What is Dao and Defi?

DAO and DeFi The term DAO stands for “decentralized autonomous organization” and can be described as an open-source blockchain protocol governed by a set of rules, created by its elected members, that automatically execute certain actions without the need for intermediaries.

What is a collector Dao?

Collector DAOs: The purpose of a collector DAO is to acquire non-fungible tokens (NFTs). Members of a DAO will pool their money and buy the NFTs chosen by the members of the DAO. PleasrDAO, one of the most high-profile collector DAOs, purchased Wu-Tang Clan’s album “Once Upon a Time in Shaolin” in 2021 at a government auction.

What happened to a dao token?

Following the contentious argument over the DAO's future and the massive hacking incident of earlier in the summer, by the fall of 2016, several prominent digital currency exchanges, such as Kraken, de-listed the DAO token, marking the effective end for the DAO as it was initially envisioned. 8 What Is a DAO?

What does the platinum dao do?

What does the Platinum DAO do - the DAO profits from trading crypto tokens to the rights to access platinum stored in a vault in London. Each time someone wants to buy the rights to the platinum a commission is earned by the DAO. The person can use the token to pick up the platinum form the vault or exchange it anywhere and anyhow.