The core developers of a dao

From Fintech Lab Wiki

Role and activity

Those known as the "developers" of a Decentralized Autonomous Organization (DAO) are in charge of "creating, deploying, and developing the DAO white paper rules in a smart contract encoded on blockchain protocol"[1].

"While anyone may make proposals for updating the code", only the members of the "core developing team" hold the "commit key" (the password that allows changes to be made to the blockchain's software repository) to being able to modify it[2]. In this sense, each line of code constitutes to all intents and purposes, on the one hand, a strategic or managerial choice of the organization, involving the entire blockchain and, therefore, all participants in the network, and on the other hand, a technical choice that is functional to reflect the defined objectives.

The developers are not directly accountable to token holders. In fact, "a DAO does not necessarily have a controlling party and, therefore, allows for open access and permissionless innovation - that is, developers can experiment with new products and ideas without fearing repercussions from a central governing entity"[3].

In most cases, the developers are members of associations or foundations, which are thus responsible for coordinating and promoting the network underlying the DAO, while also making strategic choices[4].

Moreover, they do "often coordinate their actions with operators of large mining pools"[2].

References

  • P. Hacker, Corporate Governance for Complex Cryptocurrencies ? A framework for Stability and Decision Making in Blockchain-Based Organizations, 22 Nov 2017, p. 11, available at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2998830
  • R. Piselli, Quando la decentralizzazione delle DLT incontra il mercato dei capitali. Appunti sulle organizzazioni decentralizzate, in AGE, 2019, p. 386.
  • 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. 5.
  • C. Bellavitis, C. Fisch, P. P. Mumtaz, The rise of decentralized autonomous organizations (DOAs): a first empirical glimpse, June 7, 2022, p. 9.
  • A. Walch, Deconstructing "Decentralization": Exploring the Core Claim of Crypto Systems, in Crypto Assets: Legal and Monetary Perspectives (Chris Brummer, ed.), Oxford University Press, 2019, p. 52.
  1. ↑ 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. 5.
  2. ↑ 2.0 2.1 P. Hacker, Corporate Governance for Complex Cryptocurrencies ? A framework for Stability and Decision Making in Blockchain-Based Organizations, 22 Nov 2017, p. 11.
  3. ↑ C. Bellavitis, C. Fisch, P. P. Mumtaz, The rise of decentralized autonomous organizations (DOAs): a first empirical glimpse, June 7, 2022, p. 9.
  4. ↑ R. Piselli, Quando la decentralizzazione delle DLT incontra il mercato dei capitali. Appunti sulle organizzazioni decentralizzate, in AGE, 2019, p. 386.
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