---
title: WhaleStreet Thoughts
tags: mysticwhales, whalestreet
---
# WhaleStreet Thoughts

During the call, I can gather that WhaleStreet is a **product first, DAO second**. Unlike Service, Investment or Collector DAOs which coordination typically involves processes only, WhaleStreet's DAO should have the "**Product" in mind** (wider product includes tokens, liquidity incentives, NFTs, etc.) to incentivise stakeholders in **using, up-keeping and sustaining the DAO & product meaningfull**y.

Hence, it is crucial to first analyse the **Product** (Problem, Solution, User Personas) and then the **DAO** side of things (i.e. Why, How, Whats before diving into the operational details such as Membership, Shares, Governance, etc.). With the above mapped out, we can then assess whether their **Wants and Needs** are necessary, practical and achievable.
holders).

These are early thoughts, which I can dive deeper after looking at materials & slides sent over after the call

## Product

### Problem
There are a couple of problem statements, which are **quite scattered and not clearly articulated**. While there has been quite a few developments (covered in Solutions section below), it is **not intuitive to understand why WhaleStreet exists and what is trying to solve**.

From what I've gathered, the problems they are trying to solve are
1. Provide extra utility for NFTs beyond just owning it (assumed from the bundling of DeFi & NFT together)
> This adds some value to the NFTs space, but is quite vague and can help with more specificity (i.e. what it inlcudes and what it does not). It'll help community members better visualise & understand why they should care. Also, It'll help us better help them in reccomending things (e.g. why 3 tokens? what should each DAO member do?)
2. Tokenise streaming or broadcasting rights of Performance Artists (assumed from the RightShares concept they mentioned)

> With very little information, this sounds like it could have some value too. But it's probably better to figure out what does providing extra utility actually mean (mentioned above). Once that is answered, it should be easy to fold this into the big picture (since tokenising rights into a digital asset format is step 0 in providing "extra utility")

### Solution
There seems to be quite a few features on WhaleStreet.

It seems like the first type of offering is the **DeFi Key auction**, which gives **auction winners to ability to create dApps** on WhaleStreet and get a **revenue-share** from dapp Revenue. The higher the rarity of deFi Key, the higher the revenue share (25 - 75%).

The second type of offering are the **dApps that can be deployed in a low/no code feature on WhaleStreet by deFi Key Holders**. So far, it seems like they are the $HRIMP and $B20 Farms.

The third type of offering are the **RightShares product**, which is not live yet. Hence, I can't really make much analysis here

> Inheriting the issues from the Problem Section, the solutions here seem to work individually but does not convey the shared vision / purpose on why I'm on Whalestreet's website. This is also a UI/UX issue which can be addressed separately

#### Extended Solution: Tokens
There are 3 different types of tokens (which have their respective roles). We should probably **distil the roles of these tokens, such that they can be clearly communicated**. Especially as we are dealing with artists (who may not be crypto-savvy), having **>1 token will likely introduce friction**.

| Token | Persona | Purpose |
| -------------------- | ----------------- | ------------------------------------------------------------------------------ |
| Main DAO Membership Token | Core Team | Governance token / share |
| DeFi Key | 'Curators' | Permission 'token' to determine who can deploy dApps & revenue share from dApp |
| $HRIMP | General Community | Transactional currency to purchase NFTs or auction for DeFi Key |

> I'll probably need more time to understand the community, etc. but I do see the roles of each of these tokens. I'll have more questions on:
> 1. **Governance token** - Can it be a Share in DAOhaus and made simple (i.e. everyone has standard 1 or 100 shares)? If this is introduced as a non-tradeable/gameable thing, it's one less thing for users to wrap their heads around
> 2. **DeFi Key** - Seems like the permissioning function is necessary here.
> 3. **$HRIMP** - Seems like the token for WhaleStreet to accrue value with more network usage.

### User Personas
1. Core Members of the Governance DAO
2. Curators (i.e. people who bid for DeFi Keys)
3. Artists (Generative, Performance, PFP, etc.)
4. Community Members (i.e. just general $hrimp holders)
5. Contributors

> For now, the Artists persona would need more attention as to how we are communicating things, as the rest should be crypto savvy

## DAO
On the DAO side, it seems like WhaleStreet envisions an **ecosystem of DAOs** and I kind of see it as well. Most likely, there will be the main governance DAO / Council, and many other related/sub-DAOs for different personas (e.g. Curators/DeFi Key Holders, supporters of a certain Dapp, etc.)

I'd suggest to **begin with a main DAO** to set up the governance framework, roles, membership, voting set up first.

Main DAO things that need to be sorted out:
* Purpose / Charter of DAO
* Membership - What's the criteria? Who decides?
* DAO Parameters - Proposal velocity, etc.
* Shares - What's the power dynamics?
* Discussion & Discourse - How are issues discussed? Discourse/Discord/Bi-weekly calls?

After this, WhaleStreet can make some announcements to get their community involved, so we can see what are the **emergent community interactions that are urgent or have high potential to be DOA-ified.**

From there, these other DAOs can be summoned and the main DAO can **provide funds / framework / membership oversight to kickstart these other DAOs**. As we summon more of these new DAOs (e.g. hub & spoke model, DAO of DAOs, etc.) and better understand what works & doesn't, we can then help them **codify what are the best practices** that works within the WhaleStreet ecosystem

## Needs

The most immediate need I see for WhaleStreet are:
1. Clean up value proposition & why the project exists
2. Clean up the different roles in the ecosystem & how each token should be used
4. Conduct research & decide on main DAO set up
5. Set up main DAO and get some decisions going
6. All the above should be delivered in an article series / docs (i.e. why? how? what? of WhaleStreet + Governance Model)

This should form the first phase of the project. The next phases (if any) should be shaped based on:
* New products that are coming up, such as RightShare (hence new interactions & human coordination required)
* New interactions between community members (hence new modes of human coordination required)