0:08  
You're listening to social bees radio, where we put to honey in the honey pots. I'm your director, director. And if you ever wanted to know everything and anything about web three crypto or NF T's, you're in the right place. So fasten your seat belt. Get ready, let's get started.

0:36  
So that's going to be the absolute clear cut universal information.

0:43  
That's why I love you.

0:47  
Okay, so Dow is a decentralized autonomous organization, they started to spring forth in early crypto, sometimes as a way to bypass the legal requirements for a security token offering that was looking like a utility token, but really wasn't. That means it's an investment. And you really should be accredited and have your full paperwork done with the SEC. Then there were things like swarm City, one of my co founders and Lolly started swarm city. And that was a way for an entire organization to allow people to just kind of create things like you could literally create a rideshare from your driveway, and you just do hashtags. It was very decentralized, very autonomous. Nowadays, there are a lot of requirements that I highly recommend people adhere to number one, a decentralized autonomous organization that is not legally formed will be treated as a an unregistered or unincorporated partnership. What does that mean? That means everyone in the Dow is liable for everyone else in the Dow. And they go, but we're all anonymous, it doesn't matter. Trust me, I can find you. Really not that hard. And I've been doing those kinds of things for a few decades. So trust me, it's not that you want to make sure that you are legally incorporated the best place and right now the only place to do that is in Wyoming. Wyoming has a Dao LLC. Now, the great thing about a Dao LLC is you have two choices, two choices. One is a member managed LLC, so every member would have to be fully disclosed, they would have to be listed. Those are the members that actually can make choices. Now one of the choices they can make is that we are just going to be the humans that interface with the rest of the world for the Dow and the Dow, you need either algorithmically managed, or member managed algorithm algorithmically manage means depending on how many tokens or NF T's you have, that's how many votes you get. And you and all of the decisions of the Dow are done like that. A throwback, if you look at pivots, or a lot of the other Dows, they have a treasury that Treasury is algorithmic algorithmically managed. So people will put up a proposal I would like to go to XYZ conference, it cost this much. And then the Dow votes and then they get approved and then the tokens are transferred. Or I would like to create this particular particular piece of functionality. This is how much I'm going to charge. These are the milestones, the delivery dates and the payout schedules. And then the Dow votes and then the Treasury is then directed to it automatically through smart contract will then fund those milestones as they're approved. Now, most people today are not doing anything quite that complicated. They're saying or a Dow, if they're smart, they're they are incorporating in Wyoming. And then you have managers of the Dow. But unless you have a smart contract, that algorithm algorithmically manages everything, and you put that contract number in your incorporation papers you are member managed. Why is that good? Because Dows are crazy. And trans mutating an organization that was an organization that had a leadership structure and a way of doing things and a culture in that community. And then saying, Okay, now we're a Dao, y'all have to participate. That is a hard transition, a lot of these NFT projects that go from, from a project to a Dao, the members are like, I don't know what you want me to do. So how do you do? Number one, if you're smart, and you know, it's going to be a Dao started as a doubt in the very beginning, give people an opportunity to participate and give them expectations of what kind of contribution they're

4:37  
so so now that we know some of the things that you're saying, one of the things I can say is the B community, as we've all been asked to do things from day one, so when I came, there was only 48 of us they were like, Hey, can you help you know with marketing and publicity without being like full publicist? You know, like word of mouth, talk to people. What are your friends know? Tell them about this, start asking people, Angela

5:00  
I think that's what it's called.

