A decentralized autonomous organization, DAO, is a blockchain-based system that enables people to coordinate and govern themselves through a set of self-executing rules placed on a public blockchain. Because the rules are incorporated in the code, a DAO eliminates the need for managers or traditional hierarchies and enables the organization to operate independently of its members.

DAOs already have a sizeable market value of about $13 billion. With more than 2,75,000 members, Uniswap (UNI) is leading the way in the ecosystem. Some of the well-known DAOs include the MakerDAO and Uniswap (UNI) ecosystem tokens.