
Wyomingâs DUNA Law â A Legal Framework for Non-Profit DAOs and Open-Source Blockchain Networks
Decentralized Autonomous Organizations (DAOs) are a novel form of governance for blockchain-based protocols. Unlike traditional companies or non-profits, DAOs are member-controlled organizations that operate without a central authority or hierarchical management. Instead, DAOS use smart contracts, often on the Ethereum blockchain. DAOs often use governance tokens to enable members to vote on proposals, make collective decisions about the organizationâs operations, treasury, and future development.