中文来源：去中心化组织(DAO)科普
英文来源：DAO Definition
什么是DAO
去中心化自治组织（DAO）是围绕一个使命而建立起来的团体，该团聚体通过在区块链上执行的一套共享规则进行协调和合作。
DAO的主要好处之一是，它们比传统公司更加透明，因为任何人都可以查看DAO中的所有行动和资金流向。这大大降低了腐败和审查的风险。上市公司必须提供经独立审计的财务报表，但股东只能看到该组织的财务健康状况的一个快照。由于DAO的资产负债表存在于公共区块链上，因此它在任何时候都是完全透明的，精确到每一笔交易。
与公司相比，DAO组织通常更容易全球化，对想进入组织的成员壁垒也更低。由于拥有较高的透明度和较低的进入壁垒，不同意规则和行动的发展议程组织成员的转换成本也较低。拥有类似使命的DAO可能需要争夺成员，并被激励尽可能地透明化，从而减少集体的寻租成本，这样才能吸引顶级成员。DAO可能还需要迅速发展，以满足成员的需求。
这篇文章的目标不是要详细介绍加密技术中的每一个DAO，而是高屋建瓴地概述什么是DAO，为什么它们很有趣，并展示它们的一些潜在用例。
DAO 应用
也许迄今为止最有名气的DAO是The DAO，它于2016年4月作为一个去中心化的风险投资基金推出。成员们贡献ETH，并获得DAO代币作为回报，这些代币可以用来投票决定资金应该分配给哪些项目。它筹集了1.5亿美元的ETH，并被黑客攻击，被盗走了6000万美元。一个有趣的部分是，即使DAO现在已经失效，任何人仍然能够看到所有发生的交易，因为它是在公共区块链上，这个记录永远不会消失。不幸的是，DAO黑客事件暂时给很多人留下了负面印象，或者说是对DAO这个词的怀疑，但是DAO是一种极其强大的组织形式，没过多久，DAO组织在加密领域又重新兴起。
如果加密项目本身是由去中心化治理管理的，代币持有者可以对项目的方向或各种参数设置进行投票，而不是完全由中心化团队决定，那么就可以认为是DAO。例如，MakerDAO构建去中心化稳定币，该组织的DAO代币持有者能够对系统进行治理，对收费等参数进行投票。
另一个案例是Curve DAO，该建立了一个自动做市商（AMM），为锁定其代币的代币持有者产生费用并提供收入分成。Curve代币（CRV）锁定的时间越长，DAO成员获得的投票权和奖励就越多。与传统公司按比例支付利润不同，这个DAO的设置是根据代币持有人保持投资的时间长短来加权投票权和收入分成。
一个DAO的资产可以由利益相关者通过代币直接控制。利益相关者可以是匿名的，位于世界任何地方。这些匿名利益相关者可以聚集在一起分配一个DAO的资产，用于任何事情，包括雇佣员工。这是今天正在发生的事情。由数百名已知和匿名成员组成的DAO，仅凭社区声誉就合法地雇佣了员工。例如Empty Set Dollar（ESD）DAO向其社区经理Lewi支付了18万美元的薪水，他说这是他职业生涯中薪水最高的角色。其他区块链如Tezos和Decred也有这种类型的系统来奖励贡献者的工作。
我们已经看到了一些DAO的创建，目的是为了资助投资或赠款。Moloch DAO是一个DAO，它为推进Ethereum生态系统提供资助。如果人们不同意DAO的整体决定，他们还允许人们 以退出 的方式提取资金。MolochDAO的合约已经被多次分叉，以创建其他DAO。MetaCartel Ventures是一个投资于dapp的营利性基金，是许多著名加密项目的早期投资者，包括Zapper和Rai。成员由加密社区中经验丰富的建设者组成。同样，The LAO是另一个由Ethereum爱好者组成的DAO，它在早期投资了包括Boardroom和Aavegotchi在内的项目。MetaCartel Ventures和The LAO都是DAO的例子，它们在加密生态系统中拥有强大的管理资金，与许多风险基金相当，有时甚至比许多风险基金更大，因为创始人希望与DAO成员合作，而DAO本身也代表了加密的精神。
我们也看到了迎合更多特定投资机会的DAO出现，比如拥有NFT艺术品和虚拟游戏物品。Yield公会游戏是一个以玩为生的游戏公会，通过购买Axie Infinity、League of Kingdoms和The Sandbox等游戏中的NFT，将玩家变成投资者。
FlamingoDAO是一家专注于NFT的营利性DAO。他们一直在积极投资NFT，当他们为一个罕见的CryptoPunk NFT支付76.2万美元的ETH时，他们的新闻。
还有围绕工作组织的DAO，比如Raid Guild是一个分散的建设者和设计师的集体，可以在加密领域的产品上进行工作，MetaFactory围绕时尚和文化组织，销售他们创造的产品。
