Glossary definition
DAO
A DAO is an organization whose membership, decision process, treasury, or execution rules are coordinated partly through blockchain-based systems.
DAO is a decentralized autonomous organization in which decisions are not made by a CEO. DAOs are typically owned and managed collectively by their members. They often have built-in treasuries whose assets cannot be accessed without the approval required by the DAO’s rules. Governance is commonly enabled through tokens or NFTs, and decisions go through a process of proposal and voting.
Well-known examples include:
- Uniswap DAO
- Aave DAO
- MakerDAO
- Nouns DAO