First Deployed DAO with True Full Decentralisation

Abstract

Blockchain technology has allowed for the emergence of a new type of organization, the Decentralized Autonomous Organization (DAO). They have gained significant traction in recent years, reaching market capitalizations of up to 60 billion USD in 2021. These organizations coordinate economic activity by an unbounded group of people within an adversarial environment. However, despite their potential, currently deployed DAOs face notable challenges related to centralization in governance and infrastructure. This work addresses these limitations by proposing a novel architecture for a fully decentralized DAO with no compromises. We introduce a scalable governance protocol utilizing multi-signature schemes to manage shared assets effectively. To demonstrate the feasibility of our approach, we implement, deploy, and evaluate a real-world DAO called Music DAO. Music DAO serves as a compelling use case, enabling listeners to collectively invest in and listen to their favorite artists. This research represents a significant advancement in the field of decentralized organizations, with the potential to revolutionize the way people collaborate and organize themselves.