GAM3S.GG is your one-stop shop for web3 gaming, offering a comprehensive platform with games, news, reviews, quests, and analytics, along with the G3 token for governance, payments, and rewards.

 gaming space is thriving, with new projects entering it every day. While this robustness is positive, there's still the major challenge of keeping up with all that's happening in the space. Information about web3 games remains scattered, with many potential participants missing out on opportunities.

For this reason, GAM3S.GG has created an integrated web3 gaming platform where you can discover new games, access game content, get early access to new gaming projects and find reliable reviews.

Let's learn more about GAM3S.GG, the one-stop shop for all your web3 gaming needs.

 is a one-stop-shop web3 gaming platform where you can access in-game content, such as the latest immutable games, news, exclusive quests, reviews, guides and early access to gaming projects. 

A world-class team of gamers created the platform to help gaming enthusiasts keep up with what's happening in the web3 games industry by providing a central place to access quality information.

By leveraging strategic partnerships with other players in the web3 gaming space, GAM3S.GG has created a robust platform that curates everything you need to know about web3 games and projects. The platform helps you discover the best blockchain games, read game reviews and access analytics on the latest statistics and trends in web3 gaming.

 to integrate the Immutable ecosystem into its offerings so that users can enjoy Immutable zkEVM platform features, such as 

 and Immutable Passport, for a smoother gaming experience. Gamers also get to enjoy exclusive rewards and quests for games built on 

GAM3S.GG has also released the GAM3RS NFT collection, a limited edition of 333 

 that allows holders to unlock diverse perks and rewards. The collection represents four gaming archetypes: Achievers, Explorers, Socializers and Killers.

As a GAM3RS NFT holder, you’ll access various benefits and exclusive rewards. These include gaining access to the G3 token private sale, becoming part of an exclusive community, getting early access to top games, receiving exclusive skins in partner web3 games and qualifying for the G3 airdrop.

The GAM3S.GG gaming ecosystem is powered by the G3 token.

To provide a holistic gaming experience, GAM3S.GG works using the following components.

In order to use the GAM3S.GG platform, you first create an account and receive a unique user profile. The platform has an innovative algorithm that constantly looks at every user’s profile, using the information to provide you with a more personalized experience on the platform.

GAM3S.GG user profiles display the following information:

Quests are an essential component of GAM3S.GG, as they provide an opportunity for gaming enthusiasts to participate in challenges and games to accumulate XP and earn rewards. The quests involve completing missions in various games to win on-chain and off-chain rewards.

The GAM3S Quest platform has held over 100 Quests, attracting at least 320,000 participants who have completed over 3 million missions.

The core functionality of GAM3S.GG’s content and discovery product offers these key features:

G3 is the native token that fuels the GAM3S.GG ecosystem. Its utility is categorized as follows:

, separated into three phases, in which 30% of the total supply of G3 tokens will be allocated to the platform’s users. The first phase contains 15 million G3 tokens, and will be distributed exclusively to GAM3S.GG's early supporters. Part of the eligibility requirement for the first G3 Airdrop is being one of the 333 GAM3RS NFT holders.

G3 has a total supply of 1 billion tokens, which are being allocated as shown below:

You can buy G3 tokens on Bybit through its Spot trading platform. To celebrate the listing, Bybit is holding a

 through Apr 25, 2024, 9AM UTC, with 160,000 USDT up for grabs for new users and traders. In addition, there will be a Lucky Draw for rewards from a 20,000 USDT prize pool. Check out the 

GAM3S.GG centralizes various facets of web3 gaming, offering gaming enthusiasts a comprehensive platform that meets all their needs. This ease of access to all web3 gaming information also facilitates the onboarding of Web 2.0 gamers into web3. As the gaming niche expands rapidly, GAM3S.GG is well-positioned to capitalize on this growth.