5:01  
Yep. Is that okay? So? Yeah, when

5:03  
you do those things, okay, you want to create what's called a bounty structure. So not everyone is going to contribute equally, that creates resentment. So if you create a bounty structure, and you say these are the tasks that are required to run this on this organization, and these are the token rewards for each of these tasks, either per task per week, per month, whatever that is, let me tell you discord managers, gold, you need really good discord managers. If you use discord. Hopefully you're using something else, if you want to attract the mainstream population, because Discord is dangerous for civilians. But the whole point about member managed right, create a leadership structure. So I am the co founder of the billionaire zombies club. And we started off just as a project, and then we're transitioning, keyword transitioning to a fold out. So we start we opened the dowel, we have people who are contributing, we have mods, we have a leadership, we created a whole bunch of different committees. They're kind of like jury committees, right? So you have a foreman. Nobody has any more power than anybody else. But the committee actually organizes and runs things like Merchandising, and social and partnerships and live events and street teams and those kinds of things. Right? So what are all of the things that your Dow is going to have to do? break those up, and then figure out what that bounty reward is? Because if you're saying, I need a new website for our Dow, and you have somebody who's really good and makes 10 grand to do that, how are you incentivizing them to do it for the community? Right? Those are the kinds of things you want to think about. You also have to have a me, there are many of me, but you need to me, the me is the person who actually interfaces with the state of Wyoming, files, the taxes, does all the reporting, fills out all the paperwork and signs all the contracts, this is a key piece that people don't think about. If you are not incorporated, that means you don't have an EIN, that means you don't have a bank account, that means you're you're fully crypto, but that doesn't work as well. When you're trying to sell T shirts online, you have to have some way to interface with stripe and take credit cards, you're going to need some kind of a bank account because a lot of these conferences if you guys are going to sponsor one, maybe a sponsorship will take crypto but a lot of times they want you to pay cash doesn't have to be stripe, no can be any merchant account you want anything you want. It just it just means you have to have an EIN and a legal entity and a human assigned to sign everything. You have to have a human now you as the human, whoever the human is, who decides realize your name and social security number is going to be intimately and almost inextricably tied to this dowel forever. So you're not going anywhere. So make sure you're it. Okay. The other thing about Dows? Is their leadership transitions all the time, right? People come together, they're usually people who don't know each other. Whether or not they've already solidified a good working relationship or not the number one thing that every single Dow needs. Number one, you need a constitution. How is the Dow going to be run? What are you building? Why are you building it? Look at the Constitution now we're gonna buy the Constitution. That was freaking awesome. That was a very simple doubt. Right? Everybody, everybody who contributed money was a part of that doubt. And, you know, I don't know if they're gonna give the money back. I honestly, I've been moving. So I haven't followed up. But what is the Dow going to do? Right? What's the roadmap milestones that should all be in the white paper? Everybody should be in agreement. Then the other thing is a Dao leadership agreement. Okay. What is it that you're if you're going to take on a leadership role when a Dao, what are you doing? What are you committing to do? What is the compensation, right? Just like a business, even though it's a doubt, just like a business, because you're gonna have people that are like, Okay, once we have money, we're gonna do XYZ, then the money comes in, then X, Y, Z doesn't get done. Right. And then people get salty, and they leave. Yes, yet another thing for the Dow, whoever that person is, who signs on the dotted line, that is the human that is tied to it. That is the person that needs to control the corporate Dow email address. Now, everything the Dow vies does sets up should go to that email or you have a social corporate agenda, but you need to have a.com or.io And you know, all those emails, right. The key reason for this is all the socials regaining access to socials, when you have people who go rogue is very difficult,

9:39  
right? I have thought about that. Because so I run a nonprofit as well. And that's what I've been. I've now been it's been several years now and I see what I have in place that was great. And what I don't have in place that is hurtful. So we're doing some reconfiguring right now as well.

9:55  
So you use a platform you can pay Hello, Wolfie is one of my favorites now. No. And that is like for the big, big big enterprise account, which is perfect for dials. It's like 250 a year. And Cloud campaign is probably the very, very best, but that's a couple 100 a month. And then you can try a free HootSuite, but you're not gonna get team on that. So then you're still gonna end up paying like $15 a month. That's why like, Hello wolfy It's fabulous. And it also has the ability if you're going after the consumer market, you can do Alexa stuff and that's really hot and sexy and we can go over that later. But for Dows we have a WordPress website. We have token gated access to the community and the committee's so it's basically the front end is an advertising platform and the back end is everything else. We have a vibrant discord, I don't go there very often. That's where it started, get moving people over to another platform, this is the this is the caution without where you find them is where they stay. Now the problem with having everything on Discord is you're going to eliminate about 95% of your love. So here's the basic rules on Discord number one, lock it down. Number two, tell everyone and repeatedly for all the new people, turn off your DMS we will never DM you, we will never send you this we will never send you that the whole point. And this is I even i And Og who's been in Bitcoin since 2009. Blockchain since 2012. Even I got scammed on a spooky boys scam site. It was like a whitelist. It was late. I was tired. I remember some people who spoke to you by spinning advice. And not remembering of course that it sold out two weeks ago, or two weeks prior until I hit Buy on the mint page that looked exactly like the mint page. And it was like, oh my god, gas is so cheap. Oh, I could buy. I could buy another one. I could buy for more. And then as soon as I hit go, I went. Oh, fuck. And I realized I was just sending Aetherium to a spam to scam wallet that then washed it. I found that $65 million later. I mean, I'm not the only one. They only got 1800 of my money. But you know, crazy. Yeah. So. So Discord is very, very dangerous to civilians. Because it's like my girlfriend's inbox. I just looked at it. She got very upset because she thought if she didn't go do this thing they were having her do she wasn't gonna get her $50,000 and her brother had already got his $50,000 grant. And I'm like, Yeah, how did that grant come in? Yeah, it's the scam where they get you the grant, then you pay them 10% of the grant. And then the grant bounces two weeks later, and then you end you end up owing all the money. And I prevented her from doing that. But she was really upset. But it's the same thing in crypto people can't tell the difference because they don't know how to do the due diligence as a Dao. Remember, if you're an unincorporated, you are literally a partnership, everyone is liable for everyone else. That means if you let a scammer into your midst, you're all liable. So you have to be really, really careful. I like the Dow's where everyone is fully AML and KYC. One of my very favorite Dows is actually crypto monks Mo and kz crypto monks. That is an opportunistic doubt. So basically, they are building some tools. But they're also an alpha group and a whale group. And they go in, and they like find killer projects, and they make them even more awesome. So you,

13:33  
I will interrupt to say I'm excited about that. Because so that's called an opportunistic

13:37  
Dow. Right. And to participate, you actually have to, you know, you know, own an NF t. So this is the other thing with the Dow that you guys have to balance when you're deciding and this all goes into the Constitution and the structure and everything else. And then you also need to have a committee that's on like feature proposals. Because the last thing you want to do is try and have a conversation with 10,000 people, or I don't know how big yours is, but, you know, it's it's hard. So, so feature proposals, it's like, we would like it to do this, instead of this. It's got to make it through committee first, and then it goes to a vote. You need to to look at it almost like we have Congress, right. And then you also have the leadership team that is actually the working team that is working on it. And they're like, the the team. There's the Dow, and then there's the team,

14:28  
right as the team gets selected another dose.

14:32  
The team are usually the ones who actually started the project. And then, you know, like, we have people who have come up through the ranks like Johnny K, who's our lead mod. He has been just frickin baller and working his butt off and billionaire zombies club. And he's going out and doing partnership stuff and things like that. Organizing all you know, heading up the rest of the mods and organizing everything and interfacing with the dev team and Yeah, he's really taken a very strong leadership role, much like in the real world, it would be a CEO. Hi.

15:07  
Hi, question. What are your numbers like, mean? How many people are involved in your Dow?

