Are Crypto DAOs a BAD Idea?

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3 years ago
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Best DAOS. Are DAOs legit? What is a crypto DAO?
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OlympusDAO pays 4,000% APY.
An eye-watering number by any measure.
However, in the world of DAOs, 4000% is basically chump change.

In the last week, I’ve spent a lot of time researching these projects..
And seeing returns of 500,000% to 4,000,000% feels like I’m looking at internet pop-ups from 1998.

The truth is many of the DAOs out there are in fact scams.
And these organizations have become the newest way to lure eager investors into rug-pulls.

But I don’t want to ignore the space completely – because the tech at play here could go so far as to redefine not just finance… but the way we organize communities in general.

DAO definition
This is a Decentralized Autonomous Organization,
You can think of this as the blockchain equivalent of a horizontally structured community. A blockchain commune, if you will.
Or as Forbes describes it... “an internet community with a shared bank account”.

The idea is a community where no one member influences what the organization does without the consent of the majority.
Most DAOs have their own governance tokens, which act as a sort of voter’s ID in currency form.

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*I am not a financial advisor. This is not financial advice*

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