THE FOUNDERS OF A DAO - Revision history

Moratoc at 15:14, 29 September 2023

2023-09-29T15:14:45Z

← Older revision		Revision as of 15:14, 29 September 2023
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	== ~~Definition~~ ==		== Role and activity ==
	~~These~~ are ~~the individuals~~ involved in the process of ~~establishing~~ the ~~DAO, who draft a~~ so-called ~~whitepaper~~ containing the rules and objectives of the organization, which is published on the web, particularly on social media, in order to present the idea behind the entity and attract investors. The latter, if interested, can join the proposal by contributing cryptocurrencies, receiving tokens issued by the organization in return.		The founders of a [[Decentralized Autonomous Organization\|Decentralized Autonomous Organization (DAO)]] are involved in the process of its establishment. Mainly, they are in charge of drafting the so-called "white paper" containing the rules and objectives of the organization, which is published on the web, particularly on social media, in order to present the idea behind the entity and attract investors. The latter, if interested, can join the proposal by contributing cryptocurrencies, receiving tokens issued by the organization in return.

			Moreover, they "''usually are the initial [[The core developers of a dao\|developers]] of the smart contract-based protocol''", who then "''transfer ongoing decision-making to the software's users and supporters''"<ref>O. Borgogno, ''Making decentralized autonomous organizations (DAOs) fit for legal life: mind the gap'', Questioni di Economia e Finanza by Banca d'Italia, 2022, p. 8.</ref>.

	While, in theory, the procedure of establishing the DAO and distributing its control among those who decide to believe in the initiative appears fully democratic, it has been found in practice to be an unequal takeover phenomenon. In this sense, the founders, together with the early entrants to the system, purchase large quantities of tokens at a cost approaching zero, with the aim of subsequently increasing their price through the management of the DAO, and then trading them on the secondary market and profiting from the difference.		While, in theory, the procedure of establishing the DAO and distributing its control among those who decide to believe in the initiative appears fully democratic, it has been found in practice to be an unequal takeover phenomenon. In this sense, the founders, together with the early entrants to the system, purchase large quantities of tokens at a cost approaching zero, with the aim of subsequently increasing their price through the management of the DAO, and then trading them on the secondary market and profiting from the difference.

	Lastly, the founders are responsible for opening up the open source code of the blockchain and smart contracts underlying the DAO in order to promote forms of collaboration in software development with any [[The core developers of a dao\|developers]] ~~interested in this~~.		Lastly, the founders are responsible for opening up the open source code of the blockchain and [[Smart Contracts and DeFi\|smart contracts]] underlying the DAO in order to promote forms of collaboration in software development with any interested [[The core developers of a dao\|developers]].

	== References ==		== References ==
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	* R. Piselli, ''Quando la decentralizzazione delle'' DLT ''incontra il mercato dei capitali. Appunti sulle organizzazioni decentralizzate'', in ''AGE'', 2019, p. 373 ss.		* R. Piselli, ''Quando la decentralizzazione delle'' DLT ''incontra il mercato dei capitali. Appunti sulle organizzazioni decentralizzate'', in ''AGE'', 2019, p. 373 ss.
	* C. Santana, L. Albareda, ''Blockchain and the emergence of Decentralized Autonomous Organizations (DAOs): An integrative model and research agenda,'' in ''Technological Forecasting & Social Change,'' 2022, p. 3.		* C. Santana, L. Albareda, ''Blockchain and the emergence of Decentralized Autonomous Organizations (DAOs): An integrative model and research agenda,'' in ''Technological Forecasting & Social Change,'' 2022, p. 3.
			* O. Borgogno, ''Making decentralized autonomous organizations (DAOs) fit for legal life: mind the gap'', Questioni di Economia e Finanza by Banca d'Italia, 2022, p. 8.

