More crypto terms! Don’t we love it?! A decentralized autonomous organization (DAO) is a community of people that utilizes smart contracts. Rather than being run by one person, the community comes together to vote and participate in conversations revolving around the DAOs strategy.
DAOs are often created to achieve a specific goal or mission. For example, The Gitcoin DAO focuses on raising grants to award to open source projects. Other DOAs focus on charitable causes, governance structures, and asset management.