The Origin of DAOs, Where Did They Start, Which Are the Best and Why?

The Origin & Evolution of DAOs 

Since their introduction in 2016, DAOs have enabled new experiments on human coordination and organization, mainly because they’re an effective way to work with like-minded people from all over the world. Currently, DAOs are changing how talent works and receive compensation. But how did such an organization and governance phenomenon happen? What’s the story behind the 10.7 Billion USD currently locked in treasury by existing DAOs?

In this article, we trace the origin of DAOs and their history to date. We also look at some of the top DAOs and why they are doing so well. 

The Origin of DAOs, Where did They Start, Which are the Best and Why?
The Origin of DAOs, Where did They Start, Which are the Best and Why? Image by liuzishan on Freepik

What is a DAO?

DAOs are crypto-native organizations that use blockchain technology and tools to coordinate work and governance of their shared mission and resources. A common meme concept of DAOs is a group chat with a shared crypto wallet. They are also a set of coded rules that govern a digital community. DAOs differ from traditional organizations managed by boards and bureaucratic executives.  Instead, DAOs are:

  • Self-governed: Smart contracts enforce DAO rules. 
  • Organized: DAOs consist of individuals associating and coordinating activities for specific purposes. 
  • Decentralized: There is no hierarchy, the community owns and governs the DAO.

DAOs are bridging the gap between coordinators and contributors in the creator space. There are no restrictions on who can join the community, that’s because no one cares about your ethnicity, nationality, location, etc. This freedom of participation has increased DAO search results over the years. People became curious about how they work, how to onboard new members, and member benefits. As a result, DAO members grew from 13,000 to 1.7 million in 2021, with 3.8M token holders at the time of writing. That’s impressive for an ecosystem that is about six years old!

Many people first learned about DAOs through ConstitutionDAO, which tried buying the U.S. Constitution in November 2021. But DAOs date back to 2016 when the Ethereum community created the first known DAO, called The DAO. The DAO raised about 12.7M Ether (150M USD at the time, or 44.4B USD in today’s valuation) from more than 11,000 investors for grants and funding, making history as one of the world’s largest funding campaigns. Unfortunately, a hacker stole 3.64 million Ether (28% of The DAO funds) a month after its launch. Some also argue that the Bitcoin network is the first DAO. However, Bitcoin is a blockchain, not an organization coordinated by self-enforcing code.

Origin of DAOs

The DAO concept was first talked about in 1997, but the conversation was well ahead of its time. Some Bitcoin users coined Decentralized Autonomous Corporation (DAC) a decade later, referring to the DAC concept in online forums and chats as the modern meaning of DAOs. However, DAC was later abandoned because it resembled the traditional governance model. Only in 2013 did the term “DAO” become mainstream and discussed (D. Larimer, Vitalik).

The following year, Vitalik continued his discussion on DAOs. In one article, he described DAOs as “entities existing autonomously on the internet, but also heavily relying on hiring individuals to perform certain tasks that automation cannot do.” But it wasn’t until two years later that the crypto community created the first-ever DAO. As the community named it, The DAO was a community-directed venture capital organization whose goal was to allow people to pitch ideas to the community and receive funding. In addition, by removing power from executives and putting it in the hands of the community, The DAO hoped to reduce the misdirection of investor funds. To ensure they fulfilled their goal, The DAO did not hold investors’ money. Instead, the investors owned DAO tokens.

Holding the tokens allowed them to vote on the submitted business ideas. At the same time, “stewards” vet each project before adding them to the list. The DAO claimed transparency because its smart contracts handled everything and added that anyone could audit their smart contracts. However, unnoticed vulnerabilities in The DAO’s code and its rapid launch affected the organization in ways that weren’t clear until after the attack.

Less than three months after its launch, a hacker stole about 70 million USD in ether. The hack caused an Ethereum blockchain hard fork that set the DAO space years back and ushered in a crypto bear market. The DAO hack also raised legitimate concerns about accountabilities in DAOs, handling liability for losses, and correcting code flaws.

When the Ethereum community conceived the DAO, its goal was to develop a decentralized infrastructure for Ethereum’s nascent ecosystem. Of course, few would agree it was successful in doing that. But two and half years later, in what many call the year of DAOs, DAOs like MakerDAO and Gitcoin built systems, protocols, and platforms using the same infrastructure.

Today, there are over 4831 DAOs across six main categories:

  • Protocol DAOs
  • Grant DAOs
  • Social DAOs
  • Collector DAOs
  • Venture DAOs
  • Media DAOs.

There are about 1.5M active voters & proposal makers spread out and working together all around the globe. Out of all these DAOs, which ones are the most successful, what makes them stand out, and why? Let’s explore below.

Notable & Successful DAOs

Currently, many exciting DAOs are doing great work in the space. Their core concept is fascinating—an intersection of economics, blockchain, and human interaction to create new working experiences. 2019 was the year of DAOs: we saw DAOs spring up with various new concepts, tooling, and incentive mechanisms. From then to date, many NFT, DeFi, grant, and social DAOs have successfully launched products for millions worldwide. Some of these DAOs include:

Aave DAO

Aave is a DeFi project where users can provide liquidity (deposit) or borrow overcollateralized or undercollateralized loans. AaveDAO manages the protocol’s affairs using a unique governance mechanism. The Aave ecosystem consists of two parts:

  • The Protocol: Aave software supports the creation of liquidity pools for any token. The pools allow users to borrow or lend about 36 tokens, including ETH, MANA, CRV, MKR, and ENS. 
  • Aave Grants DAO: This is Aave’s community-led grants program for funding ideas presented by the protocol’s developers. You can find the community discussion that created the grants program here

Aave Governance

The Aave Protocol is a community-managed ecosystem governed by about 142,000 token holders. Governance starts when a member posts an ARC (Aave Request for Comments) on Aave’s discourse, where community members read and share their opinions about the ARC. 

If the general critique is positive, the proposer moves forward by creating an Aave Improvement Proposal (AIP). After this step, the user can publish the AIP on Aave’s GitHub by forking the AIP repository. While doing so, the user must follow the recommended formatting and include a discussions-to header with the URL or open a GitHub issue where members can debate and review the AIP for the final time. Voting commences soon after, during which the AIP must get various positive votes before execution.

The variation depends on the number of support for/against an AIP. Assuming few votes are for the AIP, the benchmark remains the same. But, if the proposal’s votes exceed, it moves up to create more time for potential negative votes and vice-versa. This change in voting dynamics ensures the AIP has sufficient support before implementation.

Aragon DAO

Aragon (also known as Aragon Network) acts as a “digital jurisdiction” for entrepreneurs building businesses without legal connections. Anyone can build a DAO on Aragon’s open-source infrastructure with their easy-to-use governance plugins. Founded in 2016, Aragon boasts an impressive:

  • +300M USD value locked in Aragon DAOs
  • +200M USD in their treasury 
  • +3,800 DAOs built with their infrastructure
  • And +300,000 members in Aragon DAOs. 

Part of Aragon’s infrastructure includes:

  1. Aragon App: This is where the magic happens, and it contains:
  • An SDK which delivers a clean, up-to-date developer interface and sandbox for testing 
  • Simple-to-use smart contracts 
  • A design system where the user can design their modules.

2. Aragon Client: Daily, communities use Aragon to raise, manage funds, and reward contributors. 

3. Aragon Voice: A gasless voting solution where users can create and manage proposals. 

4. Vocdoni: A secure voting protocol for organizing voting procedures: single-choice and weighted. 

Recently, Aragon DAO highlighted its updated governance frameworks and mechanisms to further the project. The updates are the first steps to decentralizing Aragon’s governance – using a leaner and secure delegate voting model. 

In the new model, there are three mechanisms for coordinating DAO governance:

  • Rules are default governance settings enforced by DAO smart contracts. They prioritize security, making them difficult to amend or edit. Additionally, rules are the principles on which the DAO stands on, while guilds can iterate guidelines and practices.
  • Guidelines are the “operational standards” for Aragon DAOs enforced by ANT token voters. Guidelines are introduced by workstreams and guilds, endorsed by delegates, and finally voted for by ANT holders. Note that the DAO cannot execute guidelines with code. They are automatically enforced when voters and delegates support them.
  • Practices: As mentioned above, practices are open for iterations. Guilds are free to experiment and decide on how they work. By doing so, guilds’ working culture innovates and expands outside the guidelines voted in by the delegates. Then, as Aragon DAO matures, the most successful guild practices may be informally adopted as guidelines. 

BanklessDAO

Bankless founders Ryan Sean Adams and David Hoffman launched Bankless Media in 2020. The mission was to teach people about the “alternative open money systems available in DeFi and crypto.” Since then, Bankless has evolved into a global anti-centralized finance movement. Currently, it boasts a content studio supported by over 200,000 subscribers and a DAO with over 7000 contributors. 

