FAQs
Last updated
Last updated
DAO is an acronym for decentralized autonomous organization. DAOs are an effective and safe way to work with like-minded folks around the globe.
Think of them like an internet-native business that's collectively owned and managed by its members. They have built-in treasuries that no one has the authority to access without the approval of the group. Decisions are governed by proposals and voting to ensure everyone in the organization has a voice.
There's no CEO who can authorize spending based on their own whims and no chance of a dodgy CFO manipulating the books. Everything is out in the open and the rules around spending are baked into the DAO via its code. (Ethereum.org, January 2022).
Further reading:
There are multiple facets to the term "decentralization" and most projects fail to dissect the complexity of such a philosophy.
Decentralization as it relates to RescueDAO refers to political and architectural decentralization.
Political decentralization concerns an organization's decision-making process. Rather than one person or entity controlling operations and financial transactions, the community collectively makes decisions through a transparent and verifiable voting process.
Architectural decentralization refers to the fact that RescueDAO doesn't have a physical headquarters, but exists in every community in which a DAO member resides.
Further reading:
DAO membership grants members voting rights in all DAO decisions, the ability to contribute to DAO needs, and access to the broader Animal Rescue DAO community. All RSCU and ART holders are DAO members, along with partnering organizations and honorary members as elected by the community.
Starting an organization with someone that involves funding and money requires a lot of trust in the people you're working with. But it’s hard to trust someone you’ve only ever interacted with on the internet. With DAOs you don’t need to trust anyone else in the group, just the DAO’s code, which is 100% transparent and verifiable by anyone. (Ethereum.org, January 2022)
The core team chose to organize as a DAO because we can accept membership and donations from anyone in the world and our community can decide which organizations and initiatives receive grant money.
No, Animal Rescue DAO is not a charity or 501(c)3 nonprofit organization. Animal Rescue DAO is a digital-native organization with no physical presence. We are simply a community of internet strangers with a shared passion for animals and saving lives. Our philosophy of sustainable giving sets us apart from other charitable organizations with similar missions.
TLDR: Ethereum is slow and expensive.
DAOs A-Z:
Defining D.A.O:
Internet-native organizations:
The meaning of decentralization:
Why decentralization matters:
is the next generation censorship-resistant blockchain with extreme transaction speeds and low cost, therefore perfect for DeFi and other high-speed blockchain applications. Algorand leverages Pure Proof of Stake as it's consensus algorithm. This means that it can tolerate malicious users, achieving consensus without a central authority, as long as a supermajority of the stake is in non-malicious hands. This protocol is very fast and requires minimal computational power per node, giving it the ability to finalize transactions efficiently.
