Break down of DAO landscape and its potential in Blockchain
One of the most popular topics in the blockchain space is the concept of DAO. However, the hidden problem lurking beneath the space is a rather blatant one: few people know what exactly is a decentralized organization, and what even makes something autonomous in the first place.
What is a DAO?
To begin, it stands for Decentralized Autonomous Organization.
A DAO is a commitment to share value with a community. DAOs often seek to:
- Provide members with a voice through governance.
- Flatten hierarchy and create fluid workstreams.
- Allocate resources to achieve a core mission.
A Telegram group with 10 members and 1 ETH is a DAO.
A DeFi protocol with $1B+ of assets governed on-chain by 10,000+ token holders is a DAO.
Regardless of size, DAOs look to solve core missions – evolving a group chat into a success-driven community.
Today, there are more than 100 DAOs managing over $10B in assets.
To the DAO contributors of the world – keep up the great work.
We’ve got a long way to go before DAOs have proven real traction at scale, but this snapshot should show that some of the world’s brightest minds are committed to making that happen.