Beginner

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GAM3S.GG (G3): Unveiling the Best in Web3 Gaming

Discover how to easily mint and buy Runes tokens with the Xverse Runes wallet and Magic Eden marketplace, unlocking investment opportunities on the Bitcoin blockchain.

) reward halving is a monumental occasion for both the crypto industry and users. Halving is a once-every-four-years event that always draws significant attention. However, the April 2024 event is special on an entirely new level, thanks to the highly anticipated launch of the 

 protocol, schƒeduled to go live right after the halving kicks in.

Runes is a revolutionary standard for creating fungible tokens on the Bitcoin blockchain. The standard is widely anticipated to set a new paradigm on the Bitcoin network, turning it into a thriving multi-asset ecosystem with significant trading and investment opportunities. Most importantly, Runes is vastly more efficient and user-friendly than BRC-20, an earlier Bitcoin fungible token standard.

 is a new token standard and technology for creating fungible cryptocurrencies on Bitcoin’s blockchain. (This new token standard is not to be confused with RUNE, the native token of 

). It allows users to issue and manage fungible tokens using Bitcoin's unspent transaction outputs (

), which represent the outputs of standard Bitcoin transfers. The concept of Bitcoin Runes was introduced in September 2023 by Casey Rodarmor, the enigmatic developer who also created Bitcoin 

Runes is widely expected to go live right after the Bitcoin 

 event (scheduled to occur on Apr 18, 2024, it's estimated to actually occur on April 19 or 20). The first Runes token will most likely be issued by Rodarmor himself. Following that, it's expected that a large number of Runes tokens will appear on Bitcoin, quickly leading to a thriving trade and creating investment opportunities on a scale that Bitcoin has probably never seen before.

Back in 2023, Rodarmor's Ordinals technology opened up a unique way of creating Bitcoin-based 

. Runes will now usher in an era of fungible crypto tokens on the blockchain. While it's not the first fungible token standard for Bitcoin, it's estimated to be the first technology that facilitates an efficient and user-friendly way of creating Bitcoin-based cryptos.

Runes will introduce a lightweight method for creating fungible assets on Bitcoin, thanks to its utilizing the blockchain's native UTXO model. The process of creating and transferring Runes tokens involves attaching messages, called Runestones, to a Bitcoin transaction. As such, there's no need to create any additional UTXOs or other unnecessary elements on the network. By using ordinary UTXOs generated during Bitcoin transfers, Runes avoids placing any significant load on the network.

Which Projects Are Building on the Runes Protocol?

Although the first fungible Runes tokens won't appear on the network until after the halving event, some projects have already begun experimenting with the concept by introducing Runes-themed Bitcoin NFT collections based on the Bitcoin Ordinals protocol. Typically, these projects promise 

 of their future fungible tokens to people who have purchased NFTs from their current collections.

Runestone is one of the earliest and most popular Runes-themed projects. It’s a Bitcoin NFT collection based on Ordinals, with each NFT depicting a 3D stone that has an ancient rune symbol inscribed on it.

There are 112,400 Runestone NFTs in the collection, and many of the items are listed for sale on 

, a popular multi-chain NFT marketplace. As of Apr 17, 2024, the most expensive Runestone NFT is listed for an asking price of 787 BTC. Notably, with a market cap of 9,779 BTC ($606,042,181), Runestone is currently the highest-capped Rune-themed Bitcoin NFT collection and the second highest-capped NFT collection overall, right behind the legendary Ethereum-based 

Rune Pups is another high-profile Runes-themed Bitcoin NFT collection. Each NFT in the collection is a rune-laced drawing of a broadly smiling creature, which does somewhat resemble a pup. There are 10,778 NFTs in the collection.

Pups are among the most popular Runes NFTs, with a highest asking price of 777 BTC (for item #10,733) and a market cap of 1,301 BTC (~$80 million).

 is a collection of 21,000 NFTs, each with a dynamically changing set of ancient rune symbols. Owning an NFT from the collection will automatically open up ways to mine new fungible tokens that the project plans to introduce as soon as Runes is operational. As such, this collection goes beyond simple NFT ownership, turning your non-fungible tokens into yield-generating assets.

