The Moloch DAO: Collapsing The Firm.

Moloch DAO is a proposed organisation design, developed by Ameen Soleimani, Arjun Bhuptani, James Young, Layne Haber and Rahul Sethuram, that aims to coordinate resources for issuing Ethereum development grants. Under its rules, stock holders can vote only on issuing new stock, and capital is accessed by destroying stock, which also forfeits the voting right. The author argues that collapsing traditional firm functions into this process reduces coordination costs, at the price of less flexible control over resources. Members can join by giving any ERC20 token as tribute, even zero, in exchange for voting shares approved by existing holders.