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:
These are just some of the possible uses for them but the actual opportunities are endless.
Always wondered which DAO you truly belong to?
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