Kromatika Finance
  • KROMATIKA — Next Generation DEX Trading
    • Overview
    • BUIDL Plan
  • Fundamentals
    • How It Works?
      • Uniswap V3
      • Chainlink Keepers
      • Processing Limit Orders
      • Maximum Service Fee
    • Deck
    • White Paper
    • Kromatika DAO Manifesto
      • What is a DAO?
      • Proposal Submission Guide
      • Kromatika DAO Guilds
      • Kromatika DAO Incentive Structure
    • Optimism Grant
  • $KROM token
    • Tokenomics
      • Buybacks
      • Contract addresses
    • Treasury Overview
      • Vesting
    • KROM Celer Bridge
  • Security
    • CertiK Audit
    • Rug-pull Prevention
  • Kromatika dApp 2.0
    • Introducing Kromatika dApp UI 2.0
    • Tutorials
      • How to use FELO
      • How to use Swap
      • How to use Gasless
        • What does "Switch to WMATIC or wrap your MATIC" mean?
      • How to use Perpetuals
  • Guides
    • Tutorials
      • How to use the dApp
      • Bridge via Celer Bridge
    • Listings
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    • FAQ
  • About
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  • What is a DAO?
  • Why a DAO?
  1. Fundamentals
  2. Kromatika DAO Manifesto

What is a DAO?

What is a DAO?

A decentralized autonomous organization, or DAO simply means that an organization has no central authority nor is it run from a centralized location (e.g. a single server). A DAO is an organization run by the people, for the people.

Why a DAO?

As a project led by the people — aka DAO — transparency and community control over the project are its core strengths. All decisions are made using off-chain voting using snapshots, followed by an execution on smart contracts, directly on the blockchain. The project can, at no point, be controlled or steered by a single individual or entity. Any of the protocol’s rules can be changed at any time through a community vote.

This also implies that all suggestions/proposals can turn into reality.

Example: Do you have an idea on how to improve the protocol, how to promote it or how to receive funding/grants etc? Put in your proposal for the community to see. Then the community will vote on your proposal. The community (delegates) have full autonomy for their decision making and if your proposal received a majority YES vote, it will go through and be executed. As simple and straightforward as that!

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Last updated 2 years ago