1. What Is a DAO?
A DAO, or Decentralized Autonomous Organization, operates through smart contracts and token voting without a central administrator.
2. How It Works
- Governance token holders submit proposals.
- They vote in proportion to their token holdings.
- When a proposal passes, the smart contract executes automatically.
3. Notable DAOs
- MakerDAO — Manages the DAI stablecoin.
- Uniswap DAO — Governs the DEX protocol.
- Aave DAO — Manages the lending protocol.
- Lido DAO — Governs liquid staking.
- ConstitutionDAO — Attempted to purchase a copy of the U.S. Constitution.
4. How to Participate in a DAO
📊 Participation Steps
1. Buy governance tokens, such as UNI or AAVE.
2. Review proposals on Snapshot or Tally.
3. Connect your wallet and vote.
4. Join discussions in the forum.