What is a DAO?

May 20, 2021 1 min read
What is a DAO?

A DAO, or a Decentralised Autonomous Organisation, is basically a new way of how communities can come together to create and share value on the internet, while being rooted in the ideals of decentralisation and democracy. The organisation itself, ideally, works on rules that are transparently encoded on an open platform (such as a blockchain), as opposed to being influenced by a central power such as a government.

Stake DAO itself is a great example, where the initial efforts were the result of a core contributors’ group, yet the major decisions for the protocol will be gradually led by its community. In terms of ongoing and further development, DAO members are free to participate and make new contributions.

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