	[[Category:MUSA Tech4Fin_Milestone_1]]		[[Category:MUSA Tech4Fin_Milestone_1]]
	[[Category:MUSA DOLaw]]		[[Category:MUSA DOLaw]]

Moratoc at 15:47, 23 August 2023

2023-08-23T15:47:50Z

← Older revision		Revision as of 15:47, 23 August 2023
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	While, in theory, the procedure of establishing the DAO and distributing its control among those who decide to believe in the initiative appears fully democratic, it has been found in practice to be an unequal takeover phenomenon. In this sense, the founders, together with the early entrants to the system, purchase large quantities of tokens at a cost approaching zero, with the aim of subsequently increasing their price through the management of the DAO, and then trading them on the secondary market and profiting from the difference.		While, in theory, the procedure of establishing the DAO and distributing its control among those who decide to believe in the initiative appears fully democratic, it has been found in practice to be an unequal takeover phenomenon. In this sense, the founders, together with the early entrants to the system, purchase large quantities of tokens at a cost approaching zero, with the aim of subsequently increasing their price through the management of the DAO, and then trading them on the secondary market and profiting from the difference.

	Lastly, the founders are responsible for opening up the open source code of the blockchain and smart contracts underlying the DAO in order to promote forms of collaboration in software development with any [[The core developers of a ~~DAO~~\|developers]] interested in this.		Lastly, the founders are responsible for opening up the open source code of the blockchain and smart contracts underlying the DAO in order to promote forms of collaboration in software development with any [[The core developers of a dao\|developers]] interested in this.

	== References ==		== References ==

	* R. Piselli, ''Quando la decentralizzazione delle'' DLT ''incontra il mercato dei capitali. Appunti sulle organizzazioni decentralizzate'', in ''AGE'', 2019, 373 ss.		* R. Piselli, ''Quando la decentralizzazione delle'' DLT ''incontra il mercato dei capitali. Appunti sulle organizzazioni decentralizzate'', in ''AGE'', 2019, p. 373 ss.
	* C. Santana, L. Albareda, ''Blockchain and the emergence of Decentralized Autonomous Organizations (DAOs): An integrative model and research agenda,'' in ''Technological Forecasting & Social Change,'' 2022, p. 3.		* C. Santana, L. Albareda, ''Blockchain and the emergence of Decentralized Autonomous Organizations (DAOs): An integrative model and research agenda,'' in ''Technological Forecasting & Social Change,'' 2022, p. 3.

			[[Category:MUSA Tech4Fin_Milestone_1]]
			[[Category:MUSA DOLaw]]

Moratoc: Created page with "== Definition == These are the individuals involved in the process of establishing the DAO, who draft a so-called whitepaper containing the rules and objectives of the organiz..."

2023-06-25T10:38:35Z

Created page with "== Definition == These are the individuals involved in the process of establishing the DAO, who draft a so-called whitepaper containing the rules and objectives of the organiz..."

New page

== Definition ==
These are the individuals involved in the process of establishing the DAO, who draft a so-called whitepaper containing the rules and objectives of the organization, which is published on the web, particularly on social media, in order to present the idea behind the entity and attract investors. The latter, if interested, can join the proposal by contributing cryptocurrencies, receiving tokens issued by the organization in return.

While, in theory, the procedure of establishing the DAO and distributing its control among those who decide to believe in the initiative appears fully democratic, it has been found in practice to be an unequal takeover phenomenon. In this sense, the founders, together with the early entrants to the system, purchase large quantities of tokens at a cost approaching zero, with the aim of subsequently increasing their price through the management of the DAO, and then trading them on the secondary market and profiting from the difference.

Lastly, the founders are responsible for opening up the open source code of the blockchain and smart contracts underlying the DAO in order to promote forms of collaboration in software development with any [[The core developers of a DAO|developers]] interested in this.

== References ==

* R. Piselli, ''Quando la decentralizzazione delle'' DLT ''incontra il mercato dei capitali. Appunti sulle organizzazioni decentralizzate'', in ''AGE'', 2019, 373 ss.
* C. Santana, L. Albareda, ''Blockchain and the emergence of Decentralized Autonomous Organizations (DAOs): An integrative model and research agenda,'' in ''Technological Forecasting & Social Change,'' 2022, p. 3.