Runes isn't the first fungible token standard for Bitcoin. This honor belongs to the 

 standard introduced in March 2023. Unfortunately, BRC-20 is a cumbersome and inefficient way of creating Bitcoin-based fungible cryptos. It relies on inscribing data into tokens using the Ordinals protocol, and generates a lot of "junk" UTXOs on the network.

Due to the novelty of the BRC-20 technology, many Bitcoin users jumped on the idea of using it to issue their tokens, seriously congesting the network and creating a significant "anti-BRC-20" sentiment within the Bitcoin community.

Runes fungible tokens are, however, vastly different from 

. The Runes technology utilizes Bitcoin's native UTXO model, doesn't generate "junk" outputs on the network and places a very modest load on the blockchain. Thanks to all of these advantages, Runes tokens are likely to lead to a much more active and robust trade in fungible assets as compared to BRC-20.

In Runes terminology, issuing a new fungible token is called “etching,” while adding tokens to the existing supply is known as minting. If you prefer to etch and mint Runes tokens on your own, the process is relatively easy for the technically minded.

 software and run your own full network node. Then, install 

 for the Ordinals and Runes protocols. The latter has been implemented under the Ordinals software packages. Ensure that you thoroughly practice etching, minting and transferring on the test network to familiarize yourself with the protocol.

You can also pre-buy Runes on Magic Eden. Probably the best wallet to use for these purposes is Xverse's 

, as it’s specifically designed for user-friendly Runes token management and easy integration with Magic Eden. This marketplace is currently the go-to platform to get early Runes tokens and Runes-themed NFTs.

You can buy any Runes-themed Bitcoin Ordinals NFT on Magic Eden in order to have Runes fungible tokens airdropped to your wallet once the protocol's operations kick in.

If you’re not able to buy your NFT in time, it’s still not too late to get your hands on one of the most promising assets in the market. You can still wait for Runes to be listed on 

The arrival of the first Runes tokens is expected to liven up Bitcoin like virtually nothing before. Ordinals were a paradigm-setting innovation, but they were focused on non-fungible assets, which have traditionally lagged behind cryptocurrencies in terms of trading and investment applications. BRC-20 tokens were the first fungible assets on the Bitcoin platform, but their inefficient, network-clogging mode of operation severely limited their adoption and use cases.

Runes are different: For the first time in the history of Bitcoin, there’s an efficient, native way of creating and managing fungible crypto assets on the Bitcoin blockchain. This heralds a plethora of unique 

 for Bitcoin enthusiasts — at the very moment when the much-anticipated halving has arrived!

Advanced

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How to Get Into Bitcoin Runes With the Runes Launch at Halving

Discover BitBrawl (BRAWL), a cross-chain compete-to-earn game on Solana with diverse modes, playable NFTs, and a fun, competitive experience.

 gaming has continued to grow with diverse projects looking to tap into this vibrant and promising space. That said, most of the games have focused on the play-to-earn (P2E) aspect of web3 gaming, which has saturated the web3 space with games that lack both enjoyable gameplay and sustainable reward systems.

 is looking to change that by creating the first cross-chain compete-to-earn (C2E) web3 game that encompasses fun, competition and rewards.

 is a cross-chain compete-to-earn (C2E) fighting game built on 

 that aims to provide fun and sustainably reward players. 

Its native token, BRAWL is used to power its compete-to-earn ecosystem.

s mission is to accommodate every player type — from games for competitive players to games for fun that you can play with friends and family. It's also focused on supporting a sustainable compete-to-earn ecosystem featuring weekly, monthly and even yearly tournaments to fairly reward players.

s storyline is based on 10,000 NFTs (brawlers) competing for glory, each one of them with unique skill sets originating from four regions: Nedunia, Ghule Islands, The Dynasty and The Underground.

