What is a DAO?
In a nutshell, a decentralized autonomous organization (DAO) is an entity with no central leadership.
So how do decisions get made then you ask?
Good question! They’re made from the bottom-up, governed by a community and organized around a specific set of rules enforced on a blockchain.
DAOs operate using smart contracts, which are essentially chunks of code that automatically execute whenever a set of criteria are met.
DAOs are internet-native organizations collectively owned and managed by their members. While a DAO is essentially just a new means of “organizing” many these days come with the bonus of having built-in treasuries that are only accessible with the approval of their members.
Decisions are made via proposals the group votes on during a specified period.
What does the structure of a DAO look like then?
A DAO works without hierarchical management and can have a large number of purposes. Freelancer networks where contracts pool their funds to pay for software subscriptions, charitable organizations where members approve donations and venture capital firms owned by a group are all possible with these organizations.
DAOs can come in all shapes and structures
https://coinmarketcap.com/view/dao/
Why is a DAO so important for the future of work and creative projects?
Firstly DAO’s remove hierarchy and instead are based on the premise of founder alignment and vision.
By coding the DAO requirements, objectives and metrics into smart contracts, DAO’s are transparent and allow for significant efficiencies and trust-less governance.
By replacing many intermediaries, the DAOs themselves act as digital intermediaries that provide transparency and scale, giving them the stature of an organization without the traditional organizational constructs of entities, groups, management, charters and other forms of collective action.
While the traditional centralized organizational structure is being challenged, the key organizational elements that remain are fuelling a new economic revolution that is giving birth to a new creator economy and bringing artists, lawyers, developers and creators together from all around the globe to create ideas and monetize them at global scale in permissionless crypto economic systems built upon blockchain and Web3 technologies — and essentially defining the future of work
What is the role of the DAO in the future?
Many DAOs will emerge that represent the collaboration of a global talent pool, digital natives, and the ingenuity of a community that shares a common belief system — and bring the term “organization” to life.
What’s so unique about a DAO structure?
DAOs provide a unique structure that naturally supports a creator economy, in which an economic model supports a structure through which you rent your talent and time, obtain flexibility and earnings, and leverage it to facilitate fractional ownership in the system supported and governed by the community.
Blockchain and, by association, DAOs embody a natural governance structure for borderless online collaboration on crypto-native projects by digital natives which, incidentally, can be leveraged by Web3 as a technology paradigm aims to provide rails for creation, tokenization and movement of value and assets.
The Web3 aim to solve content ownership and provide portability of digital assets by tokenizing them paves the way to trade this tokenized value for other fungible tokenized assets, thereby enabling creators to monetize their work effort. These work efforts may include (but are not limited to) mining and the creation of content.
Challenges and unknowns of DAO’s
Despite their growing popularity, DAOs have a long way to go before reaching full mainstream adoption.
Not all DAOs work out.
In fact, most DAOs won’t work out over the long-term. It’s always possible that the governance token value for a DAO may hit zero.
Despite the unknowns, those in the space think that DAOs will be disruptive to traditional structures of business.
Why is BiaDAO different?
BiaDAO is a treasury DAO that is not only asset backed to prevent deflationary pressure that other comparators face, but will actively grow and invest in a clean Cryptocurrency mining business to further increase profits for its community (founders) and help also buffer against the unstable inflationary pressures that many competitive DAOs have.
The BiaDAO treasury is backed and supported by decentralized assets and physical/real world assets to provide price stability and will utilise staking and bonding principles to grow its treasury. These real world assets are in the form of carbon neutral crypto mining operations which act as a secondary liquidity booster.
BiaDAO investment into sustainable crypto and bitcoin mining ensures that capital inflows into the treasury are a mechanism to support annual percentage yield (APY) thresholds and when needed allow for tokens to be bought back from investors to provide price stability.
What’s the future for BiaDAO?
BiaDAO is building on the foundation of the Olympus DAO by adding Bitcoin mining as a secondary liquidity source.
Instead of just having a growing treasury from staking and bonding, Bitcoin mining will reduce the need for the positive flywheel effect, creating a crypto bear market hedge that will sustain a high APY, diversify the treasury backing, and increase profit to its community.
What’s not to like? Get in early and be a part of the most exciting and unique new DAO on the block!
To read more and to get involved see the following