15:14  
Okay, so this is the fun part. When it comes to NF T's in crypto, right civilians and people who don't know what they're looking at, look at floor price, you don't control for floor price, your community controls for floor price. And you're also going to be targeted when you're a successful project by bots that are literally going to Mass offer everybody, everybody who's got anything listed, and they're gonna lowball them. So say your floor is one eath. Right? They're gonna offer everybody happening. Now, you got to understand the people who minted for like 50 bucks, a half and eath is like $1,500, they might take it instead of hold it. Right? Well, then your floor goes down to happening. Right your last sale. And then they'll turn around and they'll and the bot, whoever bought it will turn around and listed for point seven. Now their floor is point seven, right? Instead of one, eight. And it just keeps going down, down, down, down down. The better statistics to look at are how many people are holding? How many? How many NF T's are actually for sale, right? Like our floor was so thin at one point, it was like, there were 23 Zombies below neath or point one below whatever our I can't remember, um, decaffeinated and moving. But there was only like, 23, the floor was really, really thin. So you got to look at how thin is the floor, right? And then how many people are holding the majority, I think the last count, it was like 89% of our holders are holding. They're not listed. They're not selling they're holding, because they know what's coming. Because we've got land coming. We have a we have a game coming. We have like so much stuff on our roadmap that's popping this year. They're like, why would I sell? Right? Yeah, so. So that's the whole thing. So you got to look at that. So we have, I want to say, Gosh, my statistics are probably a little old. But I think it's like 3600 wallet holders 89% are holding our floor was really really thin. I think at one point, we only had like 200 items for sale. So it's you get those statistics that you want to look at. And and the problem also with Discord is and we we faced this attack ourselves. So I'm telling you from personal experience, we had 26 I call them my my unsupervised frat house, we had 26,000 unsupervised frat boys, I was like the only girl I love these boys, they're awesome. And I didn't realize when I first joined the project, that we had a significant number of people in our community that were under 18. Really a very significant under 21. And this was like the first time they minted all that. So you know, you really, if you're coming into a community, you know, knowing who's in the community and that like the the democratic app is very helpful to figure out what you can do with them. We didn't know until we did the king men and we started doing the dowel process and putting people on committees and taking applications. We have so much talent in our holders and our King and our king's Council. It is insanity. I mean, I was like, like that. We could probably take over a small country with just the talent we have in our kings Council. It's it's pretty bitchin, but you don't know, they're just holders, right? You don't know who these people are? your mods will, because they talk to everybody. Right? So your mods are your first line of defense, you need to have a very strong team monitor 24/7 Because we had an issue where we had like, five or six people get salty because they were misbehaving and turning into dictators and doing all this other stuff. And, you know, demotic people, it just it gets nuts, right? Because you got to think about it. It's like, who are the people who are in charge who have the power to push buttons that could actually harm your reputation? Because this is where publicity comes in. Right? You need to know about your reputation. What are people?

19:20  
Yeah. You. So let me

19:23  
wait one more thing. You need an onboarding process. I have an idea that I think it would actually work perfectly for bees. Okay. And I learned this from Edith Yeah. And she was putting on these conferences in San Francisco that were awesome. And she assigned everyone a buddy, right? And I was like, I'm still friends with my buddy. This has been like 15 years. I'm still friends with my buddy, right? So some kind of an onboarding process, right? Where for a week, there aren't, you know, new NFT holders for a week. They're in like an introductory thing. And then you have like tour guides and people come in and what walk them through it and all that other stuff. And then they can graduate to the main thing. But really, what is the first thing people are gonna see and on Discord, it really could be an inappropriate GIF, you never know. So it's harder to manage that process. If you use traditional tools like we do in internet marketing, you can put them through a funnel, and you can age them in and using something like wishlist, like a membership plugin, you can literally every week, increase their access, put out new content, sorry, put out new content for them new training things, you can actually reward them for going through the videos and learning about the project and learning about this and take a little quiz at the end. And then they can get a bounty for that. That educates your population. The more educated your Tao, the more valuable your project.