The Nedunia region is a distant, secret planet consisting of one-eyed humanoids who use logic and rules to maneuver in it. In contrast, the Ghule Islands consist of ghouls who thrive on the adrenaline that comes with fighting.

The Dynasty is a city in the sky whose occupants are known for their ability to wield steel and move around in airships. Finally, The Underground is situated inside a dome on a gas-based asteroid. Its inhabitants have implanted artificial chips in order to manage the fluctuating levels of oxygen and nitrogen at different levels of the dome.

s gameplay involves player vs. player (PvP) matches known as brawls. Each player starts with three lives. Once a player loses all three, the game ends. There are also 2v2 or 3v3 matches for more fun online.

Gameplay consists of the following elements.

Non-fungible tokens (Brawlers) are a crucial component of the 

 game. Each of the NFTs has varying rarity, which will influence the amount of rewards you receive. There are four rarity classes of BitBrawl NFTs: common, epic, mythic and legendary. Each of the four regions in the game has been allocated 2,150 common NFTs, 250 epic NFTs, 100 mythic NFTs and 25 legendary NFTs.

Skins help you customize the in-game appearances of your Brawlers (NFTs). Once you 

 on OpenSea, you can connect your wallet and customize how you want to appear in the game. Skins are purely cosmetic, and do not enhance your NFTs’ power.

 has also partnered with other NFT games to allow you to play for free with their characters. Some notable names partnering with 

 include Karate Combat and G2A, in addition to UFC players such as Khamzat Chimaev and Darren Till. Better yet, 

s individual licensing method for NFTs allows you to play using NFTs such as those of 

BRAWL is the native utility token for the 

 game. It’s built on Solana, and has a total supply of 10 billion. As a functional token, BRAWL powers the game's in-game economy. BRAWL use cases include the following:

 in which you can use tickets to spin the wheel and earn points. As a BitBrawl NFT holder, you’re guaranteed daily tickets, with a chance to earn between 10 and 10,000 points.

You can also earn more tickets by partnering with the community, referring friends or participating in missions in the mission hub. Of the total BRAWL supply, 5% has been allocated to rewarding the community through airdrops.

The online gaming world is highly competitive, and 

 has designed a game in which everyone's a winner. The focus of the game is more on competing to earn, rather than simply playing to earn. As such, its competitive and rewarding design makes it fun and enticing.

 has adopted a unique licensing method that allows players to use playable characters from other games. This design makes the project scalable and flexible, so essential to the rapid growth being witnessed in the web3 gaming space. In fact, 

 could experience remarkable growth, especially when the NFT gaming narrative returns.

That said, this isn’t financial advice, and doesn’t guarantee future returns on BRAWL tokens. We highly recommend that you 

 or any other projects in the cryptocurrency market.

You can buy BRAWL on Bybit. It’s available on the Spot trading platform as a 

 provides a competitive but fun way to engage in web3 gaming. With over 10,000 Brawlers to choose from, players can explore the four regions and engage with others through the three modes in the game. 

s partnership with projects that allow the use of other NFTs in the game is also a unique approach.All in all, 

 is one Solana-based project to watch, due to its innovative gameplay and fun approach to gaming.

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BitBrawl (BRAWL): Fight for Glory in a Cross-Chain Combat Adventure

Nolus is a decentralized finance lending protocol with cross-chain capabilities. Learn more about how it works in this article.

One of the big advantages of decentralized finance (

) is that it provides more options for users. People who cannot get traditional loans because a typical bank deems them "high-risk" can turn to the DeFi sector to borrow crypto assets. The Nolus Protocol is a new DeFi lender that offers users all sorts of exciting opportunities. To see how this intriguing project works, explore this guide to learn all about Nolus.

 is a DeFi lending protocol. It has cross-chain capabilities that let people choose the most favorable rates possible and avoid the need to save up funds for liquidity.

