Have you heard the latest organisational buzzword - DAO.
You are likely thinking - WTF is a DAO?
To begin, it stands for Decentralized Autonomous Organization.
It's a very popular way for cryptocurrency communities and companies to organise. However, it has broader application beyond that space.
The definition of a DAO is varied.
Here are three:
A decentralized autonomous organization (DAO) is a group organized around a mission that coordinates through a shared set of rules enforced on a blockchain.
DAOs are internet communities with a shared cap table and bank account.
A group chat and a bank account.
You are still probably thinking WTF is a DAO?
Well rather than create a new definition, let me curate.
Here is a collection of resources I've found helpful in understanding exactly what a DAO is.
What are DAOs?
These five resources will answer the most common questions. They'll explore what is a DAO, how do DAO's work and what problems DAO's aim to solve.
What are some DAO examples?
There's no better way to understand an idea than with examples.
This visual by @coopahtroopa provides the current DAO Landscape.
Image by @coopahtroopa
Here are 5 resources that dive into these DAOs:
A great way to learn is by joining a DAO.
AAVE is well-established DAO where you can see all the mechanics in action and get involved. For example, you can view and vote on governance proposals.
Start by joining the AAVE discord 💬
How do I start a DAO?
Once you understand the power of a DAO you'll likely want to start your own.
Here are a few resources about how to start a DAO:
What tools are used in a DAO?
DAO Landscape by Coopatroopha includes:
Gnosis Safe - Multisig wallets are commonly used to manage community treasuries.
Snapshot - Off-chain voting platform for easy token-based governance.
Discourse - Forum commonly used to discuss governance proposals.
CollabLand - Bots providing token-gated access and tipping to community chat groups.
Coordinape - Coordination game to determine which contributors(s) deserve token rewards.
Parcel - Treasury management to easily track and send payments.
SourceCred - Instance to track community participation and reward active members.
Mirror - Finance creative projects through tokenized crowdfunds.
Tally - Governance dashboard to track on-chain voting history across different protocols.
Boardroom - Governance hub for token holder management to empower key decision making.
Sybil - Create and track on-chain governance delegation.
RabbitHole - Reward tokens for completing specific on-chain tasks.
Who should I follow?
I've curated a list on Twitter with the authors of these articles and more.