What is a DAO?

Let’s start for the basics! 😊

DAO stands for Decentralized Autonomous Organization.

Let’s break it down word by word:

Because DAOs are still very new and haven’t yet learned how to operate in a fully decentralized or autonomous way, not many fit this description.

<aside> 👉 You can think of DAOS as entities that allow their communities to work together by using blockchain technology, and the incentives it enables, to fulfill a common purpose.

DAOs are governed by the community, for the community.

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What is the GoodDAO?

The GoodDAO is the governance protocol that governs the GoodDollar protocol, and empowers community members to take an active role in determining its future: shaping GoodDollar’s destiny as it seeks to create free money as a public good for all.

In the GoodDAO, all GoodDollar community members have the chance to play a more active role! All GoodDAO decisions are meant to maintain a protocol capable of generating, financing, sustaining and distributing a digital basic income in the form of the G$ token to claimers all over the world.

GoodDAO’s three main operational goals are:

If you want to know more, you can check out our Governance paper.

<aside> 👉 In the GoodDAO everybody gets a say! GoodDAO members are members of the GoodDollar community. Members have the power to vote on all proposed changes and to make their own proposals.

For example: The GoodDAO elected a team community moderators to take on responsibility for monitoring communications and onboarding members. They are hired from the GoodDAO and they get paid on a monthly rate.

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