DAOs

f you’re starting an organization in web3, chances are you have a lot of questions: How can a startup work directly with investors on a global level? Are there ways not to sacrifice transparency? That’s where DAOs come into play.

By setting up a DAO you can create an organization where communities have collective ownership of a particular blockchain project. Each person focuses on what they do best and trusts that everyone else is doing the same. There are many types of DAOs and the beauty of them is that they can be pretty much anything —structurally— and it’s not just about revenue. The possibilities are endless.

With the recent rise of DAOs, there’s a need for solutions that meet the ever-growing list of challenges; that’s where a suite of customized DAO tools comes into play.

Though DAOs have been around for less than a decade the DAO tooling ecosystem has come a long way. From collective treasury management to data science and smart contract development, there are various protocols and tools that make DAOs’ lives easier.

With the genesis of Web3 comes a new way for organizations to govern themselves while bestowing power to community members. Enter, the DAO. beginning in 2016, DAOs have been used to manage funds, and establish community-driven organizations for Web3 projects.