A decentralized autonomous organization is a system without any central leadership. These organizations are transparent and community-centric and generally give their members the power to vote on proposals and updates, proportional to a member’s potential. Decisions are from the bottom-up, owned and managed by their members. DAOs are governed and organized by specific rules coded […]
Decentralized Autonomous Organization or DAO has been making a fuzz lately. These are completely automated companies with less human interaction, i.e., a company or organization without a CEO or controlling authority. DAOs have been in the limelight lately.
As DeFi and NFT communities grow enormously in size, how to govern decentralized protocols takes on added importance. Over the next few years, one of the most immediate challenges facing these communities is to figure out governance — the act of managing collective decision-making to optimize funds and operations.