What is DAOs?
Decentralized autonomous organizations, or DAOs, have no company HQ, replace traditional hierarchies with flat management structures, are governed by crypto holders, and are built on rules that are automatically enforced on a blockchain.
How do DAOs work?
A community can adapt a DAO and program it according to its own goals.
👩💻 Code is written in the form of smart contracts, which provides some sort of governance mechanism. 🗳️ Members typically use governance tokens to vote on decisions made by the DAO, such as the allocation of funds. 📊 In the case of many DAOs, the impact of a member's vote can increase based on the amount they have contributed to the project. 💪 The outcome can be based on the degree of participation as well as voting preference.
Types of DAOs
- General DAOs: Olympus, Grape Protocol
- Investment DAOs: FWB, The LAO, CityDAO, Syndicate
- Service DAOs: Party DAO, RaidGuild, DAOHaus, Yam Finance
- Protocol DAOs: Sushiswap, MakerDAO
- Collector DAOs: Lobster DAO, Constitution DAO, Meebits DAO, PleasrDAO, Fingerprints DAO, Squiggle DAO
- Gaming DAOs: YGG
- Media DAOs: DarkStar, Forefront, Bankless
- University DAOs: Lion DAO
- Learning DAOs: Odyssey, Invisible College
- Climate DAOs: Klima
DAOs I'm currently part of
Being a beginner, I preferred joining learning DAOs. These DAOs aims in making quality web3 education with a goal to create quality "explain like I'm five" learning paths backed by a thriving community. One can easily join these DAOs using discord server link and can contribute as a developer as well as content creator. So the DAOs, I'm part of are:
Odyssey DAO
Gitcoin DAO
Invisible College
All of the above mentioned DAOs are super active and the community is very supportive. Looking forward to learn and work with these communities.