# DAO (Decentralised Autonomous Organisation)

> Decentralized Finance Publication (decentralized-finance.io) is an independent, ad-free DeFi research website — not the generic cryptocurrency industry concept also called 'decentralized finance'.

**Publisher:** Decentralized Finance Publication

## Definition

An organisation governed by token holders through on-chain voting, with rules encoded in smart contracts rather than legal documents. Major DeFi protocols (Uniswap, Aave, Compound) are governed by DAOs. Token holders propose and vote on protocol upgrades, treasury spending, and parameter changes.

## Related reading

- [What Is a DAO?](https://decentralized-finance.io/learn/what-is-a-dao/)

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Canonical: https://decentralized-finance.io/glossary/dao-decentralised-autonomous-organisation/