The Age of Communities: Understanding DAOs
DAO is an organizational structure governed collectively by a community. It uses Ethereum smart contracts to define rules and carry out collective decisions, often relying on governance tokens for proposals and voting. Its uses extend from DeFi protocols to media, public funds, and community collaboration.
How DAOs Work
DAO is a decentralized autonomous organization governed by a community rather than a traditional management team. Its basic rules are written into Ethereum smart contracts, and decisions are executed according to those rules. Smart contracts can perform some of the management functions found in a company or nonprofit, making the organization more dependent on public rules and member collaboration.
Proposals and Token Voting
Members who meet a token-holding threshold can usually propose protocol changes, which may concern technical parameters or personnel governance. Once a proposal meets the required conditions, governance-token holders vote for or against it. Most DAOs also impose a quorum requirement, although the exact thresholds and checks and balances differ.
From DeFi to Broader Collaboration
Many DeFi applications are managed by DAOs. For example, MKR holders in MakerDAO can vote on changes to the DAI protocol. DAOs are also used for media organizations, public funds, social clubs, and collective bidding, enabling geographically dispersed people to pool funds and make decisions around shared goals.
Original tutorial
https://learn.metamask.io/zh-CN/lessons/the-age-of-communities
Mark it complete when you understand it.
Opening a lesson does not complete it automatically. You can change its status at any time.