A decentral autonomous organization is a group of people that organize themselves within the digital space. Token holders and supporters of the DAO are eligible to vote for changes or fundamental decisions within the protocol. Usually, DAOs hold a treasury, that is used to invest or support a specific cause. This could be a DAO supporting nature, human rights, a football club, or your favorite musician. Many protocols have DAOs to give voting rights to the community. This enables investors to steer the product (smart contract) in the favored direction.