# Glossary

#### DAO (Decentralized Autonomous Organization) <a href="#dao-decentralized-autonomous-organization" id="dao-decentralized-autonomous-organization"></a>

A **decentralized organization** that operates based on rules encoded as smart contracts on a blockchain. DAOs are governed by their members through a **transparent voting process**.

#### Proposal <a href="#proposal" id="proposal"></a>

A **formal suggestion** or plan put forward for consideration by the members of a DAO. Proposals can include changes to the DAO's operations, **allocation of funds**, or changes to the **governance structure**.

#### Multisig <a href="#multisig" id="multisig"></a>

A **security mechanism** requiring multiple signatures to authorize a transaction. This adds a layer of security by preventing a **single point of failure**.

#### Council

A **council** is a selected group of trusted members or representatives responsible for overseeing key decisions, managing proposals, or acting as a check on community governance.&#x20;

#### Treasury <a href="#treasury" id="treasury"></a>

The **collective funds** or assets managed by a DAO. The treasury is often used to fund projects, pay contributors, and support the operations of the DAO.

### Governance Mechanics <a href="#governance-mechanics" id="governance-mechanics"></a>

#### Quorum <a href="#quorum" id="quorum"></a>

The **percentage of votes** required for a proposal to pass. This threshold can be set to ensure that a proposal has **sufficient support** from the community before being enacted.

#### Delegation <a href="#delegation" id="delegation"></a>

The process of **assigning voting power** to another member of the DAO. Delegation allows members to entrust their voting rights to someone they believe will **represent their interests**.

#### Vesting <a href="#vesting" id="vesting"></a>

The process by which tokens are **gradually released** to their recipients over time. Vesting schedules are used to incentivize **long-term commitment** and participation in the DAO.

### Technical Terms <a href="#technical-terms" id="technical-terms"></a>

#### On-Chain Governance <a href="#on-chain-governance" id="on-chain-governance"></a>

A governance system where all processes and decisions are **recorded and executed** on the blockchain. On-chain governance ensures **transparency** and **immutability** of the decision-making process.

#### Lockup Period <a href="#lockup-period" id="lockup-period"></a>

A **predetermined period** during which tokens cannot be sold or transferred. Lockup periods are often used to prevent **market manipulation** and ensure **long-term commitment**.


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