EOS Vision originated in 2017

Arman Shirinyan

BitShares, Steem and EOS Co-Founder Presents New Version of DAO


Creation of modern DAO conceptThe new version of governance

Daniel Larimer, one of the co-founders of Bitshares, Steem and EOS, presented Fractally DAO, which is expected to become the “DAO of DAOs” that the original will bring EOS vision of 2017 towards the modern market.

fractal is going to inherit the best features of social media platforms, high-performance smart contracts and decentralized governance processes. As the developer notes, Fracally will feature “lessons learned” from its first two blockchains: BitShares and Steem. The author outlined in his book the key rules tested by the Eden on EOS community.

Creation of modern DAO concept

In 2013, the term “decentralized autonomous company” was coined by Larimer and was used to better understand the economics of Bitcoin and the design of BitShares.

Later, the concept evolved into DAO, or “Decentralized Autonomous Organization,” which is used quite often today. BitShare was and to this day is one of the best performing decentralized exchanges in the crypto market.

Steem was the first decentralized social media platform to operate on a blockchain. Over time, it has become one of the most popular websites in the world, where users can post their content and receive monetary rewards. Fracally will inherit the updated version of Steem’s social rewards structure, which will serve as the foundation for incentivized blogging on EOS.

The new version of governance

In 2021, the concept of fractal governance was tested by creating Eden on EOS and hosting three elections involving hundreds of people. The experiment was considered successful by both hosts and participants. The Violet.garden blogging application on EOS was able to leverage the uniqueness of Eden users and bring out universal basic income on EOS.

Every bit of experience and practice from EOS-based projects like BitShares and Steem will be reflected in Fractal DAO, which will bring the project’s original vision to market.

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