Decentralized Autonomous Organization (DAO)

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Decentralized Autonomous Organization (DAOs) are large scale organizations that have no central authority or government. Rather, the body is controlled democratically by its shareholders through smart contracts and decisions are recorded on the blockchain. The most well-known of DAO’s is the DAO that formed on the Ethereum blockchain, and which was subsequently hacked, resulting in a loss of $50 million. 

A term that grew in popularity with the advent of blockchain networks, decentralized organizations do not have the typical structure of a corporate organization i.e. something that is pyramidal. In the DAO’s case, governance is chiefly conducted with the help of smart contracts. Besides bringing the benefits associated with decentralization - transparency, immutability, security etc. - DAOs are also cost effective and, through token economics, good at incentivizing users to participate. 

Several DAOs have already been formed, including projects themselves, such as Aragon, BitShares, Dash and Digix. The governance mechanisms on such platforms allow users to propose changes and vote on such changes. 

Given that that there is no one power controlling the network, and that decentralized networks belong to no nation state, there has been some discussion on the legal status of DAOs. It continues to stir debate.  


What is your opinion on the future of digital money, CeFi vs. DeFi, and governance models within organizations?

20 Jul 2019 1 minute read 4 comments Mark Anstead

I was recently able to come chat with Steve McGarry on his podcast talking about what a DAO is, it's pros & cons, the future of money, and the implication and tech behind the ERC-1484 EIP. Go give it a listen! Spotify - https://spoti.fi/2Z1XBrZ Itune...

Aragon works perfectly on mobile!

22 Apr 2019 1 minute read 3 comments dmi3in

Can’t wait to share my excitement about Aragon 0.7 Bella 😍😍😍Now works on mobile perfectly! Actually lack of mobile version was stopping us from building DAO.  Here's short video about it (can't embed here video from facebook) If you'd like to joi...

The Magic Behind MakerDAO

11 Mar 2019 2 minute read 2 comments jeffthebaker

Last post I wrote, I gave an introduction to Decentralized Autonomous Organizations with a special emphasis on MakerDAO (which is, in my opinion, the best DAO on the market). There was a lot of information crammed into that post, so below I will writ...

Decentralized Autonomous Organizations and MakerDAO

7 Mar 2019 3 minute read 8 comments jeffthebaker

The potential applications of cryptocurrency and blockchain tech are numerous, and as the space continues to grow, so to does the number of possibilities that are floated around. Naturally, some of these use cases are more legitimate and impactful th...

Whatever Happened To The METAMASK Coin...

10 Apr 2023 1 minute read 8 comments CodyMac50

Metamask is the very well known Ethereum wallet that has been around for quite some time. When I heard they were thinking about their own crypto and DAO, I was excited...but that was about a year ago. Looking back, I remember another project promisin...

Upcoming changes

22 Mar 2022 1 minute read 0 comments icarus.finance

Hello Icarians, The team would like to announce some preparations are about to be implemented on the tokenomics of icarus.finance protocol.   Check the full article here: https://icarus-finance.medium.com/upcoming-changes-e7ec216de6b0 

Sommelier, the finest Wine in your Cellar?

1 Feb 2022 1 minute read 0 comments It's Lexy

Hello everyone, I just had some wine Bottles.... Uhhm I mean.. $SOMM Tokens in my wallet from an airdrop of this project I didn't know anything about. So I went to the Cellars and looked at my Bottles and Infographics to bring you some good Informati...

How to participate in the ICON DAO airdrop?

27 Dec 2021 1 minute read 0 comments IddCrypto

ICON (ICX) will bring a new application hub to its ecosystem. As already announced, whoever owns the ICX coin will be entitled to this release. How will it be or how to be eligible? It will be sent 1:1 to anyone who has the token in the HANA wallet,...

Learn about The Sandbox & earn 10 $SAND - CoinMarketCap Earn

7 Sep 2021 1 minute read 0 comments wantumeni

The Sandbox "Learn & Earn" Campaign will run from September 6th to October 6th. What is The Sandbox? The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the...

Project Catalyst Winner - Gimbalabs

10 Feb 2021 1 minute read 0 comments Cryptotexty

Previous conversation with James: https://www.youtube.com/watch?v=MlYfbGJSIxo&t=0s ​Project Catalyst: https://cardano.ideascale.com/​ Gimbalabs site: https://gimbalabs.com/​ Gimbalabs discord: https://discord.com/invite/dErH6vS