☯️What problem does Accord Solve?

Issuing a Token 'prices' the DAO in the market

'DAO's want to delay tokenisation but need to reward contributors

The Token Generation Event (TGE) is one of the most significant events in a DAOs lifecycle.

Getting the TGE wrong can be the beginning of the end for a project. The TGE has a lot of moving parts and there is a lot of work to be done.

Imagine going to a Series A investor too early: missing key skills, a poorly thought out concept, not having the tech right, no customers, scrappy marketing materials. It's a disaster. If you do get someone to invest then your shares are not going to be the price you hoped. Your company was priced too early. It's hard to recover from that. Anyone who comes along after that event will always look back to the last price as a guide to what they should pay to buy into your company: investors, employees seeking options, partners etc. The same happens with any token that is priced too early.

There is little guessing why most DAOs have not yet issued a token.

Therein lies the 'Catch 22' every DAO faces. How can we incentivise contributors without a token?

DAOs are not alone in experiencing this problem. All start-ups face the same issue in that the early founder contributions need to be valued, measured and rewarded to provide incentives toward the pricing event whether it be a token or external investment.

Accord solves the problem every multi founder team experiences:

Measuring and rewarding contributions.

The typical (imperfect) approach for startups is to split equity equally between each member of the founding team, with the expectation each is bringing equal value. It's not a great approach even for startups and hardly a valid solution for DAOs, as the entire founding community are the essentially ‘founders’. Even if still at the infancy this could be ten or more people committing time and effort in varying degrees to form the DAO.