DAO 101: what is a DAO and how does it benefit you?

Some of you are familiar with DAOs; we’re already seeing certain avid members of our Pussy-loving community getting involved in discussions. But others may have seen this term bouncing around the crypto space, and wondered ‘what is a DAO – and how does it benefit me?’ 

 

So, it’s time to give you the lowDAOn.  
 

Firstly, DAO = Decentralized Autonomous Organization 

 

Long words, we know. But essentially, it’s a peer-run system of governance run on blockchain – as opposed to a group of senior company leaders (or ‘big cats’ at the top) who dictate every single business decision from a centralized, proverbial ivory tower. 

 

Cooper Turley put it simply for CNBC’s Make It when he said: “A DAO is an internet community with a shared bank account.” 

 

There are still rules, contracts, and a central team that help make up the parameters of a DAO, but basically – a vast majority of it is a self-organizing system. If you have tokens, you have a say. The more stake you have, the more voting power you have on things that affect the future of the project. 

 

What’s good about a DAO? 

 

  • Transparency and accountability; pitches, discussions and decisions are public, rather than behind closed doors, cloaked in mystery.  
  • No single person has control over the project decisions, therefore greatly reducing human error or biased decision making. 
  • It is completely community guided. You want something? You can actually make it happen. You think something is a terrible idea? You may be able to veto it before it comes to pass. 
     

The beauty of the PF DAO (and what makes it truly unique) is that we have already have a central funding pool to commit investment into DAO decisions and outcomes – meaning our holders will not be out of pocket for voting. More details to come on this in our next article. 

 

So, what are you waiting for?

Go check out the initial conversations starting in The DAO Forum 

The destiny of your $PUSSY is in your paws. 

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