DAOs are often popular due to their decentralisation, transparency and ability to operate with self-executing smart contracts. If you're looking to set one up, read this ⤵️
. These on-chain pieces of code make DAOs less reliant on human input to operate. For example, a proposal could have its results posted on-chain and automatically trigger a proposed change. A new proposal can’t be censored, and votes cannot be technically rigged.
DAOs are useful ways to organize communities, especially if they are mostly anonymous. There is often no accountability to a real identity, and you have to trust people you don’t know. A DAO allows them to organize themselves efficiently with technology that guarantees integrity. It’s also easier than creating a traditional organization or entity as many projects have international teams. Finally, a DAO is a cheap option for its functionality in organizing people.
Understand carefully that a DAO will hold you accountable for its decisions. By decentralizing power, you no longer will have total control over your project. If you decide to ignore governance decision-making, there will almost always be negative consequences.Among other things, a successful DAO should cover at least the five points below:DAO’s are simply a way of organizing projects or funds. Without a good underlying project and reason, your DAO will have nothing to run.
. All of them will provide roughly the same structure, but the ways they do it can differ. Some DAO systems work with on-chain polling and others off-chain. The exact one to choose will depend on what your DAO deems important.
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