📚 DAO Essential Readings

• A beginner’s guide to DAOs by Linda Xie
• DAOs, DACs, DAs and More: An Incomplete Terminology Guide by Vitalik Buterin

Other links

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What are DAOs?

A Dencentralized Autonomous Organization (DAO) is a group represented by a set of rules enforced on a blockchain. DAOs eliminate the need of a central administrative entity to make decisions and commit funds to a specific cause. This power is given to the community instead, with the use of governance tokens giving community members voting and governance rights.

In other words, they are organizations that operate without central authorities, but rather governed by rules coded in software on the blockchain, and where administrative decisions are voted upon by a community of stakeholders.

Examples:

• MakerDAO is an organization developing technology for borrowing, lending and a stablecoin called DAI.
• CurveDAO is building an automated market maker (AMM) that generates fees and provides revenue sharing for token holders that lock their tokens.
• FlamingoDAO is a for-profit, NFT-focused DAO. They have been actively investing in NFTs and made news when they paid $762k in ETH for a rare CryptoPunk NFT.

📜Source: A beginner’s guide to DAOs by Linda Xie