If you have ever wondered how a Decentralised Autonomous Organisation (DAO) is run, grab a seat and read on!
Do you know that a DAO, just like a traditional organization, employs a variety of tools or digital applications for different purposes?
But the key difference is that a DAO’s tools are mostly decentralized applications or programs running on a blockchain. Decentralized applications, dApps for short, have a crypto wallet interface that enables DAOs to connect and navigate their websites.
Dapps and other tools can altogether be found in a DAO tool kit. Here are some popular DAO tools to get familiar with!
Snapshot
Launched in 2020, Snapshot is a gasless web3 voting platform for DAOs. It enables DAOs to track the opinions and votes of their members openly. It is a free-to-use decentralized protocol with a simple wallet integration, and it allows DAOs to customize their experience.
To vote on Snapshot, voters must be accredited (i.e., they must hold the governance token of a DAO).
JuiceBox
JuiceBox is the go-to platform for token launch and fundraising on the Ethereum blockchain. It is specifically built for crypto projects that want to raise funds using Ether. In 2021, Constitution DAO raised $47 million on JuiceBox from over 17,000 donors to buy a rare copy of the US constitution.
It provides the infrastructure for DAOs to deploy their tokens and raise money.
Safe
Formerly known as Gnosis Safe, Safe is a decentralized protocol that provides on-chain custody of digital assets on the Ethereum blockchain and the EVM. Ethereum-based DAOs have millions of dollars in assets secured by Safe.
Safe was initially launched in 2018 to support Ethereum, but it has now expanded to such blockchain protocols as Polygon and Binance Smart Chain.
Safe has a smart contract multi-sig wallet which is suitable for DAOs as it requires a minimum number of accredited members or core contributors or a threshold to approve a transaction.
DeWork
DeWork is a DAO-friendly dapp that allows freelancers and members of a DAO community to apply for bounties and grants. It currently has over 500 DAOs listed on its platform, and it provides a simple wallet integration that enables successful applicants to earn rewards.
DeWork makes finding job opportunities in web3 easy, and it enables DAO communities to collaborate. It is also an open-source platform where DAOs can source for quality contributors whose track records are visible.
Coordinape
Coordinape is specifically designed to help DAOs allocate rewards fairly to their core contributors. In other words, it is a Dapp that allows participants in a DAO to reward one another for their efforts over a given period of time.
Coordinape makes the fair distribution of resources easy, transparent, and quick through ‘Gift Circles’.
Discord Server
The membership of a DAO can range from 50 to 20 thousand members or more. Every DAO needs a large platform such as a Discord server to bring its members together.
Today, most DAO communities can be found on Discord which is a social media app for gaming, collaboration, and discussion.
Discord enables DAO and other crypto-native communities to customize their experience, and it also allows them to interact with other applications outside Discord.
Other DAO tools include Utopia, Deep DAO, Kali DAO, Yerba, SuperDAO, Notion, Aragon, Telegram, etc.
Read more DAO articles: https://hackernoon.com/do-daos-have-the-ability-to-change-the-world