Internet
dao
What does dao mean?
A Decentralised Autonomous Organisation is a community-run entity whose rules and treasury are managed on-chain, with decisions made by token-holder voting rather than centralised management.
"The DAO voted to fund three new grants this quarter."
Origin
Ethereum-era concept; the term gained fame with 'The DAO' in 2016.
Frequently asked questions
What is a DAO?
A DAO is a decentralised autonomous organisation — a community-run entity whose rules and treasury are governed on-chain by token-holder voting.
How does a DAO make decisions?
Members vote on proposals with governance tokens, and the outcome is executed according to the organisation's on-chain rules rather than by a central boss.
What was 'The DAO'?
'The DAO' was a famous 2016 Ethereum-based venture fund that was hacked, an event that helped popularise the term and led to a major network fork.
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