Alchemy is an application for participating in the budgeting and resource allocation of DAOs.
Alchemy’s initial versions make it easy to carry out three simple actions:
- Make proposals for the DAO to take a specific action. A proposal is equivalent to a project pitch that contains an explanation of objectives, methods, costs and milestones of the proposed project.
- Predict whether a proposal is going to pass or not in the DAO. This helps guide the collective voting process by sorting and prioritizing the proposals. Predicting is also called staking.
- Vote on whether a proposal should be accepted or rejected.
Anyone can propose and predict in any DAO. However, only people who hold reputation (voting power) in a specific DAO can vote in it.