Jim Barksdale once said: There are only two ways to advance civilization: bind and split. Messari, a well-known blockchain research institution, stated in its report: “2020 belongs to DeFi, 2021 belongs to NFT, and 2022 will be the year of DAO”. 

It is undeniable that due to the impact of the epidemic, the normal travel and social interaction of human beings have been greatly hindered. In contrast, the third world product-blockchain quickly swept the world with its advantages of decentralization and smart contracts. The governance principle of Decentralized Autonomous Organization (DAO) is based on the basic philosophy of smart contract “code is law”. Its ultimate goal is to break the existing pyramid-style centralized management and eventually achieve an autonomously running organization without any authoritarian hierarchy to impose their will.

DAO, making choices in History 

In fact, DAOs have been around since Ethereum was started.

Previously, DAOs are often associated with risk, this stems from the infamous The DAO hack in 2016 and the recent issues and confusion with Ukraine DAO. However, discussions about DAOs’ potential are getting louder. 

Each and every individual participating in a DAO owns part of the rights and interests of the organization according to the rules written in the smart contract execution, most of them are considered administrators of the organization, and can use their voting power as a form of governance. Currently, the most well-known ones are Friends with Benefits DAO (FWB DAO), a social and cultural community in the U.S, which a16z recently invested in, and Constitution DAO, which tried to bid for a copy of the U.S Constitution at an auction.

From the onset, DAOs seem to be meant for people who have a common consensus and come together to do things, and starting a series of operations such as community contribution and governance with the same goal in mind, and doing more for their common vision and ideals. In fact, the trend and viewpoints of the things happening are not planned ahead. DAOs have gradually started a new journey, and new stories, new projects, new people will generate DAO momentum from all directions. 

FamDAO: First attempt for Humankind 

The emergence of FamDAO seems to be more in line with the current asset security issues in digital finance. According to official sources, FamDAO, as an ecological currency of ANFS, is a community-driven DAO and an innovative decentralized reserve currency protocol based on the $FAM token. Each $FAM token is backed by a collection of assets in the FAMILY treasury (e.g. USDT) and has its own intrinsic value. Participation in FamDAO will bring unique economic and game-theoretic dynamics to the market through staking and bonding. 

These two mechanisms create $FAM tokens for creating a sustainable reserve currency while optimizing the short and long-term wealth of $FAM holders. FamDAO provides a series of functional modules to allow more communities to become part of the FamDAO organization, to make each community operate more smoothly and efficiently, to ensure democracy through decentralization, to ensure that decision-making and wealth are organized by the collective will of the country and distributed accordingly.

In the long run, any participant can become a part of FamDAO. In FamDAO’s roadmap, two mechanisms have been clearly stated: staking and bonding: 

1. Stakers pledge their $FAM tokens in exchange for more $FAM tokens, while bonders offer LP tokens in exchange for a discount on $FAM tokens after a fixed vesting period, during a fixed vesting period in exchange for discounted $FAM tokens.
2. Governance participants can participate on our forums and through discussions on our community discord and separately on the DAO Discord server. We’re always looking for new community members to contribute!

In FamDAO, $FAM is deeply tied to user behavior to establish a stable pool of liquidity. This has obvious advantages compared to AssangeDAO’s inaction. Several Twitter influencers denounced AssangeDAO on Twitter, calling it “Schrödinger’s DAO” to describe the organization’s unstable state and self-serving goals. In the end, the funds were donated to Pak NFT. The resulting fallout gave the impression that DAOs are a cat-and-mouse game that can be played at will. In contrast, FAMDAO’s open and transparent DAO governance is invaluable.

Epilogue – Choose your DAO wisely

DAO has a decentralized consensus, and each DAO is like an independent social experiment. Although various organizational concepts and governance schemes emerge in an endless stream, and the practice methods based on DAO are also very different, in essence, DAOs will play a powerful role in the coming decentralized future. The combination of individual strength and collective strength multiplied will bring a new dawn that we are eager to see, especially the dawn brought by FamDAO, just like the impact of DeFi on CEX at that time, this will become the most powerful voice in the new era.

Find out more about FamDAO:

Website: https://www.fam-dao.com/ 

Twitter: https://twitter.com/FAM_DAO

Telegram: https://t.me/famdao

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