What is a DAO?

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What is a DAO?

3 min read

What is a DAO?

A Decentralized Autonomous Organization(DAO) is an entity without central leadership. Instead DAOs are governed by the community around it. They are usually organized around a specific set of rules usually enforced by a smart contract.

DAOs are Internet-native organizations, owned and managed collectively by their members. They are a key player in the crypto landscape and some even have their own token.

They have built-in treasuries, which can only be accessed with the approval of their members. Decisions are made through proposals on which the group votes for a fixed time period.

A DAO works without hierarchical management and can serve many purposes. For instance:

  • Freelancers who pool their funds and build a creative agency.
  • Charities where members get to approve donations.
  • Group-owned venture capital firms.
  • Building a collection of NFTs with other people.

These are just some of the possible uses for them but the actual opportunities are endless.

Which DAO is the DAO for you?

Always wondered which DAO you truly belong to?

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