Anyone can start a DAO. It does not have a top-down hierarchy. It is inclusive and open for everyone to participate. – Misha
2022 will be the year of the DAO. Everyone will be starting or joining one. Here’s what you need to know:
1. What is a DAO? DAO stands for Decentralized Autonomous Organization. It is a web3 structure for a business or organization.
3. How does it work? The rules of the DAO are all coded in smart contracts and open source. What the organization does is fully transparent. Decisions are made through grassroots voting of DAO members.
8. DAO Infrastructure 2 1. The initial team starts on Discord 2. Distribute DAO-specific tokens to members 3. Do governance using Paladin 4. Funds from grants, token sale, or member dues can be managed by MultiSafe 5. Members working for the DAO compensated via Disperse
9. Challenges a. Onboarding. DAOs need to be more accessible to non-cryptos and non-developers. b. Voting governance can be improved. c. Measuring and compensating member contributions needs improvement. d. The legal and regulatory status of DAOs is yet to be clarified.
15. DAOs are the Future of Work and Community It’s still early days, but DAOs will become the way we all work, socialize and connect. It’s not too soon to get learning about them.
I write about how to live your best life in web3 and the future. Follow me @MishadaVinci for more.