DAO offers limitless possibilities by unlocking the power of community.

Today, businesses are facing new challenges to remain competitive and relevant. Customers have become the focal point of every company’s strategy as they are no longer seen as passive targets but active participants in a brand’s reputation and success.

This shift also poses new risks for companies that have relied on centralized structures and intermediaries, such as brokers or agents, who can now extract value from trusting customers in an anonymous and digital environment. In response to these new market dynamics, businesses are adopting decentralized models to bring trust back into their networks, increase efficiency, and reduce costs.

A decentralized autonomous organization, or DAO, is specifically designed to operate autonomously and make decisions based on a set of rules. A DAO is owned by everyone who stakes tokens in it rather than one specific individual. A DAO operates on the blockchain as a smart contract to enable this structure so that there is no central point of failure.

A DAO functions as an investor-directed venture capital fund with its own token. Look at DAOs and see if they’re suitable for your business or organization.

Some Advantages of DAO

DAOs are great because they’re more democratic than other forms of organization.

An advantage of DAOs is that there’s no central authority to control decisions and make unpopular decisions. If a DAO is well-run, it’s easy for members to make their voices heard.

Crew3

Crew3 is an operating system with web3 communities where the community members will be able to get points based on their contributions. These points determine their rank of contribution to that project, and they will be rewarded based on their assistance. Anyone can create a community by registering their project into the system. They charge no fees, which means it’s totally free to use.

Usability: It is simple to use, and there are more than 30 quest templates, powerful filters, discord bots, and team collaboration features, along with an autopilot system which makes it more scalable than any other project.

Popularity: There are more than 200 projects listed on the platform, and the number is growing fast. Mostly popular among web3 and NFT projects.

DAOStack

The DAOstack project is building a software stack for DAOs that includes a governance protocol library and friendly interfaces for creating and managing DAOs for any purpose. Dapps can be connected to the DAOs to interact with them.

Usability: The Graph protocol, a decentralized back-end database based on The Graph, is used to cache applications. It provides developers with a decentralized back-end database based on The Graph. Any decentralized decision-making, such as voting or reputation management, is made easier on the platform.

Popularity: Genesis DAO, dorg, polkaDAO, AugurDAO, dxDAO are some top projects that used the platform in the DAOstack ecosystem.

GITCOIN

Gitcoin is a distributed network of Smart Contracts powered by Ethereum which helps new open-source projects get funding. Community support and quadratic matching, in other words, will provide more funds.

Usability: Coders and developers can get paid to work on open-source software on Gitcoin, a platform where they can do so in a variety of programming languages. Users may also submit their project ideas to the Gitcoin platform to crowdsource funding from contributing donors. The Gitcoin Grants are a quarterly fundraising event that enables open-source projects of all sizes to seek and receive community funding, and this allows the community to be part of the development of a new project.

Popularity: More than 43,000 people have used Gitcoin to fund open-source software through almost $40 million in funding. More than 310,000 developers are active per month on Gitcoin.

Collab Land

Collab.Land is a user-friendly discord bot that verifies the ownership of NFTs to create token-gated communities. It’s a straightforward but powerful community management system that can be used to create a multi-layer community within discord and telegram.

Usability: Collab.land can be used to verify NFT ownership to grant multi-tier access to the owner based on their NFTs. A token tired community can be built where the more tokens one holds, the more exclusive access he will get, or you can create a sub-community based on the number of tokens or types of NFT holding.

Popularity: It’s one of the widely used bots among different discord and telegram servers.

Gnosis Safe

Gnosis Safe, one of the most well-known digital asset management platforms for decentralized organizations, stores nearly $90 billion worth of assets in self-custody. Users are permitted to examine and analyze the source code for vulnerabilities in Smart wallets, which are fully open-source and freely accessible by both users and crypto security experts.

Usability: A Gnosis Safe multi-signature smart contract wallet allows users to establish a list of owner/signer accounts and set a minimum number of signers required to verify a transaction. After a certain amount of owner accounts have confirmed a transaction, the Safe transaction may be processed.

Popularity: Uniswap, Bit DAO, Maker DAO, Aave are some top projects using Gnosis Safe.

Conclusion: Decentralized applications, or dApps, are applications that run on the blockchain. They are designed to act as autonomous entities, making decisions without any human input and operating according to rules set by developers, users, and the community. Currently, the most popular and fast-growing dApps are centered around cryptocurrency and the token economy.

However, that’s not the only type of dApp. There are many ways to create a decentralized application. You can create a decentralized voting system or a decentralized media platform. The possibilities are endless. Decentralized applications have the potential to make the current centralized systems we use obsolete.

There are many more decentralized applications (dApps) in the works. Expect more to come from the decentralized web.