Stitchia | Docs

What is a DAO model?

In short, DAO stands for Decentralized autonomous organization with transparent structure. DAO’s government has no central authority to set rules, regulations, or fees, but there is a smart contract protocol. Simply said, the protocol is a program stored on a blockchain, which automatically checks if the rules defined by the community members are met. Once the contract goes live on the Ethereum blockchain or Layer 2 – Polygon, the rules remain unchangeable unless the community votes. Each one of those DAOs has different targets, some of them have a single purpose, but others are part of bigger projects.
There are various ways to participate in a DAO, usually through the ownership of a token. In Stitchia Network, there are so-called Genesis tickets and STITCH tokens, which grant network governance and voting power in the organization.