BXH DAO

The BXH decentralized exchange is managed by the community through a DAO. Users who hold a set amount of BXH can initiate and vote on proposals regarding the management of the DAO community, including block rewards, halving the cycle, launching new coins, adjusting the weighting of transactions on liquidity, etc. The voting weight of users holding coins is linked to the amount of BXH held by users.

WHAT IS DAO?
A decentralized autonomous organization (DAO) is an entity with no central leadership. Decisions get made from the bottom-up, governed by a community organized around a specific set of rules enforced on a blockchain.

HOW DOES A DAO WORKS ?

As mentioned above, a DAO is an organization where decisions get made from the bottom-up a collective of members owns the organization. There are various ways to participate in a DAO, usually through the ownership of a token.

DAOs operate using smart contracts, which are essentially chunks of code that automatically execute whenever a set of criteria are met. Smart contracts are deployed on numerous blockchains nowadays, though Ethereum was the first to use them.

These smart contracts establish the DAO’s rules. Those with a stake in a DAO then get voting rights and may influence how the organization operates by deciding on or creating new governance proposals.