30 lines
1.3 KiB
Markdown
30 lines
1.3 KiB
Markdown
---
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title: 'ThreeFold DAO'
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sidebar_position: 4
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---
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A **DAO**, or **Decentralized Autonomous Organization**, is an organizational structure that operates through smart contracts on a blockchain, with decision-making processes carried out in a decentralized and autonomous manner.
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DAOs aim to create transparency, eliminate centralized authority, and allow members to participate directly in decision-making.
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### Key Characteristics of a DAO:
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1. **Decentralization**:
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- Decisions are made collectively by the members.
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2. **Autonomy**:
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- Once deployed, a DAO operates according to its pre-defined smart contracts, which enforce rules and execute decisions automatically without manual intervention.
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3. **Governance via Token Ownership**:
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- Members often participate in governance by holding tokens, which can be used to vote on proposals or influence decisions.
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4. **Transparency**:
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- All transactions and governance decisions are recorded on the blockchain, ensuring accountability and transparency.
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5. **Programmable Rules**:
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- DAOs use smart contracts to define rules, manage assets, and execute actions based on collective decisions.
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### ThreeFold DAO
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The ThreeFold Cooperative promotes and manages the DAO, INCA Token holders vote using the DAO for the GEP's and UEP's (see decentralization 4 doc) |