What does DAO stand for?
AnswerDecentralized Autonomous Organization
A DAO is an organization run by rules written in code and member votes.
Tech · Facts & stats
DAO facts & stats
7 fact-checked facts about DAOs and online community governance, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
Where are a DAO's core rules typically written?
AnswerIn smart contracts on a blockchain
Smart contracts enforce the rules automatically.
Going deeper
In which year did 'The DAO', an early investor-directed fund, launch?
Answer2016
The DAO launched on Ethereum in 2016.
Which US state passed a law in 2021 letting DAOs register as LLCs?
AnswerWyoming
Wyoming's DAO law took effect in July 2021.
What is a multisig wallet?
AnswerA wallet that needs several approvals to send funds
Multisig means multiple signatures are required.
Expert level
In 2021, ConstitutionDAO tried to buy a rare first printing of which document?
AnswerThe US Constitution
ConstitutionDAO bid at a Sotheby's auction in November 2021.
What is quadratic voting?
AnswerEach extra vote on an issue costs more, based on the square of votes cast
It lets people show strong preferences at rising cost.
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