DeFi & Crypto Technical
Decentralised Autonomous Organisation (DAO)
An on-chain governance organisation typically operating via governance-token voting — often with off-chain legal-entity wrapper.
Definition
A DAO is an organisation governed by on-chain voting, typically through a governance token. Often operates with an off-chain legal-entity wrapper (Cayman Foundation, Wyoming DAO LLC, Liechtenstein Trust). MiCA does not exempt DAOs from the CASP perimeter where they provide crypto-asset services.