Review of MatrixETF DAO
The acronym DAO stands for Decentralized Autonomy Organization. DAO are based on open-source code, and decisions are made through DAO, removing the need for a traditional management structure or board of directors. DAOs operate by deploying smart contract codes on a specific blockchain. The DAO's rules are established by smart contracts.
DAO is an organization in which decisions are made from the bottom up and there is no central ownership; rather, the organization is owned by a collective of members. Decentralized autonomous organizations are not affiliated with any nation-state.
Decentralized Autonomous Organizations promote transparency and open decision making.
DAO has become an essential component of decentralized finance as DeFi organizations have adopted the DAO governance model.
MatrixETF has followed suit, by adopting the Decentralized Autonomous Organizational approach, which means that no single person is in charge of making decisions on the MatrixETF platform. As a result, decisions are made by the consensus of community voters who own $MDF, the MatrixETF platform's native token. Proposals are used to make decisions, and people with DAO rights can vote on those proposals for a set period of time.
MDF is a matrixETF platform cryptographic token that grants its holders, among other things, the right to participate in the MatrixETF platform's decision-making process. MDF holders can choose the investment products created by MatrixETF, the investment strategies pursued by MatrixETF, the asset classes of ETF funds, and the development direction of ETF and the matrixETF ecosystem.
The MatrixETF smart contract defines the DAO's rules, and those who own or stake MDF have voting rights and can influence how the organization operates by voting on or creating new governance proposals.
A DAO proposal on MatrixETF will only be approved if the majority of stakeholders agree to it.
MDF holders gain governance rights automatically and can submit new proposals, vote on proposals, and participate in community governance and decision making to promote MatrixETF.
You can get DAO rights on MatrixETF right now. Join the community to learn more about how to become an MDF holder: