DAO
A DAO — decentralized autonomous organization — is a group coordinated by smart contracts and token votes instead of bosses and bylaws: proposals, voting,
A DAO — decentralized autonomous organization — is a group coordinated by smart contracts and token votes instead of bosses and bylaws: proposals, voting, and treasury spending all happen on-chain. ConstitutionDAO, MakerDAO, and Arbitrum’s DAO are landmark examples.
Why it matters
DAOs are governance experiments at scale — genuinely novel when vote power is diffuse, pure theater when three wallets control the outcome. The honest test is always the same: who can move the money, and how many independent votes does it take? Everything else is forum decoration.