In May 2021, Bankless founders launched the DAO with a principal long-term goal “To drive adoption and awareness of Bankless money systems through the creation and propagation of Bankless media, culture, and education.” 

Although BanklessDAO and its founders’ company share the same name, DAO members control the DAO’s affairs.

How BanklessDAO works

BANK holders govern BanklessDAO by creating and voting on treasury management and governance-related proposals. The DAO has working groups, a grants committee, and 14 guilds. Each guild focuses on different skill sets and has its own multi-signature (multi-sig) wallet. 

Proposals 

Members must first introduce a proposal to the relevant Discord channel for feedback. If the feedback is positive, it moves forward for further discussion. Then, members form a scope squad to find the proposal supporters from various guilds. The scoped proposal is then submitted for a Forum discussion and vote for at least seven days. If the Forum vote passes, the Grants Committee reviews it for completeness and submits it for voting on the BanklessDAO Snapshot. Finally, a majority vote of 50% decides the proposal’s implementation.

CompoundDAO

Most of us discovered Compound Finance during the “DeFi Summer of 2020”. Then, Compound was DeFi’s new darling, and users speculated that the protocol would eventually dethrone MakerDAO as the king of DeFi. The speculation and popularity were caused by Compound’s similar but more flexible and novel asset borrowing and lending mechanism—yield farming. Compound and other protocols are alike because they operate in the same DeFi space. But there’s a slight difference: lenders and borrowers can borrow from the protocol and either earn or pay an interest rate based on the asset’s supply and demand (ETH, for example).  

COMP holders decide the Compound’s affairs by creating and voting on submitted proposals. Creating a proposal involves locking/staking COMP (100 at the time of writing). This action creates Compound Autonomous Proposals, pre-proposals waiting for members’ engagement, and enough transferred COMP to become formal projects. 

But, the author must own at least 25,000 COMP tokens in their wallet before a CAP is eligible for voting. Additionally, the 25,000 COMP must stay at the address throughout the proposal presentation and selection period.

Voting

Members vote on Compound’s Governance module during a three-day voting window. During the voting, each proposal must get at least 400,000 positive votes to be added to the Compound Timelock contract with a two-day waiting period. After that, any member can execute the proposal. 

This is because the submissions are actual code, not ideas for Compound’s team. Additionally, each proposal can have up to 10 actions, i.e., function calls the code executes. Finally, only the Pause Guardian – Compound’s Multisig can cancel proposals not yet implemented.

Friends with Benefits (FWB)

Many consider Friends with Benefits as the first social and NFT membership DAO. It might not be the largest, but it has over 3000 members contributing worldwide. These members work to make web3 more accessible to other communities, and they fulfill this mission by: 

  • Holding FWB tokens to manage and fund the community 
  • Building spaces that increase contributor’s creativity
  • Developing tools, artworks, and products showcasing Web3’s potential.

In October 2021, investors valued FWB at 100M USD during a funding round. Following the evaluation, investors such as a16z invested 10M USD into FWB. That said, FWB started the previous year as a Discord server people could only access with the FWB token. To join FWB, aspiring members must apply with a written request, which FWB stakeholders review and decide whether to accept. Additionally, joining Friends with Benefits requires owning a minimum amount of FWB. With 75 FWB tokens, anyone can become a global member, gaining unrestricted access to the FWB ecosystem. They may also become a local member by holding 5 FWB tokens, which grants them restricted access to FWB towns and activities.

All preliminary governance discussions take place on FWB Discord. Anyone could start a conversation about a potential proposal to gauge community sentiment. The next step would be to create a google doc for the proposal, which the proposal committee reviews before the community votes. Votes on FWB DAO proposals last for at least three days on the Friends With Benefit Snapshot. Each proposal must receive more than 50% positive votes before the respective team or author implements it. Members can also delegate their tokens to other members.

Gitcoin

The internet unlocked unlimited avenues for creation and collaboration for everyone, especially project founders. Novel technologies like blockchain and open-source software have enabled business owners to start and scale their business activities. But as open source is free to use, contributing developers are paid very little for their efforts with little recognition. To overcome this problem, developers must receive financial grants and incentives before working on their projects. 

Gitcoin uses blockchain technology to advance open-source software development. Since its launch in 2017, the protocol has been creating and funding public goods projects. But then, Gitcoin is very different from its competitors and counterparts because of its unique funding approach. This uniqueness is evident in their whitepaper where they unveiled Quadratic Funding—a patented, democratic method of funding public goods projects with crypto. 

Gitcoin’s quadratic funding is structured so that individual donations get matched with equivalent amounts of funding from large funds donated by bigger donors. The “secret” behind the mechanism is the math which amplifies the (smaller) donations from larger communities over that of a smaller group with large contributions.

Below is a clarifying example:

Let’s say we have four grants in a 1,000 USD matching round. Grant A raises ten dollars from ten donors, while Grant B raises ten dollars from one contributor. Grant A will get more of the available funds. 

Why? Because a broader community supports it, Gitcoin’s quadratic funding recognizes it is a promising project with better potential, therefore, prohibiting whales from controlling projects in the ecosystem. Apart from funding projects, Gitcoin also hosts bounties where developers and content creators can support projects with their skills and receive crypto compensation. As of February 2022, Gitcoin has disbursed about 60M USD to projects. Additionally, it has paid out 3.5M USD to developer and content creator bounty hunters worldwide.

Now, how does Gitcoin decide where to allocate its resources? It does that through the Gitcoin DAO and GTC (its native token) holders. GTC is an ERC-20 token that gives owners voting rights equivalent to the amount of GTC they hold. For more decentralized governance, Gitcoin introduced Gitcoin Stewards, which are community members responsible for setting Gitcoin Grants policies. Stewardship is an active role that also involves participating in forum discussions, casting on-chain votes, and regularly attending community calls. Note that anyone can become a steward and that GTC holders can delegate their voting rights to community stewards to vote on their behalf. 

GnosisDAO

GnosisDAO manages Gnosis – a prediction market platform on Ethereum’s ecosystem. Prediction markets are like marketplaces or exchanges. The difference is that users predict market event outcomes instead of trading assets. Gnosis’ 2015 launch was focused on building prediction markets for investors. The launch was successful but it soon became clear that the platform needed community support. Hence, Gnosis Limited created GnosisDAO to manage Gnosis’s development and governance. Gnosis Limited also relinquished DAO control and gave 150K ETH and 8 million GNO tokens to the GnosisDAO community.

Some of the first proposals on GnosisDAO were distributing GNO to active participants, creating Gnosis Protocol, and introducing a governance token for SAFE. Governance happens in the GnosisDAO category of the Gnosis Forum. There, any member can submit a Gnosis Improvement Proposal (GIP) on the forum, but it must pass through these three phases:

  • Phase 1: The community reviews proposals with feedback before opening a formal poll
  • Phase 2: Validated proposals get posted
  • Phase 3: This is the final phase which opens proposals to voting with GNO tokens.

Note that proposals must get at least a yes-voting of 4% for acceptance into the final phase. Also, note that the Gnosis protocol estimates the price impact on GNO IF the community implements the proposal. Therefore, this price impact also affects whether the community accepts and implements the changes.

MakerDAO 

MakerDAO is a DAO, like the others. What sets it apart is that it is one of the few OG DAOs to start and get it right. The “Central Bank of Crypto,” MakerDAO, is a DeFi protocol launched in 2017. The DAO uses the Maker Protocol to manage the generation and usage of DAI. DAI is an asset-backed crypto whose value is pegged to the US dollar. Crypto investors use it to survive volatile market conditions and provide liquidity on DeFi protocols. 

To receive DAI, Maker users lock some collateral in Maker’s smart contracts. The network mints DAI equivalent to the deposited collateral, which the borrower repays later with a stability fee. If the collateral’s value falls below the liquidation ratio, the network sells it to recover the issued DAI. Additionally, MakerDAO has liquidation strategies that limit the likelihood of a black swan incident.

Governance

MakerDAO is managed by MKR holders who vote on updates to loan risk parameters, deposit options, stability fees, and DAI policies. By burning or issuing more MKR tokens, MKR holders can also impact DAI’s overall circulation.

Participating in Maker Updates

Before any update on Maker Protocol, members start with off-chain discussions on Maker’s Forum. The next phase involves conducting surveys and executive votes, which lead to on-chain votes.

The following are the two ways to vote:

  • Delegate your voting power:

This voting option is like Aave’s, where MakerDAO members can give their voting power to other members (s). The option is convenient for users who don’t want to vote or pay gas fees. That said, the delegates do not have access to the delegated tokens. 

