DAO and How It Relates to Bitkub

Modified on Tue, 14 Nov 2023 at 11:21 AM

DAO stands for Decentralized Autonomous Organization which disperses power among several nodes rather than concentrating it on one person. This allows the organization to function autonomously and advance swiftly through the automated execution of smart contracts in accordance with predetermined conditions. Compared to traditional organizations, it is therefore more transparent.

Additionally, the DAO system provides users with chances to earn rewards or incentives, including giving tokens to partners or participants who meet the requirements. When Web 3.0 is functional, everyone will be able to read, write, and own/co-own, enabling co-creation, co-ownership, and co-benefits. This means that large corporations will no longer be the only ones with the capability.

Bitkub recognizes the advantages of this system as well. As a result, we apply it to various services or activities in our company, such as developing the Bitkub Social DAO feature on the Bitkub Chain's Bitkub NFT platform, voting for representatives or internal business activities through the DAO system, etc.


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