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DAO

DAO stands for Decentral Autonomous Organizations. Cryptocurrencies are decentralized (not all of them!), and so are their platforms. The governance of these platforms is run by decentralized entities. Every decision is made by pseudo-anonym individuals of DeFi platforms for prohibiting the centralization of power. Therefore, certain tokens are used for voting or making enhancements to these DeFi platforms. New coin issuances, redefinition of purposes etc., are all very vital features and can’t be left to a small group of individuals if the crypto ecosystem is for the masses. Zero-Knowledge Treasury Vaults with multi-key signature are the first example of a DAO in Ergo Blockchain.

ErgoTeam

ErgoTeam will not only be for simple joint-spendings like it was initially intended where special tokens needed to be issued. The developer plans for it to be much more general where any already issued token would work. This will help dApps to build an ecosystem around their product easily.

To achieve that, certain procedures must be improved. Here is one aspect of it: