How To Setup a DAO

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

DAOs or Distributed Autonomous Organizations bring people together to pursue a common goal.

Here are the steps to set up a DAO:

Create the DAO from an existing platform that provides DAO structures.

Choose a template that best fits the function of the DAO such as membership, company, or fundraising.

Set a name for the DAO.

Configure the template for your DAO.

Adjust the settings for the performance.

Launch the DAO.

Attach a wallet for managing funds and transfers.

You can either attach directly to a network such as Ethereum or set up a testbed.

Invite others to join the DAO and contribute to the cause.

DAOs give everyone the opportunity to vote on the direction and policies of the group.

DAOs range from small-group initiatives to large-scale movements.

Start with a small group and test out your idea before setting it up for scaling into a large network.

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