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The legal status of The DAO is subject to intense discussion. None of the contents of this wiki is intended to be, nor should it be construed as, legal advice. |
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Note | There is a common confusion floating around you shall be aware of and avoid. A DAO is the term to qualify a decentralized autonomous organization. The DAO is the chosen name given by its creators to the first created DAO on the Ethereum network. |
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A standard DAO framework has been written by Slock it and can be found on its Github. This framework is written in Solidity to run on the Ethereum blockchain. It has been developed free and open source, so everyone can reuse it to create its own Decentralized Autonomous Organization.
Token
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DAO tokens do not represent or constitute an equity ownership stake, share, or equivalent in ANY public or private company, corporation, or other entity in any jurisdiction; DAO tokens are only for use in connection with The DAO under the terms of The DAO’s smart contract code and do not entitle any holder of DAO tokens to any additional rights with respect to any other corporation, company, or entity in any jurisdiction. |
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DAO tokens:
- Allow the holder to vote on any expenditure the DAO could make
- Are fully transferable. They can be traded peer-to-peer or on an exchange
- Represent a relative portion of The DAO's crypto assets at any given time
You will find a lot of information about the DAO token on Etherscan: number of transaction, proposal list, ongoing votes, smart contract source, token holders...
Token price
During its 28 day creation period, DAO token prices have been fixed this way:
- A price of 1ETH / 100DAO for the first 14 days,
- an increase of 0.05ETH each day for the next 10 days
- finally a 4 day period of 1.5ETH / 100DAO.
Once the creation period is over, the DAO token will be traded on some exchanges like any other market.
Contractors
A DAO is purely software: in itself it does not have the capabilities to manufacture a product, write code, develop hardware or sweep the streets. It requires actors in the physical world for this purpose, called Contractors. Contractors submit Proposals for the development of products or services—these Proposals are written in plain English and backed by a software code in the form of a smart contract that defines the relationship between The DAO and the Contractor: deliverables, responsibilities, and operating parameters.
The DAO Token Holders may debate the viability and profitability of Proposals off-chain through the discussion forums DAOHub.org, daohub slack team, on-chain threaded discussions, etc).
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The DAO may also select a replacement Contractor for any given Proposal, meaning projects can continue where they left off rather than being abandoned outright. |
Smart contracts
Smart contracts are short computer programs which encode business logic and are automatically enforced by the network’s consensus algorithm.
Please visit the Smart contract section of the wiki for a complete revue.
Curators
A Curator is an entity employed by The DAO to act as its real world intermediary, as The DAO itself it does not have the capabilities to build a product, write code, or develop hardware; The DAO purely manages funds.
The curator is the only entity that is allowed to add contractors to the DAOs whitelist, authorizing them to receive ether from the DAO.
Proposal
https://blog.slock.it/how-to-create-gorgeous-proposals-81eb3f606226#.c82vurucs
Framework
List of proposals
The DAO consider it website is a place dedicated to proposals. Once a new proposal and its description is added, members have the capability to express opinion using the consider it technology.
This website is a very good place to test and expose proposals to critique, and a chance to gain traction. This is not officially affiliated with the DAO and is a tool to use as is. You need to register before you post a proposal or express your opinion.
Whitelist
Voting mechanism
13 days for a proposal to be fully vetted. If enough quorum (20%)
Split
DAO 2.0
Improvements in the performance of DAO governance are currently in development, and these are what generally fall under the title “DAO 2.0”.
See also
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