واژهنامه
DAO (Decentralized Autonomous Organization)
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A DAO (Decentralized Autonomous Organization) is an organization whose rules and governance are encoded in smart contracts on a blockchain. There is no central management — decisions are made by token holders voting on proposals, and outcomes are automatically executed by the code.
How a DAO works
- Rules are written into smart contracts and deployed on a blockchain
- Members acquire governance tokens (voting rights)
- Any member can submit a proposal (e.g., spend treasury funds, change a protocol parameter)
- Token holders vote; if quorum and threshold are met, the contract executes the decision automatically
- All votes and actions are publicly visible on-chain
Examples
- Protocol DAOs — govern DeFi protocols (e.g., Uniswap, Compound)
- Investment DAOs — pool funds to invest collectively
- Mining pool DAOs — community-governed pools
Risks
- Smart contract bugs — a flaw in the governance contract can be exploited (the 2016 "The DAO" hack drained $60M)
- Voter apathy — most token holders don't vote, concentrating power in large holders
- Regulatory uncertainty — legal status of DAOs varies by jurisdiction
