Micro Lecture DAO Flashcards

1
Q

One definition of what a DAO is

A

trust less organization that automates transactions, operations, and decisions without a trusted third party.

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2
Q

5 Characteristics of a DAO

A
  • flat, full democratic
  • voting is required by members for any changes
  • outcome of voting is implemented automatically
  • services offered are handled automatically
  • activity is transparent and public
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3
Q

3 Core parts of a DAO

A
  • Community
  • Governance
  • Treasury
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4
Q

How is communication conducted?

A

On Discord channels

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5
Q

Via which tokens can members vote?

A

ERC20, ERC721, ERC1155

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6
Q

Is voting off-chain or on chain?

A

Can be both

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7
Q

How are governance proposals executed?

A

Manually or automatically by smart contracts

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8
Q

Who executes the vote?

A

The treasury multi-signature holders

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9
Q

When is the snapshot of the token distribution taken?

A

On proposal creation

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10
Q

What is on-chain in DAO governance?

A
  • proposals
  • votes
  • execution
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11
Q

How can the DAO treasury be filled up?

A

through initial token sales

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12
Q

What is the vesting period?

A

Vesting period, also called the token lockup period, refers to a period in which tokens sold in the pre-sale ICO stage and offered to partners and project team members as incentives for their contribution are prevented from being sold for a specific period.

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13
Q

Types of DAOs

A
  • product and service
  • on-chain product and service
  • networking focused community
  • investment focused
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