[BIP-11] Establish Bao’s Vision, Mission, and Values

Officialize Bao Ideals and ambitions.

This is a BIP of @Varyints concept to define and vote to establish Bao’s vision, mission, and values to better guide decisions, work, and interactions with the broader community.

OUR VISION

Market incentivized information. Accurate, consumable data streams in the form of synthetics to move the power of information from institutions to individuals.

OUR MISSION

Build a platform for the creation of synthetic assets that represent any kind of data in the world. Synthetics will be backed by liquidity to ensure their accuracy making the most accurate data the most highly valued.

OUR VALUES

We believe in…

Equality

  • Because institutions shouldn’t have power over people.
  • To achieve this Bao will build platforms that make it easy for anyone to create and use synthetic assets.
  • At Bao our community drives the project. Together we shape the future of BAO.

Empowerment

  • Because people want to make decisions based on information that is meaningful to them.
  • To achieve this Bao enables any person to use synths so that ideas, information, and decisions are decentralized and trustless.
  • At Bao every community member understands the Bao ecosystem, Bao’s vision and roadmap, and participates in governance by writing or commenting on proposals and voting on them.

Security

  • Because consumable data crowdsourced from all over the world is more reliable and powerful than data from a single source.
  • To achieve this Bao makes security a priority in development so users can trust the protocol that governs data on the platform.
  • At Bao we protect the community from bad actors and look out for each other.

Accuracy

  • Because accuracy enables better decision making and inspires creativity.
  • To achieve this data streams will be vetted by everyone with the help of decentralized oracles.
  • At Bao we make the effort to understand others and make our ideas clear and actionable.

Creativity

  • Because each person’s contribution is unique and important.
  • Bao achieves this by enabling synth solutions that don’t yet exist for uses that haven’t been imagined.
  • At Bao we celebrate and encourage creative contributions (artwork, videos, new perspectives, and unanticipated contributions).

Is this proposal ready to go to vote?

  • Yes
  • No

0 voters

2 Likes

Thank you Jester. My name is Varyints and I approve this message. ;)

2 Likes

Hello Jester, I am new to the community but I’ve been a HODLer since last April!
This looks to be a great overview of the vision of the project!

3 Likes

Commitment to bring value to our token,nft and governance holders through our products and investments.

1 Like

I believe that these ideals and goals will bring this already by building products that are utilized by the broader ecosystem.

1 Like

That is accurate but it’s not explicit unlike the other areas of the statement. Please consider adding something about our token and governance. Thank you.

I think I see what you’re saying but I also see a couple of issues with explicitly stating the goal of adding value. The first is practical: in the US a security is defined as an investment in a common enterprise with the expectation of profits derived from the efforts of others. Explicitly stating that Bao will bring value to token holders inches BAO a little closer toward classification as a security which I don’t believe it is. Secondly, I think that adding value is the goal of any organization, non-profit, or group of people and so stating that is redundant. Although stating it could be reassuring to some users I believe that the most valuable projects don’t advertise how they’ll bring value to users. Instead, it’s obvious and users are drawn to the value they see. Lastly, I think the purpose of the Mission statement is to define a more or less specific end-state in the far future. Adding value wouldn’t belong in that section so if we want to put across that we care about our value to the ecosystem then I think it’s better conveyed in specific terms through another document like the roadmap or individual governance proposals.

2 Likes