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What Is a Decentralized Autonomous organization (DAO)?

One of the major features of digital currencies is that they are decentralized. This means they are not controlled by a single institution like a government or central bank, but instead are divided among a variety of computers, networks, and nodes.

A decentralized autonomous organization (DAO) is a legal central governing body that is formed to take decisions and act in the best interest of an entity. It is popular in the community of cryptocurrency enthusiasts and blockchain technology


What is Decentrawood DAO?

Decentrawood DAO is the local governing body for decentrawood platform which owns a majority of assets which includes smart contracts, Meta Land contracts, Avatar clothing, accessories, and Market placey

Purpose of Decentrawood DAO, how it is linked to me?

As Decentrawood is a decentralized virtual world, we emphasize on the idea of “PEOPLE IN CONTROL” that creates DAO, which means you the user who indulge, create and own the virtual space will hold the policies that determine how this metaverse behaves. This includes deciding on what items are allowed (or disallowed) to launch, auction, and many more


How does the DAO work?

The community will put forward an idea and vote on upgrades, Meta land auction, policy updates, whitelisting of NFT contracts and whatever the community deems appropriate. The voting is governed by decentrawood DAO's governance interface.