The OBADA DAO (Decentralized Autonomous Organization)
The OBADA DAO is a Wyoming DAO LLC (available July 1, 2021), a decentralized autonomous organization.
A decentralized autonomous organization is decentralized because there is no single owner or entity in control. It’s autonomous because it consists only of an on-chain software application that runs with no human intervention. It needs to be an organization because humans need to run the servers, the application will generate a profit that needs to be distributed and decisions need to be made not only for changes but to set fees and rewards.
DAO members are like the “owners” of this non-company. They run the nodes, vote on all platform changes, and set all platform fees and rewards. The DAO is an open organization. Any actor in the asset disposition ecosystem can participate by making a financial investment to stake a node. Platform fees and rewards are collected and distributed nightly back to the DAO members as “profit”. Rewards are issued as “dividend yield”.