaw 由 Flamingo DAO 成员 Aaron 和 PriyaDesai共同运营。基于市场的快速演变可能会导致更好的工具出现，同时考虑到Open Law的经济利益，Flamingo DAO 理论上可能不愿意部署到新工具上。

c. Flamingo DAO provides backend support through the service provider OpenLaw & #xff0c; OpenLaw is run by Flamingo DAO members Aaron and PriyaDesai. Rapid market-based evolution may lead to better tools & #xff0c; taking into account Open Law’s economic benefits & #xff0c; Flamingo DAO may theoretically be reluctant to deploy to new tools.

4)高层次的玩家进入:

4) High-level players enter:

就目前而言，NFT行业规模太小，资本无法为其提供有力保护。但如果它在未来发展成为一个更大的行业，情况可能会有所改变。基于上述情形，Flamingo 和其他 DAOs 可能也会在未来面临来自拥有更大、更深资本池的参与者的激烈竞争。

For the time being, xff0c; the NFT industry is too small xff0c; capital cannot provide it with strong protection. If it develops into a larger industry in the future xff0c; the situation may change. Based on the above, xff0c; Flamingo and other DAOs may also face fierce competition in the future from players with larger and deeper pools of capital.

资料来源：

Source xff1a;

?Website: Flamingo DAO LAO?

?Launch Announcements: Flamingo DAO LAO?

?Twitter: Flamingo DAO LAO?

?Flamingo DAO's NFT Gallery

?Modern Finance episode featuring FlamingoDAO founders

? ‘This Week in Startups’ episode featuringAaron Wright

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