Decentralized Autonomous Organization

Last Updated: 26th June 2023

A DAO is an organization that uses open-source smart contract codes to automate and facilitate decision-making. Using a DAO may help prevent human error or manipulation since the decision power is no longer in the hands of a few trusted people. Rather, it is automated distributively and written as an immutable code deployed on the blockchain. Using a DAO is not risk-free: Recall the DAO project where coding errors led to $50 million of funds being lost.

DAOs on Tezos