Skip to content

**** ****

桃李满天下

Doggy DAO

A DAO is a decentralized autonomous organization. How a DAO works:

  • People write the smart contracts that will run the organization.
  • There is a period of initial funding called an initial coin offering ICO. (people add funds to the DAO by purchasing tokens representing ownership)
  • The DAO begins to operate after the ICO.
  • People then make proposals to the DAO on how to spend the money.
  • Token owners vote to approve these proposals.

For example: You have purchased a token with a very high circulating supply that belongs to a decentralized ecosystem. That ecosystem also includes a governance token. Once the supply of these governance tokens have been offered and purchased, they provides their owners the ability to vote on future proposals.

The more governance tokens you own the more weight your vote will carry when voting on these future proposals. To truly be decentralized it is important that a large number of people hold governance tokens and get to vote. A token with a very high circulating supply gives access to a large number of potential owners.

What kind of future proposals could there be to vote on? That is up to the people and proposals they create.

Burn



Leave a Reply

Your email address will not be published.