Everything You Need to Know About Working at a DAO
Are you interested in working at a DAO? There are many nuances that you need to navigate.
Web3 and DAO Background
The term Web3 was first used by Gavin Wood, the founder of Ethereum, in 2014. This term refers to a new state of the internet that will be highly decentralized and governed by blockchain technology.
Under Web3, a few big tech oligopolies will no longer run the internet. Instead, small employee-run organizations will have a chance to thrive.
One of the ways that talented technology professionals can thrive in a Web3 economy is by joining decentralized autonomous organizations (DAOs). DAOs are organizations owned by employees, customers, and other key stakeholders. They clearly differ from traditional tech companies owned by institutional investors under the stewardship of multinational corporations.
“There is still an ownership component [in DAOs], but it is significantly more distributed,” says Opolis Founding Steward Joshua Lapidus.
Many workers have misconceptions about the primary benefits of DAOs. Some people associate DAOs with perks like unlimited paid time off (PTO) and working from home. In reality, the compensation structure and additional benefits differ as much between DAOs as any other companies.
DAOs are the future of work but are similar to traditional companies in some ways. The real difference is that DAOs are decentralized and are owned by their employees and major stakeholders.
Finding Work in Web3
There are many advantages of working for a DAO. However, even knowledgeable professionals in the technology industry don’t always know where to find these opportunities.
How to Find Work at a DAO
Fortunately, you will have a good chance of finding a DAO through the channels listed below:
- Twitter. Twitter is the best place to find DAO opportunities. You can start by following leading influencers. The influencers themselves may not have the most insightful messages, but they build a strong audience that may have the connections you need to find work in a DAO. You can drill down through their follower lists and profiles of people who engage with them to find DAOs.
- Gitcoin Grants. You can also pay attention to Gitcoin Grants. Many of these start-ups will be great DAOs looking for employees.
- Conferences. You can also go to web3 conferences to learn more about different DAOs. You’ll be able to connect with many people who can help you on your quest to find a DAO that will be a good fit.
What Professions can Find Work in DAOs?
DAOs need programmers, graphic artists, front-end developers, and other technology professionals. However, they also need lawyers, accountants, and other experts. Larger DAOs are more likely to hire financial professionals since they have more extensive cash flow management needs.
Realities of Working at a DAO
As with any workplace environment, working at a DAO has benefits and drawbacks. The autonomous nature of DAOs encourages independence, fosters creative thinking, and helps with accountability since members have voting power. However, the decentralized nature of DAOs and the lack of formal rules can lead to regulatory challenges, and reliance on cryptocurrencies can cause delays in payments.
You can be paid in cryptocurrencies when working at a DAO. Therefore, you should do your research on digital coins and how to do your accounting accordingly.
DOAs and Employment Benefits
Employment benefits differ between DAOs, as they do with any other organization. For example, many DAOs offer health insurance and other benefits. However, DAO workers usually rely on outside service providers – like Opolis – for benefits, payroll, and healthcare. Opolis is a decentralized employment organization that provides insurance, accounting, and other services to Unemployables.
You can learn more about Opolis benefits packages at Opolis.co.