DAO at Gitopia
A DAO, or “Decentralized Autonomous Organization,” is a community-led entity with no central authority. It is fully autonomous and transparent: smart contracts lay the foundational rules, execute the agreed-upon decisions, and at any point, proposals, voting, and even the very code itself can be publicly audited.
Ultimately, a DAO is governed entirely by its individual members who collectively make critical decisions about the future of the project, such as technical upgrades
Some proposed characteristics of a DAO include:
- No hierarchy: There's often no hierarchical management. Stakeholders usually make decisions instead of leaders or managers.
- Transparent: The code is open source, meaning anyone can look at it. Anyone can scan through history on the blockchain to see how decisions were made.
- Open access: Anyone with internet access could hold DAO tokens or buy them, thus giving them decision-making power in the DAO.
- Democratic changes: Investors can change the rules of a DAO by voting on new proposals.
- Recruiting: A DAO could even theoretically hire outside talent since there are still tasks that only humans can do. For example, the driverless car in a DAO could automatically hire a repairman based on sensors reporting to the DAO when damages occur.
- Shared wallets
The DAO Model at Gitopia
The DAO model at Gitopia is focused on value chain creation. A tool for communities to measure and reward value creation. DAOs at Gitopia would provide a decentralized code management tool for people and institutions that do not know nor trust each other. It would rely on code instead of admins to allow developers to define the rules around codebases in a way that minimizes the need for trust. With DAOs at Gitopia, teams have access to an auditable and transparent history of repositories which are monitored by a programmed set of rules that is self-enforced by the majority consensus of all network actors and not a single admin.
At Gitopia, Anybody can take the initiative and make proposals to create new working groups or change the way things are run. A DAO opens up the floor to the wider community through proposals and request-for-comments. The purpose, resource requirements, key stakeholders, performance metrics, and actual results of an initiative are made transparent — creating accountability and a social layer of checks and balances.
Decentralization doesn’t mean being leaderless. Instead, more people are empowered to take initiatives towards shared goals.
While many of the responsibilities of the DAO model at Gitopia overlap with those of traditional organizations, the core difference (and value proposition) is opportunities to grow the ecosystem and develop meaningful relationships with the contributors in the early era.
DAO and its features are still in the works, and its features will be rolled out over the next couple of weeks.