20:47  
Yep. Right? Yes. Now, is it true value real real value as in dollars and cents? Or is it crypto strictly only crypto value, which we don't we don't give any kind of advice here. We are always seeking

21:03  
financial advice, I am just telling you, and this is literally gospel, the more educated your community, whether it is crypto or not, the more valuable your project why, because if they are more educated, they will answer random questions for you, they will participate more, they will see the value they will tell their friends. And and you need to tell your friends you need to you need to get your community to be evangelists for your project, because that's where new blood is going to come in, which is dollars and cents valuable. Right? And and the more active your community, the more the higher your transactions, the higher your token value, right? One of the one of the key points that looking at is the project good, viable, whatever is transaction volume. So when you're going to drop this honey token, you have to build in ways for people to earn it through the bounty program, ways for people to spend it in the real world or on things. But you have to be really, really diligent about your token omics to make sure that it'll last you have some of these projects that are like, look, we're launching this token by 200 million of them and stake the token omics, because a lot of these staking pools and these liquidity pools that people set up, number one, they're very questionable. We've had big discussions about is it a security or is it not a security? So that's an issue. So you got to think about that. Having them do something that's why the bounty rewards system and the play to earn is so important in crypto, because they are doing something that makes it much more likely I will not say it is because I'm not a lawyer, I just play one on TV sometimes. But you really want to hit every single facet to avoid it being considered a security. Right. So security is it what the Howey Test basically is one way to determine if it's a security, I'm going to tell you the other way people screw up but an investment of money into an enterprise that earn or profits from the efforts of others. There's another thing in there with the expectation of profit from the effort. Okay. The Dow, it needs to be participatory, there needs to be utility. And if there's more utility, that better, right, multiple different things. And but even if it is a true utility, the words out of your mouth, your marketing message can literally transform your perfect example of a utility into a security. So look up munchie, Mun ch E and 2017. The SEC decision, their advertising gave people the impression that they could buy this token and they would make money. With this token, it was basically a food app. You could use it it was it was the perfect, perfect technical example of a utility except the words out of their mouth, turned it into a security and they'd give all the money back. So don't do that. So this is what lawyer lawyer lawyer, you need a lawyer you need you always need a lawyer. And if you don't have a lawyer and you just need to learn lawyer Lee things you need to follow Alexandra damska on clubhouse, she has a podcast and she's the smartest SEC lawyer on the planet that I have ever met. And I've worked with all of them. Thankfully, I've been blessed to work on projects all around the world with you know, the 1500 to $55,000 an hour lawyers all over the world. Lawyer lawyer lawyer, lawyer enough lawyer.

24:40  
So what you're saying essentially is if you're going to go into this field, you need legal advice you need to partner with attorneys usually have to lawyer up around the around around

24:52  
to hire listen, you need to hire an attorney. Here's why you need to hire an attorney. You do not find qualify emphasis on hire, hire, you do not qualify for malpractice insurance payments, if they screw up. If you did not pay them and have a retainer agreement, you need to hire an attorney, they need to be your retained official attorney, you need a contract that says they are your attorney. Okay? Things that they are doing for you

25:22  
and like need experience. They need to have experience in this case, we check that credential. Okay.

25:31  
I think I'm gonna come up with a list of like, 20 questions to vet? Yeah. I have so many attorneys that I've met, who are former like product liability, or or, you know, slip and fall or whatever, and they're now blockchain attorneys. And I'm like, that's not the same thing. Okay. First of all, an SEC attorney is a frickin SEC attorney. And if you hire an SEC attorney to make sure that you are clean and your fundraising is good, hire one that's worked for the SEC, please.

26:09  
Yes, yes.

26:11  
Okay, then also need a trademark and intellectual property attorney. Your SEC attorney can usually also double that, but you never know what depends on what you're doing. You may need somebody who specializes in that patents. The one bar you can join without going to law school, you have to be an engineer. And then you have to take the Patent Bar. And I was like, oh my god, I'm so taking the Patent Bar, my patents I fall. It's like it's mind blowing. And you can file your patent on your own right. I don't suggest it. I'm a completely different breed. I have a PhD in jurisprudence from a cheesy online law school. But I did the work. So you lawyer you need that patent the contracts. smart contracts are neither smart. Nor contracts. smart contracts are trigger procedures. So a smart contract says this happened. Now I do this. Right. So you don't want to rely on a smart contract, especially when you're doing any collaborations. Because when you're talking about collaborations you're talking about usually royalty splits, royalty splits are not written into a smart contract. There is one wallet, which should be a multi SIG, Hello, people. If you're not using a multi SIG wallet for your treasury, boom, that's a problem. That person dies, get hit by a bus or runs off to Malta, you're screwed. So you need to make sure everything goes into multisig. And preferably three out of five people because two people can conspire three people, usually not. So you're good. You want to so you want to go in multisig there are if you look at Lex it, that's one on one platform and and be social, if you guys are gonna end up launching these kinds of tools that your community can make can use to do this, you need to make sure that you have affiliates, bounties and royalty splits. These are the big ones, right? The royalty splits are crucial. And it's now just starting to weave its way into the ERC 720 ones but there's all different ways to do it. And then you also want to look at are those royalty splits baked into the smart contract because like on open sea, if you meant on open sea, your account that you log in with is where you set what your royalty is for that project for that collection. And the wallet it goes to, that's a single human. That doesn't work. Right. So you need, you need to make sure that the content and the open sea contract does not boil it. And so if you buy something on open sea, right, and then you go over to renderable, or another platform, and there's 1000s of NFT platforms and you go sell it over there, that royalty is not going to get paid. So as a creator, right, if your dad was creating these projects in these collections, you need to make sure that that's built in there. But that's that's what Lex it does. And it just does everything for that. Because that's the whole point is like people don't know how to do it. So they're not doing it. And then they're later on going wait a minute, so this guy just bought a painting. Think he bought it for like $1,500. And he just turned around, not even a year later, and he sold it for $750,000. And the artist isn't getting anything because it's physical painting. Right? You want to make sure that doesn't happen to you and NMT. Right. So, royalty protection is a big one for the Dow. One of the essay what does the Dow do what are some of the operations number one controls the Treasury? Right. That's where you have your proposals. I usually have a committee make sure that the proposal was complete and viable. So that means it goes to go through a legal review and a tokenomics review. So say they say we want to add this feature. And then you do the math, right, because most people don't know how to do the math, but you do the math and you figure out it's going to literally drain the Treasury in six months. That's not a proposal that's gonna go through. Yeah, right. So that's, those are the kinds of things that they're going to vote on then.

30:26  
If you're going to launch a new collection, how many how much those kinds of things you know, you're going to make a proposal for that and then the Dow will vote on it. The last thing you want to do is try and hurt 1000 cats and and in your your agreements with everyone, especially with leadership is dispute resolution. Think of this, think of a Dow and when you're creating a Dow, a prenup, y'all are marrying each other. What are you doing? What do you want to accomplish? What are the promises that you make to each other? To get back on track if you get off track, right? And then finally, what happens if somebody leaves, right? If you don't have those things agreed to before hand, it's very difficult to do it later. And then it it you don't have equal weight and power in the in the discussion or the negotiation. And so that all has to be done ahead of time people sign their contracts, this is what I'm agreeing to. That way you can also clearly identify if something goes wrong. A randomized, you know, grand jury, like here's the evidence, here's the evidence, and then that would go up for a dowel vote. And people would say this or this, but it's a randomized pool in context, right? So you're not going to it's not like they can go out and do well. I added the 3000 members, you know, I've got 2000 in my pocket. So I'm gonna win. It's like yeah, no, it doesn't work like that. It's literally going to be random and context and you don't know who your jury is gonna be. So you can't game the system. It's not like you can whip the votes like in the legislature. You can't whip the votes. We've already

32:07  
kept you over time. But I want to go on because and then Adrian, thank you so much all people reach out to me I'll connect them do that and for you, and we'll we'll love on you and of course you guys heard she does have the billionaire zombies club. So you can learn more about her there selling zombies have you?

32:38  
been listening to social bees radio. When we put the honey in the honey pots. Make sure to check out our next episode of social BS radio. Till then signing off.