A Note about Tech Fleet’s Future as a Decentralized Nonprofit
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Morgan Denner, Executive Director and Head of UX @ Tech Fleet
It’s been a couple of years since our online community has formed, and it’s amazing to see how it’s grown. The momentum and impact of the community continues to scale. I’m absolutely blessed to be a part of this growing initiative to better the chances of people getting into Tech. We’ve only just begun.
We’ve shared a lot of plans so far for our future efforts, and we are still moving toward them. The founding team has been discussing ways to move forward in order to sustain our growth while remaining aligned to the charitable mission. As Tech Fleet moves forward, it’s important to stay grounded in the mission to create fair access to tech careers for everyone, even in lieu of changing directions in Web3 industries.
We have to remember why this community formed in the first place: there’s a huge problem in tech that we must solve through giving the newbies of the world a chance to truly level-up. We need to provide new opportunities for those who get shut out of them in the world today.
It’s back to basics.
Tech Fleet as a Nonprofit DAO
Tech Fleet plans to form as a nonprofit DAO operating on Flux and Kadena. We will forever be a philanthropic, charitable, and decentralized organization. As a nonprofit DAO, we can make a global impact while ensuring our efforts are legitimately aligned to the mission.
What Kind of Business Will Tech Fleet Be?
Tech Fleet’s incorporating as a 501(c)3 pending Nonprofit corporation in Delaware. It will have a DAO governance structure within its bylaws that provides a balance of power between community members and nonprofit board leadership. We’re doing this to provide members with a stake in our future, giving the power to the hands of the collective community instead of a few selected individuals. At its heart we’re an organization run by the people for the people, and the only way to fully enforce this is to provide community-driven governance rights. We’re choosing to do this rather than create a for-profit startup serving the same purposes so that the org’s efforts always remain on the mission, and not the profits for investors.
What’s Happening to our Web3 Technology and the Tech Fleet Talent Network?
Our plans for the Tech Fleet Digital ID and the membership NFT live on within the nonprofit DAO to help accomplish our vision to make tech career aspirations a reality for all.
For now the mission lives on with our blockchain technology as tools to achieve the mission. Check out the article that details these plans.
How will Tech Fleet make money to sustain its growth?
Tech Fleet’s going to generate revenue through NFT membership sales, digital ID fees, corporate and educational sponsorship, secondary market NFT sales, donations, and educational revenue.
How Would Voting Work in the Nonprofit?
The two sides of the ecosystem within the nonprofit are the Nonprofit board and the DAO members. The nonprofit board would be voted in and would have the power to make decisions for the nonprofit. DAO members can veto and referrendum decisions made by the board. DAO members would have a say in who gets hired or fired within the organization as well. If the DAO members want to bring new change to the nonprofit, they’d create a proposal and vote on it; if the vote passes, the board is responsible for enacting the decision. This creates a balance between DAO members not being required to stay fully active forever, and still having a voting voice in the future decisions when it makes sense to make change.
How would DAO Voting Weight Be Calculated?
The gist is simple: the more you take on Tech Fleet apprenticeship roles, lead roles, mentoring roles, freelance roles, or internal team roles, the more voting power you will hold. The voting weight will be tracked on the blockchain and enforced through Kadena and our Digital ID offering. The more you contribute to the success of Tech Fleet, the more voting power you hold.
What would DAO members be able to vote on?
This is still being decided and built out. Look out for more details on changes that get made, but here’s what’s been defined in scope of DAO voting power so far:
- DAO votes to approve hiring of leaders
- DAO votes to approve firing of leaders
- DAO votes for budget proposals within the organization
- DAO votes to veto or referendum a board decision
- DAO votes for new initiatives
What’s Happening to the $FLEET Token?
Decentralization is at the core of Tech Fleet’s mission because we must give the power to the people serving in this community.
It’s important for our community to remember this: blockchain is the technology that can help us accomplish our mission, and it’s merely a tool to make it happen.
Tech Fleet’s goal is not to make profits for investors in the community. Our goal is to better the lives of others who don’t get a chance to succeed today.
For the near-term, Tech Fleet’s removing the plans to launch a $FLEET token for investment contracts and governance. The $FLEET token will potentially still play an important role in governance. In the future, the DAO is welcome to vote it in. Once the DAO is operating on-chain, members of Tech Fleet Community DAO will decide the future of the $FLEET token as a governance token.
Until then, we’re focusing on the use cases that sparked this revolution. We will continue delivering the pieces that bring real value to our community: lifetime access to level-up opportunities and decision power in the future of Tech Fleet’s mission.
Decentralized Governance as a Nonprofit
Decentralization is still a huge factor in our success. The nonprofit DAO must still be designed to provide real voting power to the community. It must remove factors that lead to power manipulation and collusion.
The community will have a full voice in the future forevermore, even after a nonprofit board forms. Look for the DAO to share plans for voting and governance structures as they get refined.
