DAOs - OWS Docs

What are DAOs?
A DAO is a specific type of application that also uses smart contracts. The specific feature unique to DAOs is that some of their decision-making process is distributed to a cooperative of members. For DAOs on the NEAR blockchain, the members are said to be part of the DAO’s ‘council’. The size of the council, who is part of it, or the role of its members are flexible features decided by the DAO creators and members.
Check out more information about NEAR's new Astro DAO platform here.
In brief, DAOs are a specific type of DApp that allow council members to make decisions through voting about the functioning of the smart contracts the DAO is composed of.
What is DAO governance?
Simply put, DAO governance is the level and type of interaction the members of a DAO council have over the activities of the DAO.
Let’s break this down.
When a DAO is put in place a structure must be implemented to determine the interactions possible by the members involved. As we have mentioned, DAO structures are immutably set in smart contracts. Once these structures are set, there is still decision making and interaction left for humans to partake in: this is what is meant by DAO governance.
To read more about DeFi on NEAR, check out our OWS article on Medium here.
To learn more about what the NEAR team has to say about DAOs, click here.

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What are DAOs?

What is DAO governance?