tweet me @_Sarah_Du with more thoughts, questions, & resources
What exactly is a DAO? Here are 5 of my favorite definitions, in no particular order:
- According to Vitalik Buterin in “DAOs, DACs, DAs and More”, DAOs == automation at the center, humans at the edges.
- A socio-economic definition by Mario Laul: DAOs can be defined as organizations that combine automation (via distributed computer networks and smart contracts) with crypto-economic incentives (via tokens stored in distributed ledgers) and human collaboration (mostly online, relying on both crypto-native and traditional web-based coordination tools).
- The essence as captured by Coopah: “DAOs are internet communities with a shared cap table and bank account, a commitment to share value with a community.”
- Two conditions a DAO must meet from Spencer (h/t @DaoHaus for sharing)
- all members have at least some direct control over the org’s assets and actions
- nobody other than the members can shut it down
- This analogy by Peter comparing a DAO to a tech startup:
- instead of applying for a job, you join the startup’s Slack with one click.
- you can work via bounties or teams. Bounties = a massive JIRA board. Team = a slack channel where you can volunteer to do something / see what other people are working on.
- others can submit proposals for you to get paid.
- DAOs as a framework/ethos (of a well functioning community)
- DAOs enabling more independent careers, allowing us to “open-source ourselves as workers”