"DAO" stands for "decentralized autonomous organization". The idea is that a community of people work together on equal footing via a decentralized consensus towards a common goal. The opposite would be a classical hierarchic structure of an traditional company, where the boss decides top-down what has to be done.
- It sets the direction of where to go in the future with the product
- While the portfolios and strategies generate revenue, the DAO decides what to do with this revenue, and how to further grow brokkr to reach our mission "bring DeFi to the millions"
While DAOs empower users and provide resilience, they also slow down progress and decisions. It's key to balance rapid development and resilience in order to ensure the best conditions for a certain product at a certain time of the product cycle.
Initially the Brotocol DAO will be a multisig wallet. Later down the road, brokkr will gradually set up a more decentralized organization. This ensures finding market fit quickly, and leveraging the power of the community in the long run.