Like all blockchain-based networks, Dash has been a Decentralized Autonomous Organization (DAO) from the start. But unlike almost all networks that are forked from or similar to Bitcoin, Dash’s ecosystem has been massively remodeled since its birth.
In August 2015, 10% of Dash’s block reward became available for funding whatever the network deemed necessary above and beyond its miner and masternode infrastructure. The following month in September, the first payouts were voted upon by Dash’s then ~3100 masternodes.
The first proposals to receive requisite “yes” votes from Dash’s masternodes were to hire various contractors. A “Core Team” salary was voted in, supporting both full and part-time contractors under an umbrella fund created by lead developer Evan Duffield.
Projects & Events
In addition to ongoing contractor payments, many standalone projects have been funded:
For general usability, there’s been the funding of “liquidity providers” to decrease PrivateSend mixing times, coding of Electrum wallet for Dash support, a Dash debit card via SpectroCoin, integration with hardware wallets such as Trezor and KeepKey, a vendor-geared Wi-Fi portal, a WooCommerce “Pay with Dash” plugin, and an integration with the ROKOS operating system.
And in the promotional category, there’s been material distribution at a Brazilian tennis match, sponsorship of The Daily Decrypt, promotional graphics by Alex-ru, the DashnDrink vending machine with InstantSend support, a four month marketing campaign from The Vanbex Group, and a three month video campaign of DASH: Detailed.
Speeches and presentations have also been funded, given at the Latin American Bitcoin Conference, Miami’s TNABC, Amsterdam’s Bitcoin Wednesday, Satoshi RoundTable, and Anarchapulco.
Policies & ‘No’ Votes
Several proposals have received “no” votes, from hiring a specific marketing agency to “catch-all” proposals for sending un-allocated coins to a “core” fund; from changing Dash’s mining algorithm away from X11 to funding research for “proof-of-labour” security alternatives.
Policy matters have also been decided, such as increasing Dash’s block size cap from 1MB to 2MB should it become necessary (“yes”) to de-activating Dash’s YouTube channel mirror (“no”).
Effects on Capitalization & Network
When the new DAO was adopted by the network in August 2015, Dash’s market capitalization was roughly $18 million USD. Now, ten months later, that number has tripled to $58 million USD. This puts Dash near its post-release all time high capitalization of $60 million USD — a feat many, and perhaps most, blockchain networks have not accomplished.
The network’s voterbase and infrastructure has also grown, as masternode count has increased 20% from an initial ~3100 to today’s ~3900.