Decentralised Autonomous Organisations (DAOs) are an innovative way of organising and managing businesses and projects using blockchain technology. Within a DAO, decision-making, and governance are decentralised and autonomous, meaning that they are not controlled by a single individual or group but rather by a set of rules, protocols, and tokens that are encoded on the blockchain.
If you are interested in creating your own DAO, this guide is for you. In 6 simple steps, I’ll walk you through the process of setting up and launching such an organisation. From choosing the right mission to defining your governance structure and raising funds, I’ve got you covered. This will be a strategic guide: great technical & technological guides have already been covered by other writers.
The very first thing you need to do is understand what a DAO is. You may have a great idea for a product or service and, having been told by the internet that DAOs are the next big thing, wish to jump in quickly to catch the wave. But you don’t create a DAO just because it’s cool. You create it to complete a specific digital project (MakerDAO, UniSwap…), to invest (Krause House, Meta Cartel…), to create a community, to provide specific services, or to hoard digital collectibles. There are a few other use cases; don’t be fooled by delusional Twitter hype. I recommend two articles to get better informed: “Are DAOs the Future of Work?” and “Everything Wrong With DAOs”, both by The Pourquoi Pas.