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Rise Glossary

What is a DAO?

A DAO, or decentralized autonomous organization, is a type of organization that is run using smart contracts on a blockchain. It is designed to operate in a decentralized and autonomous manner, without the need for a central authority or controlling party.

DAOs are created by writing a set of smart contracts that specify the rules and governance of the organization. These smart contracts are then deployed to a blockchain, where they can be executed automatically according to the rules set out in the contracts.

DAOs can be used for a wide range of purposes, such as managing a cryptocurrency, running a decentralized marketplace, or funding and governing open source projects. They are intended to be transparent, accountable, and secure, and to allow members to participate in decision-making and governance without the need for intermediaries or central authorities.