Nolus was founded by Ivan Kostov and Kamen Trendafilov. Kostov worked in traditional finance, while Trendafilov has a background in marketing and business. During their time in these sectors, Nolus's founders realized that blockchain networks had the potential to revolutionize banking. They decided to join together and create a new leasing system that makes the most of DeFi products instead of just trying to mimic past banking methods.

Nolus started work on its plans in 2022 and officially launched its mainnet in 2023, having successfully completed several investing rounds and receiving 

 Token Metrics, Autonomy Capital, Everstake and more.

Nolus aims to tackle three problems common in crypto lending markets:

 software developer kit (SDK). Its code is entirely open sourced, and is updated and changed only when all stakeholders in the Nolus community vote to do so. According to the Nolus white paper, its ecosystem’s goal is “to build a novel user experience–driven automated money market” that facilitates direct interactions between lenders and borrowers without involving any other users.

The Nolus lending method starts with lenders choosing to supply 

 to the system. Any borrower who submits a down payment can get a loan from this supply of stablecoins. Both the coins and the down payment are 

, and interest is determined based on the value of the items. There’s no fixed repayment schedule, but the smart contracts ensure that interest is automatically removed from the collateral, and then paid to the lender at regular intervals. Once the user decides to repay the lease, the original assets are released from the smart contract.

Nolus's lending protocol includes many ways for customers to profit and enjoy convenient services. Here are the main DeFi products you can access through Nolus.

DeFi leasing on Nolus is designed to be as convenient as possible. Customers don’t have to go through a lengthy application or pay a lot of fees to other users. You just enter your collateral and get a loan of up to three times the value of the initial investment. Interest rates vary between 11% and 18%, based on the market value of the digital assets. The 

 allow the loan to be repaid on your own schedule. However, keep in mind that you pay more interest if you wait a longer amount of time to repay the loan.

If you want to earn money based on your existing crypto, you can join one of the many 

 on Nolus by submitting stablecoins in exchange for interest-bearing Nolus crypto. When you're ready to withdraw your funds and stop participating in DeFi leasing, you can cash out your Nolus tokens to receive your initial asset, plus any additional interest or network fees you’ve earned.

Nolus's system of money markets isn't the only thing they provide. Users who decide to 

 a crypto asset on Nolus can earn more money. The Nolus ecosystem offers the option of staking NLS tokens in exchange for various incentives. Lenders receive higher amounts of rewards for lending stablecoins, and borrowers get a lower interest rate.

Nolus has had some impressive growth since its launch in 2023. In just six months, the lending protocol has assisted with thousands of loans, collectively worth $8.6 million in total. Its team calculates that they've managed to achieve an average 

Nolus hopes to expand on this momentum in 2024. Its main plan is to continue marketing the lending protocol heavily, attracting more users who want to do their own research and find the best possible loans. To further attract users from the DeFi sector, Nolus aims to add more support for other crypto tokens and increase network liquidity. Nolus stands for community-led governance, so they don't have a long-term road map in place. Instead, they plan to evolve and adjust to suit whatever community needs arise in the future.

. It allows users to adjust their interest rates, and it's also a 

. People with NLS tokens can vote on how the platform is run and help implement new changes for the platform. The NLS token has a total supply of 1 billion. Nolus’s plan is to gradually mint tokens over a ten-year period, and implement a token buyback program to help maintain value. NLS token distribution will be as follows:

When the NLS token was released in the summer of 2023, Nolus prices were fairly stable. However, now that investors can sell their NLS tokens, prices have become more volatile. Starting in December 2023, NLS prices 

, and although the token currently seems to be dropping from its all-time high of $0.10, more price increases seem likely in the future.

Not only is the market for the NLS token quite bullish right now, but the Nolus lending protocol is also attracting a lot of positive attention in the crypto space. If the network can maintain its positive attention and attract more users, prices seem likely to rise even further. CoinCodex predicts Nolus prices will stay in the $0.04 to $0.19 range for 2025, and hit 

. This attitude is backed up by crypto influencers such as Crypto Revolution, 

 an underrated crypto with a lot of potential for growth.

The Nolus project is a well-thought-out crypto protocol that offers users significant advantages. Its innovative approach to lending could potentially attract a lot of users from the DeFi space. In addition to having a reliable system backed with effective technology and a detailed white paper, NLS digital assets have also experienced some promising growth patterns. The crypto asset has had a slow yet steady climb in price, and now that it's trending in crypto news, it seems poised to take off.

However, keep in mind that it's still important to 

 on digital assets. Some crypto investors might find it concerning that the Nolus project is mostly backed by marketers, instead of blockchain enthusiasts. There have also been some tech issues, such as the 

 that led to some unnecessary margin calls. Subsequent issues could limit price appreciation of its crypto assets. Therefore, it's necessary to approach Nolus with caution and not overextend your finances.

Nolus's DeFi lease system allows people to obtain easy access to crypto. Its innovative approach provides investors with significant advantages. Unlike traditional finance, there's no lengthy application process, and in contrast to many other blockchain networks Nolus doesn't have frequent margin calls or high network fees. As long as Nolus doesn't run into any technological issues or financial problems, its network is likely to have a lot of success in the DeFi space.

Intermediate

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Nolus (NLS): Crafting Liquidity's Future With Leading DeFi Leases

Bybit Learn

DeFi

A DAO is a blockchain-governed autonomous organization owned by its community members. Find out how it works and how to create a DAO in this article.

A decentralized autonomous organization, or 

, is a unique way to connect people using 

. Its structure is quickly becoming popular among users who have common goals and a desire to collaborate. DAOs are innovative because they give every member an equal voice.

New DAOs are emerging every day. Whether you want to grow your investments using 

 or donate funds to a charity, a DAO could be the answer. This guide demystifies DAOs, how they use blockchain technology, and what their advantages are over traditionally structured organizations.

A DAO is a blockchain-governed autonomous organization owned by its community members. It does not have a governing CEO or board of directors. The collective utilizes 

 to lay foundational rules, and is designed to give members equal votes on changes or modifications.

At any given time, members can create proposals to improve the DAO’s protocol, after which all community members have the opportunity to vote on them. Proposals with a predetermined percentage of votes in their favor will be accepted and implemented, based on the rules within the smart contract.

Community members are incentivized to approve proposals that benefit the protocol. As long as a protocol is healthy and sustainable, like-minded people will want to join the community. This, in turn, increases the demand for the DAO’s tokens, which elevates the value of the members’ tokens. As such, it’s in every member’s best interest to ensure that the protocol succeeds so they, too, can be successful.

The purpose of a DAO is to connect people with similar goals into a group that doesn’t want a leader. Operations are managed by the community and follow blockchain-based rules. Decisions made within the DAO are rendered through proposals and voting, making all activities transparent for the members to see.

 and tokens. Growing blockchain technology has enabled users to create DAOs with a wide range of goals. Here are a few examples of DAOs and their uses.

A protocol DAO governs a decentralized protocol — such as exchanges, lending and other applications — using smart contracts. This type of DAO can also be referred to as an 

, formed in 2015 and launched in 2017 onto the 

 network. Since then, protocol DAOs have become the most common type of DAO, with thousands of different applications.

, or DEXs. Each DEX enables traders to exchange different tokens with user-funded 

. Typically, a DEX will offer users rewards for staking the DEX’s native token. Some examples include 

Philanthropy DAOs focus on promoting social responsibility initiatives and other charitable causes. They employ several different models to collect and distribute funds, using cryptocurrency.

Their goal is to create a meaningful impact through sustainable, globally accessible fundraising methods. One example is 

, which raises donations for Ukrainian soldiers. Another is 

, which benefits multiple social impact organizations elected by POP holders.

Investment DAOs concentrate on investing funds as a group. As with other types of DAOs, each decision is made by those who own the investment DAO’s governance token. The objective is to generate revenue for the group in the form of cryptocurrency, NFTs or other decentralized assets.

