History of Tracer DAO
While the concept of a DAO is not new (see this blog post by Ethereum founder Vitalik Buterin from 2014), true DAOs are few and far between. We think that makes Tracer a special project; it's been a DAO from day one.
Organising around a problem on a blockchain isn't easy, but it does leave a record every time members reach a decision about the project. Here's a brief history of the DAO, pulled together from all of our open-source code, governance discussions and on-chain transactions.
The original Tracer DAO repo is credited to Github user @chriskyle123, from who @RayMogg forked the code into Tracer's official Github organisation on 4 Jan 2021:
The participation agreement attached to the Claim.sol contract describes the codebase as an "experiment in the field of decentralised governance structures".
InitialClaimcontract allowed up to 100 individual addresses to each claim 100,000 TCR tokens. Over a period of two weeks, all 100 allocations were exhausted:
Each address to claim got a single TCR. The other 99,999 were sent to a vesting contract with a 6 month cliff.
The newly formed DAO voted on a proposal to engage Mycelium (then Lion's Mane) to develop derivatives software for the project. The proposal succeeded:
The Mycelium team (of which @RayMogg is a founding member) were given a 193,500,000 TCR (19.35%) stake in the project.
In March 2021, Lion's Mane (Mycelium) pushed a proposal to the DAO to move to snapshot and a governance multi-sig. The proposal succeeded:
In June 2021, a proposal was passed for a Tracer DAO treasury diversification. The DAO transferred 10% of the network's governance tokens, in exchange for $4.5m USDC. The proposal listed here passed:
In September 2021, a proposal was passed to sell 50,000,000 units of TCR in the form of a gnosis auction. This was executed, and the auctioned TCR reached a price of 0.075 DAI/TCR. The proposal was completed here: