DAO is a decentralized organization managed not by a single center but by users who are DAO participants, which is confirmed by the presence of a special code. There is no traditional hierarchical system here. All elements are controlled using smart contracts; this works transparently using prescribed codes. Compared to an ordinary company, the system is very similar: the organization gathers groups of people to solve certain tasks. It is choosing leaders, voting for the board of directors, making operational decisions, etc.
More details about the functioning of the DAO
Participants have native tokens which confirm membership in a certain DAO or provide an opportunity to purchase a passport of a DAO member. After this, the participants may take an active part in the development of the DAO. They can influence issues throughout the inner community. Participants of the system make proposals to improve the work of the company; if the majority votes for this idea, then the community management of the organization should consider it.
For example, a DAO system for a sports club allows all members to vote on which player they want to see on the team. If this is the DAO of a soda company, then the members vote on which new drink taste they want to get. Any Decentralized autonomous organization already has certain means (treasury) to implement the ideas for which the community members have voted.
Benefits of using the KAIF DAO platform
We offer an innovative KAIF DAO that is the first Vote-To-Earn platform for organization, company, brand, agency, etc. The introduction’s purpose is to create a community with active members motivated to participate in the life of an organization. KAIF DAO platform allows companies to improve their performance by:
Each DAO member participates in voting using fiat money or the platform's internal currency (i.e., tokens). Typically, the DAO's activities aim to coordinate decisions using the monetary reserve. Corporations can invest money in business development, advertising, and studying users' opinions (consumers).
People vote on which product they want and perform various tasks (for example, making a post with the product on social networks). Their motivation is to get tokens to spend on something useful and enjoyable. If you become a DAO member of a sports club, you will complete tasks, vote, and get tokens. And you can, for example, buy a ticket for a match.
What makes the KAIF DAO Platform different?
KAIF Platform, operating on the blockchain, offers many advantages competitors do not yet have. These are not only sports clubs and power engineers; any company can deploy its DAO system. You may earn fiat money and KAIF tokens for putting forward your ideas to improve the company’s work, voting, and other useful actions. You can choose whether to spend this money in an internal marketplace (for exclusive goods) or exchange it for real currency. DAO members capitalize on their winning decisions and develop the organization’s future.
It is beneficial for companies to implement DAO because it allows them to build a community of active members around themselves. As a result, the larger your community is, the higher the income. The benefits of the corporations lie in the ability to hear their users and improve services according to people's opinions. The benefit of DAO members is to actively participate in the life of their favorite club or product, complete interesting tasks, and receive tokens that they can then spend.