One of the biggest benefits of an investment DAO is the collective decision-making process. In most traditional investment organizations, a small group of professionals, or one individual, is making each key decision. However, in an investment DAO, anyone holding the governance token can make a proposal, and everyone benefits when the investment pays off.

NFTs and digital collectibles are growing in popularity. Collector DAOs gather funds to purchase and own these digital assets. For investors, a collector DAO is a good way to own a piece of an expensive NFT, or other collectible, at a reduced financial risk.

Not all collector DAOs are formed for investment purposes. Some help make key decisions about a collection of NFTs or digital assets. These DAOs may have only a few dozen participants who use the technology to grow the community or spread awareness. As in an investment DAO, once the assets of a collector DAO become profitable, funds or other rewards are distributed to its participating members.

A grant DAO is similar to an investment DAO, except any collected funding goes to supporting new projects. Typically, these DAOs are philanthropic in nature and part of a larger community-driven program. An example of a grant DAO is 

, a community focused on building and funding 

Each decentralized autonomous organization is a little different. In general, you need to own the DAO’s governance token to participate in the decision-making process or receive rewards. The exact rules of the DAO are defined using smart contracts on the Ethereum blockchain.

Some DAOs have prerequisites for joining, but most require only a secure 

, which lets you purchase the DAO’s governance token and receive rewards. Additional community requirements may include filling out an application, joining a 

Remember that DAOs have no centralized leadership. All decisions are made by voting on member-submitted proposals. Even small decisions affecting the DAO are made this way, including how to promote the organization, distribute funds, operate new protocols and what to invest in.

The method for submitting a new proposal also varies from DAO to DAO. Large communities tend to require members to stake tokens, or pay a fee, to submit a proposal. This system encourages members to submit only serious proposals, and it increases voter participation.

After the proposal is voted on, a smart contract is automatically executed. Because of the DAO’s transparency and security, modifying a contract after it has been executed is very difficult.

Users may want to create a new DAO for several reasons. Typically, each DAO token holder has a voting power equal to the number of tokens they hold, which means that a person holding 50 tokens would have 50 times the voting power of someone holding just one token in the voting process. It is believed that someone who is more monetarily invested in a DAO would have a stronger motivation to ensure that the DAO succeeds. As such, this practice acts as a safeguard to ensure that users who are not as monetarily invested are not able to act in bad faith and cause the DAO’s fall. 

DAOs are needed because they enable participants to pool funds and support initiatives without having to rely on third parties. Instead, after a proposal is voted on, participants trust codes to automatically execute a smart contract. This makes each transaction verifiable on the blockchain by any member, whereas a traditional organization may not be as transparent.

While each DAO is built a little differently, they have the same core advantages. The decentralized and autonomous structure allows for smooth operations and easy collaboration. Here are some additional advantages DAOs have over traditionally structured organizations.

A DAO’s structure is mostly automated, giving it a huge advantage over traditional organizations. To smoothly run daily operations, a large staff isn’t necessary. Smart contracts handle every activity, so work doesn’t have to be prioritized, and tasks aren’t overlooked. The autonomous structure also allows each participant to remain independent; they can participate in the DAO as much as they like, with little to no impact on the DAO’s daily business.

Another benefit of using a DAO is the reduced need for human interaction thanks to the presence of smart contracts. While DAOs tend to have strong communities, they don’t have leaders. This gives rise to a neutral environment without any power plays from authority figures, which reduces conflict within the organization and ensures the organization functions as intended at all times.

Because of the DAO’s structure, each member is responsible for their own actions. DAO members also tend to have the community’s best interests in mind when creating proposals or voting on them. Every transaction on the blockchain is also clearly documented. In addition to having an invested interest in the organization’s future, most investors want the DAO to remain credible. This increases the likelihood of members conducting research before creating, or voting on, a proposal.

