Tag Archives: DAO

The Commodity Futures Trading Commission (CFTC) has filed an enforcement action lawsuit against Ooki DAO, a crypto margin trading and lending platform for engaging in digital asset margin trading that only CFTC-registered Futures Commission Merchants (FCM) can perform.  Ooki DAO also failed to adhere to customer identification requirements prescribed under the Bank Secrecy Act, the commission further alleged in its lawsuit filed in the U.S. District Court for the Northern...

Ethereum co-founder Vitalik Buterin published a lengthy blog post on Monday defending the usefulness of decentralized autonomous organizations (DAOs).  He outlined 3 reasons that DAOs have unique advantages compared to traditional corporations, and will not simply be outcompeted and obsoleted by the latter. Making Better Decisions A DAO is an emerging, blockchain-native, bottom-up governance structure without a centralizing hierarchy or CEO. Instead, the organization’s...

The popular Ethereum wallet “MetaMask” is officially launching its own token, as confirmed by  Consensys CEO Joseph Lubin. The team will also reportedly launch a decentralized autonomous organization (DAO) for funding the wallet’s growth. MetaMask competes with other self-custodial wallets like MyEtherWallet and Coinbase Wallet for interacting with web 3. Individuals and institutions can use the wallet to use Ethereum and other smart contract chains for minting NFTs,...

Dedicated to restoring Assange’s freedom, AssangeDAO started its fundraising on February 3. Less than a week later, it has concluded its efforts after managing to rake in 17,422 Ether from 10,000 users. Helping Embattled WikiLeaks Founder Julian Assange The newly-formed AssangeDAO’s mission was to raise enough funds to help free Julian Assange. It aimed to acquire ETH in return for the JUSTICE governance token to bid on a 1/1 NFT. The NFT in question was made by well-known...

Decentralized Autonomous Organizations (DAOs) are a form of governance systems powered by their community. They can be independent of third parties, and government corporations and they also differ a lot in their business and organizational model from traditional organizations. Quick Navigation What is a DAO? In light of the above, we can pinpoint the following characteristics of a DAO: Non-hierarchical system: As the name suggests, DAOs are decentralized systems owned and...