Micro Lecture DAO

Question 1

One definition of what a DAO is

Answer 1

trust less organization that automates transactions, operations, and decisions without a trusted third party.

Question 2

5 Characteristics of a DAO

Answer 2

• flat, full democratic
• voting is required by members for any changes
• outcome of voting is implemented automatically
• services offered are handled automatically
• activity is transparent and public

Question 3

3 Core parts of a DAO

Answer 3

• Community
• Governance
• Treasury

Question 4

How is communication conducted?

Answer 4

On Discord channels

Question 5

Via which tokens can members vote?

Answer 5

ERC20, ERC721, ERC1155

Question 6

Is voting off-chain or on chain?

Answer 6

Can be both

Question 7

How are governance proposals executed?

Answer 7

Manually or automatically by smart contracts

Question 8

Who executes the vote?

Answer 8

The treasury multi-signature holders

Question 9

When is the snapshot of the token distribution taken?

Answer 9

On proposal creation

Question 10

What is on-chain in DAO governance?

Answer 10

• proposals
• votes
• execution

Question 11

How can the DAO treasury be filled up?

Answer 11

through initial token sales

Question 12

What is the vesting period?

Answer 12

Vesting period, also called the token lockup period, refers to a period in which tokens sold in the pre-sale ICO stage and offered to partners and project team members as incentives for their contribution are prevented from being sold for a specific period.

Question 13

Types of DAOs

Answer 13

• product and service
• on-chain product and service
• networking focused community
• investment focused