ETHDenver’s SporkDAO Issues First Patronage Token Distribution 

Members holding staked $SPORK ($sSPORK) will receive a portion of community-generated profits.

SporkDAO LCA (Limited Cooperative Association), the Colorado cooperative that owns ETHDenver LLC, distributes $52,800 in community-generated profits to its members. This is the first time a DAO has issued a profit distribution for patronage to its members.

“Governance tokens, as they’ve existed in the past, provide no real incentive to create value for a DAO. To achieve success as a DAO, the token distribution and the organization’s vision must align. This is what SporkDAO aims to achieve through our patronage token distribution model,” said John Paller, Founder of SporkDAO and Chief Steward of ETHDenver.

On October 15, 2024, a snapshot identified eligible members with at least one $sSPORK. The $52,800 in profits will now be distributed among them. This distribution is SporkDAO’s first patronage event, showcasing a new model in DAO-based rewards through an LCA structure— a novel approach for decentralized profit-sharing.

SporkDAO’s patronage distribution operates within the framework of a Limited Cooperative Association (LCA) model, emphasizing equitable profit-sharing based on contributions to the ETHDenver ecosystem.

To qualify for patronage and earn $SPORK tokens for staking, members must actively contribute to ETHDenver by participating in activities:

• attending events,
• serving as stewards,
• submitting projects to the #BUIDLathon.

Staking $SPORK enables members to access profit distributions, ensuring rewards are tied to both active participation and long-term commitment.

This distribution marks the start of regular patronage distributions designed to encourage sustained community engagement well after the ETHDenver festival. The initiative reinforces ETHDenver’s commitment to shared community value and rewards.

SporkDAO serves two primary purposes. First, to realize the vision of Colorado becoming a destination of choice for Web3 innovation while also becoming the “First Digital State,” as announced by Governor Jared Polis in February 2021. Second, to integrate the greater Web3 community with Colorado through access to events, experiences, and collaborative value creation.

$SPORK tokens cannot be purchased. Members earn $SPORK for engaging through patronage activities that contribute value to SporkDAO mentioned above. Upon creating an ETHDenver Account, members automatically receive one $SPORK staked to ensure eligibility for future rewards.

By rewarding community contributions and staking with tangible value, SporkDAO’s patronage model helps retain and attract active members, creating a regenerative cycle of participation and growth. The subsequent patronage distribution is scheduled at ETHDenver 2025, February 23 – March 2. This year’s theme is The Year of the Regenerates.

About ETHDenver and SporkDAO

• ETHDenver is the world’s largest Web3 #BUIDLathon and Community Innovation Festival, bringing together blockchain developers, artists, and entrepreneurs to collaborate on decentralized applications and infrastructure projects.
• SporkDAO is the community-owned cooperative behind ETHDenver, using the LCA model to facilitate shared value creation and support Web3 development through initiatives like Bufficorn Ventures.

For more details, visit ETHDenver and SporkDAO.