EZ Wallet 101: What is a DAO? What makes it different?
Let’s start this with…
🤔 What is a DAO?
In simple words, a DAO (Decentralized Autonomous Organization) is like a group of friends working together to decide the direction of the crypto project.
D: Stands for Decentralized — They don’t have much of a hierarchy. Anyone can be a leader if they actively share interesting proposals with the community.
A: Stands for Autonomous — They mostly rely on smart contracts to execute their mission. They work to reduce human bias as much as possible.
O: Stands for Organization — This is quite clear that every DAO can be seen as a community or group working to achieve a unified goal. For some, it is to save the world from hunger; for others, it could be making Web 3.0 a better place for everyone.
What has been described is just an idealized version of what a DAO can be. In fact, there is so much more nuance to it within the web3 world. A diverse community allows DAOs to mix and match formulas that lead to success. Some take a core team position as a pioneer and guide the community. In contrast, others take a more backseat approach providing feedback and valuable insights as to what can be improved from an observational point of view. EZ Wallet is a project with the motto of building a product for the community, by the community.
So by now, you must be wondering.
😲 What makes a DAO different from a traditional community?
Free to Join, Free to Lead: Just by jumping into a Discord channel and asking for help, you can already become part of a DAO. Dedication to a DAO allows you to deliver predictably, sometimes more than expected, while still being able to express your thoughts and personality while shaping the direction of the community.
Flexible Outputs: DAOs will assume you’re contributing to multiple projects at once unless you’re hired for a specific ongoing event. As long as you’re delivering what you promise, feel free to choose and join the DAOs you like and, in the end, choose the one you love most. It could be EZ Wallet. Who knows?
All In One And One For All: When you join a DAO, you won’t be limited by the engrained hierarchical structures of most traditional organizations. That can make you a creative expert by day and a great leader by night. The opportunities are endless when people work together, without ego, to achieve the same goals.
🕵️ Desire to know more about DAO?
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