What is a DAO?

A DAO is an organization that is owned and managed by its members. DAOs can be created for a variety of purposes, such as funding projects, managing shared assets, or operating decentralized businesses. They reimagine cooperation on the internet by enabling people to build toward specific goals together in a fully decentralized and transparent way.

DAOs can manage a shared treasury, hold votes, and even hire if needed. The rules of DAOs are enforced by smart contracts on a blockchain, ensuring consistent application. DAOs are highly transparent because their actions on the blockchain are recorded permanently and openly viewable.