DAOs (Decentralized Autonomous Organizations) What is a DAO? A DAO is an organization that operates through rules encoded as computer programs (smart contracts) on a blockchain. It’s decentralized, meaning no single entity has control, and autonomous, running automatically according to the coded rules without central management. In simpler terms, DAOs are organizations governed by code and community consensus rather than traditional hierarchical leadership. Key Characteristics of DAOs Decentralized governance: Decisions are made collectively by token holders or members rather than executives or boards. Transparent rules: Smart contracts execute the organization's rules automatically and transparently on the blockchain. Autonomy: Once deployed, DAOs operate with minimal human intervention. Permissionless participation: Anyone meeting requirements (like owning governance tokens) can join and vote. Token-based voting: Members usually have voting power proport...