The DAO is a decentralized autonomous organization based on the Ethereum blockchain. The project was launched 30th of April 2016, with a 28-day DAO token crowd sale to fund the organization. The crowd sale set a new groundbreaking record as the most crowdfunded project in history with 12 million Ether, $150 million equivalent in USD gathered.
The DAO token will be used as a measurements for voting on proposals set out by companies trying to get a piece of the The DAO fund. 1 DAO token = 1 vote (positive or negative) and will be the consensus mechanism as The DAO seeks to gain profit from the proposals put forward.
Created Once. Endless opportunities.
DAOs will be at the center of many economies going forward and intend to be at the forefront of supporting innovative and promising projects, products and services in order to become ‘The DAO’: A flexible decentralized autonomous organization leveraging the wisdom of the crowds to benefit the DAO Token Holders.
Profits. Ethics. Technology.
The DAO is a for-profit DAO that will diligently use the ETH under its control to create value and provide benefits to its members while collaborating and improving the decentralised ecosystem as a whole.
Multiple Projects, Several Contractors
While there is a particular interest in the sharing economy and IoT applications of the blockchain, The DAO is not limited to these market verticals. It is open to exploring any and all new markets unlocked by blockchain technology.
The DAO’s Token Holders debate the viability and profitability of Proposals on or off-chain through its forums.
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