Most people hear the word DAO and pretend they understand it. Here is the real definition in plain English.
A DAO is a Decentralized Autonomous Organization.
Decentralized means no single boss.
Autonomous means the rules are enforced by code.
Organization means a structured group with a shared goal.
A real DAO has three parts.
Smart contracts that define the rules.
Governance tokens that give you voting power.
An on chain treasury that only moves when the rules say it can.
That is it. A community run organization on the blockchain where code holds the money and the voters decide what happens.
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