  • Manual Voting:

This option is for users who prefer to vote manually. To vote, a user has to find the proposal that interests them and vote on it by sending MKR to the voting contract. The deposited tokens are withdrawable anytime. They also help contribute to the protocol’s robust security against governance attacks. 

Apart from the voting method, MKR holders oversee other governance mechanisms:

  • Governance Facilitators: Facilitators are trusted stewards who can post governance polls on the Maker governance portal.
  • Emergency Shutdown Module (EMS): EMS enables MKR holders to shut down the Maker protocol during hacks or long-term market volatility. Users must deposit and burn 50-100k MKR in the EMS to complete a successful shutdown. Once burnt, the system shut down and rebooted.  EMS is intended as a last option to safeguard Maker from threats and bad actors.

Over four hundred dApps and services are already functioning and using DAI on Maker, indicating MakerDAO has a large and still growing community. Interestingly, MakerDAO is the longest active Ethereum-based DeFi protocol DAO.

MolochDAO

MolochDAO is one of the first grant-giving DAOs to exist. Those present at the 2019 ETHDenver witnessed Moloch’s summoning. However, before its creation, only a few projects worked on the DAO model. The hack backed the DAO concept, but Ameen Soleimani (working at Consensys then) was not discouraged by the traumatic incident. Armed with the experience from both situations, Ameen created MolochDAO, a minimum viable DAO, i.e., a DAO with few lines of code to reduce hack risks. 

Moloch, the prefix in “MolochDAO”, is the name of a deity that tricks people with prosperity at the expense of unnecessary suffering. The name is not a celebration of the deity. Rather, it acknowledges that Moloch still exists despite our human advancements. MolochDAO sees blockchain technology as a tool for defeating this evil. 

This is why since its launch, MolochDAO has financed projects like

  •  Really Boring Guild
  • DApp Node
  • Ethereum Cat Herders
  • Tornado Cash
  • Clr.fund, and others with about 1.4m USD in grants

It has also funded reports like the State of Eth2.0 (2019), State of the Mixers (2019), State of Optimistic Rollup (Feb 2020), and Eth2.0 Economic Review (July 2020). Finally, Moloch members created Open Grants, a funding system that raised 3600 ETH for ETH2.0 development. That is the true power of a DAO—bringing builders and thinkers together to create successful projects.

How does MolochDAO work?

There are three aspects of MolochDAO: the grant recipients, the membership, and technology. First, anyone can apply during MolochDAO’s April, August, and December grant rounds. The grants focus on Ethereum-based projects, having distributed at least 1 million USD to the ecosystem. Here is the grant proposal flow for a more detailed look at the distribution process. 

Members can join MolochDAO by:

  • Pledging wETH
  • Sharing their proposal & getting sponsorship 
  • Receiving a Moloch grant
  • And working for the DAO. 

which allows them to choose grants to fund. For more on shares and how you can become a member of MolochDAO, check out their handbook. From the technology aspect, Moloch is a DAO framework with unique smart contracts, known as Moloch Minions. The Minions allow Moloch users to interact with external smart contracts. 

These three features make Moloch a favorite among project founders, but another feature stands out more—its simplicity. MolochDAO offers users the necessary on-chain functionality with less code involved. This feature means users enjoy robust security and makes MolochDAO ideal for various use cases. Shortly after its creation, Peter’ pet3rpan’ forked the project to create Metacartel, a DAO like Moloch. 

Uniswap Grants 

The Uniswap protocol is an automated market maker (AMM) built on Ethereum. On November 2, 2018, Hayden Adams unveiled Uniswap. Two years later, the DEX’s treasury went online. Since 2020, Uniswap has grown in popularity, and the total value of assets locked (TVL) in its smart contracts. Uniswap’s TVL multiplied 137 times for context, reaching a record $16 billion in May 2021. It also has a trading volume of $1.1T+, 300+ dApp integrations, and 4400+ community delegations. 

Uniswap Grants is Uniswap’s well-known DAO. The DAO funds blockchain protocol projects through DeFi hackathons, bounties, and grants rounds. Jesse Walden and Ken Ng co-authored the first discussion of the program on UNI’s forum in December 2020. The discussion focused on using Uniswap’s treasury to increase newbies’ access to DeFi. Also, Uniswap Grants would contribute to Uniswap’s core protocol development and partner integrations.

