10 DAO tools you should familiarize yourself with |

The blockchain-powered digital economy is still in its early days, but already there are many ways to participate. Here’s a list of 10 tools that can help you get started or deepen your understanding of the decentralized network

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The “best daos reddit” is a list of 10 DAO tools that you should familiarize yourself with. These tools are used to help make the process of creating your own DAO easier.

10 DAO tools you should familiarize yourself with |

DAOs, or Decentralized Autonomous Organizations, use blockchain technology to create a new method of organizing people. A DAO is made up of individuals who band together to achieve a shared objective and form a fund to carry out that aim.

Investing in NFTs or startups, administering a stablecoin, helping charities, or purchasing historical relics are all possibilities. DAOs might arise spontaneously or people can join together with long-term objectives in mind. PleasrDAO invests in NFTs and is one of the oldest DAOs.

ConstitutionDAO occurred in a flash. In less than a week, thousands of individuals banded together to fund $45 million to purchase one of the original copies of the United States Constitution. 

DAOs are “governing bodies that manage the distribution of resources connected to the projects they are affiliated with and are also entrusted with guaranteeing the long-term viability of the initiative they support,” according to ConsenSys, a blockchain software startup.

Blockchain allows for more human collaboration. Great strength and the capacity to tackle humanity’s main existential concerns come with increased human cooperation. However, we need tools to fulfill the demands of the DAO ecosystem. We can use DAO capabilities to organize, manage finances, align incentives, vote on contributors, and reward them. 

Let’s look at various DAO utilities.

Aragon

Aragon makes it simple to set up a DAO on an open-source platform. To start your own DAO, you may select from a variety of DAO templates and applications. It also has a vote plugin to meet governance requirements. Their manifesto demonstrates a commitment to leveraging technology to liberate kindness and creativity. Their methods are intended to encourage good behavior.

Open Law

Code may now be used to simulate entire or portions of legal agreements. With Open Law, you can simply identify and create legal agreements that work with Ethereum, as well as answer legality issues. You may wrap smart contracts in legal agreements using their platform, then execute and sign the contracts. 

JuiceBox

JuiceBox is primarily used as a fundraising tool, making it simple to raise funds using cryptocurrencies. With the platform, you can create a community around a project, finance it, and program its spending. The user interface is designed to be appealing. JuiceBox is a good option if you want to raise money.

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Safe for Gnosis

Safe for Gnosis allows DAOs to create common multi-signature wallets so more than one person can be involved in confirming transactions. The company works with big names like ENS and SushiSwap. It supports most wallets but is focused on the Ethereum blockchain.

Snapshot

Snapshot is a fantastic tool for community voting based on token and NFT ownership. Snapshot is a decentralized voting system for DAOs that allows a variety of vote forms to meet the demands of diverse organizations, including single, approval, and quadratic voting. Proposals may be made and voted on for free.

Tally

Tally is used by DAOs to develop and pass proposals, as well as to allow delegation and power voting. It’s a robust tool for examining and voting on encryption schemes. You may link your wallet and view all of your DAOs in one spot. Creating and submitting proposals is simple. Ethereum, Polygon, and Avalanche are all supported by Tally. If your DAO requires proposal submission and voting, use Tally.

Discord

Discord is the dominant medium for DAOs to interact, particularly for larger groups, until a web3 version comes along (it seems that the Moonbirds team is working on this). Twitter and Telegram are other important communication mediums. If you’re going to create your DAO and set up Discord, you’ll need to be familiar with the platform and comprehend bots.

Coordinape

DAOs are self-contained, which means that participation is typically voluntary. The need of developing a fair remuneration structure for DAO members who publish, moderate, and work is critical. Long-term success will need the recognition and recompense of those who bring value to the DAO. DAOs may use Coordinate to motivate participation and develop reward systems for active members. Most DAOs will need a number of persons to devote the most of their time to the initiative, if not at the start, then later on.

Utopia Laboratories

Trusted by names such as Friends with Benefits, PleasrDAO, and Yield Guild, Utopia Laboratories is a collaborative payroll and expense management tool. It helps to manage payments, accounting, and reporting for DAOs. You can automate payroll (using fiat or crypto), keep track of DAO expenses, and assign roles to contributors to ease organization. What is impressive is you can batch execute all invoices and recurring payroll into one single multi-sig transaction without paying any gas.

Collab.Land

Collab.Land is used by several NFT projects to authenticate ownership of NFTs and construct token-gated communities. Collab.Land allows distinct organizations to establish token-gated tiered communities by using the power of identification and ownership. You could establish multiple NFTs to create distinct sub-communities, or a tiered system where the more tokens you own, the more exclusive access you have. Their bot is available on both Discord and Telegram.

10 DAO tools you should familiarize yourself with |Landscape of DAO Tooling (Photo by @Nichanank)

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