📔Allna DAO

What is Dao and how do they work?

A "Decentralized Autonomous Organization," or DAO, is an autonomous organization run by the community. Smart contracts establish the underlying laws and carry out the chosen course of action. At any time, proposals, votes, and even the code itself may be openly reviewed by the public.

A DAO is ultimately run exclusively by its individual members, who jointly decide on important project issues including technical advancements and treasury allocations.

In general, community members draft recommendations for the protocol's future operations before gathering to vote on each one. The rules implemented within the smart contract then accept and enforce proposals that reach a certain degree of agreement

According to the analytics service DeepDao, in 2021 the total value of DAO treasuries surged for 4000%, from $400 million to $16 billion, and the number of DAO participants increased by x130 times from 13,000 to 1.6 million! Currently, total treasury is $28.4 billion.

The Allna Protocol community can also participate in certain tasks and vote on options. To do this, you need to hold a certain number of tokens and become eligible to vote. This is how a token can be used for governance.