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Last updated Jul 28, 2021 Edit Source

Communities organized around a shared set of rules enforced on the blockchain through a smart contract.

Source: A beginner’s guide to DAOs by Linda Xie

DAOs give us structured ways to collect, invest, and build together.

Inherently transparent, every aspect of the org is public.

The most infamous DAO, The DAO, was a decentralized VC fund. Eventually raised $150M but had $60M hacked, leaving a negative impression/skepticism around DAOs for a while.

Stable employment is possible through DAOs, Empty Set Dollar DAO is paying a $180k salary to their community manager

All members can still be anonymous and built reputations attached to their pseudonym rather than real identity, hopefully helps to create a more even playing field

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