By George Ward
The MetisDAO Foundation, a Web3 firm, recently launched its innovative contract platform, Koris, which it said will enhance decentralized organizations’ overall productivity. Koris is expected to boost the operations of Web3 entities through its end-to-end operational systems.
Smart Contracts For DAOs
According to the company’s announcement, the unveiling of Koris will help decentralized autonomous organizations (DAOs) enhance their operating system through its governance and management tools.
The development team noted that whole DAOs are known to have collective decision-making and operational features; they can be improved further by integrating more tools to enable them to expand Web3 enterprises.
Commenting on the latest development, the chief operating officer (COO) of Koris, Chelsea Kubo, states that the demand for DAOs with vital management transparency is increasing. She disclosed that the infrastructures and the management models reflect what the DAOs stand to achieve, and Koris as a platform is geared toward helping firms succeed in the Web3 environment.
With this, the COO added that it is only a matter of time before large businesses and Web2 firms join the fray. However, the innovative contract project is currently in the beta testing phase, with the company stating that in the future, users will be able to develop their DAOs on Koris.
Decentralized autonomous organizations have seen rapid support recently as the digital asset industry seeks to develop smart contracts and Web3-based operational infrastructures.
Meanwhile, the World Economic Forum (WEF) also voiced its support of DAOs by launching a specialized toolkit containing a collection of over 100 contributors. They aim to expand the use case for DAOs by developing strategies for effective protocol governance and operations.
Several top players in the DAO ecosystem have previously explained how the system and blockchain, in particular, can help promote efficient productivity across industries.
How DAOs Can Ensure Long-Term Sustainability
Nevertheless, there has also been a rise in community-based projects within the Web3 ecosystem. With more than 4,000 projects scattered all over the Web3 space, and new tools developed to make DAO operation seamless, the burning question is what will make these projects relevant in the long run.
At the core of decentralized organizations is their basic structure, a product or service that can add value to other protocols. Experts claimed that DAO without a community serves no purpose.
According to them, building a participative community is one step, while aligning with other DAOs and putting participation mechanisms in place is another essential requirement to make DAOs more enduring.
Furthermore, funding is another factor that will make a DAO project relevant through economic plans to ensure sustainability. Through the token launch, communities develop ways to create a fund channel for a particular project.