What is a Decentralized Autonomous Organization (DAO)?
DAOs are becoming more and more well-known because of their importance in decentralised finance. DAOs are a mechanism for organisations to organise and align interests in order to accomplish common objectives. Organisation groups can more easily collaborate and unrestrictedly change the laws of made-up entities thanks to DAOs.
Although each DAO is unique, when you join one, you typically accept its terms in accordance with the coding in place. The majority of changes necessitate a member vote. Below are a list of some examples of DAOs in different sectors.
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Protocol DAOs
Protocol DAOs are the most common type of DAO, which is often found behind any major decentralized finance (DeFi) protocol.
The ENS DAO is a DAO that governs the ENS protocol. Here you will find important links and resources related to understanding and participating in the governance of ENS.
Any $UNI holder can propose changes or new features, and other community members can vote on them before being implemented.
The Curve protocol started its journey toward decentralized governance by launching a decentralized autonomous organization (DAO) to manage changes to the protocol.
Maker utilizes a DAO framework to vote on things like adjusting the DSR (Dai Savings Rate) interest rate, the stability fee, or even triggering an emergency shutdown.
Social DAOs
Social DAOs can resemble any social group, which frequently has a shared interest. They could be a group of savvy investors or just some friends who hang out online or in person. The DAO determines the goal.
Friends With Benefits is a worldwide group of cultural creators, thinkers, and builders who convene digitally and IRL to collaboratively shape Web3’s future.
Developer DAO exists to accelerate the education and impact of a new wave of web3 builders.
Is DAOs Web3?
Decentralized autonomous organizations (DAOs) are a staple of web3. Internet-native and blockchain-based, DAOs are intended to provide a new, democratized management structure for businesses, projects, and communities, in which any member can vote on organizational decisions just by buying into the project.
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Bright Moments places an emphasis on IRL events, particularly live NFT minting experiences, while the majority of other social DAOs emphasize digital interactions and online community building.
Our roadmap is taking us on a journey around the world to mint 10,000 CryptoCitizens. Each city mint brings us 1,000 NFTs closer to our goal. With our CryptoLondoners this July, we will be half-way there!
Investment DAOs
Investment DAOs are comparable to conventional investment funds that use pooled resources to function. The holders of investment DAO tokens can vote on the investments made with the fund pool, as opposed to a single centralized entity making all the decisions.
Seed Club is a DAO that builds and invests in communities.
We’re building a future where the value created by communities on the internet is captured by people, not platforms.
In the US, the LAO is set up as a member-directed venture capital fund. It complies with US regulations and is registered as a Delaware limited liability corporation (LLC), yet it operates using a DApp and smart contracts.
Collector DAOs
A collector DAO is a DAO that collects, sells, and issues NFTs is known as a collector DAO. Collecting assets of all types may be made simpler and more accessible via collector DAOs.
DAOs that pool together money to purchase and co-own valuable assets.
PleasrDAO is a collective of DeFi leaders, early NFT collectors and digital artists who have built a formidable yet benevolent reputation for acquiring culturally significant pieces with a charitable twist.
$WHALE IS A SOCIAL CURRENCY
THAT IS BACKED BY TANGIBLE
AND RARE NFT ASSETS
WHILE EMBODYING SCARCITY
THROUGH DEFINITIVE LIMITED ISSUANCE
There will only be a maximum of 10 million $WHALE ever created, with the launch value of each $WHALE being underpinned by a basket of some of the rarest and sought after Non-Fungible Tokens (NFTs) in the industry.
The Vault is only one dimension that defines the value of $WHALE as a Social Currency. More important to the project is the growth of the community, the growth of $WHALE as a brand, and the growth of use cases for $WHALE as a Social Currency.
Research DAOs
Research DAO was created with the goal of funding open, transparent, academically-reviewed research into the theory and application of blockchain technology.
Following a vision towards openness, transparency, and decentralization, the Research DAO was created to fulfill its research objectives. As a Decentralized Autonomous Organization, the Research DAO is independent and makes decisions based on its own mission. In addition to the initial funds provided by the Harmony treasury, the DAO is also funded by its own members to help steer the research directions that will benefit the community. We are also accepting proposals from other institutions that wish to become funding partners of the Research DAO.
Water & Music is the innovator’s guide to the music business, an independent newsletter anWater & Musicd research DAO, on a mission to empower music-industry professionals with the knowledge, network and skills to do more collaborative and progressive work with technology.
VitaDAO is a DAO collective for community-governed and decentralized drug development. Their core mission is the acceleration of research and development (R&D) in the longevity space and the extension of human life and healthspan. To achieve this, VitaDAO collectively funds and digitizes research in the form of IP-NFTs.
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Summary
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