DAO Capabilities

What's a DAO to do, anyway?

Many of you are probably wondering what actually happens in a DAO, so we'll get into the features of the Colony software and see what it's capable of.

It's important to note that what a DAO can do and what a DAO is capable of doing are kind of two different things. A guitar is a musical instrument that makes sounds, that's what it does... But it might take hearing BB King play to really understand what a guitar is capable of. The DAO evaluates votes and issues transactions. What we do with it, what we're capable of... that's where the magic is.

Current Colony Capabilities

• Members can join (with or without tokens)

• Tokens can be minted

• Teams can be created

• Teams can be given funding

• Tokens can be sent to an external address

• Simple payments for work already completed

• Tokens that are sent to an external address are locked as non-transferrable by default, and will be unlocked when voting becomes available. This can only be done once.

• The vault can receive tokens from anyone who sends them

Future Colony Capabilities

• Create proposals

• Vote on proposals

• Challenge proposals that are about to pass

• Earn Reputation within the Colony

• Vote to remove someone's reputation by "smiting" them for bad behavior

• Sell tokens via the "Coin Machine" feature

• Create a pot of rewards to be paid out

• Setup recurring payments

• Put the colony into recovery mode in case of an emergency (an outside attack for example)

• Interact with external smart contracts