Early on in my Web3 journey, I came across a lot of strange words and degen slang, but for some reason, "DAO" stood out to me not just for how strange it sounded, but also because "Decentralized Autonomous Organization" didn't exactly roll off the tongue. So, I explored the internet to know how to join a DAO. And I am willing to share it with you guys here.
What Is A DAO?
A Decentralized Autonomous Organization (DAO) is an online group of people that work together to manage a cryptocurrency wallet in order to accomplish shared objectives, such as operating a charity or business, without needing permission from anyone else.
DAOs offer a new framework for setting up an online community with a shared objective and financial account, to put it another way. When I started to consider it in that way, I realized that DAOs are an evolution of the LLCs that we are familiar with and used to today. That certainly aids in bringing everything back to earth.
How To Join A DAO?
Contrary to popular misconception, joining a DAO is a fairly simple procedure. Theoretically, all you need to do to join a DAO is pick one that interests you, purchase the DAO's token, and acquire access. Then, presto, you're a member of a DAO!
Due to how quick and simple it is to get started, it can be alluring to choose this path, but in reality, if you choose this path as a beginning, you'll be stumbling around in the dark. You'll probably wind up feeling bewildered and confused if you choose which DAO to join based solely on a one-line mission statement and a logo.
The vast quantity of DAOs available is one of the reasons why finding and joining one can feel daunting. When searching for a DAO, you'll discover that there are a variety of DAO categories and that each category has a number of DAOs. That reading about each DAO category first, then selecting the ones that jumped out to me the most, was a really beneficial strategy.
I'm going to concentrate on the three categories—Investment, Service, and Media—that jumped out to me the most.
Members of the DAO community contribute money, which is then pooled. Members then vote on protocols or other assets they want to invest in.
Service DAOs resemble a consulting firm. Lawyers, marketers, and designers are among the people who gather and sell their services. Media DAO community members work together to investigate, analyze, and publish material.
Using a DAO directory is what you should do at this stage of your quest. Daolicious and Logos were the ones I discovered to be the most beneficial. DAOList and DeepDAO are other options. After performing this preliminary screening, it's time to eliminate the DAOs with which you don't resonate. This can take a lot of time, especially when you learn that you have to do some research because many of the websites' descriptions of the DAO are somewhat ambiguous.
The majority of DAOs, if not all of them, will have a Telegram or Discord community. Others have open channels that you may join to get a feel for the ambiance, while some DAOs won't grant access to these communities until you join the DAO. Analyzing the DAO's Twitter account can give you an understanding of their branding and messaging, how they engage with the community, and the kind of information they produce, similar to what we discussed in the search section. It offers a second way to communicate with the DAO.
Congratulations if you've progressed this far in your DAO journey! You've arrived to the simple part. It's time to join a DAO right now.
This portion of the process taught me that there is no set procedure for joining a DAO. Your application procedure will be particular to the DAO you're attempting to join.
The most popular ways to join include:
- Purchasing DAO tokens
-Getting tokens from the DAO
- Commitment of a specific amount in ETH or another currency
A lot of DAOs additionally need you to complete an application process in addition to buying tokens or transferring money.
Summary
After submitting your application, all you have to do is wait for it to be assessed and contacted regarding your eligibility to join the DAO. then, there you have it! You recently joined a DAO. So, this is how to join a DAO.
