How To Setup a DAO
Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
DAOs or Distributed Autonomous Organizations bring people together to pursue a common goal.
Here are the steps to set up a DAO:
Create the DAO from an existing platform that provides DAO structures.
Choose a template that best fits the function of the DAO such as membership, company, or fundraising.
Set a name for the DAO.
Configure the template for your DAO.
Adjust the settings for the performance.
Launch the DAO.
Attach a wallet for managing funds and transfers.
You can either attach directly to a network such as Ethereum or set up a testbed.
Invite others to join the DAO and contribute to the cause.
DAOs give everyone the opportunity to vote on the direction and policies of the group.
DAOs range from small-group initiatives to large-scale movements.
Start with a small group and test out your idea before setting it up for scaling into a large network.
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