2022: The Year Of The DAO 🔗
DAO's Play An Integral Role In Crypto & Understanding Them Is Essential 🧵👇
1/ #DAO = Decentralized Autonomous Organization 🤝
Transparent. Fair. Innovative. Necessary.
The role a DAO plays ensures that the community is prioritized and not only the founding members, VCs & early investors
2/ The systemic problem that current corporations face is that a select group of people get to make decisions on behalf of an entire organization.
2.5/These decisions are often not in the best interests of their communities & end up lining key shareholders pockets even more. People's greed drive selfish decisions that impact others negatively.
3/ Ever heard the saying 'power corrupts and absolute power corrupts absolutely'
This is a significant reason why DAO's form an integral part of the success of many #crypto projects and the crypto space as a whole.
4/ DAO's put the power in the hands of the community's token holders. Token holders can vote on proposals that affect the project (upgrades, changes etc.)
An example of how a DAO can optimize existing systems 👇
5/ Essentially, the ethos of crypto is community and decentralization.
We've seen how broken the system is and how only the elites benefit while the community suffers. The concept of a #DAO is community first and foremost & eliminates the "top-down model"☝️
6/ Why DAO's are necessary:
- Transparency
- Community-oriented
- Decentralized
- Fair Model
- Reduces How Founders Manipulate Projects
- Innovative model for decision-making
7/ $CULT has an especially efficient DAO which ensures the community controls what proposals are accepted/refused.
Funds are distributed to proposals that are accepted by the community.
The top 50 dCULT holders can put forward proposals and the community can vote 🤝
$RVLT
8/ DAO's are becoming a prerequisite for any #crypto project. The principles have the ability to revolutionize existing systems and drastically reform the way existing systems are manipulated.
Why are DAO's important to you?
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