DAO

If you haven't yet explored decentralized finance under Web3, then DAO might simply be another confusing three-letter acronym to you. Yet, a decentralized autonomous organization (DAO) is really just a flash way of describing an entity with no central leadership. You don't have leaders making decisions on behalf of the organization's members. Instead, the DAO's community makes all relevant decisions collectively based on an initial set of rules enforced on a blockchain. On joining a DAO, its members agree to abide by the rules on the blockchain to help them work towards a common purpose.