Crypto Devs DAO Governance Site:
https://building-dao-ashen.vercel.app
Crypto Devs DAO Contract Address:
0xE796DDdAEC20AbD456a2e8B354dE3c858F23AEA5
The smart contract code is here and the backend code is here.
Head over to this repo for the CryptoDevs NFT minting instructions.
DAO stands for Decentralized Autonomous Organization. You can think of DAOs as analogous to companies in the real world. Essentially, DAOs allow for members to create and vote on governance decisions.
In traditional companies, when a decision needs to be made, the board of directors or executives of the company are in charge of making that decision. In a DAO, however, this process is democratized, and any member can create a proposal, and all other members can vote on it. Each proposal created has a deadline for voting, and after the deadline the decision is made in favour of the voting outcome (YES or NO). Membership in DAOs is typically restricted either by ownership of ERC20 tokens, or by ownership of NFTs.
I launched the DAO for holders of the CryptoDevs NFTs. From the ETH raised from the ICO (initial coin offering), the DAO Treasury was built.
The DAO governance model allows NFT holders to create and vote on proposals to use that ETH for purchasing other NFTs from an NFT marketplace, and speculate on price. In the future the NFT purchased using the treasury can be sold and the profits will be split among all members of the DAO.
