DAO AND TYPES OF DAOs
What really does DAO means ?
A DAO is a decentralized autonomous organization, a type of bottom-up entity structure with no central authority. Members of a DAO own tokens of the DAO, and members can vote on initiatives for the entity. Smart contracts are implemented for the DAO, and the code governing the DAO’s operations in publicly disclosed and these features are common in Dexe DAO system.
Types of DAOs
There are different types of DAOs, including:
1. Protocol DAO
This type of DAO is built to govern a decentralized protocol such as an exchange or a lending application. An example of this type of DAO is the Yearn DAO, which governs the crypto investment platform Yearn Finance by delegating funds to different investment strategies.
2. Philanthropy DAO
This type of DAO forms around a specific philanthropic cause. The members pool funding and decide which organizations related to that cause to donate to based on votes. An example of this type of DAO is the UkraineDAO, which raised over $3 million in ETH for Ukrainian soldiers following the Russian invasion.
3. Grant DAO
A Grant DAO is similar to a philanthropy DAO. Members of the DAO pool their funds, call for applicants and decide which ideas to fund based on votes. An example of this type of DAO is the Aave Grants DAO, which funds ideas aimed at developing the Aave decentralized protocol.
4. Collector DAO
A collector DAO pools funds from members to invest in specific assets and distribute profits proportionally after a specific period. An example of this type of DAO is the ConstitutionDAO, which raised $47 million in ETH from over 17,000 members to buy an original copy of the U.S. constitution but lost the bid in the end.
5. Social DAO
A social DAO is focused on bringing together like-minded individuals under a single umbrella. They usually have a barrier to entry like owning a specific amount of tokens or a particular NFT. An example is the Developer DAO, a collective of crypto developers whose membership requirement is owning a Genesis NFT.
Social DAO
6. DAO
A venture DAO pools funds to invest in assets not available in the traditional finance sector, e.g., artwork, rare metals, and artifacts. An example is the Krause House DAO, which is raising funds to buy an NBA team but hasn’t succeeded so far.
Diving deep into the Dexenetwork Dao system
Dexe.network is a decentralized social trading platform designed to follow the best traders strategies. It’s a unique product creating a one-of-a-kind trading tool in the DeFi environment. DeXe ecosystem operates on DAO principles.
This product is developed by a team of real traders. The founders of DeXe team have tremendous experience in trading since 2014. They have created a centralized platform first, which operates in a private mode.
DeXe network allows users to:
1 Create your personalized trading token — the price of which will depend solely on your trading experience, knowledge, and implementation of strategies.
2 Save and multiply your assets — choose proven professional traders and multiply your assets by growing their trader’s label tokens.
3 Group investments — By voting the participants and holders of the trader’s label token, can decide whether to trust the trader with investments in various crypto companies or any speculative instrument like farming or staking.
4 Copy any transactions of chosen wallet; Save on commissions with Dexe smart contract copying pools; Hold, send, give your trader’s label token and much more on the ecosystem.
In summary in Dexenetwork DAO members of the DAO can vote on proposals.
For more information about Dexenetwork check out the links below 👇👇
https://twitter.com/DexeNetwork
https://medium.com/dexe-network
https://www.facebook.com/dexe.network
https://t.me/Dexe_network
https://dexe.network/
#Dexenetwork #DAO #DEXE
