DAO is made or designed to be a decentralized and automated organization. It functions as a sort of open-source venture capital fund, with no normal management structure or board of directors.
Consider them an internet-native business that their members collectively own and govern. They have built-in treasuries to which no one can have access without the group’s permission. Proposals and voting are used to make decisions, ensuring that everyone in the organization gets a say.
How do they work?
A DAO’s smart contract is its backbone. The contract establishes the organization’s norms and safeguards the group’s funds. No one can change the rules after the contract is live except by a vote. It will fail if someone tries to do something that isn’t covered by the code’s rules and logic. Furthermore, because the funds is also defined by the smart contract, no one can use the funds without everybody knowing about it.
What Makes it Different?
- For conventional organizations, it’s hierarchical. A DAO is flat and completely democratized.
- Changes can be required from a single party, or voting can be given, depending on the arrangement in a conventional organization, meanwhile in a DAO, any modification must be approved by a majority of members.
- Conventional organizations usually human intervention or centrally controlled automation, both of which are susceptive to manipulation.In a DAO, the supplied services are handled automatically and decentralized (for example distribution of philanthropic funds).
How Does This Relate to Keplerswap?
As we all know, Keplerswap’s token, $SDS(Seeds Token) is listing soon after months of hard work and consistency and there is so much potential about it. One of the privileges gotten as a holder of this token is the opportunity to be part of a DAO. This means that you get to have all these benefits listed above.