DAO 工具集合
有许多为创建和协调DAO而构建的工具，如Aragon、DAOStack、DAOhaus、Llama和MyCo，这样成员就不必从头开始构建一切。
还有像Snapshot这样的工具，专门管理代币持有人投票的提案，方便查看提案的相关细节和投票状态。
甚至有一些项目，你可以买卖治理票，比如Automata。这个概念可能会引起争议，因为它可能会导致那些拥有大量资本的人能够控制票数，但我认为这种类型的借贷系统的建立将是不可避免的，只会导致项目硬化其治理系统。
在指标方面，有Deep DAO用于跟踪DAO生态系统。它不一定是全面的，但看到成员数量、提案和选民参与等指标是很有趣的。
未来使用案例畅想
DAO有一大堆有趣的用例，但是这还是我们刚刚开始。有了DAO，我们就可以快速地对治理系统进行实验，以快速改进什么是有效的，什么是无效的。例如，可以有一个使用futarchy进行决策的DAO，它包括成员在预测市场中下注，然后使用这些市场的结果来决定行动。
当DAO本身服务于一些不同的协议并获得治理代币作为回报时，我们还将看到元治理。DAO将开始在其他DAO中投票并担任代表。
一个可能的用例是，在DAO中，所有成员都是匿名的，可以在DAO中建立声誉，而不必透露他们的身份。这可以让成员在一个更公平的竞争环境中，使DAO更容易奖励个人贡献者，而不是可能迎合已经有大量追随者的高调成员。
DAO的另一个有趣的用例是拥有集体的NFT艺术品，每个成员可以对一件艺术品的不同属性进行投票，并根据个人属性让整体艺术品发生变化。
DAO潜在的问题
DAO是强大的组织方式，但也可能存在潜在的问题，它们并不是所有事情的理想系统。虽然DAO可以用代码取代法律合同的各个方面，并节省了大量的运营开销，但在某些情况下，在促进DAO的智能合同所概述的规则之外没有法律保护。如果DAO的控制权集中或定义模糊，这可能会产生问题，尽管有些DAO也可能在DAO本身背后形成法律实体。有一项怀俄明州DAO法案通过了怀俄明州参议院委员会，该法案将有助于建立法律认可的DAO。
根据DAO的设立方式，与CEO等中央领导层在必要时快速决策相比，可能更难协调和快速行动。不过，DAO可以设置不需要太长时间的配额，并对DAO成员的反应速度提出要求。另外在一开始有很多决策要做的时候，可以在某些成员之间进行更多的集权，然后随着时间的推移，DAO会以所谓的 "渐进式分权 "的方式进行分权。"
还有可能出现选民冷漠的情况，即并非所有成员都想投票，或甚至最有资格对所有变化进行投票。在这种情况下，很可能会有选民将投票权委托给那些能够更了解情况、更积极地进行投票的成员，这些成员也与他们的信仰一致。这些代表有时被称为协议政治家，因为他们经常在DAO中为成员的委托投票进行竞选，类似于现有政治家的做法。我们可能会出现协议游说团体，试图影响这些政治家的决定。反过来说，有一天，我们甚至可能看到DAO进行游说，自己成为社会中的主要政治机构。
另一个问题是，由于成员资格如此开放，有可能导致DAO内质量较低，噪音较大，但这些都可以通过DAO筛选流程或最低代币持有量来解决，以至少确保参与者有代价在游戏中，并激励他们看到DAO的成功。
What Is a Decentralized Autonomous Organization (DAO)?
A decentralized autonomous organization (DAO) is an emerging form of legal structure. With no central governing body, every member within a DAO typically shares a common goal and attempt to act in the best interest of the entity. Popularized through cryptocurrency enthusiasts and blockchain technology, DAOs are used to make decisions in a bottoms-up management approach.
KEY TAKEAWAYS
- A decentralized autonomous organization is an entity structure in which tokenholders participate in the management and decision-making of an entity.
- There is no central authority of a DAO; instead, power is distributed across tokenholders who collectively cast votes.
- All votes and activity through the DAO are posted on a blockchain, making all actions of users publicly viewable.
- One of the first DAOs named The DAO was an organization created by developers to automate decisions and facilitate cryptocurrency transactions.
- A DAO must ensure security is prioritized, as exploits can leave a DAO drained of millions of dollars of its treasury savings.
Understanding Decentralized Autonomous Organizations (DAOs)
One of the major features of digital currencies is that they are decentralized. This means they are not controlled by a single institution like a government or central bank, but instead are divided among a variety of computers, networks, and nodes. In many cases, virtual currencies make use of this decentralized status to attain levels of privacy and security that are typically unavailable to standard currencies and their transactions.
Inspired by the decentralization of cryptocurrencies, a group of developers came up with the idea for a decentralized autonomous organization, or DAO, in 2016.1 The concept of a DAO is to promote oversight and management of an entity similar to a corporation. However, the key to a DAO is the lack of central authority; the collective group of leaders and participants act as the governing body.
How DAOs Work
DAOs rely heavily on smart contracts. These logically coded agreements dictate decision-making based on underlying activity on a blockchain. For example, based on the outcome of a decision, certain code may be implemented to increase the circulating supply, burn of a select amount of reserve tokens, or issue select rewards to existing tokenholders.
The voting process for DAOs is posted on a blockchain. Users must often select between mutually-exclusive options. Voting power is often distributed across users based on the number of tokens they hold. For example, one user that owns 100 tokens of the DAO will have twice the weight of voting power over a user that owns 50 tokens.
The theory behind this practice is users who are more monetarily invested in the DAO are incentivized to act in good faith. Imagine a user who owns 25% overall voting power. This user can participate in bad acts; however, by doing so, the user will jeopardize the value of their 25% holding.
DAOs often have treasuries that house tokens that can be issued in exchange for fiat. Members of the DAO can vote on how to use those funds; for example, some DAOs with the intention of acquiring rare NFTs can vote on whether to relinquish treasury funds in exchange for assets.
In 2021, ConstitutionDAO was formed in an attempt to buy a copy of the U.S. Constitution. Though the DAO failed at acquiring the asset, the DAO proved a collection of like-minded individuals could form and pursue such endeavors.2
Benefits of DAOs
There are several reasons why an entity or collective group of individuals may want to pursue a DAO structure. Some of the benefits of this form of management include:
- Decentralization. Decisions impacting the organization are made by a collection of individuals as opposed to a central authority that is often vastly outnumbered by their peers. Instead of relying on the actions of one individual (CEO) or a small collection of individuals (Board of Directors), a DAO can decentralize authority across a vastly larger range of users.
- Participation. Individuals within an entity may feel more empowered and connected to the entity when they have a direct say and voting power on all matters. These individuals may not have strong voting power, but a DAO encourages token holders to cast votes, burn tokens, or use their tokens in ways they think is best for the entity.
- Publicity. Within a DAO, votes are cast via blockchain and made publicly viewable. This requires users to act in ways they feel is best, as their vote and their decisions will be made publicly viewable. This incentivizes actions that will benefit voters' reputations and discourage acts against the community.
- Community. The concept of a DAO encourages people from all over the world to seamlessly come together to build a single vision. With just an internet connection, tokenholders can interact with other owners wherever they may live.
Limitations of DAOs
Not everything is perfect regarding DAOS, though. There are severe consequences to improperly setting up or maintaining a DAO. Here are some limitations to the DAO structure.
- Speed. If a public company is guided by a CEO, a single vote may be needed to decide a specific action or course for the company to take. With a DAO, every user is given an opportunity to vote. This requires a much longer voting period, especially considering time zones and prioritizes outside of the DAO.
- Education. Similar to the issue of speed, a DAO has the responsibility of educating a lot more people in regards to pending entity activity. A single CEO is much easier to keep comprised of company developments, while tokenholders of a DAO may have ranging educational backgrounds, understanding of initiatives, incentives, or accessibility to resources. A common challenge of DAOs is that while they bring a diverse set of people together, that diverse set of people must learn how to grow, strategize, and communicate as a single unit.
- Inefficiency. Partially summarizing the first two bullets, DAOs run a major risk of being inefficient. Because of the time needed to administrative educate voters, communicate initiatives, explain strategies, and onboard new members, it is easy for a DAO to spend much more time discussing change than implementing it. A DAO may get bogged down in trivial, administrative tasks due to the nature of needing to coordinate much more individuals.
- Security. An issue facing all digital platforms for blockchain resources is security. A DAO requires significant technical expertise to implement; without it, there may be invalidity to how votes are cast or decisions made. Trust may be broken and users leave the entity if they can't rely on the structure of the entity. Even through the use of multi-sig or cold wallets, DAOs can be exploited, treasury reserves stolen, and vaults emptied.
DAOs
Pros
- A range variety of individuals can collectively come together from around the work to act as a single entity.
- More individuals have a voice in the planning, strategy, and operations of the entity.
- As votes on the blockchain are publicly-viewable, tokenholders are naturally incentivized to act more responsibly.
- Members of a DAO may feel empowered to collaborate with like-minded individuals with similar goals within a single community.
Cons
- It often takes longer for decisions to be made as there are more voting participants.
- There is often more burden to educate users as the collective voting population are diverse with varying ranges of education and knowledge.
- More time is needed to cast votes or gather users due to the decentralized nature of the entity.
- Severe exploits such as theft of treasury reserves are possible if the DAO's security is not properly established and maintained.
DAO Example: The DAO
The DAO was an organization that was designed to be automated and decentralized. It acted as a form of venture capital fund, based on open-source code and without a typical management structure or board of directors. To be fully decentralized, the DAO was unaffiliated with any particular nation-state, though it made use of the ethereum network.
The DAO launched in late April 2016 thanks to a month-long crowd sale of tokens that raised more than $150 million in funds.3 At the time, the launch was the largest crowdfunding fundraising campaign of all time.
Operations of The DAO
By May 2016, the DAO held a massive percentage of all ether tokens that had been issued up to that point (up to 14%, according to reporting by The Economist).4 At roughly the same time, however, a paper was published which addressed several potential security vulnerabilities, cautioning investors from voting on future investment projects until those issues had been resolved.
Later, in June 2016, hackers attacked the DAO based on these vulnerabilities. The hackers gained access to 3.6 million ETH, worth about $50 million at the time.5 This prompted a massive and contentious argument among DAO investors, with some individuals suggesting various ways of addressing the hack and others calling for the DAO to be permanently disbanded. This incident also figured prominently in the hard forking of ethereum that took place shortly thereafter.
Criticisms of The DAO
According to IEEE Spectrum, the DAO was vulnerable to programming errors and attack vectors.6 The fact that the organization was charting new territory in terms of regulation and corporate law likely did not make the process any easier. The ramifications of the structure of the organization were potentially numerous: investors were concerned that they would be held liable for actions taken by the DAO as a broader organization.
In July 2017, the Securities and Exchange Commission (SEC) issued a report, which determined that The DAO sold securities in the form of tokens on the Ethereum blockchain, violating portions of US securities law.7
The DAO operated in murky territory about whether or not it was selling securities, as well. Further, there were long-standing issues regarding the way that the DAO would function in the real world. Investors and contractors alike needed to convert ETH into fiat currencies, and this could have impacted the value of ether.
Following the contentious argument over the DAO's future and the massive hacking incident of earlier in the summer, by the fall of 2016, several prominent digital currency exchanges, such as Kraken, de-listed the DAO token, marking the effective end for the DAO as it was initially envisioned.8
What Is a DAO?
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.
What Is the Purpose of a DAO?
A DAO is intended to improve the traditional management structure of many companies. Instead of relying on a single individual or small collection of individuals to guide the direction of the entity, a DAO intends to give every member a voice, vote, and opportunity to propose initiatives. A DAO also strives to have strict governance that is dictated by code on a blockchain.
How Does a DAO Make Money?
A DAO initially raises capital by trading fiat for its native token. This native token represents voting power and ownership proportion across members. If a DAO is successful, the value of the native token will increase. The DAO can then issue future tokens at a greater value to raise more capital. A DAO can also invest in assets if the members decide to approve such measures. For an example, a DAO can acquire companies, NFTs, or other tokens. Should those assets appreciate in value, the value of the DAO increases.
DAO的全称是什么：
- Oiht： Disturbed Autonomous Organizations
- CyBT：Decentralized Auto Organizations
- JJpv: Decentralized Autonomous Organizations (correct & over)
- JaiM: Disturbed Auto Organizations