A DAO, or a decentralized autonomous organization, is a type of organization that is run using blockchain technology and smart contracts instead of a traditional hierarchical management structure. In a DAO, decision-making power is distributed among all the participants, who use a voting mechanism to determine the direction of the organization. The rules of the organization are encoded in smart contracts, which are self-executing and enforceable agreements that run on the blockchain.
In simpler words, a DAO is like a special type of group that uses a computer system to make decisions and rules.
Everyone in the group has a say in what happens, and they use the computer system to vote and decide what to do.
The computer system makes sure that the rules are followed, and no one person is in charge of everything.
It's like a big game where everyone plays by the same rules and has a say in what happens.
Every single STAGE or community automatically comes with it's own DAO. Anyone in the community can propose new votes to the group and all members can partipate and express how they feel and what they want the future direction of the community.
We all know things go to shit when their is a cerntral government or a small group of people that can make decisions for the rest of us common folk. With DAOs, everyone in the group can share power.
DAOs can be used to govern online communities by providing a fair and democratic way for members to make decisions together.
For example, let's say there is an online community for gamers who want to organize events and tournaments. The community members could form a DAO to manage the group's activities.
They would use the DAO to vote on decisions, such as which games to play, how often to hold events, and how to distribute prizes. The rules for how the DAO operates would be encoded in smart contracts on the blockchain, so everyone knows what the rules are and how they will be enforced.
By using a DAO, the community can ensure that everyone has a say in what happens and that decisions are made fairly. It also allows for transparency, since all decisions and transactions are recorded on the blockchain for everyone to see.
What does our DAO feature look like:
A new vote can be proposed by filling in basic fields such as Name of vote, type of vote, date voting begins, etc
Members get notifed of the vote and can interact on the newsfeed: