Decentralized Autonomous Organisations: DAO Is The Time

Typically, the most powerful organisations of both the past and present have been at some point subjected to centralised points of control, which ultimately tends to lead to their demise. This can be evidenced throughout history in a variety of ways. DAOs are run on programming code written on a collection of smart contracts predominantly created on Ethereum — for now.

Governance, Ownership & Voting in DAOs

The Power of Decentralized Funding

The DAO Exploit that Saved Ethereum

Common DAO critics will point to a number of things. The most short sighted of which will reference the hacks, without the understanding that they genuinely increased the longevity and security of such protocols. The slightly more knowledgeable critics will point to the reality that in some cases DAOs can be manipulated by a small few who may otherwise be known as whales. In response to this however, much like any obstacle in crypto, the failures and exploits have simply led to further innovation.

Reflection” is a counteracting adaptation of protocols preventing token holders from being swindled through whales selling, as it rewards those who HODL. Every time a sale or transaction is made there is a % tax, some of which goes to token holders as rewards, and some of which is burned, thus, limiting the damage that can be done by whales to smaller token holders.

The evolution of the DAO is certainly something to behold. An example of both human persistence and brilliance, and a group of people working together not only in trustless consensus, but also autonomously in a decentralized manner to better the systems of finance we have in place today. The law is slowly catching up with the new age of protocols we are being graced with and it is clear to most that whatever adversities are thrown at these systems, innovation will always find a way to prevail.

Don’t forget — The first monthly NFT Raffle is live on BurpToken.com! Users who have accumulated Raffle Tickets from staking are able to enter with tickets into the raffle to be in with the chance to win some exclusive MealDrops or Sandbox NFTs. Be sure to check out the launch video and article for more information!

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