Most of the community voted in favor of the proposal. Uniswap’s Grants Program was born, and it started accepting applications on January 15, 2021. Grant applications are only accepted during “waves”; open seasons where projects can submit their ideas and get funds. 

There have been eight waves with $6.4M distributed for governance, tooling, and community-focused projects. Additionally, there is no predefined volume of applications and approvals. Instead, it all varies according to the UGP team. 

Below is an overview of UGP’s governance method:

  • Six committee members: One lead and five reviewers
  • Each committee is eligible for a two-quarter (6 months) term. After the period expires, UNI governance renews the program. 
  • The committee’s 4 of 6 multi-sig handles the payouts.

Looking at the impact, it seems Uniswap had well-defined objectives about the kind of projects to fund and how to build and maintain the protocol. That thoughtfulness is evident in the success of the program and the various projects it has helped fund. 

SushiSwap

2020 brought the rise of decentralized exchanges. SushiSwap was one of them and has remained popular among DeFi users. Its popularity isn’t just because it was named after Sushi— a favorite Japanese cuisine. 

Chef Nomi built SushiSwap to solve the “DEX liquidity problem.” Despite the immense economic value of DEXs, they have problems affecting DeFi use. Price slippage owing to a lack of liquidity, hefty transaction costs, and network congestion are all examples of these issues. Sushi solves these issues by aggregating its users’ many decentralized markets and tools.

SushiSwap Protocol, like the DAOs discussed above, is governed by the community, also known as DeFi Chefs. That said, SushiSwap governance happens on Snapshot – a gasless off-chain voting platform as opposed to the other DAOs’ on-chain or hybrid voting. Sushi Chefs controls major protocol updates and the dev fund wallet, while the SushiSwap core team handles small changes for operations and menu farming pairs. 

It is important to note that dev fund transactions need Multisig signatures, which three of the six signatories must allow. The Multisig has trusted DeFi & Ethereum members: @MatthewLilley, @0xGasper, @0xJiro, @LufyCZ, @sarangprikh22, @chillichelli. 

SushiSwap Voting and Changes

Any Sushi chef is free to create and post their ideas on Sushi’s forum. All they have to do is to stick to the set-out template. When the idea receives sufficient attention, the Sushi team adds it on Snapshot, where the users decide with SUSHIPOWAH to determine its implementation. Sushi’s voting measure is SUSHIPOWAH, and it is as follows:

  • Each $SUSHI in the SUSHI-ETH pool is equivalent to two SUSHIPOWAH.
  • Each $SUSHI owned in the form of xSUSHI tokens is worth one SUSHIPOWAH.
  • Before the Sushi core team implements proposals, they must have at least 5 million SUSHIPOWAH.

SushiSwap’s core development team, or Operation Multisig, headed by a developer called OxMaki, installs successful proposals. Note that only SUSHIPOWAH tokens can be used to vote on proposals. This feature decreases the possibility of proposals being hijacked by whales and flash loaners. SushiSwap, on the other hand, aims to transition to a more traditional DAO model shortly.

What makes them stand out

Before we take a stab at why we chose the DAOs mentioned above as the best in the space, we apologize if you didn’t see your favorite DAO. In case you are wondering why they were selected, here is why:

  • They are currently the best examples of how decentralized governance, coordination, and compensation should be. With no central governing body, every member shares the DAO goals and can contribute, while most discussions affecting the project are open to the community. 
  • Community onboarding, participation, and sentiment are high. We measure a DAO’s true worth by looking at its community: how many are being onboarded, how they interact with the DAO, plus the percentage of retained talent. A quick search of each of the DAOs mentioned on Deepdao will reveal data about each DAOs membership.

Closing Remarks

Dreams ahead of reality are the best feature of DAOs (and crypto at large), even if it is accidental. That’s because DAOs awaken human imagination and drive innovation. That said, the truth is that there is no perfect governance system. The DAO model best allows builders to experiment with governance systems and users. That said, our idea of DAOs will evolve as the infrastructure stabilizes. While some of us may prefer no governance, others may opt for more hands-on governance. 

And that’s totally fine. 

Overall, our focus should be on providing the ideal platform for contributors and getting equipped with the fitted tooling to build successful DAOs.

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Harvesto Orlando
In love with Blockchain Technology… I write well-researched, engaging, opinionated articles on the applications of blockchain, crypto and Web3.

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