DAOs are very community driven. They can attract a large number of members, each with their own thoughts and opinions. While participation isn’t typically mandatory for token holders, it’s highly encouraged. The more investors contribute to a project, the easier it is for the project to grow. Every member has the opportunity to express their opinion and share ideas.

Before you create a new DAO, explore some of their potential disadvantages.

One of the biggest advantages of using blockchain technology is speed. Although DAOs use this technology, the community-driven aspects of the organization can impede progress. Because all changes to the DAO need to be voted on, impacts to the code can be time-consuming. This is incredibly problematic for emergency decision-making, such as responding to a security breach.

In a world where blockchain technology is growing at an alarming rate, security has become more important than ever. While smart contracts are generally thought of as tamperproof, new technology or hacking methods could create vulnerabilities in a DAO.

To vote on a proposal, you need to own the DAO’s tokens. Each token represents one vote; however, there are several DAOs that offer more voting power based on the number of tokens one has. This means the more invested you are in the DAO, the more voting power you have. Investors who have accumulated large amounts of DAO tokens may have enough to always have the majority vote. While some DAOs have rules against this, others may not see the issue until several impractical proposals have been passed. 

All rules and regulations for a DAO are enforced by smart contracts without the need for a single leader. This can make it difficult to change existing rules, especially if these rules were not clearly defined early on. Rather than a single person being responsible for the outcome of a vote, the group is responsible for the decisions it makes. This can cause issues with the overall management of a DAO, and may be problematic if a DAO gets involved in a legal battle.

Here are some of the most impactful examples of DAO projects.

 was the first of its kind. The independent enterprise ran on the Ethereum blockchain and enabled users to easily pitch ideas for projects. While the project raised millions of dollars, 

, and funds were stolen. Recovering the funds resulted in a hard fork in the blockchain. This led to the creation of 

Launched in 2017, MakerDAO controls DAI, a decentralized 

 pegged to the U.S. dollar. MakerDAO allows users to deposit DAI and earn interest. Users can also create collateral loans. While MakerDAO is known for DAI, its governance token is MKR. To participate in the governance of MakerDAO, you need to use the 

 (BAYC) is a popular NFT project. The collection consists of 10,000 NFT ape 

s, some valued as high as $24.4 million. These prices have made BAYC among the most successful NFT projects. The project also has an active 

, known as ApeCoin DAO, which is composed of members who hold Bored Ape or 

 NFTs. While ApeCoin DAO focuses on selling and monetizing the NFTs, holders can get additional rewards and drops. Because a limited number of Bored Ape and Mutant Ape NFTs are available, the ApeCoin DAO has a maximum of 30,000 members.

 is a DEX that allows users to trade and stake tokens. While users can interact with hundreds of 

 apps on Uniswap, the protocol is owned and governed by UNI token holders using an on-chain voting system. Anyone holding at least 0.25% of the total supply of UNI can submit a new proposal. Users can also participate in an active community forum.

 quickly became a popular investment DAO. It’s known for offering rewards to its members, but Yearn Finance also has several different financial projects aimed at helping users grow their investments. For example, vaults are unique staking pools that operate automatically, and enable users to share gas costs. Yearn Finance’s governance tokens are known as YFI, and each token is worth one vote.

This successful collector DAO is focused on investing in NFT art and other blockchain-based assets. Since its public launch in 2020, 

 has amassed several high-value NFTs from well-known digital artists. Flamingo DAO hopes to unite collectors within the NFT community and encourage new investment strategies.

 is an investment DAO that uses a decentralized lending protocol built on the Ethereum blockchain. It aims to match lenders to qualified borrowers, and allows lenders to earn rewards for using liquidity pools. The DAO’s governance token is AAVE, which is also used as collateral for borrowers.

 is a for-profit investment DAO focused on funding projects that provide high financial returns to its members. Since its release, the DAO has gained a reputation for investing in new 

What Is a DAO: Promoting Governance With No Central Authority

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards