#club5050| creative writing by @jonesfx

Hello guys as y’all know am @jonesfx on steemit and today I will be talking about DAO.

DAO is a decentralized body or a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed upon decisions, and at any point, proposals, voting, and even the very code itself.
DAO is governed entirely by its individual members who collectively make critical decisions about the future of the project, such as technical upgrades and treasury allocations.
DAO gives us a way to collaborate with a lot of people all over the world. DAO are built on public blockchain so any can inspect in their treasuries for transparency as all financial transactions are stored on them.
Proposals that achieve some predefined level of consensus are then accepted and enforced by the rules instantiated within the smart contract.
Now let’s talk about how to get involved Once you’ve found a project of interest, there are a few different ways to get directly involved. I feel it is important to note that not all DAOs operate with the same purpose so the first step is figuring out the core function of each DAO.For DAOs focused on technical governance, it’s important to understand what sort of voting rights are granted to token holders and what kind of proposals are at stake.In some instances such as Uniswap, token holders can vote on distributing a portion of the fees that the protocol collects amongst themselves. In other protocols such as Compound, token holders can vote on distributing these protocol fees towards bug fixes and system upgrades.