You will never have an excuse to miss another governance vote if a decentralized autonomous organization (DAO) calls or sends a text message to remind you of the event. Notifi Network has integrated with the Solana Realms DAO platform to help increase governance participation by expanding notification services.
Notifi Network is banking on this concept to help improve low governance voting participation rates. Launched with the Solana DAO, it combines popular centralized methods used by the Web3 community, such as Telegram and Discord pings, with more traditional and harder-to-ignore notifications, such as phone calls, text messages, or emails.
On April 24, Notifi, backed by cryptocurrency venture capital firms Race Capital and Hashed, applied its notification service to all DAOs that run on the Solana Realms DAO platform.
“Someone asked for notifications in Telegram? Heh heh heh… looks like they’re already here,” Notifi Network tweeted.
Notifi founder Paul Kim said that the mission of his project is simple:
“We want communities to be more active. You have bought tokens, so you must use them.”
Currently, Telegram and Discord chats are among the most common ways DAO members keep in touch with the project. However, Kim considers this method to be ineffective as, according to him, “most users turn off their crypto chats due to the high volume of messages.”
Because of this, it is difficult for users to know in time when new proposals have been made in order to vote.
Kim hopes to turn the tide on low participation by allowing Realms DAO members to choose different ways to be notified when a governance proposal is released. These notifications can start with Telegram or Discord direct messages, but Kim said they can be “expanded” to email, text messages, and even a phone call if they don’t respond.
Although email, SMS, and especially phone calls are not common communications in the Web3 world, Kim believes that they should serve a very important function for the DAO.
“For some reason, we just skipped email from Web2 when we moved to Web3. Can we challenge Web3 paradigms using Web2 primitives?
Clearly there is a problem with voter participation in DAO on Solana. According to DAO tracker DeepDAO, less than 1% of governance token holders in the top three DAOs on Solana – UXDProtocol (UXP), Mango DAO (MNGO), and Serum (SRM) – are active participants. Realms has 500 DAOs with a combined treasury value of $1.5 billion, according to Kim.
In an April 24 Notifi blog post, DAO Solana Labs software engineer Sebastian Bohr agreed that notification services do not currently play a role for the DAO. He declared:
“Notifications are an integral part of keeping community members informed about DAO activities.”
Ultimately, Kim said his service “can be used for all online transactions, including deals and airdrops, sales and liquidation alerts.” For now, however, “Realms is a proving ground” to see if its solution can allow users to move away from the keyboard.
“We can’t wait to find out what the data is showing us and what the actual usage trends of the messaging platform are,” he said.