The Internet Computer is set for a major shift with the launch of ICVC DAO, a decentralised autonomous organisation (DAO) designed to bridge the funding gap for early-stage ventures. Led by experienced founders within the Internet Computer Protocol (ICP), ICVC DAO provides crucial financial support to promising projects that have gained traction but are yet to launch their Service Nervous System (SNS). The initiative aims to help these ventures mature and build strong communities before their SNS launch.
Despite the potential within the Internet Computer, many projects struggle to secure funding beyond their initial phases. Early SNS launches often become a primary funding source, making it difficult for teams to sustain momentum without additional backing. ICVC DAO addresses this challenge by offering investments between $500,000 and $2,000,000, providing much-needed capital to projects that require further resources to thrive.
At its core, ICVC DAO operates under a community-driven governance model, where token holders play a central role in investment decisions. The process follows a structured 15-step evaluation framework, assessing ventures on key factors such as business viability, team capabilities, technological innovation, and market potential. This democratic approach ensures investment choices remain transparent and aligned with the community’s collective vision.
The founding team of ICVC DAO brings deep expertise in building and scaling projects within the ICP. It includes Luke Dugdale, CEO of Plug; Mazens Zibara, CTO of Plug; Clement Mayer, COO of Plug; Isaac Dugdale, co-founder of VaultBet; and Orlando Hutchings, co-founder of Carbon Crowd. Their experience in navigating early-stage challenges has informed the creation of ICVC DAO, with the goal of fostering the next wave of innovation on the Internet Computer.
A standout feature of ICVC DAO is its commitment to decentralised governance. All major decisions, including investment approvals, evaluator appointments, and operational strategies, are made through a voting process embedded in smart contracts. This model ensures that power remains distributed, allowing token holders to shape the direction of the organisation. By pooling resources, the community gains access to unique opportunities and investment terms that would otherwise be difficult for individual investors to secure.
The investment process is designed to be both rigorous and accessible. Ventures seeking funding must submit applications detailing their business model, team, market potential, and funding requirements. Token holders then conduct an initial vote to determine whether a project should proceed to full evaluation. This early screening step ensures that only the most promising ventures move forward, streamlining the selection process for both applicants and evaluators.
For projects that advance to full evaluation, the 15-step review process covers various aspects, including business strategy, team strength, market assessment, financial projections, and legal compliance. Token holders actively participate by grading each section, facilitating a structured and collaborative discussion. Final investment decisions are made through a community vote, with funds released only upon majority approval.
ICVC DAO follows a standardised investment structure to maintain fairness and simplicity. In exchange for funding, the DAO secures a 20% equity stake in each venture along with a 10% allocation of any future ICO or SNS launch. This model aligns the interests of the DAO and the ventures it supports, fostering a mutually beneficial relationship that drives growth on both sides.
The disbursement of funds is also carefully managed to mitigate risks. ICVC DAO holds its capital in $ICP within its treasury, releasing funds in stages based on community approvals. This ensures responsible allocation and prevents misuse of resources.
Beyond funding, ICVC DAO fosters a dynamic and engaged community. The platform integrates OpenChat, a decentralised messaging service, to enable real-time communication among token holders. This feature allows participants to discuss projects, share insights, and contribute to decision-making in an open and collaborative environment.
The launch of ICVC DAO marks a significant milestone for the Internet Computer. By addressing the funding gap for early-stage ventures, the DAO has the potential to drive a new wave of decentralised applications and services. Its community-driven approach sets a precedent for decentralised governance, empowering individuals to take an active role in shaping the future of Web3.
As ICVC DAO embarks on its mission, the focus remains on identifying and supporting high-potential projects capable of transforming the decentralised internet. With a robust governance structure, a transparent investment framework, and a committed community, the DAO is positioned to make a lasting impact. For early-stage ventures, ICVC DAO offers not just funding, but a strategic partnership that can accelerate their journey toward success. For the broader community, it presents an opportunity to participate in building a decentralised future, one venture at a time.
