The important feature of cryptocurrencies is that they are not controlled by any single institution called Government or Central Banks. They are divided among many computers, networks, and nodes. Though cryptocurrencies use this decentralized nature to achieve a certain level of privacy and security, it is often criticized for not having a solid system to regulate like standard currencies.
In 2016, a group of developers created the idea of a decentralized autonomous organization or DAO which could be used to regulate and manage crypto assets. But instead of having a central authority, the DAO system proposed to have a group of leaders and participants act as the governing body.
In DAO protocol, decisions impacting the ecosystem of a particular crypto currency are made through voting by the currency or token holders called the governing body. The votes are cast through blockchain and made publicly available. Though the voting power varies depending on the number of tokens the users hold, the DAO encourages every user to cast their vote and take part in shaping the community. These reasons are the reasons that make DAO-backed crypto tokens the most secure and reliable digital asset.
Uniswap – The Influential Pioneer
Uniswap is a decentralized protocol that was built on the Ethereum blockchain and launched in 2018. It is the most influential protocol on the Ethereum blockchain and the top DAO token by market capitalization. Shortly after it was launched, Uniswap became a Decentralized Autonomous Organization, meaning it is managed by a group of people rather than a single entity. UNI token, which was created in September 2020, is used to decentralize the management of the Uniswap protocol. The token has been reviving from the fall it suffered in 2022. As global economies open their doors to cryptocurrencies, It is the perfect time to invest in UniswapDAO.
BitDAO – By And For The Community
BitDAO is a decentralized platform built on the Ethereum blockchain. BIT is the governance token of the BitDAO ecosystem. The platform is powered by smart contracts that handle voting, asset management, and profit distribution.
One of the important features of BitDAO is the decisions about fund management are made by a group of users who are elected to serve as governors. These governors are elected by the community through a voting process that allows more transparency and accountability. It also makes sure that the interest of the DAO investors is represented in the decision-making.
Dogetti – The New DAO Mafia
Dogetti is a new dog-themed meme-coin built on the Ethereum blockchain. The new coin focuses on community management, constant innovation, and fair distribution among its users. It has been building an active community which it refers to as a family. Dogetti allows its family to propose and vote on the proposals to bring new changes and innovations to the Dogetti Ecosystem. This decentralized community-driven decision-making process is what makes Dogetti a unique ecosystem. It also announced a buy-back protocol to engage its user community. According to this protocol, 2% of the tax levied on every transaction will be redistributed to the token holders’ wallets. It helps the users to earn money just by sticking to the community. Dogetti is planning to release 100 billion tokens in circulation, and 50% of them will be released during this ongoing presale. In the first stage of the presale, a single token of Dogetti costs only $0.00007. Users can also avail 25% bonus by using the WISEGUY25 code. If you want to become a member of the digital family that is backed by a strong DAO protocol, click the link below.