When I first entered the cryptocurrency world and saw DAO, I thought to myself: These foreigners really like Eastern culture. Why is my Tao so popular in the West?

Plus the icon of the magical protocol @QiDaoProtocol is my avatar. I really thought that talking about DAO with foreigners in blockchain was a cool and fashionable style.

I learned that DAO is the abbreviation of "centralized autonomous organization", which is somewhat related to Lao Tzu's "rule by doing nothing"

What are some famous DAO organizations?

Chinese

33DAO, the best investment research in the field of 33DAO is @33daoweb3

As a high-quality research organization in the Chinese-speaking world, it accurately screens high-quality and potential projects through track prediction, project research and data analysis. Through project cooperation and user guidance, it achieves effective bridging and two-way empowerment between projects and users, drives the effective reduction of chaos in the industry, and forms a positive force for the co-construction of the Web3 ecosystem.

The west

MakerDAO, founded on Ethereum in 2014, adopts a dual-token mechanism, providing decentralized stablecoin SDA1 and governance token SMKR.

CurveDAO, Curve's decentralized liquidity mining provides a capital parking station for users on DAO. Users can put their idle funds into the liquidity mining trading pairs of stablecoins and enjoy the income of idle funds without transferring them back to the exchange.

Okay, let's start to systematically learn about DAO

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Understanding DAOs in DeFi

What is DAO

A DAO, or Decentralized Autonomous Organization, is an entity that operates on the principles of blockchain. It is basically an organization governed by computer code and community consensus, which allows individuals to collaborate and make decisions without a central authority.

DAOs in DeFi

In the DeFi field, DAO plays an important role:

Governance: The DAO enables token holders to propose, discuss, and vote on changes to the protocol. This ensures that control remains in the hands of the community rather than a few major players.

Fund management: Funds within a DAO are managed collectively. Members can propose how resources should be allocated and make decisions through consensus or voting mechanisms.

Innovation: Since DAOs in DeFi are open source, it encourages a collaborative approach. Developers and enthusiasts can propose improvements or modifications, promoting a culture of continuous innovation.

Example: MakerDAO A classic example in DeFi is MakerDAO, the driving force behind Dai, a collateral-backed stablecoin that provides stability. MakerDAO accepts any Ethereum-based asset as collateral to generate Dai, provided that it has been approved by MKR holders and has been assigned specific risk parameters through Maker's decentralized governance process. MKR token holders can vote on system parameters, ensuring that decisions are transparent and collective.

This knowledge point is provided by @CIAN_protocol Defi Class #LearnwithCIAN

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End of article

I hope to help you understand the fun of the cryptocurrency world, not just mindless cryptocurrency speculation.

Only by growing up can you become strong

Come on brother