Protocol
  • THE Welcome
    • THE Lore
    • THE History
    • THE Idea
  • THE DAO
    • What is a DAO?
    • What is a DAO (ELI5)?
    • Intro to THE DAO
    • THE DAO NFT
  • THE Staking
    • The Formulas
  • THE Contract
    • Tokenomics
  • THE Comics
    • How its made
  • THE Team
    • THE Multisig
  • THE Hall of Fame
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  1. THE DAO

What is a DAO (ELI5)?

A DAO explained to a 5 year old

A DAO is like a club, but instead of a leader telling everyone what to do, the club is run by a set of rules on the computer. The rules make sure that everyone follows the same plan and the money is used the way everyone agreed on. Like a club, the members of the DAO can vote on important decisions and have control over the club's assets. And like a club, everybody can see what's happening in the club and nobody can cheat or change the rules without everyone knowing.

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Last updated 2 years ago

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