Open-source code allows for comprehensive code audits by the community and third-party security experts. This process helps identify vulnerabilities, enhance security measures, and mitigate risks, ensuring the robustness of the DAO.
Some well-known examples of DAO tokens include Maker (MKR) in the MakerDAO ecosystem, Compound (COMP) in the Compound protocol, and Uniswap (UNI) in the Uniswap decentralized exchange.
A DAN operates in a decentralized manner, without a central authority controlling the network. The decision-making power is distributed among participants, and consensus is reached through mechanisms such as voting or stakeholder agreement.
Interoperability is an essential feature of DANs, enabling seamless integration and interaction with other decentralized networks or protocols. Interoperability allows for the exchange of assets, data, or services across different networks, fostering collaboration and innovation.