What is a dao & how does it work?

A DAO is an organization represented by rules encoded as a computer program that is transparent and controlled by the organization members, not by a centralized authority. It is a key example of the democratization possibilities that blockchain technology brings to the table.

What is a DAO (decentralized autonomous organization)?

DAO stands for decentralized autonomous organization. That’s a mouthful. What does it mean? A DAO (pronounced dow) is a new kind of organizational structure, built with blockchain technology, that is often described as a sort of crypto co-op. (Or, alternatively, as a “financial flash mob” or a “group chat with a bank account.”)

When did Dao start?

Although the term may be traced back to the 1990s, it was not until 2013 that it became more widely adopted. Although some argue that Bitcoin was the first DAO, the term is only understood today as organizations deployed as smart contracts on top of an existing blockchain network.

What is a large Dao token?

Another example of a large DAO token is the Lido DAO token (LDO). Lido is a liquid staking solution for ETH 2.0, allowing users to earn staking rewards without locking up their assets. LDO is used to vote on protocol decisions, and it's part of the broader Ethereum ecosystem, providing insights into the DeFi community's sentiment and expectations.