DAO
Decentralised Autonomous Organization. A business model that operates on a series of set parameters, built into the company from inception allowing the company to operate with optional intervention from its creators, but is otherwise self-sufficient and revenue generating in its intended economic climate.
In a sentence
The DAO used token-based voting to decide how treasury funds should be spent.
- The DAO used token-based voting to decide how treasury funds should be spent.
- Members submitted a proposal for the DAO to support a new development grant.
- A smart contract enforced the DAO’s approved governance rules.
- Participation in the DAO was open to holders who met the voting requirements.
- The DAO delegated routine operations while reserving major decisions for community votes.
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