DAO’S ON NEAR ECOSYSTEM: What Nigerians Should Know

  • The token membership DAO where holding a particular token is required to become a part of the DAO, however there are DAO’s where all members have equal voting rights regardless of the amount of tokens held and those are “flat DAO’s” while some DAO’s have a sort of hierarchy where members holding larger amounts of tokens get to have more voting rights and those are “hierarchical DAO’s”
  • DAO’s based on share holdings
  • DAO’s based on reputation
  • Community DAO’s
  • The DAO’s can be used for investments and also businesses where the profits and loss incurred are shared among the members
  • They can also be used for charity, a DAO on Near blockchain was actively involved in collecting of donations in forms of cryptocurrencies for Ukraine during the war
  • Purchasing of Non-fungible tokens
  • Giving out grants

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